How to Build Wealth with Credit Cards and M1 Finance

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How to Build Wealth with Credit Cards and M1 Finance

Рет қаралды 16,742

Rob Berger

Күн бұрын

Пікірлер: 27

@ElCatrinMuerto 3 жыл бұрын

Who knows how much money I could have earned by doing this. I've always been of the mindset to avoid credit cards and never took advantage of this. Oh well, look into the future and don't dwell in the past. Great video.

@JoePike-ku6mm Жыл бұрын

Hey, Rob. I am a recent subscriber to you channel and cannot thank you enough for all the fantastic content. I feel I have picked up more knowledge and confidence from your videos in the past week for my pending retirement than in the previous three decades of dealing with my paid "financial experts." I will soon be checking you out on Patreon, as well. Thanks to you, I recently opened an account with M1 and that does seem to be a terrific platform. However, I have recently seen some complaints about their policies on lending out their customer's securities and that those securities that ARE loaned out may not be protected by SIPC. Any thoughts on this?

@noveltyrobot 3 жыл бұрын

Just started doing this. Decided to go fully on SCHD.

@Tiggerpepper 2 жыл бұрын

SCHD is slow one ☝🏼 buy the companies in it better for growing faster

@gardeningandgrowing6357 3 жыл бұрын

Great video sir. Thank you.

@RahimX 2 жыл бұрын

Wow, didn't think of this. Thank you for this.

@wx0084 2 жыл бұрын

Not sure I want to reward Wells Fargo for their recent Fraud and Greed.

@seandelaney2297 2 жыл бұрын

Great Video and strategy to accumulate rewards for investing. Why take the short term gains hit by selling and re-buying positions between brokerages for BOA and Wells?

@robertbarry1792 3 жыл бұрын

What do you think of Fidelity 2% rewards credit card?

@stevenhogue592 3 жыл бұрын

I have a Fidelity Visa Card and it great. Originally I had an IRA With Fidelity. Once I got the card, I set up a taxable brokerage account with Fidelity so that every month or so 2% of what I have spent on the card is automatically deposited to my money market account. I then purchase a Total Market index fund with the proceeds (FSKAX) that has a very low expense ratio (.0015%). I have accumulated almost $12,000 in the account. It taken me

@rob_berger 3 жыл бұрын

It's an excellent option. It makes investing your rewards as simple as possible, and 2% on all purchases is excellent.

@obrientracy1 11 ай бұрын

love it ! Set my rewards to invest back into my fidelity account, so easy!

@chriswilkes4350 2 жыл бұрын

So what is so good about M1 Finance? What's the advantage?

@garywagner7476 3 жыл бұрын

By changing platforms and re-purchasing your positions, did you create a taxable event?

@Casturm 2 жыл бұрын

I’d love to know the answer to this question also.

@strangedotmachine9281 7 ай бұрын

Go Sox

@johncollado3610 3 жыл бұрын

Rob. Why don’t you move your entire 401K balance to M1 finance?

@rob_berger 3 жыл бұрын

I've given that a lot of thought. Haven't ruled it out, but of course, I can't move my current 401k. I could move rollover IRAs. Part of the reason I'm reluctant to do so has to do with my plans for my wife should I get hit by a truck. While I love M1, I think she would be better off working with Vanguard's advisors.

@tanlilman Жыл бұрын

For the credit cards you don't use anymore, do you close those accounts? Or just not use them? Wondering how it affects credit if you bounce around to different credit cards.

@jeno5735 Жыл бұрын

Always keep old credit cards open for credit history. Closing will remove the history and lower your credit rating.

@herculesrockefeller8969 Жыл бұрын

Agree with Jeno. I read that the credit rating companies like you to have at least two cards, so they can judge how you handle multiple accounts, and then base your rating on that. so keep at least two.

@daniel.longfellow Жыл бұрын

A portion of your credit rating comes from the average length of credit account as well as your oldest account.

@donalddavis6689 Жыл бұрын

Hi Are You Doing? Rob Berger, I Just Want A Regular Visa Credit Card For Grocery & Clothes Shopping.. But At The Sometime I Want To Build Up My Credit Score And Credit 💳.