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Speaker 1: Welcome to How to Money. I'm Joel and I'm At

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Speaker 1: and today we're talking about the scoop on micro investing apps. So, Joel,

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Speaker 1: I saw some folk art today, and I'm saying that

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Speaker 1: to make you extremely jealous, because I know you love

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Speaker 1: folk art. Man, why would you? Why would you be

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Speaker 1: a trader to our friendship and go see folk art

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Speaker 1: without me? Yeah? I didn't tell you about this, but

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Speaker 1: did you know that the High has the second Sunday

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Speaker 1: of every month they have free admission. Emily and I

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Speaker 1: like literally just saw a billboard for so the High

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Speaker 1: museums like our local major art museum in Atlanta. It's

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Speaker 1: a I mean, it's a major art museum across the country.

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Speaker 1: I saw the billboard that there's some major folk art

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Speaker 1: exhibit at the High right now, and Emily and I

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Speaker 1: were like, okay, wait, we got a research like wins

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Speaker 1: the three Days again. Okay, So it's second Sunday of

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Speaker 1: the month. Yes, so second Sundays of the month it's

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Speaker 1: free admission. Um when I think normally it's fifteen bucks.

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Speaker 1: So that's why we went. You know, it's a great deal.

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Speaker 1: So we actually went because I saw that they have

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Speaker 1: like a Oneie the Pooh exhibit, and we don't care

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Speaker 1: about that. Yeah, I don't care as much. Although they've

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Speaker 1: got a ton of sketches by the artist. Super fascinating

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Speaker 1: because you could, you know, you get to see the

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Speaker 1: process and there's a there's a lot of drawings to

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Speaker 1: where he didn't like, wouldn't erase stuff, and so you

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Speaker 1: can kind of see the progression of the characters. Super cool.

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Speaker 1: I'm all about the process and kind of how did

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Speaker 1: you arrive to the you know, the final product. Yeah,

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Speaker 1: the story to get to the final product is to

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Speaker 1: me almost more fascinating than the than the end result.

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Speaker 1: And I actually didn't even know that the folk art

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Speaker 1: thing was going on. It was because it was called

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Speaker 1: like outliers American vanguard artists sort of thing, basically talking

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Speaker 1: about how you didn't you know the folk artists starting

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Speaker 1: in their early nineteen hundreds, you know, throughout close to

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Speaker 1: the two thousands. I guess just lad the way I

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Speaker 1: guess with like kind of modern art and based on

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Speaker 1: their sort of out fire tendencies and ways in the

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Speaker 1: way they did things. So we almos want as an afterthought,

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Speaker 1: which you would have been like murdered me over had

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Speaker 1: and I going. But yeah, you'll be happy to hear

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Speaker 1: there's some poward finsters in there, and a bunch of

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Speaker 1: other guys. I'm sure you're more you're more familiar with gosh. Yeah,

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Speaker 1: that I wish I could have in my house. They

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Speaker 1: already actually at the High they have a normal, awesome

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Speaker 1: folk art exhibit just upstairs, I think the top floor.

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Speaker 1: That's that's good no matter what. That's always there, permanent

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Speaker 1: installation of great folk art. But so the fact that

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Speaker 1: they have this exhibit expanded exhibit, yeah, I mean I

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Speaker 1: have to go for sure. It's not just folk cart

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Speaker 1: That's why they call it the outlier, sort of vanguard thing.

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Speaker 1: It's I mean, it's sort of an umbrella term I think,

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Speaker 1: to include just a bunch of outliers, just folks that

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Speaker 1: weren't doing art, you know, whether it be because they're

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Speaker 1: self taught or just using different techniques. One guy in particular,

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Speaker 1: I thought you would, you'd love to look for Sam Doyle.

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Speaker 1: When I saw the stuff, I was like, man, Joel would, totally.

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Speaker 1: I feel like that's right up Joel's alley. I'm writing

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Speaker 1: the name down. I'm gonna look at this slew stuff.

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Speaker 1: Sam Doyle. Yeah, he's a self taught artist out of

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Speaker 1: South Carolina and sometimes he would paint on building materials

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Speaker 1: and kind of different stuff like that, but just a

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Speaker 1: general s plus, this stuff is really big, and I

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Speaker 1: know everything you like is like oversize. I'm like, I

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Speaker 1: loves art, Like, why would you get something it's like

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Speaker 1: nine inches by nine inches or something like that. I

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Speaker 1: don't know. I love like the big broad strokes, like

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Speaker 1: if it's not at least three ft long, like don't

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Speaker 1: even show it to me. Then yeah, check this guy

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Speaker 1: out there. You'll love it. But so, okay, here's my question.

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Speaker 1: When you go in for you know, the free museum day,

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Speaker 1: how bad is the line? Yeah, okay, that's what I

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Speaker 1: was about to say, because the lines were a little

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Speaker 1: bit longer than than we would have preferred. But we

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Speaker 1: also went kind of at the right in the middle

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Speaker 1: of the stinking day, so like right at the peak hours.

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Speaker 1: I would definitely recommend going, you know, right when they open,

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Speaker 1: or maybe even closer to the end while everyone else

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Speaker 1: is heading out of there. Dude, that's a good call,

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Speaker 1: but in general, still worth it and it's fun. We

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Speaker 1: actually hadn't been there with the girls yet and so

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Speaker 1: even though I've been there for for work, you know,

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Speaker 1: multiple times with photography, never actually taking the kiddos there.

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Speaker 1: So it adds another element of stress when you've got

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Speaker 1: your girls and she just from touching like a priceless

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Speaker 1: work of art on the wall, which Eddie straight up

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Speaker 1: succeeded in touching something. I was just like, oh dag,

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Speaker 1: it likely didn't set off any alarms. Like father like daughter.

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Speaker 1: I just like to lick it, you know, like it

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Speaker 1: give me that artwork. Yeah, but that's a cool thing.

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Speaker 1: We recently just heard about that, like the free Sunday things,

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Speaker 1: So everybody out there that these are the kind of

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Speaker 1: things that you can do, you know, save thirty bucks

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Speaker 1: here there and actually you know, go do something you

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Speaker 1: know with your family or you know, with your spouse.

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Speaker 1: These are just awesome, you know, potential date night or

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Speaker 1: but they're there are all sorts of you know, tips

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Speaker 1: and tricks like this that you can find out in

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Speaker 1: your town, probably with a quick Google search or asking friends,

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Speaker 1: you know, what what they do to save money around town.

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Speaker 1: And man, that's like, yeah, that's a great tip. Because

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Speaker 1: literally I saw that billboard and I was thinking, I

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Speaker 1: need to figure out when the free time to go

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Speaker 1: is because I know there is one if you live

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Speaker 1: in the you know, in the county where we live,

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Speaker 1: and so I'm totally taking taking you up on this

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Speaker 1: thanks to the tip buddy. You got it man, all right,

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Speaker 1: I want to tell you really quickly, I sold a

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Speaker 1: bunch of stuff today on the Facebook yard sales site

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Speaker 1: and so I sold two items, made ninety bucks, just

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Speaker 1: kind of trying to declutter a little bit and do

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Speaker 1: The Facebook yard sales site has gotten so much better.

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Speaker 1: I was. I'm surprised at how good it's gotten with

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Speaker 1: kind of I feel like the listings just look better,

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Speaker 1: and like the user interface basically, like it just feels

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Speaker 1: better as you're kind of swiping through stuff. Yeah, and

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Speaker 1: it's like so much easier to post to multiple spots,

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Speaker 1: Like if you're a member of you know, specific groups

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Speaker 1: like the East Atlanta group that I'm a member of,

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Speaker 1: and then there's a couple other ones that I'm that

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Speaker 1: I'm also a member of, I can post to like

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Speaker 1: all of them at the same exact time, plus the

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Speaker 1: generic market place as well, and so it just they

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Speaker 1: they've made it super easy. It's way better than than

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Speaker 1: listening to Craigslist now, And yeah, I had an easy

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Speaker 1: time getting rid of stuff. And you know that would

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Speaker 1: you would you rid of So I had like this

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Speaker 1: big mid century style metal like metal island cabinet looks

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Speaker 1: you know. Oh yeah, yeah, I know what you're talking about.

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Speaker 1: And so yeah, we sold that as a beast. Oh yeah, dude,

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Speaker 1: did you tell them that you're gonna help them take

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Speaker 1: it off the porch? Yeah? But I was also like,

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Speaker 1: you need to bring like three people because it's gonna

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Speaker 1: take four people to lift. And yeah, I'm glad I

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Speaker 1: wasn't there for them. Me and this like one dude

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Speaker 1: did it together. And then I sold a mid century

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Speaker 1: style like rolling bar for like fifty bucks. So yeah,

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Speaker 1: and that's the thing too, Like I was, you know,

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Speaker 1: I probably could have gotten a little bit more for

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Speaker 1: each one, but I'm just kind of like ready to

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Speaker 1: get rid of them, and you know that they seems

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Speaker 1: like a fair price for me to be able to

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Speaker 1: sell stuff quick. So I just kind of going back

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Speaker 1: to like that spring cleaning episode we did. You know,

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Speaker 1: it just feels good just to kind of unload stuff

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Speaker 1: and just be done with it. You can kind of

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Speaker 1: move on and just remove it from your brain and

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Speaker 1: just kind of move on with the things you want

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Speaker 1: to think about, not just the stuff that you have

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Speaker 1: floating around your house. Yeah, and I mean there's a

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Speaker 1: lot of things that that I have to think about

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Speaker 1: on on a daily basis, you know, like kids and

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Speaker 1: work and podcasts and all these things. And so yeah,

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Speaker 1: for me, sometimes if I can you know, list it

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Speaker 1: at a at a ice point where I can get

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Speaker 1: rid of it, you know, fairly quickly and easily without

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Speaker 1: too much hassle, then I'd rather, you know, lose ten

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Speaker 1: bucks and kind of sell it in in a way

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Speaker 1: that's gonna mean less mental stress for me. So yeah,

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Speaker 1: Facebook gard sales sites is great. At the end, it

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Speaker 1: asked me to rate the person that that bought the

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Speaker 1: item from me on their punctuality and stuff like that,

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Speaker 1: Like they're like six different items they want to kind

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Speaker 1: of like taking it to like the level of eBay

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Speaker 1: almost Yeah, and accountability. Well, I'm like interested to see

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Speaker 1: how that actually how do I then see a user's

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Speaker 1: like ratings, Like I don't know, I don't think they've

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Speaker 1: actually put that side out of it yet, but right

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Speaker 1: now they're gathering information atly. I wonder if they instead

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Speaker 1: of actually rating it. So just like on eBay where

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Speaker 1: you see their actual rating or their star rating. I

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Speaker 1: wonder if they're just going to feed that into like

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Speaker 1: their algorithm and instead they're gonna feature people who are

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Speaker 1: rated well, oh totally. They're gonna like feature their posts

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Speaker 1: like when they go to sell like higher up or

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Speaker 1: sort of thing, give them priority, or or maybe if

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Speaker 1: they message you, like because that's usually how people try

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Speaker 1: to get in touch with you about buying something. Maybe

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Speaker 1: you'll see like a little something you know by their

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Speaker 1: by their picture, like this guy sucks trusted buyer or

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Speaker 1: or even like trusted by so and so, like if

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Speaker 1: you there's a transaction that you did. I'm so curious

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Speaker 1: and now as to how they're going to implement yeah,

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Speaker 1: or it could just be like like like uber ratings

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Speaker 1: essentially where if you get enough batter reviews, they banned

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Speaker 1: you from buying or selling on the marketplace. I don't know,

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Speaker 1: but it'll be really interesting to see how they use

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Speaker 1: those things. How sad would that be if you got

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Speaker 1: banned from Facebook marketplace? Man? Like, hey man, I need

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Speaker 1: to use your profile real quick. You have to be

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Speaker 1: to go make a purchase, You have to be one

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Speaker 1: rotten apple, right, So yeah, man, that's really got me

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Speaker 1: thinking because I actually purchased a washer dryer recently on

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Speaker 1: through the marketplace, and I don't remember any of that,

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Speaker 1: So I wonder if they only rated me, it might

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Speaker 1: just be the seller that rates. I'm I'm not sure

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Speaker 1: interesting because as a buyer, I don't remember that. However,

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Speaker 1: it would probably make sense to rate on both sides

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Speaker 1: of the coin, right, it would make sense. Maybe they hadn't.

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Speaker 1: I mean, this was only like two weeks ago though

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Speaker 1: for me, But yeah, I got a wash and dryer.

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Speaker 1: I did remember it being easier though. You know, they're

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Speaker 1: constantly updating stuff and they've got the listing and then

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Speaker 1: you click a button and it's like at an automated

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Speaker 1: message that ye, since it's I mean, yeah, they just

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Speaker 1: make it so easy for those transactions, just and you

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Speaker 1: can you can notify everyone after you've sold it essentially,

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Speaker 1: but you hit sold and then it essentially says, you know,

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Speaker 1: we're telling everybody that messaged you then about the items

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Speaker 1: they know not to contact exactly. It's yeah, it's gotten

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Speaker 1: really nice because it used to be super ganky and

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Speaker 1: people like, wait, is it still available? Is it not.

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Speaker 1: And basically you're saying, used to be like Craigslist. Yeah,

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Speaker 1: I guess you could just like remove the post on Craigslist,

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Speaker 1: but um, but yeah it was. It used to be

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Speaker 1: a lot worse. And Facebook Marketplace is really getting it together.

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Speaker 1: It's really kind of becoming kind of that go to

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Speaker 1: resource for selling stuff locally, so especially neighborhood groups like

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Speaker 1: that where you can just hop on, hop on down

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Speaker 1: the street to pick something up from somebody. Yeah. Like, well,

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Speaker 1: and I used to never even click like the marketplace

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Speaker 1: button because I would just look in the groups. But

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Speaker 1: the marketplace itself has actually gotten really really robust, and

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Speaker 1: I feel like feeding me things that I'm interested in

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Speaker 1: and then also just just kind of making it easy

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Speaker 1: to scroll through things. So yeah, way to go Facebook.

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Speaker 1: I love it. Awesome, man. Let's get to the beer today.

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Speaker 1: We've on a beer by a local brewery here in Atlanta,

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Speaker 1: Orpheus Brewing, and they have donated Wandering Blues, which is

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Speaker 1: a blueberry sour ale. I don't know if I've ever

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Speaker 1: actually had this, dude, so I'm I'm super pumped. Yeah,

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Speaker 1: it's been around for a few years, but yeah, they

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Speaker 1: I think last year they started putting it in like

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Speaker 1: six pack cans, and um, I feel like they've actually

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Speaker 1: kind of honed in the recipe. So I'm excited to

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Speaker 1: have this one again. So without even pouring it, you

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Speaker 1: can pop that can and I can. I can see

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Speaker 1: that head and it's pink. Yeah. Man, kind of like

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Speaker 1: last week's beer poured a cherry red. This one pours

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Speaker 1: like a blueberry that kind of bluish purple. Yeah. Yeah.

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Speaker 1: We were talking about how many held it up to

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Speaker 1: the light. It looks like a soaked cherry. This looks

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Speaker 1: like a soaked blueberry, yeah, which is like the exact color.

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Speaker 1: You want beer like this, so, yeah, you want It's

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Speaker 1: a match. I can't remember what beer this was. I

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Speaker 1: was listening to a beer podcast and they're talking about

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Speaker 1: a perfectly clear beer that this brewery was making, which

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Speaker 1: sounded terrible. It's like, what is there to see? Yeah,

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Speaker 1: exactly reminded me of like pepsi crystal or something like that.

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Speaker 1: You know, That's what my mind immediately went. You're just like, oh,

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Speaker 1: this is gross. It's like, what kind of chemicals are

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Speaker 1: in here? That is fooling my eyes? Right? Yeah? And

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Speaker 1: I love by the way, I love the can art

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Speaker 1: on this and and so if you want to see,

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Speaker 1: you know, a picture of that, go to our Instagram page.

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Speaker 1: We've got like an awesome little instagram following instagram dot

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Speaker 1: com slash poor not Poor. Let's drink this puppy cheers.

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Speaker 1: That really does have like a juicy blueberry definitely some tart.

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Speaker 1: It's also like a little bit sweet at the same time.

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Speaker 1: I feel like it's kind enough the city though, to

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Speaker 1: kind of balance that. Yeah, like it's to me it

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Speaker 1: almost has like a red wine um, like a red

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Speaker 1: wine vinegar, like red wine acid, like almost balsamic i guess.

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Speaker 1: But you know, it's not that concentrated though. It's it's

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Speaker 1: a really a light beer. It's really good. So thanks

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Speaker 1: to Orpheus Brewing for donating the beer for tonight's episode,

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Speaker 1: Wandering Blues Blueberry sour Ale. Yeah, this one was great, guys,

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Speaker 1: Thank you so much. All Right, Matt, onto the topic

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Speaker 1: in hand, the scoop on micro investing apps. This is

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Speaker 1: kind of like a hot new segment, right, and it's

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Speaker 1: been around now for a couple of years, and you know,

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Speaker 1: new players are coming in and existing players in that

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Speaker 1: sphere are making changes, and so it's kind of tough

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Speaker 1: to know, like, wow, should I be using a micro

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Speaker 1: investing app? And if so, you know which ones are good?

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Speaker 1: And there's different fees and some are kind of say

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Speaker 1: they're free, but are they really free. They're just kind

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Speaker 1: of a lot to sort through. And so we figured

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Speaker 1: let's tackle this subject and kind of give people the skinny,

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Speaker 1: the scoop on you know, what the deal is with

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Speaker 1: micro investing apps. Yeah, and by the end of this episode,

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Speaker 1: we're hoping that you as a listener. Um, we're not

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Speaker 1: gonna do it like a run through of every single

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Speaker 1: app that's out there, because I got a feeling that

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Speaker 1: there might be ten more new ones, you know, by

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Speaker 1: the end of eighteen. So it's not we're not going

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Speaker 1: to get a give a comprehensive review necessarily, but we

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Speaker 1: want to sort of talk about this maybe from like

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Speaker 1: the ten thousand foot view for specifically you do walk

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Speaker 1: away from this episode and to know should I be

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Speaker 1: getting into micro investing in particular through these these apps

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Speaker 1: because they make it so handy, man, that's like it's

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Speaker 1: just so easy. Yeah, So we'll talk about what it

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Speaker 1: is some of our favorite players or some of the

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Speaker 1: big players right now and kind of go over you know,

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Speaker 1: what their model is, and then we'll kind of talk

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Speaker 1: about pros and cons and then at the end whether

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Speaker 1: we recommend you know, you getting involved in micro investing

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Speaker 1: or not. And so let's start with like kind of

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Speaker 1: a definition MATT. Micro investing usually takes place in apps.

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Speaker 1: Micro investing is usually geared towards younger folks, millennials in particular,

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Speaker 1: right if you like to use that word and generation

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Speaker 1: why for the more studious, right, well, you are more

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Speaker 1: studios than I. So it's and it's typically done via

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Speaker 1: an app. And like a lot of these micro investing

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Speaker 1: players don't even have like a website where you can

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Speaker 1: do it. I know, Robin Hood is one of the

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Speaker 1: big players, and they just like recently started allowing you

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Speaker 1: to kind of trade stocks on a web platform as well.

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Speaker 1: But but it used to be app only. Uh so

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Speaker 1: that the may there's just a huge shift right now

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Speaker 1: that micro investing allows people of all income levels and

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Speaker 1: savings abilities to actually begin to invest. Now whereas investing

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Speaker 1: used to be, there used to be this big barrier

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Speaker 1: to entry. Now minimum trading level and high fees have

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Speaker 1: kind of been torched gone by. There are by the

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Speaker 1: wayside in this new model that allows you to begin

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Speaker 1: building wealth in like minutes with almost no money. Ye mean,

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Speaker 1: it makes me think of just the different ride sharing apps, right,

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Speaker 1: You've got like Uber or Lift and and even the

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Speaker 1: newest thing that is in our city at least are

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Speaker 1: the scooters. And it takes no time to just be like,

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Speaker 1: I wonder what that's about, and you just download the

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Speaker 1: app and before you know it, you're hailing a ride.

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Speaker 1: You know, you're you're you're calling for a lift, or

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Speaker 1: you're about to scan a scooter and you know, drop

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Speaker 1: a few bucks to try this thing out. Well that's

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Speaker 1: a good too, because we went in our town at

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Speaker 1: least from zero scooter services to like seven overnight. Like

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Speaker 1: I see all these different brightly colored scooters and bikes,

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Speaker 1: the bikes, and so there's there's a new ure's a

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Speaker 1: new bike share now too, like the bright yellow ones

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Speaker 1: you like, it won't be long before you know, we

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Speaker 1: have a ton more of those two. So that's kind

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Speaker 1: of one of another. Yeah, and one of those things

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Speaker 1: that's like expanding quickly and hitting up cities and then

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Speaker 1: just inundating cities quickly, and so so obviously, I mean

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Speaker 1: the reason that this is happening is because they're popular, right.

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Speaker 1: It's incredibly easy to just everyone's got the smartphone. You

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Speaker 1: just pull it up, download it, or scan it, give

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Speaker 1: it a shot. And it's not a huge deal. And

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Speaker 1: I mean you said it a second ago when you

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Speaker 1: mentioned barriers to entry. That is the number one thing

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Speaker 1: that these micro investing apps have gone for them is

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Speaker 1: the fact that anyone can do it well. And probably

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Speaker 1: the first major player in the industry made it, you know,

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Speaker 1: the absolute easiest. And so we're going to talk about

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Speaker 1: the major apps that are out there right after this break.

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Speaker 1: You know, the first major player that I know of

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Speaker 1: in the micro investing sphere was a company called Acorns.

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Speaker 1: So in Acorns got bought by PayPal, so they've got,

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Speaker 1: you know, this big major corporation behind them. They've got

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Speaker 1: enough money to sun like fifty million into them or

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Speaker 1: something like that. Yeah, so you know Acorns is gonna

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Speaker 1: be around for a while, yeah, man, Acorns. So essentially

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Speaker 1: they round up your purchases and invest your spare change.

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Speaker 1: It's almost like the digital version of kind of coming

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Speaker 1: home at the end of the day with your pockets

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Speaker 1: full of change, and you take that and you like

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Speaker 1: in the change jar, right, except that I never do

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Speaker 1: that anymore because I don't ever use cash, and so

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Speaker 1: this is the digital version of that. You know, you

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Speaker 1: make all your purchases, whether via debit cards or credit cards.

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Speaker 1: So yeah, so imagine making a purchase for seven fifty.

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Speaker 1: You know, they rounded up fifty cents to eight bucks.

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Speaker 1: You still see that eight dollar charge on your credit card,

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Speaker 1: but fifty cents. So that gets invested in whatever investments

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Speaker 1: that you've chosen. It's kind of brilliant because there's I

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Speaker 1: feel like a group of people who kind of counted

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Speaker 1: on the changes are because whether it be just sort

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Speaker 1: of like having some cash on hand, uh for sort

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Speaker 1: of unexpected small emergencies, or folks that would use it

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Speaker 1: specifically to say, for stuff. And so one of the

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Speaker 1: great things about acorns is that they do allow you

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Speaker 1: to invest in both traditional and roth ira A. So

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Speaker 1: you get that tax advantage, you get that tax benefit.

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Speaker 1: It's not just money that's pushed aside and invested in

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Speaker 1: a standard brokerage account where're getting hit with your regular

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Speaker 1: amount of taxes. You know, it's still tax sheltered, which

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Speaker 1: is awesome. Yeah, and acorns is added Yeah, kind of

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Speaker 1: a couple of things to their business model. And so

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Speaker 1: you know, for one dollar a month you can get

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Speaker 1: their basic rounding up and investing service, and for two

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Speaker 1: dollars a month you can get there they're Acorns later,

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Speaker 1: which involves saving for retirement, and then for three dollars

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Speaker 1: a month you can combine that and essentially get acorns

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Speaker 1: new banking service. So Acorns has really, you know, grown,

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Speaker 1: expanded their offerings now the PayPal has invested in them.

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Speaker 1: But even though the Acorns business model seems really cool,

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Speaker 1: and I actually really like the idea of people being

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Speaker 1: able to invest their spare change, I mean, I think

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Speaker 1: that's I think it's pretty cool, a brilliant concept, right,

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Speaker 1: And the one dollar fee every month doesn't seem like

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Speaker 1: that big of a deal. Or two dollars if you're

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Speaker 1: going for the retirement account, or three dollars even right,

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Speaker 1: and if you're going for their banking service as well,

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Speaker 1: it doesn't seem like that much unless we're talking about

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Speaker 1: you investing twenty dollars a month. And yeah, those dollars

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Speaker 1: cutting into your investment returns can add up rather quickly.

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Speaker 1: Yea all of a sudden two bucks that doesn't seem

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Speaker 1: like much at all if you're only in you know,

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Speaker 1: setting aside twenty bucks. I mean, that's a ten percent hit,

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Speaker 1: which is gigantic. Like our favorite funds. If we go

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Speaker 1: directly through Vanguard, we're looking at point zero four or

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Speaker 1: or point zero five per cent point zero five percent.

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Speaker 1: I'm just gonna say that again because because that's so

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Speaker 1: small and it would make the you know, acorns business models,

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Speaker 1: it sort of seemed like a racket almost if you're

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Speaker 1: looking at it from a from a percentage standpoint. So

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Speaker 1: it's definitely worth considering. And we're gonna get more into

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Speaker 1: like sort of the pros and cons a little bit

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Speaker 1: later on and in our specific recommendations. But yeah, I'm

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Speaker 1: glad you brought that up. Man, fees that's how I mean,

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Speaker 1: they gotta make money somehow, right, Yeah, And fees are always,

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Speaker 1: you know, the retirement killer. So a couple other major

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Speaker 1: micro investing apps that you need to be aware of

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Speaker 1: our the robin Hood app. And robin Hood was the

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Speaker 1: first player on the scene to offer completely free investing,

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Speaker 1: so you could trade individual stocks and ETFs completely free,

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Speaker 1: zero dollars for buying and selling, which is pretty cool.

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Speaker 1: So I personally. This is one that I have tried

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Speaker 1: out just with a really small amount of money. I

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Speaker 1: just kind of wanted to, you know, play around and

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Speaker 1: see how it worked. And so I took five hundred

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Speaker 1: bucks that I figured outuld play with for you know,

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Speaker 1: about six months and just kind of tool around, and

428
00:19:00,440 --> 00:19:02,480
Speaker 1: you flush, you just got five hundred bucks just laying

429
00:19:02,520 --> 00:19:05,119
Speaker 1: around man in your side gigs. You're like selling everything

430
00:19:05,160 --> 00:19:06,880
Speaker 1: you got on Facebook, I know, right. I mean well,

431
00:19:06,920 --> 00:19:09,800
Speaker 1: I was like sometimes too to be able to talk

432
00:19:09,800 --> 00:19:11,560
Speaker 1: about these things. It's really good to use them and

433
00:19:11,680 --> 00:19:13,960
Speaker 1: see what they actually look like firsthand. And so I

434
00:19:14,119 --> 00:19:15,720
Speaker 1: figured we would be talking about this, and I really

435
00:19:15,760 --> 00:19:17,840
Speaker 1: wanted to test out robin Hood because it is literally

436
00:19:17,840 --> 00:19:19,720
Speaker 1: the first platform where you can actually buy and sell

437
00:19:19,760 --> 00:19:22,399
Speaker 1: stocks commission free. You know. I just remember, you know,

438
00:19:22,440 --> 00:19:24,720
Speaker 1: going back to to high school, you know, probably like

439
00:19:24,800 --> 00:19:27,240
Speaker 1: ninth grade, when you did that stock market challenge and

440
00:19:27,280 --> 00:19:29,000
Speaker 1: you try to outbeat all your friends and stuff like that.

441
00:19:29,520 --> 00:19:31,320
Speaker 1: It's a terrible way to teach kids about how to

442
00:19:31,320 --> 00:19:34,520
Speaker 1: invest in stocks. We shouldn't be doing that in schools.

443
00:19:34,720 --> 00:19:36,800
Speaker 1: But that's always kind of captivated me a little bit,

444
00:19:37,000 --> 00:19:39,199
Speaker 1: and this small part of me, I mean I know

445
00:19:39,240 --> 00:19:41,560
Speaker 1: it's dumb, but I still kind of, you know, part

446
00:19:41,560 --> 00:19:43,520
Speaker 1: of me wants to buy some individual stocks and see

447
00:19:43,520 --> 00:19:45,879
Speaker 1: how it goes. And you know, with Robin Hood, I

448
00:19:45,880 --> 00:19:48,040
Speaker 1: figured five hundred bucks, I can give that a shot.

449
00:19:48,440 --> 00:19:52,000
Speaker 1: And so I'm like pretty much on like Walmart and Mattel. Uh,

450
00:19:53,040 --> 00:19:55,399
Speaker 1: don't ask me why you've got your reasons. You're like,

451
00:19:55,440 --> 00:19:58,440
Speaker 1: I got girls, and I know America's cheap. So you

452
00:19:58,480 --> 00:20:00,919
Speaker 1: want to hear a quick funny story. The stock market

453
00:20:00,920 --> 00:20:04,240
Speaker 1: game brings totally jogs my memory, and so I remember

454
00:20:04,280 --> 00:20:06,560
Speaker 1: doing that in like third or fourth grade or something. Right,

455
00:20:07,000 --> 00:20:10,119
Speaker 1: so my best friend George back from elementary school. I

456
00:20:10,119 --> 00:20:12,960
Speaker 1: would go over to his house and because that's where

457
00:20:12,960 --> 00:20:15,280
Speaker 1: the bus stop was, and we would actually kind of

458
00:20:15,280 --> 00:20:19,439
Speaker 1: finish up our homework right. Well, the challenge involved choosing

459
00:20:19,440 --> 00:20:22,600
Speaker 1: a stock the day before and then the next day

460
00:20:22,640 --> 00:20:25,040
Speaker 1: at school. That was part of the assignment. And like

461
00:20:25,040 --> 00:20:27,520
Speaker 1: the workers supposed to us at in classes, look up

462
00:20:27,680 --> 00:20:29,320
Speaker 1: the stock that you you know that you purchased the

463
00:20:29,400 --> 00:20:32,679
Speaker 1: day before. Well, we would do our homework that morning

464
00:20:32,880 --> 00:20:35,200
Speaker 1: and so we would have that day's paper, which meant

465
00:20:35,200 --> 00:20:37,639
Speaker 1: that we could go back in time and make a

466
00:20:37,680 --> 00:20:40,040
Speaker 1: purchase on something that we knew gained. How are many

467
00:20:40,119 --> 00:20:43,920
Speaker 1: points that day? It's the confession we cheated a little bit,

468
00:20:44,160 --> 00:20:46,520
Speaker 1: like the Marty McFly of stock paking. That's what you are.

469
00:20:46,600 --> 00:20:48,080
Speaker 1: I'm thinking of the guy. What was that show on

470
00:20:48,160 --> 00:20:50,440
Speaker 1: like USA back in the ten years ago twenty years

471
00:20:50,440 --> 00:20:54,520
Speaker 1: ago where the dude got tomorrow's paper. Yeah, except for

472
00:20:54,640 --> 00:20:59,800
Speaker 1: we just cheated in class. We were bad kids. But

473
00:21:00,080 --> 00:21:03,280
Speaker 1: uh yeah, specifically I remember one standing out, which was Xerox,

474
00:21:03,520 --> 00:21:05,680
Speaker 1: and they must have had a good quarter or something

475
00:21:05,720 --> 00:21:09,200
Speaker 1: that that that year. But I just remember buying Xerox

476
00:21:09,280 --> 00:21:10,960
Speaker 1: over and over because we would we kept looking and

477
00:21:11,000 --> 00:21:13,040
Speaker 1: they just kept climbing and kept climbing, and so we're like,

478
00:21:13,280 --> 00:21:15,280
Speaker 1: I feel like I can almost still remember the Socksuville

479
00:21:15,359 --> 00:21:18,080
Speaker 1: like x r X or not. Probably it was something

480
00:21:18,119 --> 00:21:21,000
Speaker 1: like that. Yeah, what a terrible thing to teach me, Lane, Right,

481
00:21:21,000 --> 00:21:23,480
Speaker 1: when it comes to stock investing, to pick individual stocks

482
00:21:23,520 --> 00:21:26,199
Speaker 1: and to see how they do over a day or two, right,

483
00:21:26,280 --> 00:21:28,119
Speaker 1: that's just a terrible way to do it. But so

484
00:21:28,280 --> 00:21:30,280
Speaker 1: a little more about the robin Hood app you can

485
00:21:30,640 --> 00:21:32,640
Speaker 1: put in, you know, as little money as you want.

486
00:21:33,040 --> 00:21:35,119
Speaker 1: You're buying full shares of a stock or an e

487
00:21:35,200 --> 00:21:37,400
Speaker 1: T f though on that app. So that's really cool

488
00:21:37,440 --> 00:21:39,239
Speaker 1: that you can for the first time at the at

489
00:21:39,280 --> 00:21:41,359
Speaker 1: your fingertips you're buying sell stocks and e t F

490
00:21:41,600 --> 00:21:44,639
Speaker 1: commission free. I love that. But the downside is that

491
00:21:44,680 --> 00:21:48,600
Speaker 1: you can't invest in iras, roth iras or any tax

492
00:21:48,600 --> 00:21:50,720
Speaker 1: sheltered accounts for one case, right, So you can't do

493
00:21:50,760 --> 00:21:53,840
Speaker 1: any of that investing. You're essentially using a brokerage account

494
00:21:53,920 --> 00:21:56,159
Speaker 1: and you're gonna pay regular capital gains taxes on it.

495
00:21:56,280 --> 00:21:58,960
Speaker 1: So you know, robin hood is maybe good for a

496
00:21:59,000 --> 00:22:02,000
Speaker 1: little bit of fun, but not really good for serious investing.

497
00:22:02,440 --> 00:22:04,520
Speaker 1: So how long have you had that the robin Hood app.

498
00:22:04,600 --> 00:22:06,520
Speaker 1: I guess I've been playing around with it for about

499
00:22:06,560 --> 00:22:08,520
Speaker 1: two or three months. Yeah, So, I mean, you know,

500
00:22:08,560 --> 00:22:10,200
Speaker 1: you can read all the benefits and like the pros

501
00:22:10,200 --> 00:22:12,359
Speaker 1: and cons whatever, like on the review side or even

502
00:22:12,440 --> 00:22:14,600
Speaker 1: hearing us talk about it, but like you personally, like,

503
00:22:14,640 --> 00:22:17,360
Speaker 1: how does it feel? The interface is quite slick, is it? Yeah,

504
00:22:17,400 --> 00:22:19,800
Speaker 1: it's it's a really cool good written about it. They're

505
00:22:19,800 --> 00:22:21,720
Speaker 1: talking about how you know obviously, so the way that

506
00:22:21,760 --> 00:22:24,560
Speaker 1: they're able to make these zero commission trades is there

507
00:22:24,560 --> 00:22:27,120
Speaker 1: an electronic brokerage, so they're able to buy and sell

508
00:22:27,160 --> 00:22:29,240
Speaker 1: on Wall Street for zero you know, at zero cost,

509
00:22:29,560 --> 00:22:32,120
Speaker 1: and then they're able to pass that along to the consumer,

510
00:22:32,119 --> 00:22:33,840
Speaker 1: which is why it's called robin Hood, right. It's sort

511
00:22:33,840 --> 00:22:35,760
Speaker 1: of like get your spot at the table without having

512
00:22:35,800 --> 00:22:37,760
Speaker 1: to like pay the big fees the big expenses. So

513
00:22:37,800 --> 00:22:39,840
Speaker 1: I was thinking that, like, with it being this sort

514
00:22:39,840 --> 00:22:41,960
Speaker 1: of scaled down, minimal app, that maybe it would be

515
00:22:42,040 --> 00:22:45,520
Speaker 1: kind of clanky or kind of junkie. Now it's it's actually, yeah,

516
00:22:45,520 --> 00:22:47,359
Speaker 1: it's really good, and we'll get into it in the

517
00:22:47,400 --> 00:22:49,920
Speaker 1: pros and contection. I think there's actually probably some benefit

518
00:22:50,000 --> 00:22:52,760
Speaker 1: to learning a little bit about investing, you know, as

519
00:22:52,800 --> 00:22:54,760
Speaker 1: you're using an app like this. So yea, yeah, we'll

520
00:22:54,760 --> 00:22:57,119
Speaker 1: get into that. One more app I wanted to mention

521
00:22:57,200 --> 00:22:58,600
Speaker 1: before we kind of move on to the pros and

522
00:22:58,640 --> 00:23:02,000
Speaker 1: cons is an app called m one that sounds British.

523
00:23:02,359 --> 00:23:04,720
Speaker 1: It totally sounds like is there with James Bond Works

524
00:23:04,800 --> 00:23:07,239
Speaker 1: or something like that. Um well, m m was like

525
00:23:07,280 --> 00:23:10,960
Speaker 1: the Boss Lady or boss Man, depending on what century

526
00:23:11,040 --> 00:23:14,680
Speaker 1: or what decade you're watching, all right, M one, Yeah,

527
00:23:14,880 --> 00:23:17,040
Speaker 1: and then one sounds like a fancy name and they

528
00:23:17,200 --> 00:23:21,000
Speaker 1: are now turning into probably the second biggest player behind acorns,

529
00:23:21,280 --> 00:23:23,680
Speaker 1: and that's because they used to charge a small feet

530
00:23:23,840 --> 00:23:26,199
Speaker 1: if you had over a certain level of investments. But

531
00:23:26,280 --> 00:23:30,800
Speaker 1: now m one has made their platform pretty much unlimited,

532
00:23:31,040 --> 00:23:34,600
Speaker 1: free to anybody, and so you can buy individual stocks

533
00:23:34,680 --> 00:23:36,960
Speaker 1: or et s on M one. And the great thing

534
00:23:37,040 --> 00:23:40,000
Speaker 1: too about M one is unlike robin hood, where you

535
00:23:40,000 --> 00:23:41,760
Speaker 1: have to buy a full share of a stock, right,

536
00:23:41,800 --> 00:23:44,240
Speaker 1: so if I wanted to buy, you know, one share

537
00:23:44,280 --> 00:23:46,800
Speaker 1: of Amazon, that's a lot of money, right, But apparently

538
00:23:46,840 --> 00:23:49,680
Speaker 1: you can drop thirty bucks on Amazon on M one

539
00:23:50,040 --> 00:23:51,879
Speaker 1: and buy just a partial share, which is which is

540
00:23:51,920 --> 00:23:54,080
Speaker 1: kind of cool. Interesting. So I haven't used this one

541
00:23:54,160 --> 00:23:56,040
Speaker 1: and I will need to do I'll do that. I'll

542
00:23:56,080 --> 00:23:58,119
Speaker 1: put that on my list to mention to M one.

543
00:23:58,119 --> 00:23:59,920
Speaker 1: That's pretty cool if you can go in with like whatever,

544
00:24:00,000 --> 00:24:02,679
Speaker 1: all the amount. So that's one of the big advantages

545
00:24:02,720 --> 00:24:05,360
Speaker 1: over robin hood. The other thing is you can invest

546
00:24:05,480 --> 00:24:08,320
Speaker 1: in a traditional ira, a roth ira, a set ira.

547
00:24:08,800 --> 00:24:11,160
Speaker 1: You can roll over a four oh one k into

548
00:24:11,240 --> 00:24:15,200
Speaker 1: M one. Also, uh, no fees for that. So I

549
00:24:15,320 --> 00:24:19,679
Speaker 1: love that you can buy ets or individual stocks on

550
00:24:19,960 --> 00:24:22,320
Speaker 1: the M one app. It seems to be probably right

551
00:24:22,320 --> 00:24:24,240
Speaker 1: now in my mind, you know, the winner for micro

552
00:24:24,320 --> 00:24:27,000
Speaker 1: investing because there are literally no feest You're not paying

553
00:24:27,000 --> 00:24:29,399
Speaker 1: a dime to anybody to do these trades, and you

554
00:24:29,400 --> 00:24:31,359
Speaker 1: can buy some of these some awesome ETF and some

555
00:24:31,400 --> 00:24:35,520
Speaker 1: awesome individual stocks completely free from an app on your phone.

556
00:24:35,520 --> 00:24:37,840
Speaker 1: And so yeah, IN One, now that I've tried Robin

557
00:24:37,880 --> 00:24:39,639
Speaker 1: hood out, I'm totally gonna try M one out and

558
00:24:39,640 --> 00:24:41,560
Speaker 1: give it a shot, just just to kind of see,

559
00:24:41,680 --> 00:24:44,159
Speaker 1: you know, how it works, and and if I actually

560
00:24:44,240 --> 00:24:46,679
Speaker 1: like it, I get using the app. But I think

561
00:24:46,760 --> 00:24:49,560
Speaker 1: in particular for people that are interested in micro investing

562
00:24:49,720 --> 00:24:52,199
Speaker 1: or investing through an app on their phone, you know,

563
00:24:52,240 --> 00:24:54,680
Speaker 1: IN one is probably that logical choice because of the

564
00:24:54,680 --> 00:24:56,639
Speaker 1: commission free trades, but then on top of that, because

565
00:24:56,760 --> 00:25:00,800
Speaker 1: of the ability to invest your money in tax sheltered

566
00:25:00,840 --> 00:25:03,320
Speaker 1: retirement accounts. Yeah, it almost seems like they're kind of

567
00:25:03,359 --> 00:25:06,119
Speaker 1: going after the big guys, right, like Vanguard and Fidelity

568
00:25:06,200 --> 00:25:08,200
Speaker 1: and even like like Charles Schwab like, if you can

569
00:25:08,240 --> 00:25:10,760
Speaker 1: go to M one and do all of your trades

570
00:25:11,000 --> 00:25:13,320
Speaker 1: specifically E T S, I like E T S personally,

571
00:25:13,680 --> 00:25:16,359
Speaker 1: that's like the Vanguard E T F V V oh

572
00:25:16,359 --> 00:25:17,920
Speaker 1: that's like my number one. I can you know, have

573
00:25:17,960 --> 00:25:20,159
Speaker 1: a ton of money invested with them if I can

574
00:25:20,160 --> 00:25:23,080
Speaker 1: make these E t F trades via this app from

575
00:25:23,119 --> 00:25:26,719
Speaker 1: the comfort of my thumb, Like, why would I want

576
00:25:26,720 --> 00:25:28,800
Speaker 1: to sit down at my desktop computer, I guess and

577
00:25:28,840 --> 00:25:30,320
Speaker 1: log you have to log in when I can just

578
00:25:30,359 --> 00:25:32,760
Speaker 1: do a thumber condition. So, now now that we've named

579
00:25:32,800 --> 00:25:36,280
Speaker 1: the top three, you know, micro investing app players, I'll

580
00:25:36,320 --> 00:25:38,960
Speaker 1: just say there's a couple others. There's Stash, there's Clink.

581
00:25:39,240 --> 00:25:41,359
Speaker 1: We're not going to mention those because those have higher fees,

582
00:25:41,520 --> 00:25:44,360
Speaker 1: and in a traditional sense, their fees are super low

583
00:25:44,400 --> 00:25:47,480
Speaker 1: to but but we thought these players definitely deserve the

584
00:25:47,480 --> 00:25:49,640
Speaker 1: most merit. They're the biggest ones, and they're the ones

585
00:25:49,680 --> 00:25:52,080
Speaker 1: that can offer some of the best options. Let's talk

586
00:25:52,080 --> 00:25:54,680
Speaker 1: about the pros and cons mat right after the break.

587
00:26:03,440 --> 00:26:05,240
Speaker 1: All right, Matt back can break. Let's go over the

588
00:26:05,240 --> 00:26:07,639
Speaker 1: pros and cons of micro investing. Yeah, man, so the

589
00:26:07,680 --> 00:26:10,960
Speaker 1: first one, Uh, it is so incredibly easy to get started.

590
00:26:11,440 --> 00:26:14,720
Speaker 1: Most oftentimes you can be investing in five minutes or less.

591
00:26:14,760 --> 00:26:16,639
Speaker 1: And like we were talking about earlier, that's what's so

592
00:26:16,680 --> 00:26:19,320
Speaker 1: great about these apps is I mean in ten seconds,

593
00:26:19,320 --> 00:26:21,880
Speaker 1: you can have it downloaded, and you can have signed

594
00:26:21,920 --> 00:26:23,399
Speaker 1: up for an account, you can even link it, so

595
00:26:23,440 --> 00:26:25,320
Speaker 1: I don't know, like your Facebook and whatever, and before

596
00:26:25,359 --> 00:26:27,080
Speaker 1: you know, you're rolling and you're able to just try

597
00:26:27,080 --> 00:26:30,720
Speaker 1: it out. It's incredibly easy. The barriers to entry have

598
00:26:30,840 --> 00:26:34,280
Speaker 1: been either lowered or completely removed. And something that was

599
00:26:34,480 --> 00:26:37,040
Speaker 1: from before that was just the sort of elite, elatest

600
00:26:37,119 --> 00:26:39,320
Speaker 1: sort of thing, like m I'm gonna go in and

601
00:26:39,440 --> 00:26:41,920
Speaker 1: talk to my financial advisor and open up a raw ira,

602
00:26:41,960 --> 00:26:44,760
Speaker 1: a four own k blah blah account. It's like super

603
00:26:44,760 --> 00:26:46,760
Speaker 1: fancy talk. And then all of a sudden you've got

604
00:26:46,800 --> 00:26:48,960
Speaker 1: like kids downloading this app, trying this thing out, and

605
00:26:49,000 --> 00:26:51,040
Speaker 1: before you know it, they're just they're saving money. I

606
00:26:51,119 --> 00:26:53,120
Speaker 1: love it from that standpoint, the fact that folks out

607
00:26:53,119 --> 00:26:56,560
Speaker 1: there can start investing, you know, at a way earlier

608
00:26:56,600 --> 00:26:58,960
Speaker 1: age as well. Right, because apps, I mean, like a

609
00:26:58,960 --> 00:27:01,879
Speaker 1: ten year old can download and like I wouldn't recommend

610
00:27:01,880 --> 00:27:04,239
Speaker 1: it and allow your to do that. I'm sure it's

611
00:27:04,280 --> 00:27:06,480
Speaker 1: in the terms and conditions somewhere that they're not supposed to,

612
00:27:06,600 --> 00:27:08,800
Speaker 1: but right, yeah, but I mean it's not easy, and

613
00:27:08,840 --> 00:27:11,720
Speaker 1: so from that standpoint, just the ease of use, I

614
00:27:11,800 --> 00:27:14,520
Speaker 1: love that, Yeah, no doubt. I think it's amazing. I

615
00:27:14,560 --> 00:27:17,680
Speaker 1: think how much easier investing has become and how much

616
00:27:17,720 --> 00:27:20,359
Speaker 1: more transparent, And then this is just kind of adds

617
00:27:20,400 --> 00:27:24,160
Speaker 1: that extra layer of ease and simplicity for people. That's incredible.

618
00:27:24,640 --> 00:27:27,040
Speaker 1: Another pro is that it's great for folks that don't

619
00:27:27,080 --> 00:27:28,760
Speaker 1: have access to a four oh one K and want

620
00:27:28,800 --> 00:27:31,439
Speaker 1: to invest in smaller chunks. So the four oh one

621
00:27:31,520 --> 00:27:34,080
Speaker 1: K is like the super automated thing, right, A certain

622
00:27:34,080 --> 00:27:37,600
Speaker 1: percentage of your paycheck comes out every month and gets invested.

623
00:27:38,000 --> 00:27:39,480
Speaker 1: And the great thing is you know you're saving for

624
00:27:39,600 --> 00:27:42,199
Speaker 1: retirement over the long haul. Well, if you don't have

625
00:27:42,280 --> 00:27:44,720
Speaker 1: access to that something like Acorns that is kind of

626
00:27:44,720 --> 00:27:49,840
Speaker 1: this automated investment style taking money out every time you

627
00:27:49,880 --> 00:27:52,320
Speaker 1: make a purchase. I kind of love that way. If

628
00:27:52,320 --> 00:27:55,520
Speaker 1: you're having a hard time getting the ball rolling getting started,

629
00:27:55,800 --> 00:27:58,160
Speaker 1: Acorns can kind of be that push in the right direction,

630
00:27:58,520 --> 00:28:01,639
Speaker 1: the push to get you starting putting some of your

631
00:28:01,680 --> 00:28:04,480
Speaker 1: money in investments for the long term. So I think

632
00:28:04,480 --> 00:28:07,000
Speaker 1: that's a big pro for for a lot of people. Yeah,

633
00:28:07,040 --> 00:28:08,840
Speaker 1: and then the last pro that we need to mention

634
00:28:09,000 --> 00:28:11,359
Speaker 1: is that these apps have you know, lower no fees.

635
00:28:11,720 --> 00:28:14,480
Speaker 1: So with an app like Acorns that we mentioned, it's

636
00:28:14,720 --> 00:28:16,720
Speaker 1: anywhere from a dollar to three dollars a month based

637
00:28:16,720 --> 00:28:19,160
Speaker 1: on you know which level of service you want, and

638
00:28:19,240 --> 00:28:22,200
Speaker 1: you know, that's really not that expensive. That's definitely less

639
00:28:22,200 --> 00:28:24,960
Speaker 1: than you know, what you're paying for Netflix or Hulu

640
00:28:25,080 --> 00:28:27,320
Speaker 1: or any of those things. And then other apps like

641
00:28:27,440 --> 00:28:30,600
Speaker 1: robin Hood or in one have no fees and I

642
00:28:30,640 --> 00:28:33,040
Speaker 1: really like that. Cool man. Now let's cover some of

643
00:28:33,080 --> 00:28:35,480
Speaker 1: the cons. So you know, you just mentioned how you

644
00:28:35,480 --> 00:28:38,240
Speaker 1: know some of these have little to no fee at all. Well,

645
00:28:38,280 --> 00:28:40,160
Speaker 1: even though some of these fees might be low, it's

646
00:28:40,200 --> 00:28:42,479
Speaker 1: worth looking at it as a percentage of how much

647
00:28:42,480 --> 00:28:44,560
Speaker 1: you're saving. And so you know, again you might be

648
00:28:44,600 --> 00:28:47,840
Speaker 1: thinking two bucks, that's really nothing for me to really

649
00:28:47,880 --> 00:28:49,959
Speaker 1: get my savings off the ground. But in the at

650
00:28:49,960 --> 00:28:51,680
Speaker 1: the end of the month, if you're only saving like

651
00:28:51,760 --> 00:28:55,560
Speaker 1: twenty bucks, that's a lot of money that you're spending

652
00:28:55,840 --> 00:28:58,800
Speaker 1: to save those twenty dollars. We would recommend that instead

653
00:28:58,800 --> 00:29:01,320
Speaker 1: of looking at it as a dollar amounts of you know,

654
00:29:01,400 --> 00:29:03,880
Speaker 1: as a fee, instead look at it as a percentage

655
00:29:04,280 --> 00:29:06,400
Speaker 1: because what you'll find is that if you go straight

656
00:29:06,400 --> 00:29:09,200
Speaker 1: through a low cost investment company like our favorite Vanguard

657
00:29:09,400 --> 00:29:12,400
Speaker 1: or Fidelity or even charge Schwab, you'll find that the

658
00:29:12,440 --> 00:29:15,880
Speaker 1: percentages significantly lower. And I'm talking the difference between like

659
00:29:16,040 --> 00:29:18,800
Speaker 1: maybe point three or five which sounds like hardly anything

660
00:29:18,840 --> 00:29:21,720
Speaker 1: at all, down to point oh four or five percent,

661
00:29:21,880 --> 00:29:24,840
Speaker 1: So you're looking, I mean, yeah, seven times the cost. Yeah.

662
00:29:24,840 --> 00:29:28,440
Speaker 1: Another con is that micro investing can also and often

663
00:29:28,480 --> 00:29:31,480
Speaker 1: will mean micro result. Matt and I think that you

664
00:29:31,520 --> 00:29:34,000
Speaker 1: should be investing a whole lot more than just your

665
00:29:34,040 --> 00:29:37,760
Speaker 1: spare change. If that's all you're putting into your investments,

666
00:29:38,160 --> 00:29:40,960
Speaker 1: and if you're only investing in a brokerage account and

667
00:29:41,000 --> 00:29:44,680
Speaker 1: you're not saving in tax sheltered retirement accounts, you're gonna

668
00:29:44,680 --> 00:29:47,320
Speaker 1: be broken retirement, and we want more for you than that.

669
00:29:47,440 --> 00:29:50,440
Speaker 1: And and so investing just your your spare change just

670
00:29:50,480 --> 00:29:53,000
Speaker 1: what's coming out between you know, your cushions or rounding

671
00:29:53,040 --> 00:29:55,800
Speaker 1: up purchases like Acorns does. Just doing that, that's not

672
00:29:55,800 --> 00:29:58,960
Speaker 1: going to make a big dent in your retirement savings

673
00:29:59,000 --> 00:30:00,840
Speaker 1: over the long run. And so you need to be

674
00:30:00,880 --> 00:30:02,719
Speaker 1: doing a lot more than that. So make sure if

675
00:30:02,760 --> 00:30:05,040
Speaker 1: you are using one of these apps, you're using it

676
00:30:05,080 --> 00:30:08,280
Speaker 1: wisely and it's not the only way that you're investing. Also,

677
00:30:08,440 --> 00:30:11,520
Speaker 1: some of these apps UH encourage you to purchase individual

678
00:30:11,560 --> 00:30:14,360
Speaker 1: stocks while you can purchase e t s in them.

679
00:30:14,400 --> 00:30:18,160
Speaker 1: Most folks are buying shares of Snapchat or Facebook, you know,

680
00:30:18,240 --> 00:30:20,360
Speaker 1: like that basically whatever is hot and whatever is in

681
00:30:20,400 --> 00:30:23,040
Speaker 1: the news or whatever it is that they're using. It's like, oh,

682
00:30:23,080 --> 00:30:25,680
Speaker 1: I like Snapchat, all buy the stock, you know. It's

683
00:30:25,680 --> 00:30:29,000
Speaker 1: like that is not the wisest way to purchase stock.

684
00:30:29,040 --> 00:30:31,280
Speaker 1: I think that actually is the number one stock purchased

685
00:30:31,280 --> 00:30:34,120
Speaker 1: on the robin Hood apps real Snapchat. Yeah, so they're like,

686
00:30:34,160 --> 00:30:35,760
Speaker 1: what do I buy? I don't know. I use Facebook

687
00:30:35,760 --> 00:30:38,560
Speaker 1: a lot. Yeah, it's like millennials literally buying up social

688
00:30:38,560 --> 00:30:40,920
Speaker 1: media stocks. So you want to be you know, careful

689
00:30:40,960 --> 00:30:43,400
Speaker 1: about how you're investing your money, and and those just

690
00:30:43,480 --> 00:30:46,160
Speaker 1: lend themselves to investing your money stupidly in you know,

691
00:30:46,200 --> 00:30:48,200
Speaker 1: one or two stocks that minor might not have good

692
00:30:48,240 --> 00:30:51,040
Speaker 1: returns over time. Yeah, it goes without saying that. Joel

693
00:30:51,040 --> 00:30:56,040
Speaker 1: and I believe in a very widely diversified approach and

694
00:30:56,200 --> 00:31:00,720
Speaker 1: strategy towards investing, especially retirement investing, like the ultimate you

695
00:31:00,760 --> 00:31:04,120
Speaker 1: know investment. And so yeah, I don't buy individual stocks, uh,

696
00:31:04,160 --> 00:31:07,560
Speaker 1: if you can't afford to lose that money. Oh dude.

697
00:31:07,560 --> 00:31:09,600
Speaker 1: And one more con that I just thought of is

698
00:31:09,640 --> 00:31:12,960
Speaker 1: actually like the risk of purchasing something on a whim,

699
00:31:13,080 --> 00:31:15,720
Speaker 1: so right, like obviously like Facebook, it's just you know,

700
00:31:15,760 --> 00:31:17,200
Speaker 1: you haven't put a whole lot of thought into it.

701
00:31:17,240 --> 00:31:20,360
Speaker 1: But also folks that are sort of thinking about stocks

702
00:31:20,360 --> 00:31:22,400
Speaker 1: and are kind of hearing what's in the news, if

703
00:31:22,400 --> 00:31:24,840
Speaker 1: it's that easy to sort of buy that stock because

704
00:31:24,840 --> 00:31:26,280
Speaker 1: it's in an app, it's on your phone, it's in

705
00:31:26,320 --> 00:31:29,800
Speaker 1: your pocket, Like in literally ten seconds, you could buy

706
00:31:29,800 --> 00:31:33,120
Speaker 1: like several hundred dollars or hundred thousands of dollars worth

707
00:31:33,160 --> 00:31:35,280
Speaker 1: of stocks. I almost see that as a bad thing,

708
00:31:35,400 --> 00:31:38,160
Speaker 1: you know, that's certainly that's one of the benefits of

709
00:31:38,200 --> 00:31:40,040
Speaker 1: this being something that's great for a lot of people

710
00:31:40,120 --> 00:31:42,000
Speaker 1: is just like how easy it is to do that.

711
00:31:42,040 --> 00:31:43,880
Speaker 1: But at the same time, for folks that don't have

712
00:31:43,960 --> 00:31:46,840
Speaker 1: the knowledge and don't have a plan, I see that

713
00:31:46,880 --> 00:31:49,000
Speaker 1: as a negative. There listening to the news or they

714
00:31:49,040 --> 00:31:51,640
Speaker 1: hear that's you know, there's rumor about something happening to

715
00:31:51,920 --> 00:31:54,480
Speaker 1: you know, Facebook or Tesla, like they Elon Musk is

716
00:31:54,480 --> 00:31:56,880
Speaker 1: going crazy on his Twitter account, like like he's prone

717
00:31:56,880 --> 00:31:58,400
Speaker 1: to do, and it seems like that he's got some

718
00:31:58,480 --> 00:32:01,400
Speaker 1: huge breakthrough. Well you might think, well, shoot, I'm gonna

719
00:32:01,440 --> 00:32:03,880
Speaker 1: freaking buy some Tesla real quick before everybody else catches

720
00:32:03,880 --> 00:32:06,800
Speaker 1: the news because I'm young and I'm hearing what's going on,

721
00:32:07,680 --> 00:32:09,160
Speaker 1: and I see that as a as a negative. You know,

722
00:32:09,280 --> 00:32:11,200
Speaker 1: that's not the again, if you want to do that

723
00:32:11,280 --> 00:32:13,440
Speaker 1: because you want to have some fun or try something out,

724
00:32:13,480 --> 00:32:16,760
Speaker 1: like Joel did with you know, five bucks, just laying around,

725
00:32:16,960 --> 00:32:18,840
Speaker 1: but really it's like gambling, like and I knew that

726
00:32:18,880 --> 00:32:20,880
Speaker 1: putting five bucks into it. I knew this was like

727
00:32:20,960 --> 00:32:24,120
Speaker 1: point oh two percent of my portfolio something that I

728
00:32:24,120 --> 00:32:26,360
Speaker 1: don't care. It's kind of like back and testing it

729
00:32:26,360 --> 00:32:28,440
Speaker 1: out and thinking out, have some fun, just to try

730
00:32:28,520 --> 00:32:30,720
Speaker 1: it out. Like, but again, if you can't afford to

731
00:32:30,840 --> 00:32:34,280
Speaker 1: lose it, don't invest your money that way. Yeah, and

732
00:32:34,320 --> 00:32:36,120
Speaker 1: I think I don't think it's an amazing point. I

733
00:32:36,120 --> 00:32:39,320
Speaker 1: think for people that lack the knowledge and the discipline,

734
00:32:39,560 --> 00:32:41,680
Speaker 1: they can you know, purchase something on a whim or

735
00:32:41,680 --> 00:32:44,920
Speaker 1: sell something on a whim, and that can trigger tax

736
00:32:44,960 --> 00:32:47,880
Speaker 1: consequences and ultimately, you know, much worse than that, just

737
00:32:47,960 --> 00:32:50,800
Speaker 1: severe losses of your capital. You and I, Matt, we

738
00:32:50,880 --> 00:32:54,800
Speaker 1: both believe in long term stock investing, and so if

739
00:32:54,800 --> 00:32:56,520
Speaker 1: you were going to use an app like in one

740
00:32:56,600 --> 00:32:59,360
Speaker 1: or Robin Hood even we would hope that when you're

741
00:32:59,400 --> 00:33:01,920
Speaker 1: buying something, you're holding it for a decade or longer.

742
00:33:02,200 --> 00:33:04,720
Speaker 1: And that's just not the case for most out the

743
00:33:04,760 --> 00:33:07,240
Speaker 1: case right using these apps, and so that is a

744
00:33:07,320 --> 00:33:10,040
Speaker 1: huge downside that people would you know, use it for

745
00:33:10,400 --> 00:33:13,240
Speaker 1: day trading or you know, quick buy and sell transactions

746
00:33:13,240 --> 00:33:15,240
Speaker 1: that are you know, really actually gonna hurt them, or

747
00:33:15,280 --> 00:33:17,560
Speaker 1: even man just to get their hands on some cash.

748
00:33:17,720 --> 00:33:19,080
Speaker 1: You know, I don't know if you've made the mistake

749
00:33:19,120 --> 00:33:21,560
Speaker 1: of like a late night purchase on Amazon, like from

750
00:33:21,560 --> 00:33:23,440
Speaker 1: your phone or something like that, or even like a

751
00:33:23,560 --> 00:33:25,520
Speaker 1: late just a comment that you're like, oh, man, I

752
00:33:25,520 --> 00:33:28,440
Speaker 1: shouldn't it was the weekend. I shouldn't have made that comment.

753
00:33:28,560 --> 00:33:31,560
Speaker 1: Oh you're that guy in the YouTube comments section, Matt, Yeah,

754
00:33:31,680 --> 00:33:34,320
Speaker 1: not even YouTube of it, you know, talking about imagine that,

755
00:33:34,360 --> 00:33:37,920
Speaker 1: but like with consequences with monetary value attached to that,

756
00:33:37,960 --> 00:33:39,720
Speaker 1: you know, like I would love to know what the

757
00:33:39,760 --> 00:33:42,280
Speaker 1: stats are of like some of these purchases that go

758
00:33:42,400 --> 00:33:45,200
Speaker 1: down like late night when someone's maybe not in the

759
00:33:45,240 --> 00:33:48,640
Speaker 1: best frame of mind and they're like, oh man, I

760
00:33:48,640 --> 00:33:51,000
Speaker 1: gotta get my hands on three hundred bucks by it tomorrow.

761
00:33:51,040 --> 00:33:52,640
Speaker 1: Because I gotta do this, and they're like, I'm just

762
00:33:52,680 --> 00:33:55,800
Speaker 1: gonna sell some of this with zero regard to you know,

763
00:33:55,840 --> 00:33:57,719
Speaker 1: what the market is doing and if it's a downturn

764
00:33:57,840 --> 00:34:02,880
Speaker 1: or anything like that, that's yeah, and nine concern of

765
00:34:03,000 --> 00:34:05,800
Speaker 1: people at least will not use these apps wisely. And

766
00:34:05,840 --> 00:34:07,280
Speaker 1: so you know, if you can be one of those

767
00:34:07,320 --> 00:34:10,680
Speaker 1: uber discipline people that once commissioned free et F purchases

768
00:34:10,719 --> 00:34:13,440
Speaker 1: inside of a roth IRA through a company like m one,

769
00:34:13,480 --> 00:34:15,560
Speaker 1: I think that's great. But yeah, just make sure that

770
00:34:15,600 --> 00:34:17,359
Speaker 1: you're you're willing to be in it for the long haul,

771
00:34:17,400 --> 00:34:19,520
Speaker 1: because yeah, that that is I agree. I think that's

772
00:34:19,520 --> 00:34:23,320
Speaker 1: actually probably you know, the biggest potential con to these apps.

773
00:34:23,800 --> 00:34:26,280
Speaker 1: All right, Matt, let's move on. So do we actually

774
00:34:26,400 --> 00:34:29,880
Speaker 1: recommend using these micro investing apps. Yeah, so micro investing

775
00:34:30,000 --> 00:34:32,520
Speaker 1: we think can be a small part of your stock

776
00:34:32,560 --> 00:34:36,440
Speaker 1: market investments. Apps have gotten so much better over the

777
00:34:36,520 --> 00:34:39,920
Speaker 1: last few years especially, and the fees have been reduced

778
00:34:40,000 --> 00:34:43,560
Speaker 1: to next to nothing, and so you know, micro investing

779
00:34:43,560 --> 00:34:46,600
Speaker 1: apps are probably here to stay. Just know that investing

780
00:34:46,640 --> 00:34:49,600
Speaker 1: regularly in tax advantaged accounts is probably going to be

781
00:34:49,680 --> 00:34:53,239
Speaker 1: the best bet for your long term financial health. And

782
00:34:53,280 --> 00:34:55,440
Speaker 1: maybe you know, it's not just a small part of

783
00:34:55,480 --> 00:34:59,839
Speaker 1: your investment strategy and your portfolio, but specifically, I see

784
00:34:59,840 --> 00:35:02,920
Speaker 1: it better suited to be like an initial like the

785
00:35:03,000 --> 00:35:06,000
Speaker 1: early onset portion, like as like on a timeline right

786
00:35:06,239 --> 00:35:08,680
Speaker 1: early on, if you're trying to get into investing and

787
00:35:08,719 --> 00:35:10,560
Speaker 1: you're trying to find a ways to set aside money,

788
00:35:10,560 --> 00:35:13,759
Speaker 1: whether that be through a load to no cost brokerage

789
00:35:13,880 --> 00:35:16,640
Speaker 1: like robin Hood, or just finding ways to set aside

790
00:35:16,719 --> 00:35:18,319
Speaker 1: money what you know, like through Acorns, where it just

791
00:35:18,360 --> 00:35:20,399
Speaker 1: kind of rounds up. I see that being a great

792
00:35:20,440 --> 00:35:22,839
Speaker 1: approach and a great strategy to like we said earlier,

793
00:35:23,120 --> 00:35:25,360
Speaker 1: just kind of like kicking it off and getting started.

794
00:35:25,480 --> 00:35:28,600
Speaker 1: But honestly, long term, I see that being less and

795
00:35:28,719 --> 00:35:32,319
Speaker 1: less a part of your overall financial plan. You know,

796
00:35:32,360 --> 00:35:34,200
Speaker 1: what are your thoughts? Yeah, no doubt no, I think yeah,

797
00:35:34,239 --> 00:35:36,080
Speaker 1: I can be kind of that jump start that way

798
00:35:36,120 --> 00:35:39,399
Speaker 1: for someone to actually get in on investing and figure out,

799
00:35:39,440 --> 00:35:41,719
Speaker 1: you know, how to start and maybe learn about I

800
00:35:41,760 --> 00:35:44,239
Speaker 1: think another benefit is that it kind of piques your

801
00:35:44,239 --> 00:35:47,800
Speaker 1: curiosity and and so you know, doing something like Acorns

802
00:35:47,840 --> 00:35:50,040
Speaker 1: or robin Hood, you know, hopefully learning a little bit

803
00:35:50,280 --> 00:35:52,880
Speaker 1: you know, piques your curiosity about investing, and maybe you

804
00:35:52,920 --> 00:35:55,520
Speaker 1: start doing some more reading and some more thinking about

805
00:35:55,600 --> 00:35:58,080
Speaker 1: you know, your long term financial future. And there's a

806
00:35:58,160 --> 00:36:00,040
Speaker 1: you know, a huge swath of Americans that have I

807
00:36:00,120 --> 00:36:02,200
Speaker 1: thought for more than fifteen minutes about their long term

808
00:36:02,200 --> 00:36:04,160
Speaker 1: financial future. And so maybe you know, one of these

809
00:36:04,200 --> 00:36:07,080
Speaker 1: apps kind of gets them thinking, you know, along those lines,

810
00:36:07,080 --> 00:36:08,799
Speaker 1: and I think that's great, all right, So yeah, do

811
00:36:08,840 --> 00:36:10,839
Speaker 1: I recommend it? Well, I would say I personally don't

812
00:36:10,840 --> 00:36:14,480
Speaker 1: see myself continuing to invest on micro investing platforms, but

813
00:36:14,520 --> 00:36:16,560
Speaker 1: I think for a lot of people, this, like we said,

814
00:36:16,600 --> 00:36:19,160
Speaker 1: this can be you know, the kickstart to thinking about

815
00:36:19,200 --> 00:36:21,920
Speaker 1: stashing money away for the future. I think for most people,

816
00:36:22,160 --> 00:36:25,240
Speaker 1: you know, the pitfalls and the cons are actually greater

817
00:36:25,600 --> 00:36:29,200
Speaker 1: than the potential rewards. Specifically in regards to moving your

818
00:36:29,200 --> 00:36:32,160
Speaker 1: money around, you know often which is a terrible thing

819
00:36:32,160 --> 00:36:34,120
Speaker 1: to do when it comes to the stock market. You

820
00:36:34,120 --> 00:36:36,040
Speaker 1: want to be well diversified in your holdings, and you

821
00:36:36,040 --> 00:36:39,160
Speaker 1: want to hold onto that well diversified portfolio over you know,

822
00:36:39,239 --> 00:36:42,279
Speaker 1: the long run. We're talking decades, and so anything that

823
00:36:42,320 --> 00:36:45,160
Speaker 1: causes you to even think about your moving money around

824
00:36:45,440 --> 00:36:47,759
Speaker 1: willy nilly here and there, I just think that's a

825
00:36:47,880 --> 00:36:50,040
Speaker 1: terrible strategy of terrible way to approach it. I think

826
00:36:50,080 --> 00:36:52,279
Speaker 1: micro investing apps have a lot going for them. I

827
00:36:52,280 --> 00:36:54,200
Speaker 1: think they're really cool. I think the interfaces are neat.

828
00:36:54,239 --> 00:36:56,319
Speaker 1: I think it's getting a lot of people interested in

829
00:36:56,400 --> 00:36:59,000
Speaker 1: saving for retirement that haven't thought about it before. But

830
00:36:59,040 --> 00:37:00,640
Speaker 1: I think ultimately, you know that are are a lot

831
00:37:00,640 --> 00:37:03,879
Speaker 1: of potential pitfalls that that could really derail your your

832
00:37:04,040 --> 00:37:06,400
Speaker 1: savings for the long term. Yes, I think what we

833
00:37:06,440 --> 00:37:08,319
Speaker 1: said earlier in the fact that it kind of gets

834
00:37:08,360 --> 00:37:11,280
Speaker 1: people curious. I think that's one of the best benefits

835
00:37:11,320 --> 00:37:13,680
Speaker 1: of this. I think that it gets people thinking about it,

836
00:37:13,680 --> 00:37:15,440
Speaker 1: They get curious, they kind of do a little bit

837
00:37:15,440 --> 00:37:16,879
Speaker 1: of dig in, they kind of do some googling, see

838
00:37:16,920 --> 00:37:19,080
Speaker 1: what's out there, and it gets them down the path

839
00:37:19,200 --> 00:37:22,080
Speaker 1: of better financial literacy versus just like this app that

840
00:37:22,120 --> 00:37:24,040
Speaker 1: they kind of use and they don't really know exactly

841
00:37:24,040 --> 00:37:26,160
Speaker 1: how it works, but they're doing it. And I love

842
00:37:26,200 --> 00:37:28,400
Speaker 1: the results of that because it gets people saving. But

843
00:37:28,440 --> 00:37:30,080
Speaker 1: at the core, you still need to have a plan,

844
00:37:30,239 --> 00:37:34,880
Speaker 1: and so if it converts app users into spreadsheet users users,

845
00:37:34,920 --> 00:37:36,680
Speaker 1: like that would be the path that I would love

846
00:37:36,680 --> 00:37:39,440
Speaker 1: to see more users kind of going down. I think

847
00:37:39,440 --> 00:37:42,000
Speaker 1: it's all about having a plan, being able to think

848
00:37:42,040 --> 00:37:44,799
Speaker 1: things through, and then you know, based on the plan,

849
00:37:44,840 --> 00:37:46,480
Speaker 1: based on your goals and what it is that you

850
00:37:46,520 --> 00:37:48,960
Speaker 1: want to pursue, make the changes that you need to make,

851
00:37:49,239 --> 00:37:51,680
Speaker 1: uh to achieve those things. And so along those lines,

852
00:37:51,840 --> 00:37:54,360
Speaker 1: we would recommend you too, if you haven't already, to

853
00:37:54,360 --> 00:37:57,480
Speaker 1: listen to episode nine, where we talked about how investing

854
00:37:57,600 --> 00:38:00,439
Speaker 1: for retirement is a lot simpler than you think. It's

855
00:38:00,440 --> 00:38:03,640
Speaker 1: not this sort of complicated thing, and certainly app developers

856
00:38:03,680 --> 00:38:06,400
Speaker 1: out there have found a way to develop that into

857
00:38:06,680 --> 00:38:08,600
Speaker 1: this slick app that you can kind of just touch

858
00:38:08,600 --> 00:38:09,800
Speaker 1: on your phone a few times and all of a

859
00:38:09,840 --> 00:38:13,080
Speaker 1: sudden you're saving and setting aside chunks of money. But

860
00:38:13,200 --> 00:38:16,120
Speaker 1: really it's not that hard to begin with. It oftentimes

861
00:38:16,160 --> 00:38:19,279
Speaker 1: does get overly complicated if you allow it to kind

862
00:38:19,280 --> 00:38:21,239
Speaker 1: of build up to be this sort of giant thing.

863
00:38:21,520 --> 00:38:23,879
Speaker 1: But listen to that episode. We really try to break

864
00:38:23,880 --> 00:38:25,680
Speaker 1: it down and help you realize that it is so

865
00:38:25,760 --> 00:38:28,480
Speaker 1: much simpler than you think. Yeah, I agree, Matt. Investing

866
00:38:28,760 --> 00:38:31,520
Speaker 1: as an individual investor has gotten so easy, you know,

867
00:38:31,560 --> 00:38:33,840
Speaker 1: and these apps are just kind of that furthest reach

868
00:38:33,880 --> 00:38:37,040
Speaker 1: of like how easy can you get? But just regular

869
00:38:37,160 --> 00:38:40,720
Speaker 1: investing through you know, a discount brokerage house is so easy.

870
00:38:40,800 --> 00:38:42,880
Speaker 1: We tell you how in that episode. That's an episode

871
00:38:42,880 --> 00:38:44,759
Speaker 1: you should listen to before you go all in on

872
00:38:44,760 --> 00:38:46,960
Speaker 1: one of these micro investing apps. All right, let's head

873
00:38:46,960 --> 00:38:49,840
Speaker 1: back to the beer mat tonight. We're drinking Wandering Blues,

874
00:38:49,880 --> 00:38:52,680
Speaker 1: a blueberry sour ale from Orpheous Brewing. Yeah, thank you

875
00:38:52,680 --> 00:38:55,279
Speaker 1: guys again so much for donating this beer. Uh, we

876
00:38:55,600 --> 00:38:58,239
Speaker 1: think it's delicious. What I've noticed as a sort of

877
00:38:58,239 --> 00:38:59,920
Speaker 1: warmed up man as we've gotten to the bottom of

878
00:38:59,920 --> 00:39:02,640
Speaker 1: my glass, it's almost got like I feel like I

879
00:39:02,719 --> 00:39:04,160
Speaker 1: say this too much, but it's almost has like a

880
00:39:04,200 --> 00:39:06,600
Speaker 1: weedy finish it to me, It kind of finishes like

881
00:39:06,640 --> 00:39:09,799
Speaker 1: a like a Berlin advice. Yeah. I think it's pleasantly

882
00:39:09,840 --> 00:39:12,880
Speaker 1: tart along with you know, a nice dose of blueberry sweetness.

883
00:39:13,360 --> 00:39:15,840
Speaker 1: And it really it has like that kind of feeling

884
00:39:15,840 --> 00:39:17,719
Speaker 1: of biting into a blueberry. And and you know, a

885
00:39:17,719 --> 00:39:20,479
Speaker 1: lot of these fruit bears, I would say, got lack

886
00:39:20,760 --> 00:39:23,239
Speaker 1: some of the fruitiness that you're that you're looking for. Yeah,

887
00:39:23,239 --> 00:39:24,640
Speaker 1: this one's got it for sure, this one's got it.

888
00:39:24,680 --> 00:39:27,320
Speaker 1: This one's got blueberries. Hopp The wazoo and so fruity tart.

889
00:39:27,600 --> 00:39:29,600
Speaker 1: I think it's excellent for the summer. It was actually

890
00:39:30,120 --> 00:39:33,960
Speaker 1: fermented with fresh blueberries that were actually juiced. Yeah, so

891
00:39:33,960 --> 00:39:36,439
Speaker 1: it's probably got like actual blueberry juice in there, which yeah,

892
00:39:36,440 --> 00:39:39,560
Speaker 1: it's this is really good. So yeah, Orpheus literally just

893
00:39:39,680 --> 00:39:42,279
Speaker 1: put this back out in six packs, into the into

894
00:39:42,320 --> 00:39:44,879
Speaker 1: the wild and in our fair state of Georgia, and

895
00:39:45,360 --> 00:39:47,600
Speaker 1: it's yeah, it's really good. Look forward at your local

896
00:39:47,640 --> 00:39:49,799
Speaker 1: bottle shop. Yeah, if you're coming down to Atlanta, if

897
00:39:49,840 --> 00:39:52,680
Speaker 1: you're a local, Yeah, check these out. Man. Before we do,

898
00:39:52,760 --> 00:39:54,400
Speaker 1: like o our little recap that we normally do. What

899
00:39:54,400 --> 00:39:55,799
Speaker 1: do you like? What are your thoughts in general? Like,

900
00:39:55,880 --> 00:39:58,240
Speaker 1: so specifically we're talking about m one where it seemed

901
00:39:58,280 --> 00:40:01,680
Speaker 1: like that them and actually some future apps that are

902
00:40:01,680 --> 00:40:03,279
Speaker 1: out there are looking to compete with some of the

903
00:40:03,280 --> 00:40:05,680
Speaker 1: big names like Vanguard and you know, even kind of

904
00:40:05,680 --> 00:40:08,120
Speaker 1: replace them altogether if they've got zero fees. Like, do

905
00:40:08,160 --> 00:40:11,040
Speaker 1: you feel comfortable, like, would you transfer like your entire

906
00:40:11,120 --> 00:40:13,960
Speaker 1: rathire a over from you know, a big player like

907
00:40:14,040 --> 00:40:17,280
Speaker 1: Vanguard or Fidelity or something like that into this app?

908
00:40:17,560 --> 00:40:19,960
Speaker 1: So I wouldn't transfer my funds over And there's a

909
00:40:20,000 --> 00:40:21,600
Speaker 1: couple of reasons. One, you know, my four O one

910
00:40:21,680 --> 00:40:24,480
Speaker 1: K through work is through Vanguard, and so just doing

911
00:40:24,520 --> 00:40:26,600
Speaker 1: all my investing in one place just gives me kind

912
00:40:26,600 --> 00:40:28,640
Speaker 1: of one less thing to worry about, one less headache,

913
00:40:29,040 --> 00:40:32,120
Speaker 1: especially when you know the expense ratio on the fund

914
00:40:32,160 --> 00:40:35,640
Speaker 1: that I'm in is so ridiculously low. To move into

915
00:40:35,680 --> 00:40:38,120
Speaker 1: an app that has, you know, kind of I don't

916
00:40:38,120 --> 00:40:40,440
Speaker 1: know the future for them, I'm I'm not willing to

917
00:40:40,480 --> 00:40:42,440
Speaker 1: do that. You know, I would definitely be willing to

918
00:40:42,560 --> 00:40:45,520
Speaker 1: maybe start dabbling in an app like m one or

919
00:40:45,880 --> 00:40:48,360
Speaker 1: and like I did with Robin Hood. But I definitely,

920
00:40:48,400 --> 00:40:51,239
Speaker 1: you know, think that Vanguard is this kind of stalwart

921
00:40:51,640 --> 00:40:54,640
Speaker 1: or Fidelity or Charles Schwab. They are these companies that

922
00:40:54,680 --> 00:40:58,040
Speaker 1: have been around for decades and you know, will likely

923
00:40:58,120 --> 00:41:00,080
Speaker 1: continue to be around because they've built a busines this

924
00:41:00,239 --> 00:41:03,000
Speaker 1: that will stand the test of time. Yeah. Man, certainly

925
00:41:03,200 --> 00:41:05,279
Speaker 1: they've got a lot more to lose than like these

926
00:41:05,320 --> 00:41:08,000
Speaker 1: new startups, right, Like, I mean, we even talked about this,

927
00:41:08,040 --> 00:41:10,000
Speaker 1: but I think of even like customer service, and I've

928
00:41:10,000 --> 00:41:11,400
Speaker 1: never had to get on the phone to talk to

929
00:41:11,480 --> 00:41:14,440
Speaker 1: Vanguard or anything like that, but I gotta imagine it

930
00:41:14,440 --> 00:41:15,960
Speaker 1: would be a heck of a lot easier to talk

931
00:41:15,960 --> 00:41:19,040
Speaker 1: to somebody and have them fix the problem. Vanguard versus

932
00:41:19,600 --> 00:41:22,600
Speaker 1: you know, Robin Hood where I'm just like, where's my money?

933
00:41:22,840 --> 00:41:25,480
Speaker 1: Then like nobody picks up. Um, but yeah, I'm I'm

934
00:41:25,520 --> 00:41:28,800
Speaker 1: totally with you. They only probably do customer service to Snapchat,

935
00:41:28,840 --> 00:41:34,680
Speaker 1: I would imagine, so they're like new number who do this. Yeah,

936
00:41:34,680 --> 00:41:36,160
Speaker 1: So I'm self employed, so I don't have a four

937
00:41:36,239 --> 00:41:38,000
Speaker 1: one K. I've just got the roth ira A and

938
00:41:38,040 --> 00:41:40,360
Speaker 1: I would not at this point at least feel comfortable

939
00:41:40,480 --> 00:41:43,480
Speaker 1: transferring over, um, my my roth are a or my

940
00:41:43,480 --> 00:41:47,280
Speaker 1: wife's roth are from Vanguard over to a newer startup

941
00:41:47,320 --> 00:41:49,239
Speaker 1: and a newer app. But you know what, if I

942
00:41:49,280 --> 00:41:51,280
Speaker 1: was just starting out, I would feel way more comfortable

943
00:41:51,880 --> 00:41:54,040
Speaker 1: starting off there and building up from there and just

944
00:41:54,120 --> 00:41:55,759
Speaker 1: kind of riding it out and seeing where it leads,

945
00:41:55,800 --> 00:41:58,320
Speaker 1: just because you know, you've got less to lose, certainly,

946
00:41:58,680 --> 00:42:00,760
Speaker 1: and nobody wants to lose you know, the amount of money.

947
00:42:00,840 --> 00:42:02,000
Speaker 1: But it's not like, I mean, you're not gonna be

948
00:42:02,000 --> 00:42:04,520
Speaker 1: losing money anyway. These apps are insured by the s

949
00:42:04,560 --> 00:42:06,240
Speaker 1: I A PC, just like any of the big players

950
00:42:06,280 --> 00:42:09,160
Speaker 1: like Vanguard, Uh Infidelity to your funds are insured up

951
00:42:09,200 --> 00:42:13,200
Speaker 1: to fix exactly one or a vantguard. But something about

952
00:42:13,320 --> 00:42:15,360
Speaker 1: starting off small and kind of building up with the

953
00:42:15,400 --> 00:42:18,560
Speaker 1: company versus just sort of like doing this massive shift

954
00:42:18,600 --> 00:42:20,799
Speaker 1: of all of your funds over um, I would feel

955
00:42:20,840 --> 00:42:23,600
Speaker 1: much more comfortable kind of doing the small growth model

956
00:42:24,000 --> 00:42:25,880
Speaker 1: along with the company. It's like we're in this together,

957
00:42:26,400 --> 00:42:28,719
Speaker 1: versus feeling like you're coming to the table with a

958
00:42:28,719 --> 00:42:31,279
Speaker 1: lot more chips and who knows how long they're going

959
00:42:31,360 --> 00:42:33,799
Speaker 1: to be around. Yeah, no doubt, So let's do a

960
00:42:33,840 --> 00:42:36,400
Speaker 1: quick recap. Mat Ultimately, I think that micro investing is

961
00:42:36,400 --> 00:42:39,320
Speaker 1: this major shift that is breaking down barriers to investing

962
00:42:39,360 --> 00:42:42,560
Speaker 1: and allows pretty much everybody to invest, whether you've got

963
00:42:42,560 --> 00:42:45,359
Speaker 1: five bucks or five bucks. I kind of think it's

964
00:42:45,360 --> 00:42:48,440
Speaker 1: really neat in this investing revolution that it's accessible to

965
00:42:48,480 --> 00:42:50,640
Speaker 1: pretty much anyone. Yeah, man, I love how it levels

966
00:42:50,640 --> 00:42:54,120
Speaker 1: of the playing field and uh, it's completely accessible. Yeah,

967
00:42:54,120 --> 00:42:57,000
Speaker 1: And we only mentioned some of the bigger and better

968
00:42:57,760 --> 00:43:00,719
Speaker 1: players that are out there, that being Robin Hood, Acorns

969
00:43:01,080 --> 00:43:03,160
Speaker 1: and then the sort of honorable mention the new guys

970
00:43:03,200 --> 00:43:05,319
Speaker 1: for us at least M one. But just keep in

971
00:43:05,360 --> 00:43:09,279
Speaker 1: mind that this is a very fast evolving scene. There

972
00:43:09,320 --> 00:43:11,400
Speaker 1: are a lot of players out there. There are a

973
00:43:11,440 --> 00:43:13,239
Speaker 1: lot of folks I bet that are going to be

974
00:43:13,280 --> 00:43:15,840
Speaker 1: out there that didn't even exist when we recorded this

975
00:43:15,880 --> 00:43:17,640
Speaker 1: by the end of the year. Is to be sure

976
00:43:17,680 --> 00:43:19,560
Speaker 1: to do your homework. It will be sure to link

977
00:43:19,600 --> 00:43:21,600
Speaker 1: to our favorites there on our show notes. Yeah, and

978
00:43:21,640 --> 00:43:23,719
Speaker 1: one of the pros of micro investing is that it's

979
00:43:23,760 --> 00:43:26,680
Speaker 1: easy to get started. You can be investing in stocks

980
00:43:26,680 --> 00:43:29,680
Speaker 1: and ETFs in five minutes or less from the comfort

981
00:43:29,680 --> 00:43:32,600
Speaker 1: of your own smartphone, which is nuts. The second best thing, man,

982
00:43:32,640 --> 00:43:35,760
Speaker 1: is that these apps have low or no fees all together.

983
00:43:36,520 --> 00:43:38,239
Speaker 1: When you're looking to save money, you don't want it

984
00:43:38,280 --> 00:43:41,560
Speaker 1: to cost you money. But sadly, micro investing really is

985
00:43:41,560 --> 00:43:43,880
Speaker 1: going to be micro results. And so so it's not

986
00:43:43,920 --> 00:43:46,479
Speaker 1: good to bank all of your retirement nest egg on

987
00:43:46,760 --> 00:43:50,359
Speaker 1: pennies rounded up here and there put into a portfolio

988
00:43:50,520 --> 00:43:52,640
Speaker 1: of stocks that's just not going to be enough for

989
00:43:52,680 --> 00:43:54,400
Speaker 1: you to live on. And so you need to be

990
00:43:54,440 --> 00:43:57,920
Speaker 1: thinking about investing on a level that faster passes just

991
00:43:58,000 --> 00:44:02,160
Speaker 1: micro investing. And another downside is that you're buying and

992
00:44:02,200 --> 00:44:05,280
Speaker 1: selling of these stocks within these apps could be based

993
00:44:05,520 --> 00:44:07,880
Speaker 1: more on emotion than there would be otherwise. You know,

994
00:44:08,440 --> 00:44:11,680
Speaker 1: when it's as easy to sell or buy a stock

995
00:44:11,840 --> 00:44:14,200
Speaker 1: as unlocking your phone and making you know, two or

996
00:44:14,239 --> 00:44:18,080
Speaker 1: three clicks, that scares me, to be honest, Yeah, no doubt.

997
00:44:18,120 --> 00:44:21,400
Speaker 1: And I think micro investing ultimately can be fine, you know,

998
00:44:21,440 --> 00:44:25,120
Speaker 1: initially starting out and you know, learning a little bit

999
00:44:25,160 --> 00:44:28,640
Speaker 1: about stock investing with small amounts of money, but you

1000
00:44:28,680 --> 00:44:30,960
Speaker 1: need to have a plan for the long term and

1001
00:44:31,000 --> 00:44:33,600
Speaker 1: you need to be saving more than just your spare change,

1002
00:44:33,920 --> 00:44:36,600
Speaker 1: which is what micro investing apps are really all about.

1003
00:44:36,960 --> 00:44:39,400
Speaker 1: Thanks everyone for listening. Our home on the web is

1004
00:44:39,480 --> 00:44:41,960
Speaker 1: how to money dot com. We'll have shown us up

1005
00:44:42,000 --> 00:44:43,920
Speaker 1: there for this episode. And if you like what you

1006
00:44:44,000 --> 00:44:46,640
Speaker 1: hear and have found this podcast helpful, please let us

1007
00:44:46,640 --> 00:44:50,120
Speaker 1: know by giving us a review on Apple Podcast. We'd

1008
00:44:50,120 --> 00:44:52,640
Speaker 1: love to hear from you, and be sure to subscribe

1009
00:44:52,640 --> 00:44:56,239
Speaker 1: while you're there. Until next time, Man, Best Friends Out,

1010
00:44:56,440 --> 00:45:02,440
Speaker 1: Best Friends Out. M