Ah, investing! The way in which we put our money to work! I’m recommending three companies/services here. Let’s go from small to large.
First is Acorns. I love this application! I’ve posted a review of it here, but very quickly, Acorns connects to your checking and credit credit accounts. Each purchase you make is rounded up to the nearest dollar, and that ’round up’ is invested for you. You’re dealing with spare change, so you won’t retire next year because of this service, but if you’ve struggled with saving and investing, this nifty little application can help keep you in the game. Sign up for the service using this link and Acorns will give you your first $5 bucks!
Next is Fidelity. I recommend Fidelity because I use them (along with all of the other investing services on this page). Eventually I’d like to have all of my investments under one roof, but for now I’m very happy with Fidelity and don’t have a good reason to move away from them. Fidelity offers extremely competitive low fees and their mobile app is so slick and easy to use! Personally I have a small IRA with Fidelity and this is also where my 401(k) is at.
In addition to their low fees and easy-to-use mobile app, Fidelity also offers:
- Dedicated support online, by phone, or in person
- Powerful research tools
- Customizeable trading platform, with real-time data
- Plenty of investment choices (stocks, bonds, ETFs, options, and mutual funds)
- Low fees
Create your own Fidelity account right here.
Finally, we come to Vanguard. The crème de la crème in the personal finance blogging world due to their low fees. If you want to Get Rich Quick’ish, the you’ve got to be wary of fees. Fees will eat away at your nest egg, and over the years that seemingly small fee can add up to hundreds of thousands of dollars. Vanguard had the lowest fees out there, they’re rock solid, and it’s where I have my own IRA and Roth IRA. Eventually, I plan to have all of my money with Vanguard. Here are some other reasons I recommend them:
- Vanguard’s average expense ration is 0.19% – the industry average is 1.03%
- Vanguard is client-owned. As such, they answer to their customers (i.e. owners) & nobody else
- Commission fee trading
- Low minimums to open an account (starting at $1,000)
Open your own account with Vanguard right here.