Investing for someone who's never done it before can sound intimidating and the number of options might seem overwhelming. And for senior caregivers, there might be a misconception that investing can only be done if you have thousands of dollars to invest from the start. The Stash app takes the difficulty and confusion out of investing and gives users the opportunity to invest starting with as little as $5.
When users first create an account, they enter all of their pertinent information and then answer basic financial background questions such as annual income, value of everything owned minus debt and when they plan to use the money they're investing. The app then uses the responses to these questions to suggest a portfolio for the user.
First time users need to make a starting investment as part of their account set up, so plan to have at least $5 available to transfer from a bank account when you create your profile. The transfer itself requires only an online log in for your bank. Users don't even need their routing and account number which makes it quick and easy to complete.
The portfolio options vary dependent on risk level and interest. Stash recommends investing options to users based on personal interest sorted into categories such as "I Believe," "I Want" and "I Like." In the "I Believe" category, users can browse through investment options in companies that align with their personal beliefs. Options include small companies, green companies, or companies that support equal rights for all. Under the "I Want" category, users see the traditional investment options ranging from an Aggressive Mix to a Conservative Mix. Under the "I Like" category, users can invest in innovators, entertainment companies, internet titans, retailers and other leisure type companies.
From the basic home screen, users can scroll through and see their balance history, investment potential and recommended investments based on their portfolio and risk profile. The investment potential area in particular gives users the ability to see how their investments could grow over time based on Potential Monthly Deposit and Growth Potential.
The Stash app breaks down investing to make it easy for senior caregivers to understand where their money is going and how their investments are performing over time. The easy navigation throughout the app ensures that user experiences are free of any frustrations.
The Stash Invest app is available for Apple
Senior caregivers, let us know your feedback on this app and keep us posted if you discovers additional apps that assist with caregiving duties and help relieve caregiver stress. You may also refer-a-friend to a senior caregiving job and win prizes weekly and monthly on Caregiverlist.