We have all heard many of the wise money advice at one point or another, people say them often; “you have to spend money to make money,” “A penny saved is a penny earned”, “Be smart and invest your money”, and my personal favorite, “make your money work for you”! These are all very good sayings, and in many ways great advice that we should all follow, but life rarely is as easy to follow as it is to say these things.
One of the biggest roadblocks for new investors is education and the fear of not understanding of what to do, or what to invest in. Robinhood makes the entry process incredibly easy and painless. The primary offering allows new investors to pick brands and companies that they are familiar with or support to directly invest in them as a whole, allowing virtually anyone to invest with just the basic set of knowledge.
The latest update to Robinhood is the new fractional share trading offering. What it means for users is the ability to buy a part of any priced stock for just one dollar. If a whole share is 1.0 the new minimum buy is 0.000001 of a stock. Traditionally this would put the buyer/investor at a huge disadvantage because of the likelihood of being overcharged on fees but with Robinhood these fractional trades have zero fees! This update ultimately means that your average person now has no excuse not to start investing in today’s market. Saving 10 dollars is easy, and in the past, trades would cost 10 dollars in fees to make one trade, this changes things wouldn’t you say?
Another reason why you should signup and start using Robinhood today is the active checking with interest accounts, they call this feature Cash Management and this account earns up to 1.8% APY with your uninvested money. These accounts also allow users to spend out of it with a Mastercard debit card. This new account also allows users access to ETF trading and crypto currency investments.
Perhaps it is finally time to stop with the excuses and start investing today? Your future self will be proud that you won’t have to say another common wisdom saying…”I wish I knew what I know now, when i was younger”.
Don’t wait, start trading today.