Taking the First Step Toward Wealth with Betterment
Welcome to Dollabuzz! For those just off the bench and new to the game, investing in the stock market can be confusing and intimidating. But don’t worry—it’s actually pretty simple. Here at Dollabuzz, we believe that investing in the stock market for the LONG term is essential. We’re not about get-rich-quick scams here; we’re about building wealth over the long term, which is done by investing through Betterment.
Opening a Betterment account is a great way to get started, no matter how much money you have. Betterment is a low-cost investing service that can get you on the path toward achieving your investing goals. Start your Betterment journey NOW and you’ll be feeling a strong Dollabuzz in no time.
Why I Recommend Betterment
I discovered Betterment when I was 19 years old. I started by putting $100/month into a Roth IRA account. The cost was low, the interface was easy to use, and it had the account types I was looking for. For the first year of my Betterment account, I paid less than a crumpled-up Lincoln in fees.
That’s a Dollabuzz right there. This is dirt cheap compared to many other accounts. Their website and mobile app are really simple and easy to use, especially for beginners. Betterment makes it painless to open the account type you want and check up on your investments.
Betterment’s Available Options
Betterment is a straightforward service, and you DO NOT have to hand over bags of cash. At Dollabuzz, we recommend opening an IRA or 401k as soon as you can. The Roth and traditional IRAs have different tax advantages, so you have to find which works best for you. Just remember, in the long-term, every dolla bill adds up!
How Does Betterment Work?
Betterment uses Exchange Traded Funds (ETFs) as their investments vehicle. This includes four bond ETFs and six ETFs that are made up of different stocks. This simplifies your investing portfolio, and you get to decide what percent you’re invested in each. If you’re not sure how aggressive or conservative you should be, Betterment will start you off with their best recommendation. Keepin’ it simple!
How to Join Betterment
Betterment.com is the website, and you’ll find a “Get Started” button right on the homepage. This will get you rolling with the sign-up process and you’ll be asked a few questions. These are designed to give them a better understanding of the kind of investor you are, as well as your risk tolerance.
After Creating Your Betterment Account
Once you sign in, you’ll connect your checking account in order to transfer funds to your account. Next, you’ll select the type of account you’d like to open; this will vary for everyone depending on their individual situation.
Keep in mind that just because you’re invested in ETFs and not picking individual stocks/bonds, this is still the stock market. Whenever you invest in the stock market, there’s always a chance you could lose some or all of what you have invested. Check back in periodically and adjust your investing strategy as your life and the market changes.
Other Ways to Dollabuzz
I recommend Betterment because it’s an investing service that I use myself—and I have for a long time—but I understand that it’s not right for everyone. There are similar sites (like Wealthfront.com) which are also popular, but I don’t have any money invested there myself. It’s impossible to keep track of all the options out there, so if you know of any that should be mentioned, please send me an email and I’ll check it out!
We believe that investing in the stock market for the long-term is essential to a strong Dollabuzz, and historically the stock market has provided a way to build wealth. Will there be bumps in the road? You bet—it’s always been this way, and it won’t stop anytime soon. Some years are better than others, but in the long term, the stock market is a smart way to make money.
Making smart money decisions and having a money plan are the keys to financial success. If you have any other questions about Betterment or any other topics I’ve discussed, I would love to hear from you. Shoot me an email and I’ll respond as soon as possible.
Dollabuzz Update: Good thing you stuck around until the end, because we have something new to share. Ever heard of the stock-trading app Robinhood?! As a special reward, check out the new post on Robinhood and find out why it is the HOLY GRAIL for new investors! Commission-free, of course!
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