Why wait? Invest now with Porfirio Sanchez Galindo

For many, investing can be a terrifying action verb. Subtle art has the propensity to give someone millions of dollars in the future, but it also has a reputation often infused by the means of breaking another person’s bank. And again.

Mexico City.- According to the economist and specialist in fintech Porfirio Sanchez Galindo, the investment does not have to be approached with as much fear as it often is. It is a simple matter of understanding what you are doing and why you are doing it. And, says Porfirio Sánchez Galindo, understanding investment today is much easier than understanding yesterday.

With fintech (financial technology) leaving its mark on the entire financial sector and actively seeking ways to merge traditional financial methods and technology, the investment has grown in the form of several easy-to-use mobile and online platforms.

Read Galindo’s tips to take advantage of these tools below.

Online investment at a glance

The consumer financial services company, Bankrate, discovered that 83% of Millennials say they will never retire. The reason? They don’t believe they will have enough money to do it. But with online investment, this narrative has the potential to change.

Dozens of new fintech companies have become pioneers of people’s extra money. Investment options are what they offer, with the most successful applications targeting a specific clientele (for example, Millennials) and providing simplified and low-cost forms of investment.

The most successful tools are those that eliminate jargon or complicated financial procedures and satisfy consumers in their respective levels of knowledge. There is no shame in admitting it: as a society, our knowledge of personal finances seems to have reached a historical minimum.

There is no easy answer to this situation, but general digital trends remain possible culprits. Today’s readers are exemplary “scouts.” The way we absorb information is very different from the way we absorbed it twenty years ago. The growth allows for more information saturation, but it certainly does not help with long-term retention.

So, are you interested in investing, but don’t know where to start? Do you lack enough financial knowledge to feel comfortable taking the leap? Consider the following investment tools.

Tools for you

(Note that these are not affiliate links)

1. Acorns

Does not have money? No problem. Acorns is probably the best online investment tool for those who … well … don’t have much money to invest. But as Porfirio Sanchez Galindo emphasizes, that does not mean that he cannot invest!

Thousands of Millennials are afraid to invest because they think they absolutely “need” this money for daily expenses. To combat this, Acorns (when linked to your credit or debit card or PayPal account) rounds all purchases to the nearest dollar and then invests the difference in one of the five diversified portfolios listed on the stock market.

Do you want to invest more? You can set up automatic investment payments from your bank account. There is no minimum account for Acorns, although you must provide $ 5 to start investing. And although rates start at just $ 1 per month, Galindo warns to evaluate its growth after a month of investment. Acorns is excellent for the small-scale investor, but if nothing is invested except the difference in transactions, $ 1 can actually be a large part of your initial investment.

2. Robinhood

Similar to Acorns, Robinhood is made for the beginning investor. The difference? Absolutely no cost (except for lower sales rates). Robinhood also allows its users to exchange full shares, as well as participate in the cryptocurrency .

Of course, the platform requires you to make investments, so you will not have the advantage of having rounded debit, credit and PayPal purchase. But again, Robinhood is another low-risk and easy-to-use option for the beginning investor.

3. TD Ameritrade

How about an education? The TD Ameritrade mobile investment application is designed for the beginner who wants to learn. It offers options for the integral investigation of the stock market and the analysis of individual companies. In addition, a collection of educational videos flooded with investment advice promises the school to anyone who wants to channel their internal academic content.

Without a minimum account and without commissions, TD Ameritrade is another option worthwhile for someone looking to enter the investment game.

Why invest now?

The above tools are simply a small sample of what Fintech has to offer. Other popular investment platforms such as Digit, Stash, Wealthsimple and Twine (just to name a few) offer their own investment strategies and advantages, tailored to people.

Why not take advantage of what is offered? The financial technology experts such as Porfirio Sánchez Galindo only predict that the industry will grow and, as a result, the financial longevity of consumers.

What suggests the success of investment tools such as Acorns or Robinhood is that many people want to invest and improve their respective financial health. However, the key is to help people do exactly that, instead of simply urging them to participate in something they don’t understand.

Fintech investment platforms have found ways to simplify investment. There is no better time than now to start planning for the future.

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