One of the most common questions we get from new Ellevest members is whether they have to pick individual stocks — or whether they can. Portfolio Manager Kristen Goodman has the answer.
No, not as an Ellevest member. That’s just not the kind of investing that our platform is built to help you do.
Buying and selling individual stocks can be risky. You might have an educated guess, but nobody can consistently predict how one stock will perform in the future. Not even people who are paid to do it for a living!
At Ellevest, we're here to help you invest toward your long-term goals, like building wealth over time and retiring well. Those are important. Our platform is built to help give you the best chance we can of hitting them.
Our algorithm uses the info you tell us about yourself and your goals to match you up with a diversified investment portfolio of exchange-traded funds, or ETFs, which are baskets of lots and lots of different stocks put together. Historically, diversifying your portfolio like that has been a more reliable way to build your bottom line than trying to pick individual stocks. All you have to do is make a deposit, and we’ll take it from there.
If you do decide to trade stocks somewhere else, we just recommend that you only use money that you’d be OK with losing, if things go south. But for your other goals — the ones you’re looking forward to the most — there’s Ellevest.
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