How to Invest $1,000: Open a Robo advisor Account

It's easier than ever to access low-cost, automated investing advice.

Ipad with chart
(Image credit: Getty Images)

Robo advisors, those automated investment services offered by banks, brokerages and other financial firms, promise low-cost, computer-driven investment management geared to your goals. If you want to understand how to pick the best robo advisor for your needs, see our guide which analyses the offerings from 10 companies.

Although $1,000 is not enough to get started at Charles Schwab (it’s a heavy-weight competitor in robos, but its Intelligent Portfolio service requires $5,000 to open an account), it’s plenty for SoFi. 

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Nellie S. Huang
Senior Associate Editor, Kiplinger's Personal Finance

Nellie joined Kiplinger in August 2011 after a seven-year stint in Hong Kong. There, she worked for the Wall Street Journal Asia, where as lifestyle editor, she launched and edited Scene Asia, an online guide to food, wine, entertainment and the arts in Asia. Prior to that, she was an editor at Weekend Journal, the Friday lifestyle section of the Wall Street Journal Asia. Kiplinger isn't Nellie's first foray into personal finance: She has also worked at SmartMoney (rising from fact-checker to senior writer), and she was a senior editor at Money.