Raiz is a great app to start investment. Raiz connects to your bank account and invest your spare change for you.
They also offer reoccurring investments of daily, weekly, monthly at any amounts you want.
If you spend $2.10, then Raiz will round up to the next dollar and in this case, raiz invest 90 cents.
Raiz Rewards.
there is lots of companies that offer cash back rewards into your Raiz accounts. Its like a shopback.
Cons
Raiz is they charge $2.5 in fees per month.
That mean
you are paying 30% if you start from 100$ I won't recommend this one.
You are paying 3% if you are starting from 1000%
1.5% if you are starting from 5000 that's better
0.27% if you are starting from 10000 that's better.
If you have Less than 5k, I would recommend to save in bank get around 2% interest without taking risk.
Which portfolio should I choose?
Well I think we are not smart yet or we are just learning about it so I will say diversified portfolio would be great. When you choose less diversified portfolio then there is more risk too. So just keep to the conservative until you understand properly.
How much did I get return?
Here you go this is my return around 3.89%. that's better than bank but I don't have to pay fee at my bank. Well I haven't invest from 5000. I did not understand first then I try to get 10k faster to save my fee %.
If you join using this link, we will both get $5 when you use my invite code: https://app.raizinvest.com.au/invite/QAL6UH
I hope someone might find it helpful.
Thank you