How Can a Millennial Start Investing?
Let's say you go out to eat with friends twice a week. Your meal is $10, you get a $3.50 drink and you're hypothetically not a dick so you leave a 15% tip. [(10+3.5)*1.15 = 15.53]
Five years ago if you said you wanted a stock brokerage that had no minimum deposit requirement and no commissions on trades you'd simply be out of luck. However, today this is a realistic ask made possible by Robinhood. Robinhood disrupted all the traditional brokers by targeting Millenials who wanted to invest but couldn't afford the high commission fees and minimum deposit requirements. Starting off with $176 million in venture capital funding, Robinhood has come a long way with a current valuation of just over $1.3 billion and over 2 million users. Robinhood offers you the ability to buy shares of publicly traded companies as well as Exchange Traded Funds (ETFs). Robinhood launched originally as solely a mobile application but is launching their web version within the next coming months. Robinhood is also planning to start offering future contracts for stocks and ETFs. Compared to traditional stock brokerages which charge anywhere from $4.95 - $6.95 commission fees along with minimum deposit requirements of close to $2000, Robinhood gives young investors the clear financial advantage. I will provide links below to download Robinhood for both Apple and Android devices. Robinhood is also currently doing a new user promotion offering new users the chance to get a free stock if they use a referral code. I will provide my referral code below if you would like to get a free random share of a company when you sign up.
Robinhood Download Apple:
Robinhood Download Android: https://play.google.com/store/apps/details?id=com.robinhood.android&hl=en
Robinhood Referral Code: http://share.robinhood.com/
Acorns Explanation Video: https://youtu.be/zWftVEaTNJg
Acorns Referral Code: https://acorns.com/invite/
Acorns Download Apple: https://itunes.apple.com/us/
Acorns Download Android: https://play.google.com/store/apps/details?id=com.acorns.android&hl=en
There are plenty of ways you can start investing today and grow your wealth for tomorrow. The companies I listed above give you the opportunity to reach whatever personal financial goals you have. If you have any questions, comments or concerns you can feel free to either email me at firstname.lastname@example.org or leave a comment below.