Looking for a simple way to start investing and build wealth without the stress of stock picking or market timing? Moka, formerly known as Mylo, is a Canadian investing app designed to help you grow your savings automatically—one purchase at a time.
How Does Moka Work?
Moka makes investing easy for beginners and busy individuals by rounding up your everyday purchases to the nearest dollar and investing the spare change into a diversified portfolio. For example, if you buy a coffee for $3.25, Moka rounds it up to $4.00 and invests the extra $0.75 for you. Over time, these small amounts can add up to significant savings, helping you build an investment habit effortlessly12.
Key Features of Moka
- Automated Roundups: Link your debit or credit card to the app, and Moka will automatically round up your purchases and invest the difference.
- No Account Minimums: Start investing with whatever you can spare—no large upfront deposits required2.
- Managed S&P 500 Portfolio: Moka offers a fully managed portfolio designed to mirror the S&P 500, leveraging a proven long-term investment strategy345.
- Behavioral Tools: Features like streak tracking and progress milestones keep you motivated and consistent with your investments3.
- Additional Financial Tools (Moka 360): For $15/month, Moka 360 includes premium features like debt repayment planning, bill negotiation, double cash back on select brands, and access to financial coaching6.
- Quick Withdrawals: Need your money? Withdrawals are processed as quickly as the next business day1.
No comments:
Post a Comment