Did you know, older millennials who do not prefer being called millennials are now “Xennials.” Woah, too much lingo to handle right. Well, this was just a millennial way to say welcome back.

In the first part of this series, we learned about the millennials and their tastes and preferences in investments. In this second part, we continue understanding the concept of millennial investments in a much deeper sense.

So, let’s begin without any further ado and enter the world of digital finance.

Best (digital) investment apps for millennials in 2020

Disclaimer – Millennials look for low-cost, mobile-friendly investment platforms.

Staying informed on what’s going on with your money or what is the best that you can do with it to grow personal wealth are services demanded by millennials. And with a number of financial apps easy to download and operate, it has never been this easy to keep track of money. But which services or apps are the best for me?

To make this easy, we have a list of financial apps that can work best for you.

Personal Capital

This is an app designed to offer budgeting, investment, and retirement services. It allows the user to sync bank accounts, credit cards, and event investments, and mortgage. This eases the user calculation, as users can see all their debts, income, and investments in one place.

Personal Capital assists users by determining what your investment risk level is and also recommends an asset allocation for you. The app delivers daily or weekly summaries of investments to keep users well informed.


Are you looking for worry-free savings? Then Acorns is the app for you. Seasoned in the genre, Acorns remains one of the most popular as it is extremely easy to use.

Honestly, you don’t really have to do a lot with Acorns on your phone. All you need to do is link a debit or credit card to your account, and Acorns will take care of the rest. The app will round up the total on purchases to the next dollar and invest the difference into one of the suitable ETF portfolios.

Acorns comes with a reasonable costing structure, and you spend a modest amount of USD 1 per month for Acorns Invest, which also offers a bunch of other features.


Recommended if you are someone who likes to avoid a trading commission. Robinhood is a fintech app that allows the user to trade stocks, ETFs (exchange-traded funds), and deal in cryptocurrency all for free.

Along with this freedom, the app delivers a smooth and slick mobile interface that makes trading even more easy and comfortable for the user.

The app is easy to navigate, and later, users intuitively move from scree-to-screen to trade. The app’s design and make also allow users to access a stock’s page from a search bar at the top of the screen and pulls up charts with important stats.

Another unique feature offered by Robinhood is the instant delivery of the first USD 1,000 worth of funds you deposit to the account to start trading immediately.

Apart from the ones mentioned above, you can also explore apps like Wealthbase, Betterment, Stockpile, YNAB, and more to see what matches your requirement the best.


It is not necessary to be an expert in order to begin investing. The idea is to find the right and most suitable investment option by adding some research that can justify the risk and returns.

Millennials indeed are going in the right direction by making technology their guiding light.

Therefore, if financial institutions have a game plan to succeed, going digital can take them a long way.

Don’t forget to check out our latest whitepapers on finance for more in-depth content on the subject.