Anyone have a Stash, Acorns or Robinhood account?

[HeatherC]

I have both Stash and Acorns. I know Robinhood has been in the news lately.

I use Stash as an “extra” little investment fund for stocks or mutual funds I like. Figure down the road it will be a nice extra bonus. Acorn I use primarily as a fun money savings account for vacations, etc..

I contribute a small amount each week and can’t believe how quickly they have grown. (I realize the stock market has done very well the last several years.)

This is all money I can afford to part with so if things take a downward turn, I will still be fine.

All my young adult kids have them as well and it has been a great way for them to gain actual investing experience.

Anyone utilize any of these?

 

[EACarlson]

I use Stockpile. I put in $20/month and just let it sit reinvesting the dividends. I've done pretty well with Disney stock. This is of course completely different than my 401k and company funded retirement accounts.

 

[cvjw]

We are old school. Just use Charles Schwab

 

[nene0182]

I have a Stash account for fun. I started it at the beginning of the pandemic and I deposit $10/week. This is just “fun” money so if I lose, I lose. I figure there are worse ways to spend $10 a week.

 

[firefly_ris]

I have Robinhood that I just use for my "let's see where this one goes" sort of stocks, for short term trading I guess. I don't keep much in there. For long term investing I have an E-Trade account and my husband has a Schwab account.

 

[aprilgail]

I have a robinhood account. in April I bought 100 dollars worth of penny stocks just for fun. It is up to 400 now.

 

[_19disnA]

Never used any of those. Actually only heard of Robinhood recently but not the other two. Acorn apparently rounds up to the nearest dollar when credit card purchases are made and adds to your account. Didn't both investigating the other two. With any of these, you have to consider your financial situation and what is most important to you, since how you choose to invest isn't a one size fits all solution. Acorn charges a monthly fee for their 'service' which can be considerable percentage if your account has only a few dollars it. For those just getting into investing, it is easy to fall into the trap of thinking markets will always go up and when they do you can make money in virtually anything you invest in. However, experienced investors realize markets can go up as well as down and economic cycles can change quickly for a lot of unexpected reasons. Investing in something that happens to be in the news is an unreliable long-term investment strategy. Part of what you pay for with other investment firms is access to trained financial advisors who can offer input on various types of investment choices.