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You don't need a lot of money to start investing and building wealth. You can start investing with as little as $5. For people who may have very limited funds and prefer a passive or a hands-off investment approach, micro investing may be a good option. Here's why this investing strategy may be right for you.
What is micro investing?
Micro investing is an investment strategy that makes it easy for people to start investing regularly with very small amounts of money. This investment style removes traditional investment barriers, such as brokerage account minimums, transaction fees, among others.
How micro investing work
Most micro investing platforms work the same way. They all use a simple app to allow automatic or passive investing. Examples of micro investing apps include Acorns, Stash Invest, Betterment, Robinhood, WiseBanyan, Clink, Stockpile, among others. With micro investing, investing is automated.
Why we recommend Acorns
When it comes to micro investing, Acorns is one of the most prominent players. Founded in 2012, Acorns has been gaining steam, and allows you to sign up and create an investment account in just under 5 minutes! In fact, 4,000,000 people have already joined Acorns! Here are some of the features of Acorns that we particularly like:
The bottom line
Micro investing may be the best investment strategy for the individual who prefers a more passive investment strategy. This style of investment allows anyone to invest with a very small amount of money. Professionals handle everything after you set up your account. Micro investing removes traditional investment barriers, such as brokerage fees, transaction fees and investment minimums. With micro investing, all you need is a smart phone and an app. There are many micro investing apps, but we recommend Acorns. Start building wealth with Acorns with just $5.
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