If you’re a regular reader of this website, you’ve undoubtedly heard stories about bedroom retail traders becoming millionaires overnight, often on the back of a meme stock or cryptocurrency that was worth pennies one day and billions the next. It’s an alluring proposition, but for every day trader who got in (and out) at the exact right moment, there are thousands--if not millions--of armchair money managers watching their portfolio get pummeled. Timing the market right is statistically as profitable as a trip to Vegas, and at least there you know just how crummy your odds are. Instead, consider thinking about your money the way the professionals at M1 Finance do: Invest it, don’t gamble it.
Remember this point, and remember it well: Day trading is not investing. Day traders are like professional poker players: Anyone who tells you it’s easy hasn’t been playing long enough. The swings in wins and losses can be a stressful, full time job that requires immense knowledge and focus to even have a fighting chance at beating the market, and even then the unpredictable nature of (gestures broadly) everything means you need to be prepared to lose a ton of money in your quest to hit the elusive jackpot.
So what’s a fiscally reasonable person like yourself to do? Check out M1’s Finance Super App™, a powerful money management tool that encourages responsible and sustainable investing through automated allocations, easy portfolio rebalancing, dividend reinvestment, and financial goal setting that is attainable and realistic. M1 easily allows you to purchase stocks and ETFs (including fractional shares) with no obnoxious commission fees with your long term financial security in mind, not just the latest “to the moon” stock tip in a random Discord channel.
M1 was founded in 2015, not by a massive banking institution or hot Silicon Valley tech firm, but by a guy in Chicago named Brian Barnes who wasn’t happy with the status quo. Barnes realized most money management applications were charging unreasonable fees, requiring large initial investments, and ultimately not doing much to help you understand how your money was being allocated. 6 years later, M1 has over $4b in assets under management and a suite of investment tools that automate and optimize your portfolio, so even the most passive investor can feel confident in their long term strategy.
Of course, there’s nothing wrong with having some play money set aside to place more “ambitious” trades if your risk profile allows for it But your long term financial well-being shouldn’t be tied to whether or not Elon Musk is tweeting about your holdings. Smart investing requires a diversified portfolio with a medium-to-long term time horizon, and most importantly, a plan for getting from where you are to where you want to be. With M1’s Finance Super App, that plan could be at your fingertips.
Interested in learning more? Start with M1 Finance’s 10 Habits for Better Investing and open an account today.
Futurism Readers: This content was created by a non-editorial team and was paid for by M1 Financial. The views in this article don’t necessarily reflect the views of the Futurism editorial staff.
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