In the groove to self-improve?
Invest! It’s a great way to tone up your money
This week, MoneyLion members got their money in shape by learning more about investing. The earlier you start investing, the more potential you may have to maximize your money!
And your Financial Heartbeat tool (the fitness tracker for your money in the MoneyLion app) tracks your investing under the “SAVE” tab, so the amount you invest contributes to your overall Financial Heartbeat score.
5 tips to shape up your investments
1. Invest the money you don’t spend. Looking for a place to stash your extra cash and help it grow? Try a Managed Investment account from MoneyLion. (Tweet this)
MoneyLion doesn’t require a minimum investment. No experience is needed, either — roughly 90% of MoneyLion members are first-time investors! Just download the app and sign up for a simpler way to invest.
2. Know your risk tolerance. That’s the amount of ups and downs you’re willing to endure as you strive to grow your investments over time. Let MoneyLion help you understand yours. (Tweet this)
To determine you risk tolerance, MoneyLion will help take into account your comfort zone and your timeline. Usually, for short-term goals, investors may invest more conservatively, and for longer-term goals, they may invest more aggressively.
It’s also a good idea to think about your income and savings. The more you make and have saved, typically the more you can afford to risk and vice versa.
3. Play with your portfolio. Invest with MoneyLion, and you can use the app’s Risk Slider to see how your investment mix would change if you went from conservative to aggressive. (Tweet this)
What makes a portfolio conservative vs. aggressive? The answer is stocks vs. bonds! The higher your proportion of stocks, the more aggressive your portfolio will be. And a higher proportion of bonds makes your portfolio more conservative.
4. Take a breath before spending. Not sure if you need it? Think about it for a day. Better yet, let MoneyLion help you invest it instead! (Tweet this)
It’s one thing to resist spending, but stashing the money away for your future will go far to improve your financial wellness.
5. Review your returns. Getting motion sickness from the ups and downs of the market? Those highs and lows are normal. A diversified portfolio from MoneyLion can help you invest wisely. (Tweet this)
It’s good to keep an eye on your returns to see how the market is doing, but generally, staying the course even during the lows is usually your best bet.
Start investing in yourself today
MoneyLion’s fully managed investment account is an easy way to start investing! No minimums or management fees and no experience required. Learn more!
NO PURCHASE NECESSARY TO ENTER MONEY FITNESS CHALLENGE. Void where prohibited. Sweepstakes open to legal residents of the 50 U.S. states and D.C. 18 years of age or older as of date of entry. Begins 12:00 AM ET 9/1/19; ends 11:59 PM ET 9/27/19. For complete Official Rules and eligibility, visit the Official Rules. Sponsor: MoneyLion Inc.
MoneyLion Checking Account provided by, and MoneyLion Visa® Debit Card issued by, Lincoln Savings Bank, Member FDIC. Terms and conditions apply.
Investment advisory services provided by ML Wealth, LLC. Investment Accounts Are Not FDIC Insured • No Bank Guarantee • Investments May Lose Value. For important information and disclaimers relating to the MoneyLion Investment Account, see Investment Account FAQs and FORM ADV. Broker-Dealer may charge a $0.25 withdrawal fee, among other fees. Funded accounts are subject to administrative fee of $1 per quarter.