Let's face it, we all need more money and one possible way to do that is investing in the stock market. But if you thought it was super risky and super expensive, there are a few companies out there making investing a lot less intimidating. The List’s Jimmy Rhoades is turning Wall Street into easy street? Jimmy, What's The Deal?
- Acorns - It's a financial service that rounds your debit or credit card transactions up to the nearest dollar -- investing the change into a diverse portfolio. They use "exchange traded funds" -- automatically recommending stocks based on information like your age, investment goals, and the amount of risk you're willing to take. No minimums, no commissions, and an app that does it all makes acorns a great way for young squirrels to tuck away a nut for the winter.
- Stockpile - It's the world’s first gift card for stocks, sold in neighborhood stores like Safeway or Kmart. The cards feature a variety of popular companies and with dollar values starting at just 10 bucks. You'll have to pay some additional costs associated with investing but, that's only so the recipient doesn't have to pay them once they're redeemed. It makes a great gift for kids, so aspiring Warren Buffets, this could be your ticket to Wall Street.
- Motif Investing - Investors pick a theme or "motifs" which are baskets of up to 30 stocks or exchange-traded funds. Choose from hundreds of professionally-built themes such as energy, wearable tech, sports... And if you're feeling market savvy, you can create your own Motif and share it. If other people invest in your motif, you receive a royalty! It costs $250 to start plus a commission fee of $9.95.
Making you a wolf of Wall Street, on What’s The Deal.