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A smarter, free-er way to invest: M1 Finance

M1 Finance is an exciting iOs and Android app that gives you access to a fully customizable, completely fee-free investing portfolio. I have been using this app for a while now myself and I have to say it is excellent. In this post, I will go over all M1 Finance has to offer, and soon you may be a proud investor yourself!

In order to create an investment account, you need to have a bank account first. Any bank will work as long as you have your routing/account numbers. If you don’t have a checking account, and need an easy, free option, I recommend Chime Bank. Anyway, M1 will require a first time deposit of at least $100 – this is done as a security measure. After your first deposit, you can set a schedule for money to be added to your investment account. For example, mine is set to invest $5 every week on Tuesday. It does this automatically so I don’t have to worry about depositing money myself. Once you’ve funded your account, you’re ready to start customizing your portfolio.

To customize your portfolio, you can choose what you will invest in and what percentage each target will occupy. What you choose to invest in is up to you, and there are many exciting and promising options to invest in. You can choose individual stocks like Apple, Amazon, Facebook, Visa, Cisco, and many more. You can also select from a variety of funds, many of which are designed by experts to achieve a specific purpose. This gives you total flexibility with your portfolio; you can choose where every cent goes.

So, there it is! Give M1 a try and they will throw in a free $10 for new users (this is a good deal so try it while it lasts). You can always withdraw your money if you don’t like it, so there’s nothing to lose. What you can gain is a larger net worth and an improved method of saving money. And, like I say, it’s never too late to start investing, and the sooner you start the better off you’ll be.

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