Anyone Use RAIZ App for Everyday Investing

Llilblank29 on 03/05/2019 - 14:47

I just found out about RAIZ app and would like to know if any Ozbargainers use it and what they think of it.
I am not knowledgable about investing on shares etc but would love to know more without huge upfront costs(ie making loss when i don't know what the heck i am doing).

Any thoughts and recommendations are greatly appreciated.

About RAIZ:
Raiz is a revolutionary new automated investment service delivered via an easy to use app. It allows you to automatically invest your spare change into a diversified portfolio of exchange traded funds (ETFs). Raiz is about investing small amounts of money on a regular basis and accumulating wealth over time, without affecting your lifestyle. It can be thought of as the digital equivalent of a coin jar.

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Comments

  • Caped Baldy on 03/05/2019 - 15:14

    https://www.ozbargain.com.au/search/node/raiz
    https://www.ozbargain.com.au/node/441363
    https://www.ozbargain.com.au/node/379320
    https://www.ozbargain.com.au/node/395243

    I was previously but the fees were relatively high. Not a bad way to get your foot in the door but there are better options. A good idea would be using this to build some capital ($500-$1k) then bpay to buy some eft.

    Please note this app was previously called acorns.

  • rambutann on 03/05/2019 - 15:28

    I generally use it, its a much better option than shares or leaving your money in a bank account. Fees are only high if you dont have at least $5k in it..

    I would recommend it.. I have taken all of my money out personally.. but thats only because the ASX has done way too well for how average the market is doing.
    Next time theres a moderate crash i'll put my money back in.

    Its very easy to use, just go high risk its not that risky..
    Its really easy come tax time because they give you a breakdown of the total figures that need to be inputted.

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