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Micro-investing is a great option for those interested in saving their money for the future opines Ali Ata an expert in investment strategies. This is the form of investment in which one can choose to invest even though they do not have big capital. This is an ideal investment platform for beginners.
Just like all other investment tools, micro-investment also has several varieties in the market. However, it is always important to know which option will give the best returns so that the financial goals are appropriately met.
The following is the list of micro-investment platforms that one can find in the market:
- Acorns: The everyday little changes that one has left after the regular expenses are made can be easily invested in this platform. One gets to choose the risk level, the difference of the transactions is rounded and invested in an ETF based on the risk level. This is the most popular micro-investing platform.
- Stash: This is about fractional shares. The users have their interests and financial goals defined and based on that the portfolios are curated. It is easy to invest in this as constant guidance is provided in it along with information at every stage.
- Robinhood: This has an extremely user-friendly interface and the best part of this is that it is commission free. This is a great means of investing in stocks with a low budget informs Ali Ata. This platform also allows one to invest in cryptocurrency. If you are a beginner it is best to seek assistance from some professional before investing in this.
- Betterment: This is available both in the app and website options and has a robot guide. One needs to answer a questionnaire when signing up on this, which asks about the financial goals and the kind of accounts one wishes to engage in. This is a good choice for the overall management of investments and is backed by tax-loss harvesting.
- M1 Finance: It offers fractional shares and allows you to build a portfolio using pre-made investment “pies” or create your own. It allows users to create and manage customized portfolios.
- SoFi Invest: This too offers commission-free trading in ETFs, stocks, and cryptocurrencies. There are advisors who provide education about the platform to ease the investment process.
- Stockpile: This is more of a personal decision-making investment platform says Ali Ata who is well-versed in all sorts of investments. It is a tool that encourages investment in individual stocks and ETFs. The biggest advantage of this is that one gets to invest in fractional shares at reduced prices.
Hence, micro-investment is a wise way of exercising one’s money-saving and money-making strategy. But what needs to be kept in mind is that thorough research must be done on the numerous options that are present in the market. This is to ensure, that even if it is a small amount that is invested it is done in the most suitable place.
