It’s super easy to start investing with these apps. Just open an account, pick what you want to invest in, answer a few questions, and the app will help you choose where to put your money.
More and more people are into socially responsible investing, which means investing in things that match your values. Whether you’re young or old, these apps make it simple to get into it. Here are five apps that let you invest in socially responsible ways:
- Sustainfolio
Sustainfolio is cool because it’s all about sustainable investing. It’s backed by a company that’s totally focused on making investments that are good for the environment and society. When you sign up, you’ll also get a Schwab account, which adds extra security.
Starting with Sustainfolio is easy. Just answer a few questions online. But you need at least $5,000 to start. They invest your money in different funds based on what you’re comfortable with. And you won’t only see Schwab funds; they invest in others too.
The app charges a flat 0.5% fee every year. That’s about $50 for every $10,000 you invest. They also make sure your investments stay balanced, and you can get a yearly review too.
- Impact by Interactive Brokers
This app is all about investing with your values. You start by saying what’s important to you, like gender equality or protecting the environment. Then the app helps you pick investments that match those values.
The best part is you can start with just $1. There are no minimums. And you can even buy parts of shares if you can’t afford a whole one. Most U.S. stocks and ETFs trade for free, and there are no extra fees for not using the app.
- Ellevest
Ellevest is made for women but guys can use it too. They have two kinds of portfolios: one is normal, and the other is all about socially responsible investing.
With the SRI option, more than half your money goes into funds that focus on things like gender equality. They also make sure your money is spread out and help you save on taxes.
It’s easy to start with Ellevest. You just open an account, pick a goal, answer a few questions, and they suggest a portfolio for you. There’s no minimum to start, but they charge $12 each month.
- Betterment
Betterment is one of the first apps that let you invest in a socially responsible way. They started in 2017 because people wanted to invest in things that made a difference.
The fees are low, just 0.25% each year plus the fees for the funds you pick. You only need $10 to start. They have three portfolios to choose from, or you can mix them up.
It’s good to know that not all the bond funds are socially responsible. But Betterment tries to pick the best ones. They also make sure to include a fund that votes for better practices in companies.
- Wealthfront
Wealthfront is another popular app for investing. People really like it because it’s easy to use and it’s rated high in the app stores.
You can start with just $1. They use BlackRock’s funds, which are all about being socially responsible. They look at things like how companies treat the environment and society.
Like Betterment, not all the funds are socially responsible. But Wealthfront does its best to find good ones. And they make sure your investments do as well as regular ones. They charge the same fee as their normal portfolios, just 0.25% each year.