I am a huge fan of investing apps that make money for you passively. We are all looking to one day drive around in a new lambo, and sit on our yacht sipping a nice refreshment. The sad truth is that will never happen if your not investing. M1 Finance is not only a great investing app, but will reinvest dividends for you in very cool way. If your smarter than the average person you can head over to there signup page here and get started. If you want to learn more of the benefits to using them we will cover how the app works step by step below.
Whether your a beginner or an experienced investor I think everyone can benefit from using the M1 app. They are currently the only robo advisor that lets you choose your own investments. Basically you create what they call pies, and add slices aka “stocks” to build your portfolio. After you’ve chosen your investments they will manage your account for you.
So how exactly does M1 Finance reinvest dividends? Well its not exactly the traditional way. When you create a pie with will say 5 stocks in it, and maybe 1 of them pays out a dividend. M1 will split that dividend up equally across all the stocks you own within the pie you’ve created. I have absolutely no issues with it since it will also add money to your other stocks to build up there value.
After you’ve gotten the hang of using the app you will have the option to create more than 1 pie. As of right now I am starting to work on a 2nd and 3rd. Technically there is no limit to how many pies you can create within the app.
Having used this app for over a year I think its one of the best robo advisors for anyone who wants to make money passively. M1 Finance does in fact reinvest dividends for you but with a bit of a twist. If you hope to one day drive a lambo, or sip an iced cold drink on your yacht head over to the sign up page. You can also see some additional resources on M1 here.
