In order to make investing easier for the general public, a number of new investing programs have emerged geared towards simplifying the investment process. These programs take much of the guesswork out of investing by automating many of the processes that made investing so complicated in the first place. Now, anyone of any income level can use these new investing programs to grow their wealth in the stock market.
Acorns
Acorns is a good way to invest in the stock market without having to think about. The program funds your account my rounding up the purchases of a linked debit or credit card and investing the difference on your behalf. There are six different funds available within the program and you choose the one that is right for you based on your risk tolerance. There are charges associated with the accounts. Acorns charges $1 a month for accounts under $5,000 and 0.25 percent of your annual assets for accounts over $5,000.
Betterment
Betterment is one of the most popular new investing programs to hit the market in recent years. The program uses a complicated algorithm based on your age and investment goals to determine the best investment portfolio available for your needs out of their offerings. There is no minimum investment account and you can deposit funds into the account via direct deposit from your bank account. This program is available online, as well as on iOS and Android smartphones.
Loyal3
Loyal3 is one of the few new investing programs that let you buy shares of stock for as little as $10. Users can invest in a wide variety of popular stocks, including Amazon.com, Apple, Walt Disney Co., and Hershey, and even participate in IPOs for as little as $250. New stock offerings are added on a regular basis and dividend earnings are automatically added to your account balance. There are no fees charged for purchasing shares or cashing out earnings.
Wealthfront
As far as new investing programs go, Wealthfront is considered one of the best. The program offers fully automated, fully diversified investment accounts that are periodically rebalanced based on your investment goals. The program is so popular that the company now manages more than $1.5 billion in assets from investors of all income levels. Wealthfront also offers many financial management features that will help you determine things like whether you have enough money in your emergency savings account or whether you are saving enough for retirement.