The fintech revolution is here and investment apps are leading the charge.
This proved to be a perfect environment for app use to accelerate especially among new and young investors.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
Competition among apps is hot. Here’s our rundown of thebest investment appsfor every type of investor.
This is a long list, so dont get overwhelmed.
Go ahead and start now, but be sure to bookmark this post so you might easily return later.
Well keep it updated as offers changes or expire.
Covid-19 Spurs New Wave of Investment App Users
Investment apps arent new.
Yet 71% of survey respondents aged 18-24 got started in 2020 or 2021.
Of those age groups, 67% began using an app in the last two years.
Only 21% said they were very experienced when they took the investment app plunge.
Robo-advisors like Betterment and Wealthfront offer this throw in of service.
But they are starting small.
Over half (52%) reported having less than $1,000 invested in an app.
Only 24% said they have $5,000 or more at work in any given investment app.
Investing apps are drawing investors of all income levels.
Not surprisingly, higher income earners are more familiar with investing overall.
Are Users Making Risky Decisions With Investment Apps?
It also goes against tried-and-truelonger-term investing principles.
Will the Investment App Revolution Continue?
Investment apps have carved out their spot in the fintech revolution but are they here to stay?
Investors seem to think so.
Nearly two-thirds (66%) said they planned to try a new investing app this year.
Rachel Christian is a Certified Educator in Personal Finance and a senior writer for The Penny Hoarder.
Responses were weighted for age and gender so that each response is representative of the U.S. population.
The overall surveys margin of error is +-2 percentage points at a 95% confidence interval.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
