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Small Investment Accounts - Stash, Acorns, Robinhood, etc.

CreditSweeper
Established Contributor

Small Investment Accounts - Stash, Acorns, Robinhood, etc.

I have my main brokerage account with Charles Schwab (awesome banking services too, but that’s another topic I suppose). Mainly out of curiosity and just for fun, I’ve been tossing small amounts of money into the smaller investment companies too. I’m currently have small amounts with Stash, Acorns and Robinhood.

Anyone have any experience with these types of companies? Thoughts on them? I haven’t decided yet if, or how long, I’ll continue to mess with them.

So far, my thoughts are:
Acorns - Kind of a set it and forget it type of account. A small amount of cash transfers to it every 2 weeks + I have a secondary bank account linked to it for round-up transfers. Doesn’t seem to be much else to it.

Robinhood - kind of seems to be on the upper end for the casual, self-investor. I’m not sure I’d really classify it as “small investment”, but I haven’t played with it too much yet.

Stash - this one seems to be the most fun for a casual investing experience and the one that has provided the biggest returns thus far.
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Message 1 of 9
8 REPLIES 8
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: Small Investment Accounts - Stash, Acorns, Robinhood, etc.

I use stash. It's simple and I can make moves quick. You just reminded me that my newest deposit went through today. I only put $50 a paycheck into it. I also agree that it made me the most money. My normal portfolio gets a constant 6%, but I've averaged near 10 with stash. That being said, I don't know if I would put a lot more money into it.




Message 2 of 9
SlayKallday
Established Member

Re: Small Investment Accounts - Stash, Acorns, Robinhood, etc.

I don't know about long term but I like trading crypto currency. It's fast, easy, lower fees, its sweet.
Message 3 of 9
Revelate
Moderator Emeritus

Re: Small Investment Accounts - Stash, Acorns, Robinhood, etc.


@SlayKallday wrote:
I don't know about long term but I like trading crypto currency. It's fast, easy, lower fees, its sweet.

I'm all for alternative investments but isn't this hugely speculative?  Also what is the fee structure on trading them?

 

I am likewise just not sure on fast and easy comparitively: my direct deposit landed very early this morning (like 12 am PST), was moved to my brokerage account by 1:30 am PST, and opened two new, small equity positions right after market open... all from my mobile app, with zero commissions (based on relationship with Chase).

 

Whole industry has gotten faster and there's continuing innovation on that front too: where are you seeing the speed increase with trading digital currencies in comparison?

 

 




        
Message 4 of 9
SlayKallday
Established Member

Re: Small Investment Accounts - Stash, Acorns, Robinhood, etc.

Most of them like Bitcoin you set your own fee which determines how much your transaction cost and the speed at which gear currency hits your wallet or wherever you're sending it. There are no commissions, there are no open and closed markets schedule-wise, and you don't need a credit check or a lot of identification or things such as this just start at an online Exchange. It's a better, more in reach investing option for any of the tens of millions of bankless Americans who don't have access to the stock market, enough time to gain understanding have technical analysis and all that goes into it, and can't tolerate the risk inherent.

I'm not saying crypto is a viable option for investment, but it's easy to day trade and make money and accessible to anyone worldwide any time of the day for a lot less money.

After all the stocks scandals that seemingly come out every week I don't know how anyone can invest more than $5 in there. But to each his own I recognized that my investor confidence is less than most.
Message 5 of 9
wasCB14
Super Contributor

Re: Small Investment Accounts - Stash, Acorns, Robinhood, etc.

Keep in mind that having a bunch of tax lots for several different securities may mean a headache reviewing it all when you sell.
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Message 6 of 9
Revelate
Moderator Emeritus

Re: Small Investment Accounts - Stash, Acorns, Robinhood, etc.


@wasCB14 wrote:
Keep in mind that having a bunch of tax lots for several different securities may mean a headache reviewing it all when you sell.

All comes in at the end with what the brokerage reports to the IRS, I don't find it that complicated personally but I guess other's mileage may vary.  I'm still sitting on a stupid trade where I didn't use a limit and picked up 2 x Tesla shares for like 800 each (le sigh), saving those for when I need some tax loss harvesting hah.

 

Slay: there's zero chance that equities, especially with the low-cost ETF option so many consumers are using these days, are a riskier investment than something like Bitcoin or the rest of the digital currencies.

 

I don't know any investment professional that would disagree with that assertion either.

 

 




        
Message 7 of 9
Caardvark
Frequent Contributor

Re: Small Investment Accounts - Stash, Acorns, Robinhood, etc.

I used to use Robinhood and liked it but I switched to M1 Finance because you can buy fractional shares. 


Message 8 of 9
wasCB14
Super Contributor

Re: Small Investment Accounts - Stash, Acorns, Robinhood, etc.


@Revelate wrote:

@wasCB14 wrote:
Keep in mind that having a bunch of tax lots for several different securities may mean a headache reviewing it all when you sell.

All comes in at the end with what the brokerage reports to the IRS, I don't find it that complicated personally but I guess other's mileage may vary.  I'm still sitting on a stupid trade where I didn't use a limit and picked up 2 x Tesla shares for like 800 each (le sigh), saving those for when I need some tax loss harvesting hah.

 

Slay: there's zero chance that equities, especially with the low-cost ETF option so many consumers are using these days, are a riskier investment than something like Bitcoin or the rest of the digital currencies.

 

I don't know any investment professional that would disagree with that assertion either.

 

 


Brokerages can make mistakes with 1099s, and tax software can make mistakes when importing the info. It's always good to check the accuracy.

 

Equities derive their value from earnings and often dividends. REITs derive their value from rents. Crypto currencies have the same flaw that crypto enthusiasts point out in fiat currency: just as people can lose faith in one government's currency, crypto investors can always move on to another crypto currency - and there have been many new ones.

 

That said, I concentrate in a few companies with fortress financials and clear alignment of interests. I'd rather have half my liquid net worth in Berkshire Hathaway than diversify across a bunch of companies with mediocre financials, transparency, and management.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 9 of 9
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