Robo-Advisors
What is a Robo-Advisor?
Digital financial service platforms that use algorithms to manage portfolios
What is Micro-Investing?
Investing small amounts of money, often less than $5 at a time
What is Spare Change Investing?
Rounding up purchases and investing the spare change
What is a feature of a Robo-Advisor?
Possible answers: Low fees, easy account setup, goal-based recommendations, portfolio management, transparency
What is a feature of Micro-Investing?
Possible answers: Easy to use for beginners, no large amount upfront required, low cost, diversification, long term growth
What is a feature of spare Change Investing?
Possible Answers: Works in tandem with daily spending habits, seamless/effortless, earn interest over time, gradual savings
What is the main issue with Robo-Advisors?
Possible answers: Only online, harder for more complex problems
What are the biggest cons of Micro-Investing?
Possible answers: Takes a long time to grow, monthly fees may outweigh the slow/small investment gains, not good for long term goals, limited diversification.
Do most spare change investment accounts have a required minimum opening fee?
No, most do not. (If they do it's between $0-$5)