Stash is an easy to use and educative investment app for stock portfolios. They also recently launched Stash Retire.
I have been trying out both for about 6 months now, and even with the aspects I don’t like about Stash, it really is a true winner in my opinion.
Here is the short:
- Stash is available on Apple and Android.
- Stash is easy to use.
- Stash says it charges no fees, but there are some hidden fees (monthly subscription charges of $1 or more depending on your investment.)
- Stash motivates you to save and invest at the same time by allowing you to initiate “auto stash” and deposit money in your account each week.
- Stash has great details on account portfolios and with the stock market high currently, is an easy way that I made $20 in months on a $500 investment.
Now, just because I got lucky doesn’t mean you should put all of your eggs in one basket. Even if you use Stash, you’ll find there are multiple portfolios to choose from and all with differing risks. I placed my funds in three different types of funds. One very conservative, one moderate, and one high risk. I did this because my intention for using stash was to find a fun way to save money and be motivated by watching it grow. Unfortunately, I have never been one of those people who gets joy out of putting money in a savings account or saving cash. Stash was an alternative for me to get serious with finances and to learn more about investing. I say this because if you are a rockstar investor, stash is likely not your favorite app. I have known many friends to use it as well as other stock apps and methods. However, it may not give you the holistic view of the market, and doesn’t allow you to follow companies.
Here is a snapshot from the App Store of what Stash has to offer.
The great thing is that if you are interested in trying the app, you can use my code here and sign up and get $5 to start. (I will also get $5 so I should be thanking you if you do). You can also visit my link.
I highly recommend that if you are thinking of trying Stash, or other investment apps, that you have a safety fund set aside, as it is not easy to get your cash out. You must sell first and then it takes 5 days to retrieve. I also recommend that you give the app time, it doesn’t grow quickly, as you are paid smaller percentages because you are investing collectively for part of the entire “Stash community”’s share hold. Plus, to really have the full experience, you need to give it time.
My final piece of advice with stash is that you shouldn’t expect to gain money and should note that it could be a loss. If you start losing a significant amount and feel you can’t wait until the market rises (because you know, it’s a risky market), you should probably go ahead and take your money out. I also recommend that you keep this mentality in your head that you were doing this to learn and to save versus to “earn big buck”.
Stash is an educated stock community designed with minimal portfolios to invest in so you can learn and understand the process behind the market and get more money in interest (as of now with the market anyways) than a savings account.
I’m not an expert by any means, but if you do have questions, I would be happy to answer them.
Feel free to comment with questions below or send me an email!
Thanks for taking time to learn and let me share about how stash has helped me become more engaged with the stock market.
Cheers – Jonna