Albert Genius is composed of a team of real human experts. Text us any financial question!
- Hi Genius! I want to start investing... but don't even know where to start.
- Happy to help! Are you looking to invest with a certain goal or timeframe in mind?
- I'd like to buy a house someday but probably not for the next 7-10 years.
- In the meantime, I'd like to invest the money I'm saving for the down payment to help it grow. But I'm worried about losing it all in the market.
- There's definitely some risk involved, but higher risk means higher potential reward. While there are no guarantees, here are a couple of things you can do to mitigate your risk:
- ⓵ Invest for a long-term period.
⓶ Invest for a long-term period.
- All of that is a fancy way of saying don't put all of your investments in one basket. So, given what you've said and based on the information you provided during signup, we'd recommend starting off with an automatic investing account, which we offer through Albert Investing.
- Instead of selecting your own stocks or funds, you can let Genius create a custom portfolio based on your timeframe, goals, and risk tolerance. We'll automatically reinvest and adjust your funds as the market changes over time to ensure your investments match your unique goals and needs.
- How does that sound?
- Sounds great, but first, can you tell me how much it'll cost to set up?
- Portfolio by Genius is a feature for our Genius subscribers, who can buy individual or themed stocks, get a custom portfolio based on their goals, and turn on auto-investing.
- On top of that, our portfolios are composed of low-fee ETFs. The cost of these investments (known as the expense ratio) range from 0.03%–0.12%, which is relatively low compared to funds that are actively managed. Plus, you can start investing in the app with just $1.
- Thanks for the info! Is there anything else I should know before I jump in?
- 💡 Please also note that with investing, there could be taxes on the gains you make. If you sell an investment within a year of buying it, it will be taxed at your income tax rate. If you wait a year, you'll be taxed at the capital gains rate depending on your income, which is generally 15%.
- Before investing a bunch of money and then selling your stocks, you should consider the tax implications and consult a tax professional regarding your specific situation.
- Oh good to know. So, how do I invest through the Albert app?
- You can open your Investing account in the app by tapping the Investing card on the home screen. And if you have any more questions, you know where to find us! 🤓