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The Best Investing App For Beginners 2024 (Complete Guide)
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- เผยแพร่เมื่อ 17 ส.ค. 2024
- Which investing service should you use to get started with stock market investing? Which app will help us make the most profits, save us money on taxes, give us multiple types of accounts, let us use fractional shares for investing, give us high-yield cash management AND do all of that in the easiest and simplest way possible? Today we rank these services to decide which is best for the beginner investor:
Public: share.public.c...
Wealthfront: www.wealthfron...
Acorns: www.acorns.com...
Betterment: www.betterment...
Vanguard: investor.vangu...
Ally: www.ally.com/i...
Robinhood: join.robinhood...
Webull: a.webull.com/T...
M1 Finance: m1.finance/td-...
Yotta: join.withyotta...
⏱Handy Timeline:
0:00 Good apps are hard to find
0:13 Apps we will rank today
0:31 6 Criteria for a great investing app
1:30 My background
1:44 Public
6:40 Wealthfront
11:07 Acorns
18:33 Betterment
29:32 Vanguard
38:47 Ally
40:41 Robinhood
48:55 Webull
53:50 M1 Finance
1:00:56 Yotta Savings
1:03:46 Verdict
1:05:16 Where to learn more about investing
1:06:48 Secrets
1:07:19 What do I do with my hands?
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#BrendanEvan
Disclaimer: Any financial or investing-related topics discussed on this channel are not from a professional investment advisor and are not financial advice for you. This is for entertainment and inspirational purposes only. Also please know that many of the links I have in video descriptions like this one are affiliate links which means I may be compensated by the company whom you do business with at no extra expense to you. Thank you for your support!
🕰Make sure to check the time stamps to navigate to the most interesting parts easily.
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📥Contact me here for business purposes: Brendan@brendanevan.com
Kudos to a man who has affiliate links but still gives you the honest break down no matter the criticisms. Thanks for the solid info 👍
I got tired of stressing about inflation and the economy and decided to start to build wealth for the future. I dont want to make a million overnight but build it overtime. I wish everyone doing the same the best. good luck to everyone
Team acorns
HOOP trophy
These comparison videos was the original reason I started watching your channel. Thanks for the content.
Schwab is still my fav. Completely free IRA, Brokerage, and Checking with no mins, and refunds all ATM fees.
No fractional index investors
Thank you Brendan I am currently watching the 3hr video on udemy and liking it so far. Your explanation is so in depth and simple to understand really looking forward to more as am new to all this.
Thanks!! I’m proud of the class and really hope it helps! Don’t forget to download or print the guide too!
Thank you for the video it helped understand better I appreciate your honesty ❤
Team M1 Finance 🤑
m1 finance here confirm some features should be more easy like buying or selling something that will work good its like swiping to left or righ to buy
I just found your channel, i subscribed. Great info
Thank you, you detailed it easy for better understanding and judgment. Learnt quite a lot.
By far, the best video breakdown ive seen of recommended brokerages. I love listening to someone on this topic and not be stuffed with hot button words while getting all of the information i need, as well as getting some of the finer details you could only get from a good friend or good content creator. Just started with M1 and immediately switching to Vanguard before my initial deposit clears. Thank you
Significant issue with Public. When you sell shares in a position, they consider fractional shares have no value.
I don't like moving my money around like that, but I nonetheless enjoy watching your informative videos. I sometimes play your videos in the background while I work. 👍 Oh, one more thing, buy gold or silver, but more so gold! 😂
Hey thanks!!
Trophy! I'm ready and want to get my tween started.
Very informative review. Thank you sir.
Congrats!!!! I'll be 36 in January! I won't be a millionaire though... I mean it's possible... but unlikely 😂! I'm at like 200k +/- ; it's moving alot atm 😅!
You’re still way ahead of the game Zak, and Happy Early Birthday!
Thanks!! 🥳
Why no Fidelity on this list?
Great presentation. Thaxxx for the upload im gonna try the course of yours i just got acorns today. I wish i would of started investing earlier in my life but as u said in another video its never to late to start
CONGRATS ON BEING A MILLIONARE
🙏
@@BrendanEvan God bless you and your family
Team M1!!!!
Thanks so much for this video. I'mm currently debt free, no mortgage working PT 2 days week, for some thats retirement goal. I need my money to do more for me.
you should have also clarified that wealthfront .25 only applies to their auto investing, which also does tax loss harvesting and other cool features. but picking your own stocks there is no fee. the tax-loss harvest is a big detail to include with that .25 charge.
trophy. You answered a boat load of questions for me. Thanks. When I start with one of these apps i will use your link because that is the way honest reviews are rewarded. You didn't hold back. Thanks again
Trophy. Thanks for the awesome breakdown!
Tigger liked this, Pooh was ambivalent. No trophy for you. The word for world is forest.
I appreciate this video!
Maybe M1 listened because they simplified their offering.
Best video on this topic I’ve found that’s resent and honest. Thank you
Oh yeah Poo Trophy 😅
Thanks!!
Let me ask you this, is it worth making another one of these as a sort of mid-year update?
Facilitated the video precisely
AMAZING content! Thanks!
m1 borrow is a feature you should learn about before you move out of m1
The one thing im suprised you didnt mention about webull is that its pre market and after market hours tend to be way longer than on robinhood
I'd like to make a correction in the video: There are NO fractional shares with Ally Invest.
Ooh you’re right! Thanks for this!!
Wish you had Etrade review
Let’s GO! Been waiting for this video!
🙌
I love the idea of Betterment, but it seems like a hefty cost to optimize for things like tax loss harvesting.
Thank you
So which one is the best? I want to invest in etfs/index funds and safe good yield bonds and have that money grow and set up a Roth IRA later since im a student.
I want to do acorns but not being allowed to add money to stocks until you sell doesn’t make any sense if you are supposed to let the money grow.
I also want to be able to buy fractional shares and have auto investing back into the stocks
Depends on you my friend. Idk what you mean by “not being allowed to add money to stocks until you sell” though. That doesn’t sound like any investing app I’ve ever heard of.
I use M1. The person who put me on to investing uses M1 so I stick with that. I like it. I’m satisfied
Glad you found what works for you!
Thanks ✨
Great video
👍
Acorns waiver is a big deal. Yeah it’s a direct deposit but if you are doing automatic deposits anyway and using it that way , why not? Can limit your payroll to just the 250 with your company in many cases, get that fee waived and have it automatically invest or sit at 3/5% apy.
Why wasn't fidelity on this list
Can’t test them all! But enough people have commented that I may have to add Fidelity in the next competition!
Also, Fidelity/Schwab/TOS doesn’t offer fractional shares and the menus take weeks to actually understand (coming from someone who works in Public Accounting)
@@utcfist4442fidelity absolutely offers fractional shares. They have for a long time now.
Disagree with fractional shares being a necessity. It's hardly a big deal. If you like everything else about the platform, stocks split. If a stock is so hot, like nvda and tesla was during pandemic, then just go with a lopsided portfolio and put the majority of your loot into that single stock. Not being able to afford 1 share is temporary. This shall pass. Be patient and you'll be swimming in 10 figures before long. Fractional shares are not going to get you to your goals any faster.
Trophy spouses are expensive.
Brendan, I appreciate your thoughts about stock lending. It was thoughtful and informative. I searched more for your credentials and background, and would like a link to your LinkedIn or professional bio please. thank you, Barbara
Is your class for beginners more for investment as an american , cause I saw you talk about 401k but I am interested in more world wide
Yeah the specifics are focused on American account types, but most of the class is about more universal concepts around investing. I’d say 75%+ is universal
TD Ameritrade was amazing.... That Schwab didn't aquire it too is criminal.
What about sofi is just same thing as ally?
Didn't public change their fees this last year? Before they had almost 0 fees and they charge fees on everything.
You’re probably right, I just reviewed their pricing page again ( public.com/disclosures/fee-schedule ) and don’t see anything crazy but I wonder if you’re thinking of the “Costs Associated with Investment Plans” fee section? Those look pesky and annoying.
@@BrendanEvan Correct! It's not a break the bank fee but still annoying! Considering when I joined them 2 years ago the ONLY fee was the optional tip.
Makes me feel a little screwed over for tipping them "so much" only for the fees to change now that I have money on the platform.
Great video! I'm back on the market for an app and this was just the video I needed!
@malec8517 Thanks!!!
Yeah this seems to be the norm for just about every technology based startup these days.
First 3 years: offer great stuff for very little money
Next 3 years: introduce small fees
Years 7,8,9: jack up the fees
lot of good info, but sadly I still don't have a clear idea of what company to go with
I don’t think you should just let someone else tell you where to put your money. Based on the info presented here, which app gives you what you’re looking for? What you want and like is different than what someone else wants.
I prefer examples than words.. make a table, get a board and write on it to actualy stock marker teaching... gl.
which app should i use if i were from the Pacific ?
POO. thanks for the information. ill take it into consideration when i switch the app im using
Hi Brendan, do you still feel M1 is not worth it ?
I like public App
On December 29 I sold 50 shares of bitforms and I didn't get my money from that trade
Trophy, thank you for sharing such valuable information
I want to know which of the Apps you mention, is showing fractional shares added, as soon dividend has been received. ??
I have a question to be honest Mr.Brendan I'm seeing 5% APY on banks and CD's etc. But is there anything you can invest in that gives you a higher yield that you could recommend please ,🙏 thank u
The stock market on average has given something like a 9% gain each year over a long period of time. More would be great but to do that you’re taking on a LOT more risk.
@@BrendanEvan thank you sir 🙏😃
Trophy!! Awesome
Public is the best
Can’t you just move the cash settled to the high yield account inside public yourself?
No mention of Acorns fee waiver with direct deposit? Seems like a pretty good setup for a beginner or am I missing something?
Yeah I mentioned it in the dedicated video about acorns but yeah it’s possible if you’re willing to direct deposit $250+. I’d rather not personally.
I’d like to hear your thought on SoFi
Enough people have requested it that I’m making the video! Thanks for your input. Probably could take up to a month to get enough info and personal experience to make something quality
Team m1
my issues with m1 is they don't have some ets or stocks that I need.
What's the ticker symbol for the SoFi weekly dividend ETF you invested in during the Robinhood demo?
Apparently it’s been removed from Robinhood, WKLY, I’m not recommending it
@BrendanEvan Damn. Can't have too much fun I guess.
Team Wealthfront!
👍👍
Gotta love their robo/tax loss harvesting investment account. Wealthfront 💯
what am I missing? Acorns starts at $5/month for the high yield savings. M1 Finance is only $3/month.
M1 finance just lowered their price about 2 weeks after I published this video
this guy is awesome..
You’re awesome
Ideas about both SoFi and Acorns together?
Whatever floats your boat
Thank you, which are USA based apps?
They’re all available for US investors, if you wanna know more background on each company, I’ll let you do the googling!
@@BrendanEvan Ok, I will research which ones our foreign based due to security risks.
Being new to investing, why use more than one app to start?
Oh it’s a pain to use more than one so you probably shouldn’t. I just wanted to rate a bunch for you here
Pooh and trophy 🎉
what app should i use to invest ?
Just watch this video 😑
What were your main holdings for the last 10 years that helped made you a millionaire?
That’s a great question, one is a total stock market index fund (like VTI) and the other main one are a couple different 2050 target date funds
Trophy!
Watched this for a whole hour just to realize that none of them are available in my country 🙂↔️
🙁 dangit
What about Stash ????
Trophy
Which is the best app?
Watch the video and find out what I like, then decide for yourself what fits your needs!
Trophy 🏆
🙌
Schwab? Fidelity?
I say fidelity
Team Robinhood baby !!
How do you not have fidelity? No affiliate link 🤔
I was hoping to see Fidelity too!
What is your P.O V. About Eqifund, Delphi and Elevate
Never heard of any of them
Poo... would have liked to seen bigger names here at least mentioned.... in a world of banks collapsing ect... who wants to invest with a mom and pop shop! Schwab and fidelity come to mind... its true, common sense not so common these days. Explain why
Trophy 🎉. Thxq
🙌
Why is fidelity not in here?
JC, thanks for watching! Can’t review every investing service but if there’s enough interest I could talk about Fidelity more!
@@BrendanEvan I'm trying to get back on track for investing! Where do you suggest? I was mostly gambling.
@JC-JC20 Hey it’s awesome you recognized it. Depends on how much you want to self regulate. If you want to be totally unable to gamble you could do Acorns. But you have to be ready to stop. I could share an M1 Pie that’s done really well for us if you still want some control but the platform isn’t made for gambling.
tophy!!!
Trophy 🙏
🙌
W vid
How tall are you?
6’5”
@@BrendanEvan I could tell when you walked by the truck that you were quite a bit taller than average.
trophy
Pooh Pooh Trophy 😅
if you die? I will skip that part.
🏆
🙌
Trophy or poo