Stash Review:
Click “Show More” to see my Favorite Financial Tools
▽MY FINANCIAL TOOLS▽
🏦 SoFi Complete Money Management
➤ Checking & Savings - magnified.revi...
➤ Credit Card - magnified.revi...
➤ Invest - magnified.revi...
➤ Budgeting - magnified.revi...
----------
💰 Chime Fully Online Banking
➤ Sign-Up for Chime HERE: magnified.revi...
➤ Chime Credit Builder HERE: magnified.revi...
----------
💳 Favorite Credit Cards
➤ Chase Sapphire - magnified.revi...
➤ Capital One Venture X - magnified.revi...
➤ Chase Ink Business - magnified.revi...
➤ Amex Green - magnified.revi...
➤ Amex Platinum - magnified.revi...
➤ Amex Business Gold - magnified.revi...
----------
📊 Wealthfront Automated Investing
➤ First $5,000 Managed for FREE - magnified.revi...
----------
💵 Current Card
➤ Current | Modern Banking App - magnified.revi...
----------
📸 MY CAMERA GEAR
➤ My Camera: magnified.revi...
➤ My Microphone: magnified.revi...
➤ My Lights: magnified.revi...
So first of all, where does Stash fit into the realm of investing platforms, and by that I mean is it a do everything yourself platform like TD Ameritrade or is it more like Wealthfront where they are literally going to invest everything for you. Well, the thing about Stash that I really like is it actually falls right in between those two options because they aren't going to literally buy and sell stocks and ETF's for you but they are going to make catered recommendations on what investments might be best for your investing goals.
Focusing on the investing side of things, for now, once you answer a few questions, you will then have to pick which stash plan you would like to sign up for. You probably see where I'm going with this but unfortunately, Stash is not free and currently, they have 3 different plans starting with stash beginner which is $1.00 per month and gives you all of the basic financial tools from the Stash platform, Stash growth which is $3 per month and ads retirement account options, and stash plus which is $9 per month and gives you custodial accounts for your children and a number of additional benefits as well.
Once you answer those questions we talked about earlier, pick which plan is best for you, and add money to the Stash platform, they are then going to help you invest on your terms meaning they are going to make catered recommendations to you but you're able to invest in particular industries, pinpoint ETF's or companies that you want to invest in, or even find mission-driven portfolio options that closely align with your financial goals and where you want to be investing your money. Now while this is not an automated investing platform in the sense that they are not going to buy and sell different assets for you, they do have a few automated features including their dividend reinvestment program, portfolio rebalancing options with their smart portfolios, and a round-up feature that will round up your purchases on your stash debit card and invest that money for you.
The banking platform as a whole is pretty basic but the main part that I want to talk about is that stock back feature because this is truly unique and I have not seen this from any other company. So like I said, you get your stash debit card and when you spend money on that card, you are going to get stock back from the company where you spent that money. So if you go and spend money on Amazon, then instead of getting cash back you are actually going to get Amazon stock put right into your investment portfolio and again this comes with all three of the stash plans that we talked about earlier.
So overall, I think the structure of the stash platform is really good and it has a lot of potential, but in my opinion, it just falls short in a lot of major areas especially when compared to similar platforms. If you ask me, the biggest deal-breaker here is that monthly fee that they charge because even if you have $100,000 invested with stash meaning you're paying just 0.25%, that is still the exact same fee that platforms like Wealthfront and betterment charge and again those platforms offer so much more as far as automated investing is concerned.
Music from Epidemic Sound
Magnified Money may receive compensation for sending traffic to partnered sites. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers.
The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.
18 сен 2024
