Thoughts on apps like Robinhood and acorn? Do any of you use them to invest or do you prefer an advisor? What are your methods?

[DreamLife7]

Robinhood

Acorn

Both

Other

[MikeTheBartender]

Most of the mainstream platforms nowadays offer free trading. I use Schwab for trading. Two real great books to read, the psychology of money, and the simple plan to wealth. I've made good money, but if I had read these books earlier, I think my wealth would be double. They are super easy to read, 8 hours tops. I have had friends ask me to get involved with financial planning, but I have said no because my advice is just too simple. These books will sum it up. ;)

[SixFootSexy]

App based investing usually have some of the highest fees, therefore you're better off using a "real bank" that's more established and has lower fees for way higher profits in the longterm.

[Static_In_The_Attic]

As for me I used to invest with Scottrade & TD AMERITRADE bought them out & now I invest with Charles SCHWAB because that company bought out TD AMERITRADE.

A few of my friend invested with Robinhood & they also have Charles SCHWAB too.

If you live in the United States I’m sure there is a Charles SCHWAB office near you.

[DreamLife7]

What risk level are u and how much have u gained in a year

[Static_In_The_Attic]

Like playing the lottery you have to be in it to have a chance to win it. On the other side of things I’m going to give you a little tip. DON’T INVEST WHAT YOU AREN’T WILLING TO LOSE. If you have a few EXTRA & I mean EXTRA dollars invest 100 here, a hundred there, maybe 500 on something & let it roll. If the stock price goes up no problem & if it goes down who cares you took a chance. As for my risk level I go all in & let it roll. You have long term stocks & you have short term stocks & if you sell your shares under a year it’s considered short term. If you have capital gains just remember you are going to have to pay taxes on those gains & if you take a loss you can also claim a loss. As for how much I gain a year I don’t look at it that way. I look at the individual trade. Most of my stocks I buy & after a year if it’s up I sell & if it’s down I let it roll.

[Static_In_The_Attic]

Overall I’m up & my last hit made up for all my losses in the past & I’m still in the plus.

[MarkDown]

Not heard of Robinhood till now I thought about looking into Acorn but not sure how either of them work.

[Zestyassmf1997]

I just go through my bank. It’s more convenient.

[strateguy632]

risky. 2. no.