Investing money 101
My friend was talking to me about some apps that let you invest 5-10-50$ etc. I have no idea how the stock market or this apps work. Are they worth to invest money in? What advise would you give to someone who would like to start investing money but have 0 knowledge about the market?
Betterment, Axos and Stash are three examples of such companies. They all have different fee structures (or no fees) so pay attention to that. They all have great training materials on the different ways to invest based on your goals. all these companies should be SIPC insureds so you are insured as long as your money is invested. Doesn't mean there is no risk in the market, just that the investment firm can't steal it. If you are starting with very little every week or month, these apps are a great way to dip your toes in. Don't let fear hold you back.
This is likely what OPs friends were talking about
Thanks for your answer, yes i have read some i formation they provide on the side, i know the terms buy and sell . the important part would be when?.? Or if that is going to affect my taxes at the end of the year?.
Are you talking about Acorns app?
Acorns, stash and others out there in general.
Read money master the game by Tony Robbins. I personally wouldn’t invest right now as we’re towards the end of an economic cycle. Put your cash in a saving account that pays enough to cover deflation. Use the next 6 to 12 months to as learn as much as you can about investing. You want to be prepared when recession slowly kicks in. This market cannot go much higher, I’d give it a year MAX to tops, that’s best case scenario
Thanks for the advise.
Dont listen to JPM. You cant ever time the market. Better to be in the market than out the market at all times. Obv keep a stash of cash for emergencies
Just open a Robinhood account. They dont have any commissions so you can use it for free.
Sounds stupid. Investing is important take some time to lean the basics. And invest directly on stocks or commodities. If you are in the tech industry, use your industry knowledge as a Competitive advantage to decide which stocks to invest in .. bye
I am on the healthcare field. My knowledge of investing is very basic, that is why i would like to learn from experts. Thanks for your answer.
no experts here