Is College Too Young to Start Investing?
If you’re a college student looking for ways to invest in your financial future, you don’t have to wait! If so, there are several ways you can learn about investing and how to manage your money — without ever leaving your dorm room. Check out how to save and earn more money by starting new habits that will improve your financial health.
How to Invest in College with MoneyLion
MoneyLion’s app is a great place to start investing in college because we offer fully managed investment accounts with no minimum investment, and you don’t have to pay a dime for the service. You can add or withdraw funds when it suits you and choose how aggressive or conservative you want to be with your investments.
Why start investing in college? Well, say you deposit $25 each month. After 10 years, that could have added up to $3,000! Then add in the projected investment returns and compounding interest, and you could be sitting pretty before you’re even 30!
If you’re looking for a simple, noncommittal way to help grow your money in the financial markets while you’re in college, MoneyLion is the place to start.
Managed Investing for College Students
College classes demand a ton of your time and energy, so that’s why a fully managed investment account is a great option as a college student. MoneyLion offers a managed investment option at no cost to you. We’ll select your investments, make your trades, rebalance your account — everything. Of course, we start by asking you a few questions in the app about your preferences and goals to design a personalized portfolio first.
You can sign up in minutes, and all you have to do is add money when you’re ready and set your preferences based on your financial goals – that’s it! MoneyLion does the rest by managing your portfolio and moving shares around to help manage your investment account. You can even set up Auto Invest to put your future-building on repeat. You have enough to remember in college, so let Auto Invest remember to invest for you.
No Investment Minimums
Being a college student generally means you don’t have a career that brings in the cash quick. You might be thinking, “How can I invest when I can barely afford my living situation?” That’s where no minimum investing comes into play. It’s a perfect fit for college students who want to invest.
You want to keep it slow and steady, and this is the perfect avenue to do just that. MoneyLion is a great option for starting an account with as much as you can or want to. Even if that’s just $5, you’re still taking a step in the right direction.
Low-Cost ETFs for College Kids
ETF stands for Exchange-Traded Fund. It’s an investment type that works by holding assets like stocks and bonds. Starting with low-cost, lower-volatility ETFs would make sense for you because you have time on your side and you’re just beginning your investment journey. Many investors of all levels of sophistication choose ETFs because they can allow the investor to access a diversified variety of investments with lower costs and risks.
Invest in Tomorrow While in College
Starting your investing journey in college is a wise choice. You might not have a ton of extra cash, but starting in college gives you the best chance of capitalizing on compound growth for years and years. That’s when you earn interest on top of the interest your money earns. Compound interest can grow your money exponentially over time. The more time you have to invest, the better! And time is on your side when you’re a spring chicken in college.
Take some time to look over your options and learn about the ways that you can start saving. If you feel too bogged down by college responsibilities, then sign up for a fully managed investment account with no minimums and let the financial professionals do the work for you!