If you’re looking for the best way to invest money in Canada, then you may feel confused and overwhelmed. Fortunately, there are several ways that you can make investments without even thinking about it. In this digital age, no one should be surprised that some of the easiest ways to do this are through smartphone apps. Here is a look at five of the best apps you can download today to get started on your investment journey.
The best way to invest money in Canada may be not to overthink it. Sometimes the simplest things like the Acorn app is the right investment technique for you. Acorns work by rounding all of your credit and debit card transactions to the nearest dollar and takes this spare change and invests it. You can choose from many different investment types for just $1.00 per month. Many of the services within the app are free, such as transferring funds and trading securities.
One of the things that many people like about Betterment is that it’s not all just software and algorithms. They use human, financial advisors as well as to build an investment portfolio for you and automatically rebalances it for you. The cost of this extraordinary program depends on how much you have invested.
Don’t let the name shock you. The Robinhood app isn’t stealing from anybody. But you’ll love seeing your investments move and grow on this app that enables you to invest for free. You’ll have more buying power when you sign up for a Gold account, but there’s no monthly cost for the basic account. Plus, the user-friendly interface helps you keep up to date with your investments in real time.
Wealthfront works mostly in the same way as Betterment does, with a passive investment style. It has a host of robust features including tax loss harvesting and advanced and direct indexing. You may like that you’re better equipped to reach your goals with this app because it provides visualizations of your financial outlook. This valuable app is free for the first $10,000 invested, making it an excellent option for beginners or investors with a lower budget.
With the Stash app, you can start with as little as $5.00. It’s free for the first month and then either $1.00 or $2.00 per month depending on the account you set up. Once you fill out a profile to set up the account, Stash takes all the information you gave and recommends some investments for you. The app includes automatic investment feature so that you don’t even have to think about the money before it’s invested. This is a great way to get started investing on a low budget.
The tiered structure of the pricing program means you pay less the higher your minimum balance. With this app, you get guidance from financial advisors as well. This alone may make the Betterment app the one to beat.
Investing doesn’t have to be complicated or confusing. Sometimes you can get started with a quick swipe on your phone Reach out to Doc’s Consulting today to find out more about these and the best way to invest money in Canada.Best Way To Invest Money Canada