Betterment Review:

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So as far as investments are concerned they’ve got a ton of different options including a standard investment account, joint accounts, traditional IRA’s Roth IRA’s, 401K rollovers, education options, and even trust accounts as well so as far as investment vehicles are concerned they’ve got you covered regardless of what your investment goals may be. Now Speaking of those investment goals, you may be wondering how they decide where to actually invest your money. Some platforms like acorns allow you to pick from an assortment of different portfolios that have varying levels of risk, Wealthfront on the other hand assigns you what is called a risk score and recommends a portfolio based on that risk score and betterment is very similar however they are largely going to be focused around what’s called goal-based investing. And this is exactly what it sounds like, but it’s investing based on what financial goals you are personally trying to achieve.

The specific investments themselves may vary a little bit depending on your portfolio but in general, it seems like the stock ETF’s track major US markets including international and emerging markets as well and when you account for the fact that each of these ETF’s can own several thousand companies and you are also purchasing multiple different ETF’s so rest assured that your money is going to be very well diversified in a way that is going to closely match your financial goals. Alright so that’s cool and all but how much is this going to cost. Well at the moment betterment has two different investing tiers with the first one being their digital investing plan that has a flat percentage fee of 0.25% which if you do the math on that, that’s going to be $2.50 per year for every $1000 you have invested. So that option is going to give you everything you need to get started including all of the features that we’ve talked about today but they also have a premium investing option for individuals who have $100,000 or more invested and this gives you do some additional tools including calls with their team of certified financial planners and more in-depth and personalized advice from those CFPs for a fee of 0.4%.

Alright so that’s the investing side of things which is largely the reason that people get this platform but I do also want to mention that they have a pretty cool banking option as well that is going to be a great extension of the betterment investing platform. So first you’ve got the cash account that is currently going to pay you 0.4% APY which is pretty good considering rates across the board are very low right now and all of the money in this account is going to be fully FDIC insured up to $1,000,000. Now as part of this account you’re also going to get personalized advice on how to save more, faster access to your money should you want to invest it, and they also have a spending option as well that is basically going to give you all of the perks of a checking account right under this same platform. Your spending account has no fees including reimbursements on all ATM fees which is pretty awesome plus a number of cash back rewards as well from a ton of different partner brands.

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LEARN MORE ABOUT: IRA Accounts

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Betterment is an automated investment service that has helped people grow their wealth since its launch in 2008. Its platform is designed to make investing easy and accessible to everyone, regardless of their experience or expertise.

One of the standout features of Betterment is its user-friendly interface. The platform is easy to navigate, with helpful tools and resources available at every step of the way. Betterment also offers a variety of investment strategies, so users can choose the one that best suits their needs and goals.

Betterment’s investment strategies are based on modern portfolio theory, which is a well-established financial theory that seeks to maximize returns for a given level of risk. The platform uses a combination of low-cost index funds and exchange-traded funds (ETFs) to build users’ portfolios.

Betterment also offers tax-efficient investing, which can help users minimize their tax bill and maximize their after-tax returns. The platform uses a variety of tax-loss harvesting techniques to help users offset capital gains and reduce their tax liability.

One of the unique features of Betterment is its socially responsible investing (SRI) portfolios. These portfolios are designed for investors who want to align their investments with their values, with a particular focus on environmental, social, and governance (ESG) factors. Betterment’s SRI portfolios are created using ETFs that screen for companies that meet specific ESG criteria.

Betterment’s fees are competitive, with a 0.25% annual management fee for its Digital plan, which includes investment management and access to financial planning tools. The platform also offers a Premium plan that includes certified financial planning professionals, but this comes with a higher fee of 0.40% per year.

Overall, Betterment is an excellent choice for those who want to start investing and want an automated service that makes the process simple and straightforward. Its low fees, tax-efficient investing, and socially responsible investing options make it an attractive option for a wide range of investors. With its intuitive platform and robust investment strategies, Betterment is an excellent choice for those who want to grow their wealth and secure their financial future.