As many of you have already known, I’ve been doing weekly investing in VOO for over 12 months as of this writing.
What other investments or investment vehicle have I used to diversify my portfolio?
Betterment is an online service that helps you manage your money and invest for the future. Here’s what it does:
Key Features:
- Automated Investment:
- Betterment uses computer programs to help you invest your money. It picks a mix of stocks and bonds based on how much risk you’re comfortable with and how long you plan to invest.
- Setting Goals:
- You can set goals like saving for retirement, buying a house, or just saving money. Betterment gives you advice on how to reach these goals.
- Low Fees:
- Betterment charges a small fee for managing your money. This fee covers everything, including keeping your investments balanced and saving on taxes.
- Tax Savings:
- Betterment helps you save money on taxes by using smart investment strategies.
- Planning Tools:
- Betterment has tools to help you plan and keep track of your financial goals.
- Retirement Accounts:
- You can open retirement accounts like IRAs and 401(k) rollovers and get advice on planning for retirement.
- Socially Responsible Investing:
- If you care about social and environmental issues, Betterment offers investment options that focus on companies that align with your values.
- Cash Management:
- Betterment also offers high-interest savings accounts and checking accounts with no fees and ATM reimbursements.
Benefits:
- Easy to Use: The platform is simple and good for both beginners and experienced investors.
- Personalized: Betterment’s programs create investment strategies just for you.
- Accessible: You don’t need a lot of money to start investing with Betterment.
- Comprehensive Services: Betterment offers a range of services from basic investing to full financial planning.
Considerations:
- Limited Human Help: Most of Betterment’s advice comes from computer programs, so there’s less chance to talk to a real person.
- Fees: Even though the fees are low, they can add up over time, especially if you have a lot of money invested.
Betterment is great for people who want an easy way to invest their money with the help of technology and lower costs than traditional financial advisors.
