Richie Invest

An app that lets you invest with your friends

4.4/5
About

Richie is a social Investment platform developed for millennials by millennials. Create an investment goal with your friends & save together.

Would you recommend this product?
9 Reviews4.4/5

Any tool that creates an incentive to save is a good start, however, investing is best practiced as a long term practice. Investing with friends towards a common goal (a vacation, for example), and using Richie to set a targeted portfolio value fails as a good tool under the assumption that the estimated returns are realized. What happens if you book a trip based on what Richie estimates your portfolio value will be in 6-12 months from now, and the market tanks?

Pros:

Easy to use, investment incentives

Cons:

Mixing friends/family with investments + saving for a trip requires pre-booking based on estimated returns - if returns not good, unfunded!