Do you have a clue what a stock is? Do you have some extra money? Are you looking for a way to make yourself change? Those are some of the questions I asked myself when I first downloaded the stash app. Now i must say not only me but this app as well has graduated since we first met each other and i bought five dollars worth of a marijuana ETF. Keep reading and I will inform you of the ups and downs and if it is right for you.
What is Stash App?
Stash Investment app is an introduction into the world of stocks, saving, and investing. It is a place where any beginner of any age can come invest five dollars and own a piece of amazon. It is a game that challenges you to invest, it is a checking account that offers Stock Back and much, much more.
What can i do with the app?
Fractional Shares - Probably one of its most valuable assets. This allow you to invest $1 a week, a month, or one time into any stock that is appealing to you regardless of the cost.
Dividend Reinvestment(Drip) - It does not matter if your are following the S&P with an ETF or you are buying apple stock before the split. If the stock offers a dividend, when it is paid out monthly or quarterly it will automatically reinvest it into the stock allowing you investment profile to be on cruise control.
Stash Retire - Are you a freelancer with no 401k this simple IRA is perfect for you. You can slowly invested all of your additional income up unto the limits put in place, and watch your tax free savings increase over time.
Stash Banking - Has already gone down in history as the card that offers Stock Back instead of Cash back or reward points. Meaning if you buy something from Amazon a percentage of that goes into ownership in Amazon stock.
Round Ups - And of course they have round ups in which you can connect to any bank card including your stash card. So when you spend 9.50 on something the remaining .50 goes into your invest account.
What are the cons?
So staks you have spoke very highly about the app so it cant be all good! With that you would be correct there are a few issues with the app.
Fees - Yes there are up front fees and in a day in age without fees $3 a month could seem like a lot especially in a down market.
Who is Stash investment App for?
Stash app is for the beginner who is interested in the stock market and looking for a way to learn their way around investing, It is also for the parent wanting to teach their child the game. Lastly it is for the freelancer looking to invest their additional income without being so involved.
Invest about $50 or more
Set up auto invest
And dive into the challenges and learning sections.
Next set it on auto pilot and start with level 2 Robinhood