M1 Finance App IS IT A SCAM

What is up. ladies and gents welcome back to the urinal tech crack house here today I will actually be covering the m1 finance app. So if you like this content feel free to like the article share the article subscribe stick around for more folks and I’m going to go ahead and get this started What is up. ladies and gents welcome back to the tech crack house as I already stated today I just want to make a brief article covering basically the wealthfront app and whether not well front am I saying the m15 except I apologize folks too many investment apps and basically whether or not. I think that it’s worthwhile worth using or is it a scam just do they take too much money from you. You know. what are the pros and cons of using this app so first things first. Okay, I want to let. You know. that there are fees associated with this app. Now that should be no surprise many investment apps except for Robin Hood honestly use investment fees and fees in general. Because they want to make money and that’s totally understandable these companies gotta stay afloat somehow Robin Hood uses basically like Arbor Church with your cash that you have in your account to make money for themselves which i think is absolutely ingenious. But a lot of apps. You know. they either can’t do that they do??t the infrastructure etc etc basically they charge you. So I believe that the em1 finance app charges you 0.35% a month. Now I’ve talked about this in the past this is not thirty five percent this is not three point five percent this is point three five percent so roughly roughly a third of a percentage point. You know. I’ve made articles about stashes fees in the past and people call out my math and the thing is the math isn’t incorrect. All right, the fees are really pretty darn minimal. So if you have like five hundred dollars invested even or two fifty you’re going to be paying like maybe seven to thirteen cents per month which is if I’m thinking correctly seven cents Terr. Yeah, any way around that range per month which is really very very minimal that’s barely over $1 per year or it’s under $1 per year depending on how much you have invested so does it cost money to use this app yes it does. Okay, is that money wasted do I feel. I would say no. Because. You know. unlike with for example stash nuts and acorns with the mo defended finance app for me you actually can choose whatever securities you want so we have vti here we have iShares MSCI we have let’s see here no we might load my thinking oh let’s turn this to guggenheim strategic opportunities fun to beneficial interest basically you can buy basically any apis and not act you can buy basically any security or stock or anything that you want ETFs etc and it’s not restrictive and I like that a lot so despite paying a bit it’s still very up to the user to basically. You know. be hands-on it doesn’t do a ton of work for you. But it’s a good deal you’re able to buy stocks without paying much money upfront so pretty much what I’m saying is is it a scam is it worth your money I’m going to say no it’s not a scam is it worth your money. I would say yes. Because to get your feet wet and start investing with unlimited trades that’s pretty darn cheap that’s really pretty cheap overall that’s. You know. really not a bad price so the thing is. You know. I I think it’s very nice I think it’s a good offering and what I recommend it so far, yes I don’t have a ton of experience with it. But basically I don’t think the fees are too expensive I don’t think that they’re extreme for what you get I honestly I think they’re pretty good pretty satisfactory. So I think that’s going to do it for this article folks anyway I just want to make a quick article talking about that and I hope you all have two fantastic fantastic day and adios.

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