Betterment Makes You Rich On Your Smartphone!

 

Betterment

Have you ever wanted to get rich while relaxing? That luxury is no longer reserved for only the ultra rich like Warren Buffet! Betterment is a great app because of how user friendly it makes the process of investing and watch your money grow. By simply installing Betterment on your device and setting some money aside in the account, you will begin to make your money work for you! The mobile application makes investing into stocks and bonds very simple and straightforward.




 

How does Betterment Work?

Of course, Betterment doesn’t manage your money for free, they would go out of business if that were the case! What makes this app get the Updatepal mark of approval, is how low the service fees are. 0.25% is the annual fee that Betterment charges for managing your investment funds.

This means that if you have $100 in the app, each year they will charge you a measly 25 cents. The value that you get for the fee is invaluable, however. Free phone support is included, so if you are starting out investing, and have questions about how the application works, there will always be someone there to walk you through the process.

 

User Friendly Application

The ease of using the application is the next great point! Before this application hit everyone’s phone, investing used to be rather complicated for all except the most veteran investors. Mobile technology has advanced to make this process much more straightforward and accessible to everyone who wants to watch their money grow, so long as they have a smartphone.

Betterment gets a thumbs up because of how simple, yet user friendly and effective the design is. If you are just beginning to get into investing, this is the best way to dip your toe in the water, and learn as you begin to use real money and see how the markets work.

The free android and iOS app takes the uncertainty of hand picking individual stocks or securities, and sets your money aside into mutual funds instead. This way, your investment portfolio is automatically diversified, meaning that you are risking less by investing into mutual funds, rather than individual companies. The old saying goes, don’t put all your eggs in one basket!

 

Freedom to Choose

The application does give you the freedom to decide what percentage of your portfolio goes into which variety of security, however. You can decide to put 90% of your funds into stocks and 10% into bonds for a higher risk portfolio, or do the opposite, and take on less risk, with a portfolio of 70% bonds and 30% stocks, for example. The liberty to decide how to diversify your portfolio is another great perk of the Betterment application.

 




 

Premium Betterment Accounts

It is possible to expand the investments that you can make with the Betterment application by upgrading your account to premium. The extra perks that you get are access to 401k accounts and Roth IRA accounts, in addition to some other alternative investments as well.

While these features are nice, it comes at the cost of a 0.40% annual fee, compared to the normal account annual fee of 0.25%. For those who are just getting into investing, the normal account will work just fine for learning and getting the hang of things.

 

The Verdict

Jon Stein’s Betterment mobile app is great for both investing beginners and veterans alike. This is because of the very low fees that Betterment charges, in conjunction with the value and user friendly design that the application has. It is hands down the easiest way to invest and watch your money grow, all just by relaxing and checking your phone! For more investing information, check out investopedia.com, which hosts quality information on a wide variety of investing topics.




 

As always, check out Updatepal.com for more tech updates coming soon!

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