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  • Writer's pictureDonnelle Brooks

Raiz vs Spaceship: A comparison

Investment apps are rising in popularity, and for good reason. They are an easy way to get started in the stock market without a huge investment. If you've been considering using an app to invest, you may be wondering which one to use. Well, I have good news! I use both and so I am going to compare the two and tell you the pros and cons! Let's jump right in!

Spaceship vs. Raiz: Which is a better option for your money

Investing your hard-earned money is a crucial step towards securing your financial future. In the age of technology and innovation, you have more investment options than ever before. Two popular choices for modern investors are investing in a spaceship or using a financial app like Raiz. In this article, we will compare these two options to help you make an informed decision about where to allocate your funds.

Spaceship vs. Raiz: Which Is Right for You?

Let's look at some of the main differences between the apps that would sway your decision. I have used both for multiple years, so can offer some insight over what points to consider when choosing. There are 3 main things to consider, fees, portfolio options and returns.

Spaceship vs Raiz: Fees

Spaceship charges a monthly fee of $2, whereas Raiz charges a much bigger $4.50 per month. When I started with both there were no fees for either. Raiz has slowly crept up until it was just not worth having it anymore.

Spaceship vs Raiz: Portfolios

Spaceship offers 3 portfolios based on what you would like to invest in (click here to learn more about Spaceship portfolios.) It's pretty straightforward and easy to understand. Raiz offers a wider range of portfolios based on what risk tolerance you have, but it is hard to find out exactly what companies they invest in.

The main difference is how the portfolios are presented. With Spaceship, you can choose ethical or tech style investments. With Raiz, you can choose conservative or aggressive approaches, which is a more traditional way of looking at investing.

Personally, I think that Spaceship portfolios are better because you can see what companies are invested in and how they are doing, right in the app.

Spaceship vs Raiz: Returns

Raiz had a lot steadier returns with good growth over the years that I had it. Spaceship was a lot more volatile, and I have yet to see any returns from the money invested. That being said, they invest in tech, so i believe they do have potential for large growth in the future. That being said, there is a risk there will be no returns, so it depends on your risk tolerance.

Let's take a moment to look at the platforms separately. For a more indepth look, you can find my article about Spaceship here, and my article about Raiz here.

Spaceship: A Futuristic Investment

Spaceship is an investment platform that takes a unique approach to investing. It allows you to invest in a portfolio of leading global companies, focusing on technology and innovation. Here are some key points to consider when evaluating Spaceship as an investment option:

1. Diversification

Spaceship offers diversified portfolios that invest in well-known companies such as Apple, Amazon, and Tesla. This diversification can help reduce risk in your investment portfolio.

2. Focus on Innovation

Spaceship concentrates on companies at the forefront of technological innovation. This focus can potentially lead to higher returns, but it also comes with higher volatility.

3. User-Friendly Interface

The platform is user-friendly and designed to make investing accessible to everyone, even those with little to no investment experience.

4. Transparency

Spaceship provides regular updates and insights into your portfolio's performance, helping you stay informed about your investments.

Raiz: A Micro-Investment App

Raiz, on the other hand, is a micro-investment app that rounds up your everyday purchases to the nearest dollar and invests the spare change for you. It offers the following features:

1. Automated Investing

Raiz makes investing effortless by automatically investing your spare change. This can be an excellent way to start investing if you have a limited budget. Spaceship offers this feature also, but I could never get it to work.

2. Portfolio Options

Raiz offers a range of portfolio options with varying levels of risk, allowing you to choose one that aligns with your financial goals.

3. Financial Education

The app provides educational content to help users make informed financial decisions.

4. High Fees

Raiz charges high fees, making it a less cost-effective way to start investing.

Spaceship vs Raiz: Conclusion

Choosing between Spaceship and Raiz ultimately depends on your investment goals, risk tolerance, and preferences. Spaceship is best suited for those who want to invest in high-growth technology companies, while Raiz is ideal for individuals looking for a simple, automated way to start investing with small amounts of money.

Personally, I prefer Spaceship due to the lower fees and investment in tech. Raiz did give me more steady returns, but the fees were eating into those and ultimately were just not worth it.

Before making a decision, it's essential to conduct thorough research and possibly consult with a financial advisor to ensure your investment aligns with your financial objectives and risk tolerance. Both Spaceship and Raiz offer unique features, so you can explore both options to determine which one aligns better with your financial journey.

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