With the evolving technology and ever-growing expectations of people, every month new tools and apps is being released with new features and benefits. When it comes to online investment, the Wealthsimple app, being introduced in 2019, is a great way to start investing. If you’re new to investing or inexperienced in this genre, this can be a great way to start building your wealth passively.
Currently managing over 1 billion funds of clients, Wealthsimple expect nothing from you to get started. In this app, you need to set up automatic deposits on a recurring basis, or card roundups.
How to Get Started?
You need to sign up on Wealthsimple app, where you need to reply a series of questions. This includes your country, investment goals, the value of current assets, and many more. Once done, you will be put in a portfolio mixed with ETF’s. If you’re unfamiliar with ETF’s, let me tell you, it is a mixed package of stocks and bonds. You would likely make between 2-5 percent on any money you put into your account. Although there is no guarantee, it’s typically what usually is witnessed.
The varied features that you can have using the Wealthsimple app are reinvested dividends, the simplicity of using this app via the mobile app, and no minimums to get started. You can expect to pay the fees of 0.5 percent if your balance is under 100,000.
I believe Wealthsimple app should be used by all who want to invest online in 2019. Robo advisors are continuously gaining a lot of inquires from individuals who want to make a habit of growing their wealth. The fact that you can set up recurring deposits and card roundups can help you develop the habit of both saving / investing.