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StashAway For Beginners — Is It Any Good? (Long-Term Review) - YouTube
Channel: Millennial Finance
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your investments are like this plant
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both of them need time to grow and just
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like this review
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we've taken nine months to grow on stash
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away like growing this plant
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i'm gonna put it over there so stash
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away after nine months
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after the hype is it worth it for
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beginners i've personally put
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more than 3 000 ringgit of my own money
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into this app
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so let's find out i've been using stash
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away since march this year and when i
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first joined stash away
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i was a complete beginner to investing i
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didn't know what all the investing lingo
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meant
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and i had no idea how robo advisors work
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so this is my review as a complete
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beginner
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when i first started using stashaway
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i'll be giving you my long-term review
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of the app
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and i'll go through my personal
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portfolios how i use stash away
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and a few things that i think they can
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improve on if you're a beginner and
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you're looking for a simple
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and safe way to invest your money on
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autopilot you want to know these
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important things about robo advisors so
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you don't waste your time
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using an app that's not suitable for you
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in a second i'll bring you into my app
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so you can see things first hand but
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before that
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i want to talk about the beginner's
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guide to investing and how i went from
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investing
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zero ringgit every month to now
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investing 500 ringgit
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minimum on a monthly basis since march
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this year
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and no i didn't have to get rich
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overnight all i had to do
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was create a habit around investing and
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stick to it because the most important
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thing
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you need to know as a beginner investor
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is that investing
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is a habit and the habit of investing is
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more important than the amount of money
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invested especially for beginners just
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like exercising or drinking water
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first thing in the morning when you wake
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up investing is a simple habit that
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gives you more and more returns
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every time you practice it and it's one
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of the most profitable habits you can
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create
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because if you want to be wealthy you
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have to invest
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there is no wealthy person out there
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today who has not invested their money
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but you might be thinking
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why should i invest now i'm young dumb
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and broke
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i don't have money to invest and those
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are fair points
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but you're missing the big picture the
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long term game the point is not to make
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10
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000 ringgit in your first month
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investing just so you can feel good
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about yourself
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the point is to develop the habit of
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investing slowly and consistently
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so that one day when you make more money
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than you can spend you will already have
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your investing habit
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by your side like a trusty companion
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that you've been nurturing
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since day one and just like you put in
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the effort to
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develop this investing habit your
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investing habit will pay you back by
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making sure that you don't lose money to
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inflation
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and that you actually grow your money so
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if you plan to be wealthy one day and if
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you're not born with a silver spoon in
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your mouth
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then i highly recommend developing a
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habit of investing
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as soon as you can 5 ringgit a day is
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better than 1 ringgit a day
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and 1 ringgit a day is better than
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nothing if you're a complete beginner
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don't focus on the amount of money you
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invest just focus on
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setting money aside consistently to
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invest if you do that
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it's already a huge step forward and
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you're way ahead of the crowd now that
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we got my pep talk for beginner
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investors out of the way
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let's go into the app when you launch
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the app the first thing you see besides
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the amount of money you have
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is the market commentary or news by
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stashaway this is their way of educating
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you about your investments
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so that if you want to you can actually
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find out more about what's going on with
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your money this makes stashaway a great
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app for beginners
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because stash away is more focused on
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creating useful content
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that their users can benefit from
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compared to other robo advisors
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in their academy tab you'll find all
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their videos articles and even courses
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to help you understand your money better
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so if you're a beginner and you have
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doubts about how this robo advisor
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invests your money then you can always
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find out more about how it works
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but let's say you're a beginner and like
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me you don't really want to go through
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all this content
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you just want to invest your money and
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forget about it even if i don't go
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through their content
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the fact that it's there for me when i
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need it makes me trust them
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a lot more of course the content alone
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is not the most important thing
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the most important thing is how much
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money i get in return for putting money
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inside
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but every time i launch the app and i
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see that they have up-to-date content
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about things that are relevant to my
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investments i have more confidence in
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them and i trust them more to manage my
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money
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and that's a big factor for investing
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apps the trust has to be there between
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you and the app that you're using
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especially if you're like me and you
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don't want to spend too much of your
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time
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diving into the details of your
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investments if i hired a financial
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advisor
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i'd have to trust them enough to handle
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my money with minimal input from my side
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so that i can focus on what i need to do
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one of the downsides to a robo advisor
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is that they're not 100
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personalized to you compare this to a
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traditional financial advisor
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who you can go to for personal advice
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but with their academy and market
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commentary slasheray is trying to give
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you more personal advice
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with their wide range of content
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available to their users
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now let's jump into my portfolios you
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can see the money i have in each
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portfolio
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and the risk index the risk index is
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basically how much you can lose in a
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portfolio for example
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in my general investing portfolio i have
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a one percent chance of losing 22
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percent
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of that portfolio in a given time in my
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buy a vehicle portfolio
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i have a one percent chance of losing
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6.5
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of that portfolio in a given amount of
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time if you don't understand what i just
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said
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don't worry because i don't even
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understand it well enough to explain it
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to you
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all you need to know is that the higher
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the risk index the more aggressively
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you're investing
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and the more risk you're taking with
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potentially more returns
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generally the more time you have to
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invest the more risk you should take
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so we always recommend young people to
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take as much risk as they can
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because they have a lot more time to
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invest 22 risk index is the highest for
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me while 6.5
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is the lowest so i have two portfolios
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at both ends of the spectrums
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very risky and not risky and i'll
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explain why later so let's go into my
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general investing portfolio and
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you can see the overview i've deposited
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1071 ringgit and right now in the
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portfolio i have 1144 ringgit
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so i've made 70 ringgit which i'm okay
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with these are the assets my portfolio
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is invested in
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and this is where they're invested here
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are the projections which basically tell
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me if i continue investing at this rate
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this is the amount of money i'll have
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but i don't really pay attention to this
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part what i do pay attention to is my
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monthly
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direct debits so this is how i automate
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my investing process
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with stashaway if we click on it we'll
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go into the my deposit plans
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which shows me all of my monthly debits
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from my bank account into this app
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so that i can invest automatically every
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month i don't have to do it manually and
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i don't even have to think about it it
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just deducts money from my bank account
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and puts it into my statuary portfolio
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the second day of every month you can
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also do it manually by clicking on the
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manual deposit tab
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i can add as many monthly recurring
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deposits as i like and add it to any of
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my portfolios
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every second day of the month 150
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ringgit comes out of my bank account and
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goes to my general investing account and
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333 ringgit comes out and goes into my
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buy a vehicle account i can change the
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deposit dates amount and frequency but
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the frequency is only limited
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to monthly and quarterly i wish i could
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schedule automatic deposits weekly
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so that i can invest small amounts
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weekly instead of larger amounts monthly
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but stash away doesn't have that feature
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so that's my general investing tab
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now let's go into my buy a vehicle
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portfolio no i don't intend to buy a
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vehicle this is just a goal-based
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investing feature
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and they didn't have the option that i
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wanted which was to buy a new phone so
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if stashaway could
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add a feature where i could customize my
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portfolio name that would be great but
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anyways i used this by a vehicle
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portfolio as sort of a piggy bank for me
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to save up to buy a new phone
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how i did it is i go to the gold-based
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investing i choose
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something i want so if what you want is
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not here like for me
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i just choose whatever let's say buy a
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vehicle then stash away will help you
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calculate how much money you need to
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reach that goal
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in my case i already know how much i
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need which is about
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3 000 ringgit for a new phone and let's
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say i have one year to save up for it
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the app will automatically tell you
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how much you need to put in every month
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for you to reach this goal
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and it also tells you what your
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recommended risk index will be
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which in this case with this amount of
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money and this amount of time
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is usually the low risk so in my case i
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had
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nine months to save up for a 3000
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ringgit phone and stashaway told me that
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to achieve this goal i need to
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invest between 328 to 332 ringgit every
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month
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so i invested 333 ringgit because the
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app invests for you
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you might deposit 3 000 ringgit but at
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the end of the time period
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you'll have 3100 ringgit so you made 100
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ringgit there's also a possibility
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of you losing 100 ringgit so if you
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deposit 3000 ringgit
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at the end of the time period you'll
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only have 2 900 ringgit which is why i
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don't really plan to
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withdraw the amount of money i have in
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my portfolio even though i've reached my
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goal when i reach my savings goals
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what i'll do is i'll take up 3000
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ringgit from my personal bank account
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and use it to buy the thing i want to
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buy not withdraw the money from slash
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away this is more of an advanced move
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but the reason is because
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one if my portfolio is not doing well at
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the time i don't want to withdraw my
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money and lose money and two
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i want to keep my money invested for as
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long as i can so that it keeps growing
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even after i've made my purchase so if i
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take up 3000 ringgit from my bank
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account
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and use that to buy a new phone my 3000
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ringgit that has been saved in stash
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away will still be invested this
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trains me to plan for big purchases and
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to save money consistently before i
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spend it's a psychological game
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but that's why it's so powerful i love
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games and gamifying my savings and money
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management
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is a great way to practice investing and
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build my discipline when it comes to
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money management
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there's also stash away simple which is
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kind of like a fixed deposit it's the
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lowest risk and safest investment you
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can make on this app
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but it also has the lowest amount of
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returns i just put 100 ringgit in there
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just to test it out
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i don't use it that much but if you're
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worried about losing your money and if
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you just want to give stash away a try
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stash away simple might be a great
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option for you because you can see your
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returns weekly
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so that's my long term review on
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stashaway as a beginner what i like
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about them
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is that they have a clean and easy to
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use interface i like how they put out
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content regularly on their academy to
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educate their users their customer
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support is professional and fast
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if you have any questions or concerns
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you can email call whatsapp or even
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facebook message them
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and they'll typically get back really
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quick and the platform is also secure
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i haven't noticed any security issues
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since i've been using it and if you want
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to change your settings there is always
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fingerprint authentication
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i feel safe and confident putting my
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money in here and it gives me peace of
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mind
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what i think they can do better is to
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add a few features like adding a weekly
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deposit plan instead of just a monthly
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or quarterly plan
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this way users can get more exposure to
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the markets over a salesman period of
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time and i really wish that i could
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personalize
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my portfolio names it's not a huge thing
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but it would be a nice
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user experience update if you're new to
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investing and if this video helped you
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make a decision on whether or not you
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should invest in stash away let us know
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down in the comments below
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we'd love to hear it if you want to
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start creating your investing habit with
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stashaway
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you can use the link in the description
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and you'll get a sweet bonus just
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because you watch our channel if you're
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looking for other beginner-friendly ways
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to invest
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watch this video on our honest review of
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writes invest app
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if you're a little bit more daring and
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you want to choose exactly which stocks
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you want to invest in
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watch this video on how to buy stocks
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with etoro so that you can start
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investing in your favorite companies
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i'll see you in the next one
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