Technology is revolutionizing almost every industry. Especially banking and investing. You may have seen the new apps and online only banks popping up everywhere. It’s creating new opportunities every day.
When it comes to investing the first logical step is to start investing in your employers 401k. Many employers will match your contribution up to a certain percentage to help you boost your retirement income.
The second step would be a Roth IRA. This is another tax advantaged account where you put in your contributions after the money has been taxed, but then when you’re at retirement age, currently 59 1/2 I believe, you can take out your money TAX FREE. If you’re young and this doesn’t excite you, just know that it will save you potentially tens of thousands if you contribute regularly.
But Hey I have A Little Extra I Want To Invest For Fun
I hear ya. That’s what I wanted to do. Most investment firms will charge fees each time you purchase and sell your stocks.
That’s where my favorite investing app comes in:
Stash allows you to buy and sell your stocks with just $5 at a time.
Their service is affordable at just $1 per month. if you’re investing five dollars at a time that one dollar fee is high in comparison to other funds, but it’s giving you an opportunity to invest in a large number of index funds and individual stocks any time you want. So if you ask me, it’s a great deal.
I’ll update this post with my portfolio progress at I build a more robust portfolio.
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