Stash App – Start Investing Today!
Stash App or Stash Invest is a microsavings service developed for aspiring investors. Compared to its rivals, this service is more flexible with regards to investment options. It is an automated investment app for your iOS and Android devices that allows you to invest with as little as $5. It’s sort of a micro-investing and educational resource rolled into one. The service is going strong and rapidly growing. As of this writing, it has garnered over 500,000 users.
As per Stash’s CEO Brandon Krieg,
“We think the big challenge is getting people to start investing. Some people have no interest or time to learn to invest; robo-advisors are great for them. But many others truly want to become investors — to learn the ropes, choose investments, and know where their money is going. Unfortunately, most of them think investing is out of reach, because it’s too expensive, between minimums and share prices, and too complicated.
We’re tackling the expense and confusion by letting people invest as little as $5. They choose from 30-plus investment themes (enough for choice without being overwhelming). Most are funds from companies like Vanguard and BlackRock. Their names are a little dry, so we gave them nicknames like “defending America,” “delicious dividends” and “internet titans.” Our investors want guidance, so we also give them notifications; for example, on a day when the market tanks, we might tell them to take a deep breath and resist the temptation to sell in a panic.”
How Stash App Works?
You need to provide your Social Security number and evidence of U.S. citizenship to open up an account with Stash. It is a requirement also to link your bank account. You may link your bank account directly with your bank login and password, or connect it with your account and routing numbers. You must be at least 18 years of age as well and the service is only available in the United States.
Let’s assume that you already downloaded and installed the app. Upon launching the app, it will provide you with a questionnaire to determine your risk level. Once you have provided all the required information, you can start investing. If you are a first timer you do not have to worry, the Stash app will then present you with a list of investment options from which to choose. You can invest in what is most important to you, and as little as $5. It will also provide you with personalized guidance and recommendations to help you along the way.
Stash App Features
- Minimum Deposit is $5
- Fees: Free for the first month; $1 per month on account balances up to $4,999; 0.25% per year for $5,000 greater
- Mobile App Yes — iOS and Android
- Website Access No — Account setup only
- ETFs and Stocks Used
- SIPC Protection
- Third-Party Clearing Agency
- Fractional Shares
- Auto Stash (New)
For more information about the Stash App’s Features, visit their website