2. Automate Your Wealth with Robo-Advisors
If you don’t want to spend time researching individual stocks or worrying about when to buy and sell, Robo-Advisors are the perfect solution for beginners.
Platforms like Betterment, Wealthfront, or Acorns use advanced algorithms to manage your money automatically. When you sign up, you answer a few simple questions about your financial goals and risk tolerance. The app then automatically builds and manages a diversified portfolio of stocks and bonds for you.
The “Spare Change” Strategy
Apps like Acorns take it a step further by linking to your debit card. Every time you buy a coffee for $4.50, the app rounds up the purchase to $5.00 and automatically invests the $0.50 difference. With an initial $50 deposit and automated round-ups, your wealth grows entirely in the background without you even noticing the money leaving your account.
Click “Next” to learn about the safest way to invest in the entire US economy.