What do younger investors want? They want to make money, of course. But they also want to make their own decisions and not spend a lot on fees. These three apps are among the most popular and useful for millennials and Gen Zers.
Robinhood: When it comes to the go-to investment app for Gen Z and millennials, Robinhood rules. Its plusses: No commissions, quick executions, a fun interface and a wide range of stock and crypto options. Robinhood, however, is weaker than other investment apps in portfolio reports, especially for tax planning — as many Robinhooders with significant capital gains find out when they do their income taxes.
When E-Trade launched in 1982, it was the Robinhood of its day. Credit: E-Trade
E-Trade: When E-Trade launched in 1982, it was the Robinhood of its day — a high-tech disrupter to the traditional way of buying stocks. With its low commissions, it became a fierce anti-establishment competitor to the venerable Wall Street firms — until it was bought by one of those firms, Morgan Stanley, in 2020. E-Trade offers reams of sortable portfolio data, robust stock screeners and abundant tax reports to help avert an April 15 nightmare, especially for Gen Zers and millennials, many of whom do their own taxes.
Looking to invest in bitcoin, ethereum, dogecoin or any of the myriad other digital tokens? The Coinbase app may be for you. Credit: Coinbase
Coinbase: Looking to invest in bitcoin, ethereum, dogecoin or any of the myriad other digital tokens? This app from the leading U.S. cryptocurrency exchange makes it easy with lightning-quick executions. Coinbase offers tutorials for new and experienced crypto investors along with social media shout-outs so you can discuss and debate buying opportunities. It comes with a best-in-class digital “wallet” to store your crypto or send it to others.