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Investing and Savings Platforms

In this article I don’t include robo-advisors for mutual fund accounts, as they are very common. You can easily find the information you need about them by searching.

I have a keen interest in investing, especially in the stock market. My advice to any young new investor is to begin by investing in yourself- your knowledge. Be it going school or learning a craft. Then you may begin investing for financial gains. My second advice is to beware of fees involved in investing and try your best to skip the middleman or reduce the cost paid to such person or company. As the notable quote by Ben Franklin goes: "Beware of expenses. A small leak will sink a great ship."

This page provides more details for those who are interested in using futuristic investment platforms, which tend to be investment avenues that are mobile focused, cheap, and/or collaborative investment.


Apps with the idea of helping you save:

Automating your finances -- meaning you set up your funds to be moved from your checking to savings account each month -- can help you save without thinking about it.


Acorns automatically invests your spare change when you make purchases with your credit or debit card. Acorns is come with the convenience of transferring your money back and forth to your withdrawal account. As mentioned, Acorns is an investment platform and invests your money into a portfolio that ranges from conservative to aggressive. Acorns allows unlimited transfers, with no minimums. Fees: $1 month for < 5k or .25%yr for > 5k.


Every few days, Digit checks your spending habits and removes a few dollars from your checking account if you can afford it. This is a savings platform. Digit comes with the convenience of transferring money back to your personal spending account by simply send a text message. Digit allows unlimited transfers, with no minimums, and no fees.


Collaborative investment


Openfolio brings the power of networks - openness, connectivity, collective intelligence - to the world of personal investing. Openfolio lets you see how others your age, or in your region or in your industry, are investing. This is the first of its kind and it is indeed very intriguing. It is called peer benchmarking. You simply sign up, add your different investment vendors/accounts, then openfolio aggregates the investment performances from all account and compares them to which ever group or network you are interested in. Would you like to see how warren Buffet’s investment stack up when compared to yours, or your peers in the same industry? Then try Openfolio.


*No fee* Stock market investment apps:


Commonly known as most people’s favorite $0 commission stock trading platform, Robinhood allows you to trade stocks without any fees. There is no minimums and although it takes 3-5 days to transfer funds back and forth- there is no limit as to how much or how often you do. The app is currently only available on iOS.


Loyal3 has no minimums and comes with $0 stock trades. Loyal3 allows investors to put as little as $10 into whole or fractional shares of stock, or as little as $100 in an IPO. Although it is important to note that your transaction is far from real time. Loyal3 buys a stock, for example, at a given period of time when they have large funds combined by different users- this may be twice a day. In addition, they only have a few selected stocks and IPOs.


Thematic investment


Motif is an online brokerage built on thematic portfolios, of up to 30 stocks and ETFs, which can be customized and traded for as low as $9.95. There are fees involved when using Motif and they tend to be as high as $30 or low as $9.95 depending on where and how much you are investing. Thematic investing is very interesting, you can invest in or build a motif. Such as Rest in Peace (the deathcare industry of which consist of casket makers and funeral products), the world of sports (Nike, Footlocker, Dicks sporting goods), content is king (Walt disney, comcast, WWE) etc.

Please inform me if you think I left something out. May be a different platform, company, or what so ever.