25 Money Experts Share the Best Way to Invest $1,000

By Jim Wang

A better priced option for people just getting started and with small amounts to invest would be a “robe-advisor” like Betterment. At Betterment the cost to invest $1,000 would be zero initially and then only about $.30 per month afterward. The power of this model’s cost savings is even further compounded if the person is going to be investing a set amount of money each month. If they invest $500 every month and have to pay trade fees to diversify the amount every time – that will really eat into their balance and earning potential.

At a robo-advisor there often aren’t trade fees and the monthly cost is very reasonable – 0.35% annually at Betterment.

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This article originally published August 1st, 2016 on GOBankingRates.