Finally Achieve Those Elusive Savings Goals With Betterment
If saving money were easy, many Americans would have more money in the bank. According to a report by The Federal Reserve, 40% of adults in the United States don’t have enough saved to cover an emergency costing $400.
There are several factors that prevent people from saving money, such as overspending or a tight budget thanks to too much debt. Some individuals, however, simply don’t have a plan for saving. Enter Betterment, a personal finance application designed for investing and savings, helping users to create a personalized plan for achieving savings goals.
Investing With Betterment Begins With Your Goals
Betterment is a robo-advisor, but that doesn’t mean this automated service can’t provide a personalized approach. The first thing a new investor is prompted to do is get clear about their unique financial goals.
Users are asked to answer a series of questions. Based on those answers, Betterment puts together an individualized portfolio. For example, individuals who want to make investments that align with specific values can choose a portfolio strategy based on socially responsible investing. Someone who wants a careful approach to investing would be matched with a more conservative portfolio that lowers their financial risk.
Additionally, Betterment creates a clear plan to reach investment goals. Users are walked through the process of automating investments so they can walk away and let the service do the work.
Creating a Savings Plans With Betterment
The beauty of Betterment is how seamlessly they integrate investing for the long-term and saving for short term goals. In addition to an investment portfolio, this application helps users save for emergencies, a new car or the down payment on their next house.
To make it easy to stay on track, they create a plan for regular deposits into each account and help users through automating those deposits. This kind of automatic savings plan is associated with success in achieving financial goals and a great idea for anyone who intends to save but feels like life gets in the way.
Getting Started With Betterment
Users can access Betterment from a desktop computer or download the app on a smartphone for on-the-go use. After registering with their service, a series of prompts guides users through each step of creating their investing and savings plans.
The fees associated with Betterment are very reasonable, they charge 0.25% of account balances annually. There are also no account minimums, so it’s a great choice for anyone who is just getting started saving.
Saving may not be easy, but it can be simplified. Download the app, sign in and start dreaming about what the future of your finances could look like with the help of Betterment.
~Here’s to Your Financial Health!