How to set up automatic investing

If you’re looking to grow your money, one strategy that can help you succeed is automatic investing.

What is automatic investing?

Automatic investing transfers money from your bank account on a regular basis to make investing easy. You simply choose when, where, and how much to invest, and the rest of the work is done for you.

With Plynk, you can automatically invest your money in stocks, mutual funds, and exchange-traded funds (ETF). By investing consistently, you’re putting good financial habits into action and eliminating the chore of transferring money and remembering to make new investments. That's one thing you can take off your to-do list!

If you have a retirement savings plan through your employer, such as a 401(k) or a 403(b), you may already be familiar with this concept. Automatic investing with the Plynk app (although different than a retirement account) uses the same easy approach and gives your money the potential to grow faster over time in the investments of your choice.

Auto investing with the Plynk app

When you buy a stock, mutual fund, or ETF with Plynk, you're given the option of a one-time purchase or monthly recurring investments.

To set up automatic investments:

1. Choose the stock or fund you want and tap Buy now
2. Enter a specific dollar amount you’d like to invest each month
3. Click on Market in the upper right corner of the screen (recurring investments are only available with dollar-based market orders)
4. Select Recurring and pick the date you’d like to invest on each month

Then read and check the box for the Recurring Transactions Agreement, review your order, and you’re all set!

Next steps to consider

If you haven’t already, finish the process of automatic investing by setting up recuring deposits. Need help choosing investment ideas? Try Plynk Explore.