eyes on
Robo-Advisors
Want to get invested but don’t want to hire a pro? Consider a robo-advisor. If you’re not familiar, allow us to give you the TLDR. Robo-advisors collect info about your financial goals, risk tolerance, and investment horizon before using an algorithm to create a portfolio (usually made up of ETFs and/or mutual funds) for you. Most robo-advisor fees are low, too. They can start at 0.25% AUM, compared to the typical 1% AUM (or more) that financial advisors charge. Here’s how to get started.
Your move:
Consider your options. Robo-advisors can be a good choice if you’re on a budget and don’t have a ton of money to invest. But if you want personalized investment recs, you should opt for a financial pro instead.
Compare features. Robo-advisor platforms vary, so find the one that best fits your needs. Some offer things like tax-loss harvesting and socially responsible investing. Others provide access to human advisors for additional fees.
Pick a provider. Wealthfront and Betterment are the OG robo-advisors, but financial companies like Charles Schwab and Fidelity offer these services, too. Psst…Ellevest caters to women.
for the group chat
Remote work is sticking around…
Especially for women, according to new gov data.
Technically, Americans are richer than they were a generation ago…
But what does it take to thrive?
People are traveling even though it’s $$$...
Because they know how to find a good deal.
Interest rates are high, competition is tough…
And homeowner wannabes are still looking to buy.
Highs and Lows
On Friday, bitcoin hit its highest level in nearly a year, trading at above $30,000. Behind the hype? The cryptocurrency has attracted the interest of major financial institutions like BlackRock, which recently registered a bitcoin spot ETF with the Securities and Exchange Commission. There are other companies getting in on the action, too. Invesco and WisdomTree also recently filed ETF applications with the SEC.
5-minute money tip
Check your company’s 401(k) vesting schedule.
Your employer may offer a 401(k) match, but quitting your job could mean forfeiting some of that extra $$$. Enter: your company’s vesting schedule, aka a timeline for how long until you fully own those contributions from your employer. Reach out to your HR team and get the deets so you can plan your money moves accordingly. Ex: If you switch jobs before your match is fully vested, consider negotiating a higher salary with your future employer to make up for that loss.
Bonus tip: Consider opening an IRA, which is completely separate from your employer’s retirement plan. There won’t be a match, but there will be more money for Future You. (You’re welcome.)
Design: theSkimm | Photos: JLco - Julia Amaral via iStock, Poike via iStock
Subject Line: "What It Is (Block Boy)" by Doechii, featuring Kodak Black
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