As a young adult, you’re probably sick of all the good things constantly being said about you. Like how you’re broke, entitled, lazy, and still living with your parents.
With all those great things constantly being said, it may surprise some that young adults do want financial security like everyone else. We do want to save, invest in stocks, and make good financial decisions. Shocking I know.
Well one of the great things about being a millennial is getting to live in an age where technology has made many things cheaper and more accessible. One of those many things just happens to be investing.
About Robinhood Investments
Enter Robinhood, an investment app, that was created to get young adults just that much closer to financial security. The app allows you to trade stocks commission free, no fees, no middle man necessary. It’s a great way to get your feet wet in the world of investment, and to participate in a necessary part of wealth building.
How To Get Started
The app is super easy to use, just download from the App Store or Google Play, and sign up to get started. You’ll be asked to provide sensitive information such as your address and social security number, which the app notes is required by federal law. You’ll need to link a bank account to start trading, and the app allows you to transfer money from your bank account to your Robinhood account. You can then choose a specific time period to deposit your profits.
The investment app allows you to trade stocks that are very popular among users, or trade a specific stocks by searching for the stock abbreviation. Stocks can be added to a watchlist, and if you do choose to buy a stock, the app pulls up articles showing most recent business information about the company.
For those looking for more advanced features, Robinhood Gold may be just what you need. For just $10 a month users can enjoy extended trade hours, borrow money for margin with leverage trading, and get deposits sooner. These features are in addition to the free trades already included in the standard app.
While Robinhood definitely makes investing more accessible, it’s not a replacement for traditional forms of investing just yet. Those who aren’t tech savvy, or in need of in depth investment advice may find options like TD Ameritrade (which offers commission free trading) more suited to their needs.