Top 5 Investing Apps for Beginners
If you're savvy when it comes to apps but could use some direction in your investing game, combine the two and go from investing newbie to knowledgeable with tips you can tap into. Entering into the world of investing can be daunting, so invest your time before you invest your hard-earned dough. These 5 apps for investing beginners will lead you in the right direction. Invest with the best!
MoneyLion PlusVia crowdfundinsider.com
MoneyLionPlus is an app that is designed to help you borrow, save, reduce debt, invest, and earn. You'll learn the basics of landing a loan, keep up to date on your credit score as you monitor your credit history and charges, and have a neat place to store all your financial information securely. With personalized financial advice and a guided investing plan, you will begin to develop your investment portfolio and allocation. Step by step, you will become tuned in to how investing works and what works for you. And now's a great time to improve your investing know-how with MoneyLion Plus. According to Tech Crunch, "The latest version of the MoneyLion Plus app has an updated user interface to make things easier to navigate and provide faster access to the information. With its new UI, MoneyLion's home navigation now shows swipe-able cards to provide up-to-date information, recommendations and personalized advice." For $29 per month, this app will pay for itself… and then some.
Learn the ins and outs of the stock market for free with the aid of Robinhoodapp. The app leads you step by step as you build your portfolio from scratch. Invest in stocks, options, and ETFs (exchange-traded funds). Their mission? "To democratize America's financial system. Invest in stocks, ETFs, options, and cryptocurrencies commission-free." Make instant deposits with no wait time. You can boost your account by opting for Robinhood Gold. According to Business Insider, this account, "gives you access to extra buying power, larger instant deposits, and extended trading hours." Robinhood is easy-to-navigate helping you see market data clearly for making wise investment choices. As per The Finance Genie, "It's fast and streamlined so you can instantly verify your bank account and check on your investments or make trades with only a few taps." There is no account minimum to start, so what are you waiting for?
If you've got five bucks, you can begin your introduction to investing with Stash, anSEC registered investment adviser. Sign up is simple as you fill out your profile, and you will instantly gain access to 30+ investment options along with customized advice from your Stash Coach to help you set up your portfolio. All investments on the Stash app are carefully selected by their team. Everything is broken down and easy to digest, without unfamiliar terminology or confusion to trip you up. Their selection of ETFs is broken down by interest (activist, techie, globetrotter, trendsetter, etc.), so you can invest in companies that matter most to you. Stash's mission, "We believe everyone should have access to financial education, technology, and services that help them achieve their life goals," only furthers your faith in the Stash app and the knowledgeable team behind it.
Acorns Via bankers-anonymous.com
Acorns is great for beginners or anyone who wants to start investing now, even if they don't have much money at the get-go. Just $1 per month will get you on your way. Acorns' micro-investing platform is a three-step entry process – connect your banking/credit card(s), make purchases as usual, and the app will start investing your spare change left over as they round up your purchases to the dollar. 7,000 stocks and bonds are available for investing, to "improve your return while reducing risk." You'll create a portfolio designed in part by a Nobel Prize-winning economist to manage your investments in an organized and professional manner. With the app comes Grow Magazine, so you can continue to learn more about investing as you delve deeper into the financial world. CNBC calls Acorn, "The new millennial investing strategy." With investors including PayPal and Ashton Kutcher, Acorn is on to something.
Wealthfront Via blogwealthfront.com
Connect your financial accounts to the Wealthfront app and fill out a questionnaire, and let their expert software analyze your info to help you make the most of your finances by investing intelligently into one of their 20 portfolios. They will design a personalized plan to help you achieve your investing goals with a diversified plan from the ground up. With just a .25% annual advisory fee for accounts with a $10,000+ balance (otherwise free), you will spend a little to gain a lot. According to NerdWallet, "Wealthfront offers the kind of holistic financial advice and automated investment management that appeals to new and experienced investors alike." With access to U.S. and foreign stocks, bonds, real estate, securities, etc., Wealthfront has a mix of options to help you invest strategically and successfully.
Invest your money the modern way with app-telligence!
- The Robinhood app review to inform you all about the craze. ›
- Boomer Financial Advice to Ditch - PayPath ›
- 7 Best Investment Apps for Your Portfolio in 2019 - TheStreet ›
- 5 Best Investment Apps in May 2019 - Bankrate.com ›
- Best Investment Apps of 2019 - NerdWallet ›
- The 5 Best Investment Apps to Download in 2018 ›
- The 5 best investing apps for beginners - Business Insider ›
- 5 Hot Investing Apps for 2018 | Investing 101 | US News ›
Looking for a job? In addition to encountering those annoying never-ending job interviews you may find yourself face-to-face with an artificial intelligence bot.
Companies worldwide increasingly use artificial intelligence tools and analytics in employment decision-making – from parsing through resumes and screening candidates to automated assessments and digital interviews. But recent studies claim that AI does more harm than good.
While AI screening tools were developed to save companies time and money, they’ve been criticized for placing women and people of color at a disadvantage. The problem is that many companies lack appreciable diversity in their data set, making it impossible for an algorithm to know how people from underrepresented groups have performed in the past. As a result, the algorithm will be biased toward the data available and compare future candidates to that archetype.
The City’s Automated Employment Decision Tools (AEDT) law is designed to offset the potential misuse of AI and protect job candidates against discrimination. It was enforced on July 5th, 2023 in New York City - with other cities and states expected to gradually follow suit. Employers must now inform applicants when and how they encounter AI. Furthermore, companies have to commission a third-party audit of the AI software used, and publish a summary of the results to prove that their systems aren’t racist or sexist. Job applicants are able to request information regarding what data is collected and analyzed by the AI. Violations of the law can result in fines of up to $1,500.
Replacing Human Hiring Decisions
However, should a job applicant want to opt-out of such impersonal judgement by a bot, the new law's scope is quite limited.
While the law specifies that instructions for requesting an alternative selection process must be included in the AI screening disclosure, companies aren't actually required to use other screening methods. Not to mention that the law only applies to AI in hiring and not any other employment decisions. It also wouldn't apply if the AI, for example, flags candidates with relevant experience, but a human then reviews all applications, making the ultimate hiring decision.
Some civil rights advocates and public interest groups argue that the law isn’t extensive enough and that it’s even unenforceable. On the other hand, businesses say that it’s impractical, costly, and burdensome, and that independent audits aren’t feasible.
Responsible use of AI in hiring
Although this law may be a good first attempt to assign more regulatory guardrails around AI, it remains to be seen if it ensures the responsible use of AI in hiring processes. At the end of the day, perhaps recruiting talent should remain a human-made decision.
The good news is that AI can help companies without harming potential job candidates in many ways – such as connecting new employees with internal organizational information and company benefits during onboarding. Or helping employees to do their jobs more effectively rather than replacing them.
There’s all this talk about solo travel. And for good reason — no wasting precious time waiting for others to get their act together, take the plans out of the group chat and actually buy the tickets. Going solo, you can be spontaneous. You can plan your trips according to your precise tastes. You can hop on any flight and fly awayyyyyy.
But what if each time you flew you’d get a free ticket? That’s what you get with the Southwest Companion Pass.
Award status, upgrades, lounge access — there are many perks in the frequent flier game. But one of the coveted holy grails is the Southwest Companion Pass.
What is the Southwest Companion Pass?
The Companion Pass is part of Southwest’s Rapid Rewards program. You get to choose one person to be your “companion,” and they fly with you for free (plus some taxes and fees) on every flight. That’s right. Two for the price of one. That’s half off each ticket if you split it! Whether you’re flying with a partner, family member, friend, or anyone else, they can tag along for free.
And it gets better: once you earn the pass, you can reap the rewards for that full calendar year … AND the next. That’s why people go mad trying to earn a companion pass during the early months of the year. The sooner you qualify, the longer you can use it.
There are also no blackout dates. There are no limits. And if you didn’t purchase the ticket (think: work travel, your companion, or a generous benefactor), there are no restrictions! As long as you’re the one on the plane, your companion can also … be on the plane.
You can also switch out your designated companion 3x a year. So, no need to stay in a relationship simply to get the most out of your companion pass! Ghost and fly away — with a whole new companion!
If this sounds too good to be true — it’s not. But there is one small catch. It’s kinda tough to earn this mega reward.
How to qualify for the Southwest Companion Pass?
You can qualify for the pass in one of two ways:
- Fly 100 qualifying one-way flights
- Earn 135,000 qualifying points in a calendar year.
Clearly, this is no small feat — especially if you’re trying to qualify ASAP.
So how do you actually earn the Southwest Companion Pass?
Don’t worry, there’s a path to earning this amazing reward without climbing on 100 flights or spending an exorbitant amount of money.
Earning 135K reward points may seem completely impossible, but it’s easier than it sounds. Simply sign up for a Southwest Credit Card and turn those spending habits into a rapid rewards account. Through the Rewards Priority Credit Card, earn points when using local transit and commuting, plus score major points and miles whenever you spend.
Stay with me here. This is not some scheme to get you into credit card debt. Many airline cards come with potential savings, giantic rewards, awarding you points, and cashback with every purchase you make that can be redeemed for travel. And often they can come with passive sign-up bonuses. If you spend a specific amount of money within a certain timeframe of opening the card, you can be in for a windfall of points.
Now that’s where the companion pass comes in:
- Southwest Rapid Rewards Premier
- Southwest Rapid Rewards Plus Credit Card
- Southwest Priority Credit Card
- Southwest Rapid Rewards Premier Business Credit Card
- Southwest Performance Business Credit Card
Southwest has three personal cards and a business card. Each of these cards offers rewards between 30K-80K points. In the past, people could open two cards and get a bonus that granted enough points to almost meet the minimum. However, with new restrictions on personal cards, you can only get one bonus every 24 months. Boo!
However, this doesn’t apply to business cards. If you’re eligible, have good credit, and not likely to spiral into insane credit card debt, you can open a business card and a personal card, and accrue 100K+ points. The Rapid Rewards Priority Credit Card will get you points after you spend money in no time.
Now to earn the rest of them.
The secret to gaining these credit card points is to plan your card sign-ups around big purchases. Just before a recent move, I opened a card . . . and the rewards came rolling in — a small balm to ease the pain of how exorbitant moving can be.
Put everyday spend — especially big purchases or bulk items — on your Southwest credit card and watch your award points quickly add up. Typically, you earn 1 point per $1 spent on your Southwest card and 2 points per $1 on actual Southwest purchases.
But there are other ways to earn points, including:
- Flying Southwest: Booking travel on Southwest earns more points. The cost of this travel will be worth it with your companion pass
- Shopping from Rapid Rewards Partners: Purchases with Southwest’s “Home & Lifestyle” and “Shop and Dine” Partners also earn Companion Pass qualifying points. While you shouldn’t make gratuitous purchases, browse Southwest’s partners to see if you could earn extra points for items you'd be purchasing anyway. All this, simply from enrolling in their Dining Program and shopping with their partners.
So there you have it! And since it’s almost Spring, get to earning and soon you’ll be flying two for the price of one!