The Beard Man is excited! Why, you might ask? Well, it is because he has finally found a simple way to invest his money in the market with minimum cost, maximum ease, and maximum control. And it’s all thanks to a company from the storied city of Chicago.
With M1, you can automatically invest in what you want for free. Try it today and get $10 to invest! http://mbsy.co/lN3dC #BeInvested
Any of you who have read the musings of 30pinions before will likely know that Beard’s grow best when the money tree is in bloom. Does that make any sense? Probably not; so let’s be clear – the more money I give to someone else, the less I have for myself. Because of this, the Beard Man has learned of the wonders of Index Funds, and has gone on a journey with you all exploring various “Robo-Advisors.” Investing your money through a “Robo” is great because:
- 1. It’s simple to do it right, with limited know-how;
- 2. You can normally start with very little money;
- 3. You aren’t giving away much of your earnings to line some other guy’s pockets.
I’ve worked at Financial Advisor. Good ones tend to make a lot of money. They are a “services” industry; they aren’t creating anything physical to buy. That means they are making money by transferring it from your pocket into theirs. They are a lot like lawyers. The successful ones are good salesmen, and their main job is to convince you that you don’t have the knowledge to do what they do. For the privilege of their knowledge, they charge you a fee, AND THEY DO PROVIDE YOU VALUE. But what if you could get nearly the same value at and pay $25 dollars instead of $100? I bet I know which one you’d pick. Now, what if I told you that you could spend 10 extra minutes and spend $2 instead of $25? See where I’m going?
M1 Finance offers a robust and professional app and website. You can invest with an initial deposit of $100, and then you can continue to invest with as little as $1. You can set up recurring investments to “set it and forget it.” You can choose from a number of investment options that give you a great portfolio for a beginner. If you want something more advanced, they also have a number of “expert pies” that can help you to invest in more complicated ways. Hell, you can even try to mirror a Hedge Fund, if you want! And if you have a big, bushy Beard, you can even pick and choose your own investments.
M1 Finance allows for fractional share investing, meaning your dollars are not being wasted, earning nothing, like they probably are in your checking and savings accounts. M1 Finance offers a form of dividend reinvestment, setting it apart from MOTIF. M1 Finance lets you control how your funds are invested through percentage allocations and custom “slices.” M1 Finance charges you $0 to purchase shares. AND, M1 Finance doesn’t charge you a management fee.
So what gives? You have all this control and next to no costs. Well, unlike Wealthfront, Betterment, and WiseBanyan, M1 Finance does NOT have a questionnaire designed to discover your needs and build you a custom portfolio. But the Beard Man will share with you how to overcome this little setback in his next instalment.
Til then, give the company a look. It really does have me excited! If you use my link, you will get $10 towards your new account: http://mbsy.co/lN3dC
30pinions 