There are a lot of good reasons to invest. Investing can provide you with greater wealth in the future as well as a more secure future. It can help you achieve financial freedom down the road and maybe even allow you to travel or send a grandchild to college free of debt.
Whatever your reasons for wanting to invest, if you are a beginner it is sometimes hard to get started. There are several reasons why beginners should use robo-advisors to invest and make getting started a whole lot easier.
Time is a precious commodity which, once wasted, you can never get back. If you don’t like wasting time a robo-advisor might be a good choice for you. Robo-advisors offer automated investing to help you make investing fast when you don’t have a lot of extra time to begin investing on your own.
2. Remove the Guesswork
Using a robo-advisor for your investing needs not only saves time it can also remove the guesswork involved in investing. When you are just getting started you may lack the know-how to invest wisely.
You could spend hours trying to figure out the best investments on your own. Or, you could take a gamble with your money by making a risky guess. However, if you choose a robo-advisor you can avoid both wasted time and guesswork.
Many robo-advisors use phone apps to allow you make a quick check of your investments from almost any location at any time. Rather than waiting for a call back from a human investor or going through numerous steps to look it up on a computer you can use your smartphone instead.
4. Low Minimums
When you are a beginning investor you may not have a whole lot of money to start your investment portfolio. A robo-advisor can help with this problem too. Most have low deposit minimums and some have no minimum deposit amounts at all.
What does this mean for the new investor? It means you don’t have to wait until you have saved up thousands of dollars to begin investing. It also means you can start building wealth to reach your investment goals sooner rather than later.
5. Low Fees
Most robo-advisors beat the competition when it comes to their fees. In fact, one charges no fee at all until your portfolio reaches a certain point.
Of course, the amount of fees you will pay depends on which robo-advisor you choose. But overall they are generally lower than traditional investment firms when it comes to how much you pay for portfolio management and trading.
6. Financial Planning
One argument some people make against using a robo-advisor is that they don’t offer financial planning. The truth is that even some brokers don’t offer financial planning as a part of their services. But when it comes to robo-advisors even that is changing.
Some robo-advisors offer full financial planning in order to help you meet your future investment goals.
There are a lot of good reasons to invest for your future. As you can see, there are also several reasons why beginners should use robo-advisors to invest in order to meet those future goals.
Why do you think beginners should use robo-advisors to invest?