Looking to get a head start investing, but you aren’t sure where to start? Maybe you’re looking at different investment options from stocks and bonds to real estate. The only problem is that your bank account hasn’t quite caught up with your ambition. Not to worry, there are plenty of low-cost options to get your investment journey started.
How To Find Stocks Under $20
Starting your investment portfolio seems like a gigantic undertaking for the newbie investor. You might be intimidated by the finance lingo and have no clue where to begin. You may be thinking to yourself “I’ll do it later when I have time to figure it out”.
For most, that time never comes. Or perhaps, you don’t have loads of cash sitting around to invest. That’s exactly why MoneyLion created a fully managed investment account that is customizable to everyone from beginner to the seasoned investor.
Want to know more? Below we will walk you through our how-to guide to get started today.
Get a Fully Managed Investment Account
We’ve teamed up with Wilshire Associates, a leader in the investment industry with 30-years of expertise, to develop your strategy based on a few questions you answer in the MoneyLion app to help us determine your investment tolerance.
We will recommend the best portfolio for you, and you can accept it or make adjustments. We offer a range of portfolios from ultra-conservative investing to an aggressive approach.
Once you’ve narrowed down your strategy, your personalized portfolio will be a mix of stock and bond ETFs. For only $1 monthly, you’ll have access to expert advice and investment management with no minimum requirements, and you can add or withdraw funds anytime you’d like.
Based on your level of risk tolerance, there are seven core portfolios:
- Steady Income
- Moderately Conservative
- Moderately Aggressive
- Equity Only
After your portfolio strategy is selected, sign up for auto-investing with recurring deposits, and watch your investments grow.
Search the Market
Sorting, researching, and selecting stocks on your own isn’t for the faint of heart. It takes time, education, and due diligence to ensure you’re investing wisely – which is why brokers charge so much. Also, this route requires you to open a brokerage account that will allow you to purchase single stocks. These brokerages often charge all sorts of fees, commissions, and have minimums requirements.
When looking for low-cost stocks to invest in, a good place to start is with companies you know and trust. If you are already using the product or service, you’ll feel more comfortable investing in something you believe in. At MoneyLion, we offer thematic sets of ETFs that align with your passions and interests, and there’s no added cost to add them to your portfolio.
Can I Invest $20 Today?
Yes, you can start investing today with as little as $20. Once you download the MoneyLion app, you’ll have access to a suite of finance products available within minutes. Follow our steps below to open up your investment account with MoneyLion.
- Download the MoneyLion App
- Open Investment Account – Click on the finances tab and select Investment Account.
- Select Portfolio Strategy – MoneyLion will ask you a few questions to determine your risk tolerance, investment goals, and comfort zone and recommend a portfolio for you. There are no right or wrong answers and you can change your strategy at any time.
- Review Your Portfolio – Once you’re set up with a strategy based on the answers you provided, you can start transferring funds from your linked account to invest.
- Read and Sign Documents – Overview your legal agreements for your accounts.
- Add Funds – Start investing by adding funds from your linked account.
- Set Up Auto- Invest – Effortlessly grow your money from auto deposits–every dollar counts!
- Monitor Your Money – Utilize the MoneyLion app to track finances and manage your investment portfolio.
Invest $20 Today!
Don’t allow your life to pass you by thinking that someday you will start planning for the future. Let today be that “someday”!
You don’t have to be a wolf on Wall Street to begin investing, you just have to start. MoneyLion investment accounts have no account minimums and costs just $1 a month for fully management, trading, and rebalancing services. Invest as little or aggressively as you’d like based on your comfort zone.
In fact, most of our customers are first-time investors, and our personalized approach gives them the flexibility and confidence they are looking for. We take all the guesswork out of the decision-making process and allow you to effortlessly invest in your future. You’re only a few minutes away from taking the next step toward a better financial future!
Download the MoneyLion app today to get started.