The investment landscape has changed dramatically over the past few years. Previously, investing was mainly for the wealthy and well-connected. However, 2020 saw one of the biggest increases in individual investors within the last decade.
According to Bloomberg Intelligence via The Wall Street Journal, individual investors accounted for nearly 20% of shares traded in the U.S stock market. That is a 5% increase from 2019.
With the emergence of technology, it appears individual investing is a trend that will keep going upward. While investing may seem intimidating to newcomers, there are a plethora of resources available to help rookie investors make educated decisions. The issue is deciding which resources offer the most value. We’ve combed through the numerous blogs, podcasts and apps to provide you with the best investing resources for 2021.
Best Investing Blogs For Beginners
Blogs can be a great way for beginners to learn introductory concepts about specific topics. Below, you’ll find some of the best blogs to learn some of the basics about investing.
MyWallSt
One of the best blogs for beginners to learn about introductory investing concepts is MyWallSt. This blog focuses on market analysis, investor education and the latest investing news. Additionally, they offer an in-depth guide to investing for beginners.
Good Financial Cents
Created in 2008 by Jeff Rose, a certified financial planner, Good Financial Cents aims to provide readers with financial advice and teach readers some introductory principles.
This blog covers a range of financial literacy topics, such as investing, taxes, retirement, debt payoff strategies and much more. Good Financial Cents offers easy-to-read content that is perfect for individuals no matter their level of financial literacy.
Wallet Hacks
Wallet Hacks provides readers with easy-to-understand content. This blog discusses various financial topics, such as investing, banking, credit cards, loans and much more. The How to Invest Your First $1,000 article provides some great insights and tips for newcomers to investing.
Investing Podcasts For Beginners
Podcasts are a great way to attain knowledge on a specific topic. However, the market can get a little saturated, specifically the financial education space. It can be hard to choose which ones to listen to and which ones to skip.
Whether you are driving, working or hanging out around the house, here are some of the best investing podcasts to help you make educated decisions and become an overall better investor.
The Investor’s Podcast
In 2012, Preston Pysh and Stig Brodersen created The Investor’s Podcast Network. This network is dedicated to helping investors and business people of all levels grow financially. The Investor’s Podcast Network has a variety of shows dedicated to particular sectors of the business world. Some of the podcasts include:
- Millennial Investing
- We Study Billionaires
- Real Estate 101
- Bitcoin Fundamentals
Their flagship show is We Study Billionaires, and according to their website, it’s the largest stock investing podcast in the world with 50 million downloads. During the podcast, they interview and analyze some of the world’s wealthiest individuals like Warren Buffet and Bill Gates.
This show teaches listeners how to apply some of the investment strategies the richest people worldwide use and apply it to their own strategies.
We Study Billionaires, and the entire Investor’s Podcast Network is worth a listen for beginners and seasoned veterans.
The Stacking Benjamins Podcast
One of the best investing podcasts dedicated to new investors is the Stacking Benjamins Podcast. The Stacking Benjamins Podcast was started in 2012 by Joe Saul-Sehy, a former financial advisor, and Josh Bannerman, a certified financial planner.
Joe and Josh like to keep the podcast light-hearted, but they provide serious information about financial literacy and investing. Unlike most financial education or investing podcasts, the Stacking Benjamins Podcast introduces listeners to ideas and concepts about financial literacy rather than being the final expert.
The Stacking Benjamins Podcasts publishes a new episode every Monday, Wednesday and Friday. Each episode runs about an hour long, and each section is approximately 15 minutes long.
Best Investment Apps For Beginners
Each person will have a specific investment strategy and style. The best mobile apps for investing offer access to various types of accounts and products and low fees. While the apps mentioned below are the best all-around apps for investing, it’s important you choose an application that suits your style and financial goals.
Robinhood
With approximately 18 million monthly active users, Robinhood is easily one of the most popular investing apps on the market. Robinhood is free to download for iOS and Android, and they do not charge any fees per trade. Additionally, with no account minimum required, Robinhood is a great choice for individual investors who are new to this space.
Unfortunately, Robinhood doesn’t offer the ability to invest in mutual funds or bonds at the current moment. However, they do offer a range of assets for users to invest in. Those investment options include:
- More than 5,000 U.S. Exchange-Listed Stocks and exchange-traded funds (ETFs)
- Cryptocurrency
- More than 650 global stocks through American Depositary Receipts (ADRs)
Even though Robinhood is one of the most popular and easy-to-use platforms on the market, there are still a few drawbacks to this app. The biggest complaint users have is the frequency the app is down. Additionally, the inability to invest in retirement accounts and the ease of making uneducated investments are some of the main complaints users have.
SoFi Active Investing
Even though Robinhood pioneered the zero commission investing model, SoFi Active Investing took that concept and made it their own. The user-friendly interface, no account minimums and numerous resources available to help users make educated decisions make SoFi is another great platform for beginners. New investors can go to the store on the Apple or Android device to download the app for free.
Similar to Robinhood, SoFi Active Investing does not offer the ability to invest in retirement accounts such as mutual funds or bonds. Investment options available through this app include:
- Stocks
- ETFs
- Fractional shares for as low as $5
- Cryptocurrency
While SoFi offers a range of investment options and resources for beginners, there are a few drawbacks to using this platform. For example, SoFi doesn’t offer tax-loss harvesting or stop-loss orders. Additionally, their limited track record may be a turn-off for some new and wary investors.
Acorns
For those looking for a more hands-off approach to investing, Acorns is an app to consider. Automated investing is the name of the game when it comes to this platform. Acorns automated system includes:
- Automatic roundups
- Automated transfers
- Automated investment plan
When users connect their credit and debit cards, Acorns will automatically round up the change to the next dollar and deposit it into your investment account. While Acorns is free to download on iOS and Android, they maintain a $1 per month account fee. However, this app does not require an account minimum. Additionally, to unlock certain features, you may have to pay at least $3 per month.
Unlike the other apps mentioned above, Acorns offers different types of investment accounts. Some of the assets include:
- Individual non-retirement accounts
- Individual retirement accounts (IRAs)
- UTMA/UGMA accounts for kids
Acorns is a great choice for beginners and individuals who don’t have the time to manage an investment portfolio. However, some of the drawbacks may not be suitable for some users. A couple of the biggest complaints users have are the small investment portfolio and the $1 per month account fee.
Learn More About Investing From The Professionals
Investing for the first time can be daunting. Using some of the resources provided in this article can help make that process a little easier.
If you feel like you need to consult with a financial professional, Arizona Central Credit Union has an experienced investment services team ready to help you. Contact a Central Financial Services Representative at (602) 523-8408 or toll-free at (866) 264-6421, ext. 8408.
