I am not a financial advisor, this is not advice. This post is just for fun, I’m just a weird dude who enjoys talking about finances. For further advice, please seek a professional financial advisor. Don’t sue me.

If you haven’t seen my previous blog about micro investing, or my original blog on Raiz vs Spaceship - check them out as it will provide some further background into this blog.

It’s been a few years since I wrote my original blog looking into micro investing platforms. Since then, I’ve left both accounts alone and thought I’d revisit them before I close them both as the fees are now becoming too much for me to hold onto. Realistically, I have been meaning to close these accounts off for a few years and just put the money into ETFs on SelfWealth, but alas, they were forgotten about.

To recap, a few years ago I put in $500 into each platform and let them run for a few years to see which would provide better returns. This is not the best way to use these platforms as you are consistently paying fees as long as the account is open, however, I did it to just track performance for this blog.

The Fun Stuff

Here are the stats over the years. On the 5th of November 2021 is where Spaceship peaked - Spaceship hit $902. On that same day in Raiz hit $585. Overall, both have returned a good chunk of change for my original investment with Spaceship providing $70 more than Raiz (and has lower fees, more on that later).

Fees

Both platforms now have fees (Spaceship didn’t under 5k). Spaceship has a $3 fee that comes out of your investment every month which I personally prefer. Raiz has a $4.50 fee that comes out of your connected bank account.

Conclusion

Overall I’m glad to be wrapping up with these platforms. I think micro investing is a great way to dip your toes into investing because you get to see your money move with the market. I’m now in a position where I prefer to just put chunks of money in and pay the one time fee using Selfwealth rather than a monthly fee. Spaceship is the winner out of the two in my mind, however, they have a much more riskier investment strategy which is heavy in the tech space. Thanks for reading! Now I can close out the Raiz account and no longer receive a notification every month that they’re taking my $4.50 for an account that I don’t contribute into. Cheers