Betterment Review--My Experience Using Betterment to Invest Our Credit Card Rewards

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Betterment Review--My Experience Using Betterment to Invest Our Credit Card Rewards

Рет қаралды 16,074

Күн бұрын

Betterment: robberger.com/...
I've started using Betterment to invest our credit card rewards. In this video I walk through my experience using the robe adviser. I'll show you my account any how our credit card rewards will be invested.
We'll look at a number of features, including:
-Asset location (Betterment calls it a Tax-Coordinated Portfolio
-Tax loss harvesting
-Goal setting
-Betterment's Core Portfolio Strategy
-Betterment's Flexible Portfolio
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ABOUT ME
While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I'm the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money.
I'm also the author of Retire Before Mom and Dad--The Simple Numbers Behind a Lifetime of Financial Freedom (amzn.to/3by10EE)
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.
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Пікірлер: 36

@jeffgraver7205 8 ай бұрын

Would love to see an update to this portfolio.

@nrossman89 Жыл бұрын

Can you do an updated video on this and if you are still using it?

@noveltyrobot 2 жыл бұрын

Certainly looks very feature rich. Had an account back in 2017, nice to see how far they've come.

@chp21600 Жыл бұрын

Thank you for this video! I am new to this subject and I learned about Betterment from my finance course. I appreciate this overview very much!!

@MikeBuechele 2 жыл бұрын

I didn't know they had a design your own portfolio option. I've had a Roth IRA with them for years and pretty much just set it and forget it. Now I might make a 3 fund portfolio with them and compare to M1.

@kingming869 2 жыл бұрын

I've been transferring my cash into the cash reserve account from my bank, instead of my investment account. Wants to see how the market reacts in next couple of months before I transfer them into my investment account.

@DavidMontgomery1 2 жыл бұрын

Looks interesting. Thanks for the tour!

@mrstein80 2 жыл бұрын

I just opened a Betterment account a year ago, last July. I’ve been DCAing weekly into a safety net account and two general investment accounts, splitting between the regular core and the innovation portfolio at 90/10. I didn’t create those accounts at the same time, but I just leveled them off and contributing the same amount to each one. Will see which one does better. I’ve invested about $27k total since last July. Mostly from weekly DCA but little additional buys randomly and when market dumps. So far the entire account is down about $2k across the the three buckets. The innovation account I’ve had for a year says -18% personal rate of return and core which I started is -15%. Safety net down 8.7%. This is historically overall, not YTD. Only down $2k overall though, which seems not terrible given I started this account near the top of the market. And $850 tax losses harvested. Going to stay the course for now .

@ventrova5962 2 жыл бұрын

Same... been losing money. Started in 2021 as well

@ernestotheawesomeone 2 жыл бұрын

I love betterment. I’ve had an account with them for a couple of years. I’m in a core portfolio account with 95% stocks, 5% bonds. And despite the market being down almost 30%, my portfolio is only down about 12% YTD. Being able to set up automatic transfers make it easier for me to be consistent with my investments. Also they have DRIP. The only con I can say is they cap the referral rewards. Lol. Also use their checking and cash reserves. Pretty cool that you can setup where the interest you earn on the cash reserve will automatically be transferred to the portfolio. Betterment is the one I’ve recommended to family and anyone who wants to go with the “lazy” investor approach.

@mrstein80 2 жыл бұрын

I just opened a Betterment account a year ago, last July. I’ve been DCAing weekly into a safety net account and two general investment accounts, splitting between the regular core and the innovation portfolio at 90/10. I didn’t create those accounts at the same time, but I just leveled them off and contributing the same amount to each one. Will see which one does better. I’ve invested about $27k total since last July. Mostly from weekly DCA but little additional buys randomly and when market dumps. So far the entire account is down about $2k across the the three buckets. The innovation account I’ve had for a year says -18% and core which I started is -15%. Safety net down 8.7%. Only down $2k overall though, which seems not terrible given I started this account at the worst recent time. And $850 tax losses harvested.

@Omar-et7sb 2 жыл бұрын

ROM Spaceknight!? I did not know you were a geek, Rob!

@fabiGBOtown 2 жыл бұрын

Question: how did you like their allocation? Small cap value/growth + vti etc? Did it look good to you?

@rob_berger 2 жыл бұрын

They tilt towards value, which I do like. Of course, you can create your own allocation that doesn't tilt at all.

@Mike-123 2 жыл бұрын

You mentioned thinking long-term and potential consequences of wanting to move funds to somewhere else down the road. One thing I've had trouble wrapping my head around with services like this is what impact does purchasing partial shares have on something like that? I'm assuming Betterment plays the partial-share game. Up until now, it's something I've avoided.

@rob_berger 2 жыл бұрын

Partial shares of ETFs is much more common today. Fidelity even offers it (Stocks by the Slice). So I'm not too concerned about that. And if need be I could always liquidated the partial share.

@Mike-123 2 жыл бұрын

@@rob_berger Yeah, I figured liquidation would be the answer (which isn't the end of the world). The only issue with that is if you're dealing with partial shares over and over again over many years, it seems like it could end up being a bunch of partial shares to liquidate rather than just a single last one (per position). I don't know if they try to consolidate partial shares into whole shares along the way as more are added (if that's even a thing).

@thoryan3057 2 жыл бұрын

I find it such a tease that your rewards investment balance is higher than my current entire retirement savings. I'm young, mostly new to investing (2 years), and have time on my side, but CREDIT CARD REWARDS exceeding my entire (long-term) savings efforts? Come on! 😂

@manuvns 2 жыл бұрын

I invest with betterment when portfolio drops 5-10% otherwise I pay debts

@dineshparthiban 2 жыл бұрын

How do we invest credit card rewards? Is there a special credit card?

@rob_berger 2 жыл бұрын

This is an old video, so my strategy may have changed: kzfaq.info/get/bejne/sNOYqMR7ybKbaac.html I'll work on an update.

@CJ-ul6hm Жыл бұрын

Other than for $4 monthly fee or .25% is there any other fees? I’ve seen some recent reviews on the Apple store that talk about account closing fee and fees to withdraw your money and transfer it to your linked bank account but Betterment website states no their are no additional fees?

@fabiGBOtown 2 жыл бұрын

Hi Rob, did I miss the live this week or did you not host one? I thought it was Tuesday cuz of 4th of July

@rob_berger 2 жыл бұрын

Didn't have one on the 4th. Tomorrow I'll be interviewing Bill Bengen, father of the 4% rule, on the show.

@rh8453 2 жыл бұрын

Great video. What is your opinion on the Acorns investment platform? I’m currently investing $1600.00 a month. Last year I had 15% returns, this year I’m down 4%.

@rob_berger 2 жыл бұрын

I like it for those that want to automate certain aspects of savings (e.g., round-ups), but it can be more expensive. Overall I prefer Betterment.

@manuvns 2 жыл бұрын

Acorns cost more money 3$ per month M1 finance is cheaper aka free

@the_wiki9408 2 жыл бұрын

$3 a month is cheaper than Betterment once you have $15,000 or more. And for large balances it can be 1/10 or 1/50 the cost. The problem for me is Acorns seem to market towards young people just starting out. if you are starting from zero and putting in $100 a month, and you only have $1500, then $36 a year is a huge fee at 2.4%. But since it is still a small amount in dollar terms, if it is what gets you to start saving, then it is worth it! If you were doing $1600 a month, then in 1 year you are well past the point where Acorns 3$ a month is a great deal.

@manuvns 2 жыл бұрын

@@the_wiki9408 most people should put money in ira or 401k before taxable account

@the_wiki9408 2 жыл бұрын

@@manuvns I agree. But that doesn't change the discussion as all of these offer IRAs.

@triunegroup 2 жыл бұрын

I opened an M1 account after watching your video on that platform. I purchased 12 stocks that I use their products on a regular/monthly schedule, in order to get the higher percentages. To that end, I collect a nice monthly rewards purchase to my Pie(s). I actually stopped using my AMEX and switched to my M1 Rewards credit card. So, my question is: why the switch from M1 Finance to Betterment??