Are you wondering whether Stash Invest is a scam? 🤔
In today’s Stash Invest review, you’ll realize that the days when we thought “apps” were just for fun and games are long gone.
Today, modern applications are created not just for gaming and relaxation but also to make us better in some aspects of our lives.
There are apps to improve your sleep, health, count calories, and even ones that will help you train your mind and improve memory.
Another major category that is quickly gaining traction in both Google and Apple play stores is personal finance.
From basic calculators to seamlessly managing shared expenses, everything just got easier thanks to technology.
There is no denying that technology will continue to be king among all the sectors since it has been consistently rising despite the pandemic. 👑
And perhaps this is the reason why there is an upward swing in the trend of people looking for more ways to save up money, prepare for the future through investments, generate more income, and secure their life savings.
Now more than ever, people are becoming conscious about their financial health, and most are now looking at how to resolve their debts while increasing their monthly income.
If you have been searching for the right keywords on Google, then perhaps you already know by now that investing is one of the surefire ways by which you can let your money work for you.
Nowadays, you no longer need to go through all the complicated loops just to open your brokerage account and invest in the stock market.
With less than five taps on your phone, you can open an account with any investing company of your choice, whether that’d be:
- TD Ameritrade
Apps like these are continuously being developed to simplify the whole process of investing, and most of them are designed with an easy-to-use interface that won’t overwhelm beginners.
By using these, you can access your portfolio anytime, track how specific companies are doing, and open as many accounts as you can due to the low (or zero) maintaining balance promos.
Stash Invest Financial is another name that is starting to make rounds on the internet. Could this up-and-coming platform be the next Robinhood?
Allow me to share my thoughts with you in today’s post. 🙂
Before we dive in, let me just clarify that I am not being sponsored to write this post, nor will I get rewarded if you decide to sign up.
My intentions are clear, and all I want to do is help you out by showing you what opportunities are actually worth your time. If that is something that will interest you, then let’s get on with the review.
Also, suppose you’re interested in finding the best ways to make money from home. In that case, please feel free to check out my #1 recommendation, as it’s undoubtedly one of the best platforms to get started online.
Hi, my name is Gorjan, and for the past couple of years, I’ve been solely focused on helping people steer clear of scams online.
So far, I’ve reviewed well over +300 online courses, apps, and platforms and helped more than a few dozen people avoid falling prey to fraudsters.
If you want to find out more about me, my story, past experiences, and how I can help you establish your first source of passive income online, then by all means, please get to know me better by reading this page.
Building a successful business online only requires two ingredients, and that’s determination and a little bit of elbow grease.
If giving it your all and pushing through when the going gets tough is your idea of running a thriving business online, then my most recommended platform has everything you’ll ever need to succeed online.
As it did for me, it can also show you the exact step-by-step blueprint and give you the much-needed tools to go out there and crush it on your own.
It’d be great if you could at least read my review on it, and if not, no worries, since tempting convenient business opportunities are just like busses – there’s always another one coming just around the corner.
Stash Invest Review
When was the last time you actually saved money?
As much as we hate to admit it, some of us lack discipline when it comes to our finances, and we sometimes tend to make dumb moves and end up purchasing things that will degrade in value over the next 1 to 5 years.
To control your spending habits, you can use the Stash app to plan out your savings, retirement, and investing journey.
Stash Invest is basically a hybrid application that combines the concept of budgeting and investing. It was officially launched in 2015, and it has quickly garnered over 5 million users to this date.
The whole premise behind its development is that they want to be an all-in-one app containing tools such as:
- Set Schedule – automatic transfer
- Roundups – link a debit card
- Smart Stash – automatically transfers a portion of your money
- Risk Tolerance calculator
- Online savings account set-up
- Investment facility
From the way I see it, this is perfect for new investors and those who are really interested in saving money.
The concept of stashes and being able to rename them based on your goal pave the way in helping us become conscious and motivated about our real reason why we should be spending.
After all, having no clear direction or realistic target amount will definitely make us wonder why we are saving at all.
What I personally like about it is that it’s perfect for literally anyone since there is no account minimum in starting with Stash.
Aside from tracking your expenses fluidly on the app, you can also try your hands on investing in individual stocks and ETFs.
To purchase a stock or an ETF, the cheaper option, you can simply fund your account by connecting your debit card or transferring money directly from PayPal or your bank account.
Once you have already added some funds, you will then choose amongst the three major Stash plans that will fit any budget.
This plan will be your monthly account management fee which means that you have to pay this to access the special features below:
- Beginner plan at $1 per month = allows you to open a personal account, invest and get a stock-back card along with $1,000 worth of life insurance offered by Avibra.
- Growth plan at $3 per month = allows you to open a retirement account, invest, get a stock-back card, and a $1,000 worth of life insurance.
- Stash + plan at $9 per month = allows you to open a retirement account and a custodial account, invest, get a stock-back card, and a $9,000 worth of life insurance for your personal and custodial accounts.
One thing worth mentioning here is that the savings accounts that you will open here will not earn any interest. In other words, this is just a place where you park your money while figuring out how to spend it.
If you actually want to generate some income from this application, you must invest in either stocks or ETFs.
Also, let me just clarify that the monthly fees are non-negotiable, and I have to say that it’s pretty expensive in the long run compared to the 0$ fees from the Robinhood app.
Stash’s Best Features
The platform offers a stock-back rewards program (managed by Green Dot Bank) which means that instead of getting some cash-back reward from your purchases, you will instead get ETFs of fractional shares!
For instance, if you pay your subscription to Netflix using their platform, you will earn a specific percentage of fractional shares.
The percentage may vary depending on the promo per month.
Still, technically you will get at least a 1% reward for every dollar spent on eligible companies listed on their rewards page.
Another major thing that I love about Stash is that it offers themed ETFs, which reminds me of the offers from eToro.
Technically, the thematic portfolios here are generated by the company, and they will bundle up all the top stocks based on specific categories like “blue-chip,” “modern meds,” “small but mighty,” “women who lead,” and such.
easily the best way to make money online!
From the categories’ names, you will get a basic description of the type of companies under it and if you would like to invest. Also, you can set Stash’s automated feature to put a monthly investment automatically.
You can simply adjust how much you want to invest, and the platform will automatically move that money from your savings to your investment account and purchase the stock or ETF that you will set.
By doing this, you are already practicing the cost averaging technique, which is one of the best tactics if you are just starting out. Better to go slow than go all in and lose it all, right?
Stash Invest Reviews
Stash Invest has generated many positive reviews online, resulting in it getting featured on Forbes, Business Insider, Seattle Times, Benzinga, Tech Crunch, and many other legitimate media companies.
It has also been rated with 4.5 stars by Benzinga, a 3-star rating on Investopedia, 4.5 stars on Nerdwallet, and a 3.0- star rating on Trustpilot.
On social media, the company prides itself on its 199k followers on Facebook, 110k on Twitter, and 102k on Instagram.
With all these considered, you might think that the company is already a heaven-sent product, right?
To make matters very interesting, it earned a shockingly low customer rating on BBB, causing it to have an F rating.
While BBB does not accredit it, I was surprised to see that there have been about 494 complaints in the last three years, and most of these circle around these themes:
The monthly fee ($1- $9) and transfer fee of $75 are just way too much to bear for those who only want to transfer or invest a small amount.
There were instances that the accounts were suddenly locked for almost a week without any explanation whenever they tried to move a large sum of their money to a different bank.
When the clients call the customer service team, they usually say that the transfer is pending and that Stash will unlock the account within a few weeks.
It is easy to cancel a subscription, but withdrawing funds will take some time. Clients who decided to withdraw from their IRA have trouble getting the actual funds since the application shows that the account is already closed.
The customer service team will take at least 1 to 3 weeks before they even make a response.
Is Stash Invest a Scam?
Stash Invest is not a scam, and it is definitely one of the best ones out there for beginners as they also provide financial advice directly to your email as well as access to the best financial tools.
The approach is remarkable, and the platform does not intimidate you with all the scary numbers and green/red colored tickers you can usually see from other apps.
However, the rates and customer service of the company are below the standards, which is why there are people consistently asking if Stash Invest is a scam or not.
With this being said, I do not recommend this to those who do not have a large sum yet. I mean, $9 can be a considerable cut per month for some, and this is why many people are more attracted to the Robinhood platform since it has zero fees for account maintenance.
As you reach this part of the post, I bet you are wondering if there are other ways by which you can generate more money online. 💰
And trust me, I’ve been in your shoes before and have tried out almost every opportunity it is online. Not because I love chasing money but because I believe I deserve something better.
I wasn’t meant to be stuck as an employee all my life. I was born to explore and live a truly fulfilling life, and I’m sure you are too.
How I Make A Living Online
While saving money is indeed important, I firmly believe that one should focus more on generating as much as possible to retire at a young age.
Contrary to common belief, earning that gold watch through your job is already a thing of the past because today’s generation is more interested in taking risks than finding comfort and securing a 9 to 5 position.
Living with fear stops us from taking risks, and it’s needless to say that if you don’t go out on the branch, you will likely never get the best fruit.
I’m saying this because I want to share the exact step-by-step blueprint of how I make a living online and let you know that every risk is worth taking as long as it’s for a good cause and contributes to a good life.
I’d love nothing more than to share my money guide and tell you that everything you’ve dreamt of is within arm’s reach.
If you want it so bad, go for it, see what I have to say, and stop playing it safe or otherwise, you’ll die wondering or be full with “WHAT IFS.”
The opportunity I’m sharing with you works like a charm, but you must understand that this is a real business you’ll be building, so please don’t expect to make thousands upon the first week of starting.
My advice is to go through my money guide, listen carefully to what I have to say, and then decide whether you want to pursue this or not.
Somewhat like you, I was once an average Joe trying to figure out how this making money online thing works.
Nowadays, I’m a changed man, slightly more affluent, and transformed into someone that will always be able to generate income online.
Till now, things have been going great for me, and I was able to build a four-figure monthly source of passive income online, and believe it or not, that’s just the tip of the iceberg as others are clocking that same amount in just a few days.
My business line is competitive, but that shouldn’t worry you much since it’s a clear indication that there’s money to be made.
Regardless of what anyone says, a flower does not think of competing with the flower next to it; it just blooms.
I believe it’s about time I end this Stash Invest review, so hopefully, I was able to provide you with a clear answer of whether it’s a scam or not.
If you have any questions or simply want to contact me, please be my guest and comment below. 👋
This is interesting to know. I used Stash back in 2017, and the gains were pretty decent. However, I didn’t take out more than a few thousand at a time. I treated the fees like they were the cost of doing business.
After the gains included the costs, I also aimed to cash out on the stocks. I never realized they charged so much. I also would never close my account with my money still floating in their possession.
I recommend cleaning out all your accounts first and then closing your accounts. I am glad to know that they have started holding the money longer these days.
I will not go back with them when I start reinvesting.
This was very insightful. I was able to find better ways to invest my money to get it back without a problem.
The most important part of investing is having your earnings when you want or need them.
I heard about Robinhood, and I’ve been hearing about Acorn lately. Which one do you think would be a better investment app to use?
Thanks for sharing your experience with Stash. It’s precisely what this review needed.
Yeah, there has been a lot of buzzes around Acorn, but I’ve never tested it myself. On the other hand, Robinhood is a pretty good app, and I’ve personally used it for several years now. Other apps are equally good, but I mainly use them because of the %0 fees.
I hope that helps.
I have never dealt with investments, but for some time now, I have been considering starting to read a bit more about it to see if this is something I would like to do.
But as you say, the fees in this one are far too high for a beginner. I think I will look into other alternatives that are more beginner-friendly.
By all means, I encourage you to go for it.
Just make sure to set your objectives, assess the level of risk, study the stock market, and most importantly, control your emotions.
I think you’ll like the Robinhood app better, and please make sure to reach out to me if there’s something I can help with.
This is a great honest review of Stash Invest and was really informative.
I am currently using a very similar investing platform called Raiz Invest and it really is a great way of not only investing but also saving while making your everyday purchases through the round-up feature.
Thanks for sharing this.
I’ve heard of Raiz Invest before. Solid app, but I still believe Stash Invest is superior. Whatever suits you best, Mark. The choice is yours.