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Let’s talk about the top 10 investing apps of 2020. What are the best investing apps? These are the best apps for investing in the stock market, real estate, digital currencies, investing for beginners and for people that live outside the US. Anyone who’s interesting in building passive income needs to have these apps on their smartphone. Let’s start the countdown:
BEST FOR BUDGETING AND SAVING
10. Mint – What I really like about this app is how it lets you organize every transaction you make and label it into separate parts which is really useful because then you’ll see where you’re money you’re probably wasting. Another reason why I love this app is because it shows you your credit score automagically and gives you alerts when it senses that you spent more money than you typically do. I think it is hands down the best tool for tracking how you’re spending your money and how much money you’re actually making.
9. Personal Capital – This app is also completely free, and it’s extremely popular with over 2 million people using it. This app is much more powerful than Mint because it lets you take action because it integrates your investment accounts as well so you can actually see how you’re doing in relationship to your retirement goals.
8. Acorns – The reason Acorns is awesome is because it rounds up your purchase to the nearest dollar, then it takes that difference from your checking account, and then deposits it into the Acorns app where that money is then invested. Once you buy something for (example $4.95) it’s going to round up to $5 and save five cents and put in a holding account, where it would then be distributed among your investments. The best parts of this app is that it’s clean, it’s simple, easy to use, great for beginners but there is a couple downsides to this app. The downside is you can’t pick stocks and the fee structure is very expensive in relation to the balance for beginner investors.
7. Wealthfront – is awesome because it takes everything you need to know about investing and just does it for you automatically because it takes your money, and invests it across different types of assets automagically from individual stocks to ETFs. The downside is that it takes it has a small fee 0.25% which means for every $100,000 you invest, you’ll pay $250 a year. The other downside is it has a minimum investment requirement of $500 but it’s worth it.
6. Vanguard – I started investing way back in 2012 with Vanguard and I followed one of the best pieces of advice I got about investing in the stock market which was just to buy the biggest mutual fund in the world – VTSAX. If you’ve ever heard of index fund investing and how it’s the best thing you can ever do, this is the best place to do it. The best traditional brokerage for investing with index funds. Thank you John Bogle!
5. Fidelity – The next one on this list is the best brokerage for retirement accounts, these are your IRAs and 401ks. If you ever heard of the ROTH, or the Traditional IRA, that’s what I’m talking about. Fidelity is known to have the best fill orders in the stock market which means you’ll get the best and cheapest stock prices.
4. Interactive Brokers -The best brokerage for international investors or people looking to invest outside the US. Be careful of fees which vary from country to country.
3. M1 Finance – I love M1 Finance, it’s got a really sleek design. It uses a very different system because it has what’s known as the pie. The downside of the app is no control over when you buy stocks unless you pay for premium service.
2. Robinhood. The app that started it all, investing made simple and free. Unfortunately they had a lot of hiccups this year but overall a tremendously useful and beginner friendly all around investing app.
1. WeBull. Every feature you could ever want. Downside? Complex UI.
*None of this is meant to be construed as investment advice, it’s for entertainment purposes only. Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.