Transcript:

we're goodStash, a phone app review for saving and investing.Let's break it down.(electronic music)A little while ago I did a review on Robinhood,which is another trading app,I'll put the link down belowand you can check that out,but within the comments section of that,and there's other places on my YouTube channel,Stash, Stash, have you ever used Stash,what do you think of Stash,so I thought, you know what Clay,it would probably be a good idea to do a review on Stash,so I'm gonna break things downand I don't personally use them,and that'll make more sense why later,but that doesn't mean it's a bad thing or anything,but the research I've done and looked through everything,there's main points that I wanna cover,and then I'll give you my thoughts on it,but just know right now that there's a lot of it depends,that goes into it.So the first thing is just are they legit,and when you're looking at their website down at the bottom,and you can see that they are indeed registeredwith the agencies and regulatorsthat you would want to see them be registered with,so yes, from that perspective they are totally legit.Second point here is let's talk about the cost,so what is it actually going to takefrom a monetary perspective to use this app?If your account is less than $5000,then it is one dollar per month,or 12 dollars per year,if your account is over $5000,then it's going to be a quarter of a percent,so 0.25% of whatever that amount is.So those are the costs at the surface,and I'll circle back to these in a little bit,because are these good?Is this a good deal?Well, I'm coming back to that phrase, it depends,so let's go on to the next point.Goals, what are your goals?Meaning hey Clay, I wanna be a day trader,I wanna take a stock then just trade it, trade it, trade it,then go pick another stock, trade it, trade it, trade it,or Clay, I wanna be a swing trader,meaning I wanna buy a stock, hold it for three days,I wanna hold it for two weeksand then I wanna sell that stock.Or are you looking to invest?Meaning, yeah, I'd just like to buy something,and then hold it for the next 10 years, 20 years, 30 years,because I'm just saving, investing,or dare I say, I'm looking to save for retirement.I get it if you're 18, 19, 20, 21,saving for retirement can seem kinda goofy,because wait I don't retire for 40, 50 years from now,but, it would be a good thing to do,but that's a whole nother discussion.But what is your goal?Are you looking to invest,meaning hold on to things for the long term?Or are you looking to trade?If you are looking to trade in any facet,meaning day trading or swing trading,you can just stop the video right now,Stash, you are not their demographic,you are not who they are after,so from that perspective, see you later,thank you for watching the video,make sure to subscribe to the channel.But if you're looking to invest, great,now there's still more it dependsif you're looking to invest,you'll notice when I was talking about tradeand I said a certain stock, a certain stock,and then when I moved over to investing I saidif you're looking for something to invest in,meaning, not a stock,and this leads into the next point,you cannot pick and choose individual stocks,who knows, maybe that'll change a couple years from now,but at the time of this review,all you can do is basically funds is the best way to put it,meaning they'll put together a bunch of individual stocksand then you just buy that ETF,and that is gonna have a price associated with it,so if you say I wanna go and I wanna buy Apple shares,I wanna go I wanna buy shares of Amazon,shares of Microsoft, shares of Walmart,Stash is not gonna allow you to do that,but if you're okay with just buying a fund of something,and the nice thing here with Stash isthey offer many different types of funds,and they'll nickname them that will essentially tell youwhat the goal is,what the ultimate driver behind that fund is,so for example, they might have a fund called cool tech,so it would probably have an Apple, a Microsoft,an Amazon, a Google, a Snapchat,all these different things within that fund,and then you can go and buy that,so yeah that's nice, but it depends,well, how much flexibility do you want as an investor?If you want the ultimate flexibility,then Stash is not gonna be for you,if you're okay with that,you don't need that ultimate flexibility,then yes, Stash can potentially be for you,and then the next point, flexibility,very, very flexible because all you need is five dollars,and they do what are called fractional shares,so even if something costs more than five dollars,well you can buy a fraction of it,and it just allows you to get involved,so from that perspective, if your goal isI just want to get involved and I wanna investand I don't need that much flexibility,then Stash, they have a solid concept going,and it makes a whole lot of sense,and the other nice thing,as far as routines and just getting in the habit of things,really, you don't even need to do a habit,because they have an auto Stash,which means every month when you get things figured out,and you'll get your budget set up,it'll automatically take money outand just throw it right into your Stash account,and have it go wherever you wanna go,so eventually, you're now, oh yeah,you won't even think about itbecause it's automatically happening,and that's a good way to not have to worry aboutforgetting about it,it's a good way to not, oh whoops,I spend that money on thiswhen I wanted to go and put it in my Stash account,so nice little variable therethat they have included in the softwareand this stuff is always changing,and then finally, I do offer a course on investingfor retirement and all that stuff,but the big thing for retirement if you're starting nowis tax advantages, taking advantage of tax advantages,at this point in time, IRAs, individual retirement accounts,is something you can do to take advantage of taxesand make the system work more so for you,and Stash just started offering IRAs,so from that perspective, another check in the box,good for Stash, they're offering IRAs,and that is definitely the path you would wanna go downif your goal is hey, I'm saving for retirement,and I'll check back 40, 50 years from now,of course you can always change things around later on,but as a whole what do I think of Stash?It's a good solid set up if it meets your criteria,meaning yeah, I wanna invest,yeah I don't need that much flexibility,and yeah, I don't have a whole lot of money,why don't I use them?Well I use other brokers where I have no commissionsand things like that,but I have more than five dollars, but I'm also not 18,it would be kinda nice sometimes to be 18,but I'm also not 18, 21, 22 years old anymore,so yeah, I have more money,but this is definitely I would sayfor the younger demographic,but if you're watching this as a young kid,(clapping) good job, well done to youfor already thinking aboutmaybe I should be starting to invest,maybe I should be starting to think aboutplanning for retirement, saving for retirement,well done to youbecause a lot of people your ageare not out there doing that,so if you meet those criteria,then yes, Stash is at least worth a try.And again, to circle back to the very first point,it's not like they're a scam,they're registered with the agencies and regulators,so you can always get your money back out if you need to,it's not like it disappears and you never see it againor anything like that,would I recommend it?It depends, not if you're a day trader,but if you're an investor who doesn't needa whole ton of flexibility,If you are interested in trading alongside meand other traders,then I do offer a private trading communityknown as the inner circle,so the two images that you see on the screen,the one image if you click on it,it will take you to the inner circle pageand give you all the details about it,the other is going to be a behind the scenes tourthat I personally give,so you can see exactly what you're gonna getwith the subscription.So if that sounds like somethingthat could add value to you as a trader,then go ahead, check it out,and by all means, let me know if you have any questions.