You no longer need the help of a financial advisor to invest money online. Why? With technology today, investing has been made easier than ever before. All you have to do is open a free investment account, answer a few quick questions, and a portfolio customized to your risk tolerance will be automatically created.
Is it safe? Absolutely! In fact, it may be even safer than using a financial adviser. There is no one who will be tempted to sell you an investment vehicle that pays him/her a higher commission, thus messing up your investment strategy. With the process I'll lay out below, everything is automated for you and diversified for you based on your needs. Follow the process below, and I'll show you how to invest money online safely & securely in 4 easy steps.
The Best Way To Invest Online Safely & Securely
Have you ever heard of a robo advisor? That's exactly what I'm talking about. A robo adviser is simply an investment account that puts together a diversified investment portfolio for you based off of your answers to a few quick questions. The nice thing about a robo adviser, is they don't get paid on commission like your expensive financial adviser does. Fees for a robo adviser start at just $1 per month, despite how many deposits you make.
Acorns is an investment company that falls into the category of a “robo adviser”. They ask you a few questions regarding your investment objectives, and put together a personalized portfolio of investments for your specific scenario in just a few minutes time.
With their features such as “round up's” and “found money”, you can accelerate your investment account growth without feeling any change in your week to week budget.
Round ups are referring a feature that Acorns offers its customers that allows you to round up all your purchases you make on a daily basis to the next dollar. The change is then taken and invested into your Acorns account for you. For example, say you make your daily visit to the local market to get your daily soda (your guilty pleasure), which costs $2.35. Acorns will round your purchase up to $3.00, and invest the extra $0.65 for you automatically. This can surely add up over time!
Found money is another feature unique to Acorns that allows you to shop online with hundreds of major retailers, and get cashback for shopping through the Acorns app. This is the same process as shopping with major cashback websites. All you do is log onto your Acorns investment account, click on “found money” and select the retail store you wish to make a purchase at. You will then be taken to that store's website and you make your purchase like normal!
By accessing the retail store through the Acorns affiliate link on your Acorns account, they can track that you made the purchase as an Acorns customer and thus you get access to the cashback offer in the form of a deposit to your investment account.
Lastly, using a robo advisor like Acorns saves you time in the long run by not having to manage your investments on a day to day basis because its already managed and diversified for you! (I'm not suggesting you NEVER look at your investment account, but rather you can have the peace of mind that its in the best diversified portfolio for your goals) Here's the 4 steps to getting started investing online with Acorns investments.
4 steps to invest your money online
Follow these 4 steps to invest your money online safely. You will even get $5 for free for doing so!
Acorns is one of the safest and most well-established robo advisers out there. You can invest starting with as little as $5.
Step 1 – Open your Free Acorns Investment account – You get $5 just for completing this step!
Follow this link here to head on over to Acorns investing website and click the “get started” button. This will lead you to the Acorns registration page. Fill in the requested information and click “create account”.
Step 2 – Connect your bank account
You will be taken to a page to link your bank account information up to your investment account. This will allow you to transfer money whenever you want, as well as turn on the “roud up” features mentioned above.
Yes, Acorns is a VERY trusting company, and they use 256 bit encrypted technology to protect your bank account information and personal information.
They have a list of common banks for you to choose from. If you see your bank listed, click on the link and it will take you to your bank login page. At this point you will need to log in, and choose which account(s) you would like linked to your Acorns investment account.
If you don't see your bank listed, that's OK. Simply type your bank or credit union name in the search bar to pull it up.
Step 3 – Fill in your personal information
Again, Acorns uses a 256 bit encrypted technology so your information is with a trusted company. You will need your full name, date of birth and social security number.
Step 4 – Answer the investment questions
This is perhaps the most important part. You want to answer the questions in regard to the money you will be depositing. So if that be that your money is going to be saved for a down payment on a house, and won't be used for 2 years, then answer the questions accordingly. If the money will be used for longer term like children's savings or college fund, answer the questions accordingly.
That's it! You get $5 for opening your account to start investing. Now there are a few other things to keep in mind that you will want to know about.
**Click here to open your free Acorns investment account and get $5 free just for opening your account**
Why is investing with Acorns the best option?
There are some great investment companies out there that can put together a diversified portfolio for you in the same way that Acorns can. What's the reason we recommend Acorns?
First off, they've been around as long as the idea of “robo advisers” has, and are well trusted, respected, credible and safe to use. With Acorns, you also get the option to turn on the “round ups” and watch your account grow even quicker without noticing any difference in your day to day budget!
You also get the unique feature of shopping through their website or app at major retail stores and get cashback for doing so. This is unheard of!
Lastly, you get $5 for free just for setting up your account, so there's really nothing to lose.
The most important investment advice you could follow…
The biggest asset you have when it comes to investments is time. Whether you are near retirement or just graduated from high school, by investing NOW you will take advantage of compound interest, often times called the 8th wonder of the world.
Compound interest is simply gaining interest upon interest and so on. For example if you got a 5% return on $100, you'd then have $105. Now you get another 5% return on $105 and it is $110.25. You get the picture.
Make a habit to invest regularly with automatic transfers, round ups, and using the found money feature and your net worth will skyrocket over time!
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