How much money do I need to open an account on an investment app?

Many investment apps require a certain minimum deposit, but all of our top picks leave it up to you—the investor. Whether you’re considering one of the accounts on our list or you’re looking elsewhere, read the fine print of each account to determine how much you’ll need to open an account and if you’re prepared to spend that much.

How much money should a beginner invest for the first time?

How much you invest as a beginner is ultimately up to you and your budget. Many experts recommend setting aside 15% to 25% of your post-tax income, however this is just a rule of thumb. Run through your budget to determine how much income you have available to invest after all of your non-negotiable expenses have been taken care of. And remember, this amount can always be adjusted if there are changes in your income or financial goals.

Which assets should I invest in?

The mix of assets you choose to invest in should depend on your risk profile. When determining how much to invest in each type of asset, think carefully about your investment goals and your timeline for hitting those benchmarks, whether liquidity is important to you, and your willingness to stomach potential losses in a more volatile market.

How do I withdraw money from my account?

Most investment apps have a pretty straightforward process for withdrawing funds from an account. You can usually transfer money to an outside bank account after an investment sale settles, but it can be a few days before the money shows up in the outside account. Keep in mind that if you're taking money out of a retirement account, this could trigger penalties and tax consequences if you're not of retirement age.

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THE 10 BEST INVESTMENT APPS FOR 2023

The 10 best investment apps for January 2025