2. Betterment: Automated Investing Made Simple

Betterment is an excellent choice for those who prefer a hands-off approach to investing. It offers custom-built portfolios with low-cost ETFs or cryptocurrencies, taking the guesswork out of investing. Betterment also provides a variety of retirement account options, including traditional IRA, Roth IRA, SEP IRA, and Roth conversions, making it a versatile platform for all types of investors. One of the standout features of Betterment is its use of ETFs in both stock and bond portfolios due to their low management fees and tax efficiency. However, to access advice from a certified financial planner, you must have $100,000 in your account, which might be a high barrier for some beginners.

3. Acorns: Investing with Spare Change

Acorns is an innovative app that allows users to invest their spare change by rounding up their purchases to the nearest dollar. This unique feature makes it possible for beginners to start investing without making a significant financial commitment. Acorns also offer age-based portfolios, which adjust based on the user’s age and timeline to retirement, ensuring that the investment strategy aligns with the investor’s long-term financial goals.