Houston Bookkeeping Tip: 5 Things You Need to Know About Robo Advisors

2. Best Robo Advisors for Beginners

Are you new to investing? Do you want to open a retirement account? Save for a home? Do you have no idea how all of this works? There is a robo advisor out there for you.

Here are a few features you want them to have:

  • Low minimum investing amounts.
  • Options for all essential account including 401(k), Roth IRA, etc.
  • Automated deposits.
  • Low to no upfront fees for ease of mind.

A great feature to look for in the beginning is the ability to purchase fractions of stocks. For example, Amazon is currently selling for about $1,800. Get a robo advisor that allows you to buy a fraction of it if you don’t want to put that much into one share.