If you have been negligent about setting up your own nest egg for the day you get to retire, a new app is now available for the Android platform to help you get started. Aimed in particular at millenials or at others who find the idea of investing to be too confusing or scary, Stash aims to make investing easy and without requiring a lot of capital upfront. The Stash for Android app is now available in the Play Store.
Stash has taken a couple steps to try to make investing easier. They do this because research suggests around 80% of individuals age 18-34 do not invest even though they are in a position to one day realize a huge windfall. The first step is to make use of fractional shares which enables investments of as small as $5. The second step is to make use of Exchange Traded Funds. Although there are approximately 1,500 ETFs available in the market, Stash only offers about 30 or so based on a variety of themes and risk tolerance levels. Stash has even adopted names for the ETFs to try to make them easier to understand. For example, an investment in a group of the largest, most well-known companies is called the “Blue Chips” option while another that focuses on aerospace and defense industry companies going by the name “Defending America.”
Stash is currently offering a free three-month promo to use the service for free while users learn their way around. After that, the fee increases to a mere $1 per month up to an account size of $5,000. After that, Stash charges 0.25% of the account balance per year. Stash does not charge any fees for buying or selling investments.
To get started, hit the link to the Play Store below.