Here’s How You Can Invest In Your Child’s Future for Under A Dollar
As a mom, I want my kids to have the best start on life and be able to live without the worry of money or being put into debt for the sake of having a brighter future.
It is something I wish my parents had done for me.
Honestly, I know NOTHING about investing but I do know, it is a good thing to do especially if I want to invest in my child’s future.
Luckily, I found this app call Robinhood (you’ve probably heard the commercials) and not only do they really dumb things down for people who know nothing about investing (like myself), but they even give you your first stock for FREE.
And I am obsessed.
When I was deciding which stock market investing app to use, I did a ton of research into online brokers, and every single time I discovered that Robinhood was the best investing app on the market right now.
Aside from your first stock free, you can invest in more stocks for just $1. Yes, a dollar.
Instead of heading to the dollar store with your kids, tell them they can spend half of their allowance investing in their future.
Sure, they may not know what that means just yet but I promise you, one day they will thank you for not letting them waste that money on dollar toys that will break after 2 hours of play.
What is the Robinhood app?
The Robinhood app is a trading platform that lets you trade commission free stocks, apps, and even crypto currency with zero commission fees all from your phone. (You can download it here.)
Oh, and the cool thing is, if you use this link, you start out with a free stock. My first stock was PLUG. And it’s so fancy.
Is there a minimum amount of money to invest for Robinhood?
Nope, you can use the stock trading app for as little as a dollar. I started out with a hundred dollars, just so I could play with some money and see what happens.
So far, I’ve purchased all sorts of cool stocks. I even bought some in Fitbit! Because, hey it’s the beginning of the year, and people like being fit, right?
Robinhood offers stocks and etfs and even cryptocurrency. (I am so excited about Robinhood Crypto.) They even have some cash management options, and a debit card so it’s basically a full service app with all sorts of financial products and options trading for the beginner investor.
Does Robinhood have fees?
No. There aren’t any commission fees, and that’s what makes it so cool. It’s perfect for someone like me who is just beginning to start trading on the stock market and to invest in stocks. They do have a program called Robinhood Gold, but honestly I haven’t seen any need for it.
Is Robinhood safe?
Yes, Robinhood financial llc member is backed by FDIC and all sorts of other safety stuff, so you can be sure your money is okay over there in your brokerage account. That’s always a huge worry for me. Their customer service is pretty good, too. I’ve had to email and they’re responsive and helpful.
Should you try out Robinhood?
Heck yeah you should. Even if you’ve never traded a stock in your whole life, it’s fun and super easy. And remember if you use this link to download the app, you get a free stock just for getting your account all set up.
Basically, it is FREE investing at this point and the best thing that could happen is you invest in your child’s future without ever spending a dime. How cool is that?
