Technology has enabled consumers the ability to invest, spend and save money easier than ever before. Stash Invest is one of those companies shaping the future of how consumers invest and spend their money.
From investing in fractional stock shares, to getting your direct deposit paycheck earlier, to investing in your beliefs, Stash offers an innovative platform for investors of all experience levels. Furthermore, their learning platform aims at turning new investors into well polished investors.
Here's a detailed review from firsthand experience of Stash Invest. Here you'll find how Stash Invest works, who it's for, who the competitors are, and what sets them apart from the rest.
A Detailed Review of Stash Invest
Stash is an investing app that allows you to invest in the stock market with as little as $5. Although this concept isn't a new one among investing apps today, there are a few features of the Stash Invest app that sets it apart from the rest. Here is a detailed overview of the Stash Invest App, and why it may or may not be the best option for you.
What Is The Stash Invest App?
Traditional investing accounts limited who could invest in the stock market due to the minimum investment amounts, the limited access to the market, and limited knowledge of those with no experience. Modern investing apps today like Stash Invest have taken the use of innovative technology and made it easy, automatic, and convenient with low minimum investment requirements ($5 minimum) for anyone to invest in the stock market.
Often referred to as a “robo advisor”, Stash allows you to start investing while implementing expert advice. Upon account opening, you will be asked a few questions to determine how comfortable you are with risk, your investment goals and investment timelines.
Based on your responses, you will get a recommended portfolio mix of investments created for you that meet your risk tolerance and investment objectives.Next, you link your bank account and can begin investing with as little as $5.
This concept isn't new by any means, and has a growing popularity among both consumers looking for easier ways to grow their wealth, and popular among businesses and fintech startups looking to join the growing competition. Other popular investment apps comparable to Stash Invest are:
- M1 Finance
These are just a few popular ones among many others. However, Stash Invest has it's competitive advantages that aren't offered on other investing apps that are worth mentioning, and may make or break your decision on whether Stash is right for you or not.
What sets Stash Invest apart from other apps?
Each of the investing apps listed above have unique features that cater to a specific audience or investor. Similarly, so does Stash Invest. So what makes Stash different from all the other investment apps today?
They combine savings and investing with learning
Stash doesn't just aim to make it easy for anyone to invest in the stock market, they also aim to help educate you on how the stock market works. Within the app home page is your “current rank” based on a basic point system. When you complete certain tasks such as short quizzes, setting up investments on automatic, reaching investment goals, and performing different types of investment transactions, you get more points which increases your current rank.
Sure some of you may be thinking “yeah that's just another way to get us to invest more money with them.” I completely agree, however, the investment habits they teach are also very important to know about when getting started investing. It ends up being a win-win scenario for Stash and for it's users. And hey, if they are teaching you important investing tips and tricks, they deserve a little credit for steering us in the right direction anyways.
Furthermore, all Stash users get complete access to their “Learn” section which teaches you the basics of investing. From tips on saving for retirement to learning what dollar-cost averaging is, they cover almost every foundational investment topic to learn the basics.
Stash enables you to invest in your beliefs and interests
How does this work? Let's say you are a big supporter of green energy. Stash has created different funds that invest in companies that are particular to green energy.
Another example is blockchain technology. You may be a big believer in blockchain and cryptocurrencies, and Stash has a fund just for that. The fund invests only in companies that are supporting the blockchain industry.
Stash banking – a checking account that earns cash back
Similar to other popular checking accounts that reward you with cash back or money invested (like Acorns Spend, and M1 Spend), Stash allows you to open up a Stash checking account. The benefits of the Stash checking account are:
- No hidden fees, zero setup fees, zero monthly fees, zero minimums, and zero overdraft fees.
- Insights to daily spending patterns and guidance to improve your finances and spending.
- A debit card that allows you to shop at over 7,000 stores and restaurants that get you up to 10% cash back into your investment account.
- ASAP direct deposit is Stash's program that allows you to receive your paycheck up to 2 days earlier when your direct deposits are directed to your Stash checking account.
Invest in fractional shares
Traditionally, investing in stock required that you purchase a minimum of 1 share. This makes it difficult for some investors to invest in companies like Amazon or Apple, when the price of one share can be in the hundreds or thousands of dollars.
Although not a new concept, there are relatively few companies that offer the ability to invest in fractional shares of stock. This means that you can invest even just $5 into any stock offered through that investment account.
Stash gives you the option to choose from hundreds of the most popular publicly traded company to invest in. You can add any of the offered stocks to your portfolio of investments and create a portfolio specific to your beliefs, interests and favorite companies.
Is Stash Invest For You?
Stash Invest no doubt offers an enticing package for investors of all experience levels. If you're new to investing, believe in investing in causes rather than companies, want to invest little money or invest in fractional stock shares, then Stash is a great starting point that you can't go wrong with.