Investormint https://investormint.com Personal Finance Tools and Insights Wed, 28 Oct 2020 16:15:18 +0000 en-US hourly 1 https://wordpress.org/?v=5.5.2 https://investormint.com/wp-content/uploads/2017/02/cropped-investormint-icon-649x649-20170208-32x32.png Investormint https://investormint.com 32 32 Shawn Johnson Net Worth: How Rich Is She? https://investormint.com/celebrity/shawn-johnson-net-worth https://investormint.com/celebrity/shawn-johnson-net-worth#disqus_thread Wed, 28 Oct 2020 15:14:57 +0000 https://investormint.com/?p=13990 Shawn Johnson net worth is estimated at around $9 million, primarily from sponsorship of products like Crest toothpaste.

The article Shawn Johnson Net Worth: How Rich Is She? was originally posted on Investormint

]]>
Today, Shawn Johnson is proud mom to one-year-old Drew Hazel. She is comfortable in the spotlight, and she has openly shared her struggles with pregnancy, miscarriage, and motherhood.

She writes, speaks, and makes connections with followers, and she focuses on providing a safe space in which other women on the same journey can feel seen and heard.

However, Johnson East’s current roles as author, blogger, influencer, wife, and mother aren’t her first foray into the public eye.

At just 16 years old, Johnson East competed in the 2008 Olympics, bringing home the gold for her extraordinary skill as a gymnast.

How have these extraordinary boosted Shawn Johnson’s net worth? Here’s the backstory to how she grew her wealth.

Shawn Johnson Rise To Fame

Every Saturday morning, mothers across America pack up their preschoolers and head off for gymnastics classes. It’s a way to build skills, release some energy, and have fun.

Chances are, when Shawn Johnson’s mom enrolled her three-year-old in gymnastics, she had no idea that 13 years later she would join hundreds of millions of spectators in cheering her daughter’s Olympic Gold Medal win.

At the time, Mrs. Johnson simply said, “The wild child just needed something to do!

Johnson might have started her career as a gymnast for fun, but it quickly became evident that she possessed a special talent for the sport. More importantly, Johnson had the discipline and passion to focus on gymnastics while peers spent their time on leisure activities.

In 2007, Shawn was selected for the US Senior Team, and it was immediately clear that she was one of the best gymnasts in the world.

In her first year, she was named champion of the 2007 American Cup, and she went on to collect three gold medals during the World Championships, among other accolades.

It was a foregone conclusion that she would join the 2008 Olympic Team, and soon she was off to Beijing for the Summer Games.

>> How Rich Is Demi Moore?

Shawn Johnson Olympics

The 2008 Summer Olympics took place in Beijing, China, and the United States was confident in its athletes.

A total of 588 individuals represented the US, and they had a presence in every sport except handball.

It was the year Michael Phelps set a record with eight gold medals in swimming, and Natalie Coughlin set a record for female swimmers by winning six medals.

While the US did not best China in total gold medals during the 2008 Summer Games, US athletes did win the most total medals.

Four of those medals came from Shawn Johnson, who placed in each of the four gymnastics events.

She won three silver medals, one in the individual all-around contest, another in floor exercise, and a third in the team competition.

Her pinnacle moment came when she earned the gold medal for her flawless execution on the balance beam. 

Johnson stepped away from gymnastics for a period after her 2008 Olympic experience, but by 2010 she was ready to compete again.

Unfortunately, just before trials for the 2012 Olympic Games, she was sidelined by an injury. Johnson finally decided to retire from the sport at the age of 20, ready to embark on the next chapter in her career.

>> What Is Charlie Sheen Worth?

Did Shawn Johnson Win Dancing with the Stars?

That two-year gymnastics hiatus wasn’t wasted. Johnson stayed in the spotlight by participating in another contest that showcased her physical talent.

She joined the competition on Season 8 of Dancing with the Stars, and in partnership with professional dancer Mark Ballas, she was crowned the show’s champion – the youngest person ever to win the title.

Other celebrities that participated in Season 8 included Belinda Carlisle, Steve Wozniak, Lil’ Kim, and rodeo cowboy Ty Murray.

Johnson’s Dancing with the Stars experience had a surprising impact on her future. In 2012, she was invited to compete in Season 15’s All-Star Edition.

During filming, Johnson was introduced to her future husband, football player Andrew East.

>> What’s Joe Rogan Worth?

Shawn Johnson: Husband and Kids

Some people just belong together, and when Guy East met Shawn Johnson, he knew she was the perfect choice for his brother Andrew.

Guy persuaded Andrew to fly to Los Angeles while Johnson was working on Dancing with the Stars, where he introduced the two.

His intuition was right, and the couple liked each other immediately. Though they didn’t start dating right away, within six months, they were an item. In April 2016, Shawn and Andrew were married in their Nashville home.

A year later, the newlyweds learned they were expecting, but within days of the news, Johnson East went through a miscarriage.

The pair was devastated, and Johnson East later told followers that she experienced a lot of guilt over losing the baby.

Though her physician assured her that nothing she did caused the miscarriage, Johnson East was convinced that her time as a gymnast was to blame.

She had consumed so few calories and worked her body so hard, that she felt certain she caused irreversible damage.

>> Is Mike Tyson Rich?

Does Shawn Johnson Have A Baby?

In 2019, Andrew East and Shawn Johnson East welcomed their daughter, who they named Drew Hazel. In interviews, they expressed that their new baby felt all the more precious to them after their 2017 loss.

Johnson East described some of the most stressful moments of her pregnancy, which came when genetic testing indicated a possible medical issue.

shawn johnson net worth

Photo Credit: The Ray Center – CHARACTER COUNTS!, CC BY 2.0, via Wikimedia Commons

She shared her joy at learning her daughter would be born without complications, and she opened up about techniques she and her husband used to get through that harrowing time.

In a recent interview, the couple shared their thoughts on expanding their family further. While both are hopeful that another child will join them, they never forget how fleeting the joy of a pregnancy can be.

For now, they plan to relax and enjoy life with their toddler, leaving the timing of their next pregnancy up to the fates. Neither wants the pressure of formally “trying” and the disappointment that can bring.

>> What Is Tarantino’s Net Worth?

Shawn Johnson TV Career

Though Johnson East has been busy with her family, that hasn’t stopped her from participating in a variety of television projects.

She competed in the 2015 season of Celebrity Apprentice, and she has been featured on a wide variety of talk shows.

Some of these include The Tonight Show, The Late Show, The Today Show, Live with Regis and Kelly, The Ellen DeGeneres Show, The Oprah Winfrey Show, and Entertainment Tonight.

Johnson East frequently turns up in game shows and other competitive programs, whether she is competing herself or serving as judge for the shows competitors.

One year, she was a judge for the Miss America pageant, and another year, she was an investor on Adventure Capitalist.

In 2018, she and her family competed on Family Feud, but alas lost the contest to Olympic Gymnast Laurie Hernandez and her family.

>> How Much Money Does Nick Cannon Have?

What Does Shawn Johnson Do?

Johnson East makes frequent appearances on television, but she wouldn’t consider any of them steps on her career path. Her true focus is engaging her audience and opening up her life to help others work through the sorts of challenges she has faced.

One of her most courageous admissions was around her on-going battle with body image. Certainly, she was a champion gymnast, but she paid a price for all of those wins.

In a number of forums, she has shared that she used medication, restrictive diets, and extreme physical conditioning to keep her weight low. This also delayed the onset of puberty, which often puts an end to gymnastics careers.

She has spoken at length about the mental impact of physical changes that occur during pregnancy and through the post-partum period.

Johnson East has also been very open about her miscarriage and the emotional toll that experience takes on women and their partners. She regularly notes that normalizing conversations about miscarriage is critical for the mental health of those who have gone through them.

>> Emma Stone’s Wealth Is Surprising

Shawn Johnson Mom Blogger

As delighted as she is to be a mom, Johnson East often speaks of the struggles that parenting brings. There are all sorts of decisions to be made, such as breastfeeding or formula, and no matter what you choose, chances are someone will judge.

Johnson East is often targeted by critics for her parenting choices, and she handles the interactions with grace. She shares them as a learning experience for other parents who find themselves on the wrong side of so-called mom-shaming.

Johnson East is a prolific blogger and social media influencer, and she has written two books about her gymnastic career.

The second, Winning Balance: What I’ve Learned So Far About Love, Faith and Living Your Dreams, was published in 2012 and became a New York Times Bestseller.

Her most recent book is a novel for young adults that has semi-autobiographical overtones. Through her protagonist, she explores the peaks and valleys of being a young gymnast and grappling with the challenges of maintaining a healthy body image.

The accomplishment Johnson East appears most proud of is co-founding TheBodyDepartment.com. The site is dedicated to encouraging healthy discussion of wellness, fitness, and body image – a topic that she feels is critically important to girls and women everywhere.

>> Becky Quick Is Shockingly Rich

How Much is Shawn Johnson’s Net Worth?

Johnson East has dabbled in media and entertainment, but none of these brought her a significant paycheck.

Her primary method of generating income is through product sponsorship. 

Johnson East has served as spokesperson for major brands like Circuit City, Crest Toothpaste, and Eukanuba pet products.

She was the face of Nestle for a period, and in 2020, she promoted the Mentionables line of lingerie. Her net worth is estimated to be around $9 million.

>> Charlotte Casiraghi Is Extremely Wealthy

Shawn Johnson Net Worth Summary

In her short 27 years, Shawn Johnson East has had more adventures than an average person sees in a lifetime.

While she plans to develop her career further and have more adventures, her current focus is on home and family.

Johnson East’s popular blogs and social media pages fit right in with her child-centric lifestyle, and she is likely to stick with them for some time to come.

>> How Much Money Does Tulsi Gabbard Have?

The article Shawn Johnson Net Worth: How Rich Is She? was originally posted on Investormint

]]>
0
Is Fundrise Safe, Legit And Insured? https://investormint.com/real-estate/is-fundrise-safe-legit-insured https://investormint.com/real-estate/is-fundrise-safe-legit-insured#disqus_thread Thu, 22 Oct 2020 15:07:34 +0000 https://investormint.com/?p=13983 Fundrise is an SEC registered firm that offers an eREIT to investors who want exposure to real estate.

The article Is Fundrise Safe, Legit And Insured? was originally posted on Investormint

]]>
FUNDRISE SPOTLIGHT

fundrise logo

InvestorMint Rating

4.5 out of 5 stars

  • Minimum Investment: $500
  • Returns: 11.44% (net of fees)

via Fundrise secure site

We stumbled across a question “is Fundrise a ponzi scheme” recently and decided to explore further. Nothing injects fear into an investor’s heart like the risk of an investment being labeled as such.

So we decided to investigate. Specifically, we wanted to answer the question “is Fundrise safe, legit, and insured?”

To answer those questions, we first jump back in time to understand how real estate crowdfunding platforms, like Fundrise, came to exist in the first place.

How A Ponzi Scheme
Shattered Investor Confidence

For those who lived through the 2008 – 2009 Great Recession, a few events stand out.

The near bankruptcy of Bear Stearns in March 2008 and the actual bankruptcy of Lehman Brothers in September 2008 are two of the most prominent.

However, there is no individual who ignites deeper passions than Bernie Madoff – the former stockbroker who operated the largest Ponzi scheme in history.

is fundrise safe legit insured

Madoff’s scam didn’t contribute to the financial crisis. In fact, it was the financial crisis that exposed his fraud.

In December 2008, the news broke that Madoff’s “$65 billion hedge fund” – and its supposed returns – were entirely fabricated, creating massive losses within an already fragile economic ecosystem.

The experience made many investors deeply wary of “too-good-to-be-true” returns, but Madoff’s very public downfall did little to prevent new Ponzi schemes from swindling unsuspecting consumers.

In fact, in 2019 alone, state and federal authorities identified 60 Ponzi schemes in progress. Collectively, these schemes held $3.25 billion in client funds.

More investors are aware of the dangers posed by Ponzi schemes, but that doesn’t necessarily make it easier to avoid them.

Perpetrators are clever, and they possess extraordinary skill when it comes to instilling confidence and gaining investor trust.

With this in mind, it’s no wonder investors are questioning their own judgement in choosing investments. Such concerns are driving the question, is Fundrise a Ponzi scheme?

>> Fundrise vs Betterment

Is Fundrise A Ponzi Scheme?

Charles Ponzi became the face of Ponzi schemes when he was arrested in August of 1920.

For years, he convinced investors to give him their money in exchange for consistently high returns.

The problem with these promises – and Ponzi schemes as a whole – is that there was no actual investment.

Instead, con artists use funds from later investors to pay returns to earlier investors.

Ponzi schemes work as long as enough new investors pay in to cover returns owed to earlier investors.

Of course, that means more and more new “marks” are needed to support the weight of upper levels.

Often, earlier investors are key to bringing additional money into the scheme, because they received the returns they were promised and can vouch for the investment’s legitimacy.

They refer friends, family, and professional contacts, which keeps the cycle going.

The most common reason Ponzi schemes collapse is a run on principal withdrawals. 

If too many investors want their principal and interest paid out, there isn’t enough left to support the remaining members.

That’s what happened with Bernie Madoff.

>> REIT vs Fundrise

How The Madoff Ponzi Scheme Collapsed

As the economy tanked, large investors decided to move their funds away from Bernie Madoff’s fund.

He saw that his scheme was unsustainable, and he confessed to his sons – and later to government officials – that his hedge fund was entirely fraudulent.

While Ponzi schemes are named for Charles Ponzi, he wasn’t the first to successfully scam investors.

Well before Ponzi got into the business of fraud, Sarah Howe had already persuaded a number of women to trust her with their savings.

She operated in Boston in 1879 through an organization she named Ladies’ Deposit, and was eventually caught and convicted.

Perhaps the most astonishing part of Howe’s story is that after serving three years in prison, she managed to create and conduct a nearly identical scheme for another two years.

In nearly every case, careful research by investors would have exposed the fraud. Since the promised returns are essentially impossible to deliver, examining the underlying strategy of any Ponzi scheme would expose gaping holes.

Unfortunately, investors tend not to do this sort of research, and those that do allow the con artist to explain away any anomalies. As a result, Ponzi schemes can still be found in abundance.

With that in mind, smart investors are more diligent about researching any fund or investment plan before they buy in. In this case, they want to know, is Fundrise a Ponzi scheme?

>> RealtyShares vs Fundrise

What is Fundrise?

Real estate investment is a critical component of building wealth, but that presents a problem for those who aren’t wealthy to begin with. You can’t realize returns from purchasing and managing properties if you don’t have the cash or credit to buy those assets in the first place.

Some investors start small, buying residential properties to rent, or purchasing distressed buildings, renovating them, and selling for a profit.

However, even that is out of reach for many – and those that can afford these types of investments are typically not generating the sorts of returns that larger projects produce.

Participation in the larger, more profitable real estate ventures is often limited to institutional investors, because they have the necessary capital.

Groups of smaller investors have come together in innovative ways to find creative methods of entering the larger real estate market. Real Estate Investment Trusts (REITs) are one example. 

They work a bit like mutual funds in that they are publicly traded, but instead of pooling investors’ money to buy securities, they pool investors’ money to participate in the real estate market. They own, manage, and/or finance large projects like shopping malls, and profits are paid out to shareholders.

Fundrise was the first company to launch an eREIT or electronic Real Estate Investment Trust through crowdfunding. 

It operates in a similar manner to REITs, but there are critical differences. Most importantly, a REIT investment is an investment in a corporation that subsequently invests in buying, managing, and/or financing real estate. Those who invest in an eREIT are investing directly in specific properties or projects.

That distinction is particularly important for investors asking is Fundrise legit or is Fundrise safe?

While quality REIT shares can generally be liquidated right away, it’s far different for eREIT investments. These funds are tied up in actual real estate, much as if you had purchased a home, and it is something of a process to pull cash out.

Some investors find that illiquidity alarming, causing them to wonder whether Fundrise is a scam.

>> How To Be A Real Estate Investor

How Does Fundrise Work?

Fundrise started off as an experiment, and it rapidly gained mainstream attention.

Since 2012, a company that started with virtually nothing has invested in $4.7 billion worth of real estate nationwide – a total of more than 200 properties.

Today, Fundrise boasts 130,000 individual investors who collectively own more than $1 billion in real estate equity.

Essentially, Fundrise works like this: investors pool their money to make real estate purchases.

Some of the properties purchased are small – for example, single-family homes – but there are opportunities to participate in larger projects. These include the sort that are typically only available to commercial investors, due to their size.

There are four levels of investment, depending on how involved you want to be in this eREIT:

  • The Starter Portfolio – This option gets you involved in between five and ten smaller-scale real estate projects and requires a minimum $500 investment.
  • Core Plan – This more robust option is intended to diversify your exposure by including you in 40 or more unique projects. The minimum investment is $1,000.
  • Advanced Plan – You can participate in a much larger pool of projects, typically 80 or more, when you invest $10,000.
  • Premium Plan – If you choose to invest $100,000 or more, your portfolio is far more diverse. You have access to a variety of projects ranging in size from very small to massive.

Fundrise uses in-house expertise to select properties that appear undervalued.

The company then works to bring the property in-line with the market to generate profits through rent or sale.

Part of the company’s strategy is to keep expenses down by handling the logistics of these transactions in-house.

That means more profit goes back to investors, rather than into the pockets of various intermediaries. Today, fees stand at about 1 percent.

What concerns some investors is the illiquidity of their funds. They can’t simply withdraw whenever they wish. That isn’t because the company is a scam nor a Ponzi scheme – it’s because buying and selling real estate takes time.

In other words, if you expect to need your principal in the near future, this sort of investment might not be right for you.

Conversely, if your goals are longer-term, this is an opportunity to gain exposure to the lucrative real estate market.

>> What Is Turnkey Real Estate Investing?

Can You Make Money
With Fundrise?

Fundrise has already generated respectable returns for its investors, proving you can make money with Fundrise.

To date, averaged annualized returns look like this:

  • 2014 – 12.25%
  • 2015 – 12.42%
  • 2016 – 8.76%
  • 2017 – 11.44%
  • 2018 – 9.11%
  • 2019 – 9.47%

Of course, historical performance is no guarantee of future results.

The bottom line question for many investors is can Fundrise make you rich?

Unfortunately, there is no simple answer. Your returns depend on how much you put in, which projects you choose, and the success of those projects.

More importantly, how much you ultimately add to your own wealth through Fundrise depends on how long you leave your money in the program.

Real estate can be lucrative, but typically not overnight. Those that do get rich from real estate have patiently waited through years – even decades – of appreciation.

>> How Real Estate Market Cycles Work

Can You Lose Money
On Fundrise?

Fundrise is up-front about the fact that any investment is at-risk, given the nature of speculating in the real estate market.

In its SEC filing, the language is clear:

“Investing in our common shares is speculative and involves substantial risks. You should purchase these securities only if you can afford a complete loss of your investment.”

This is true of any investment you make, be it stocks, mutual funds, REITs, eREITS, and so on.

There are two specific risks to consider before you buy into Fundrise. First, the company pays a manager to choose and manage real estate investments.

Expenses related to hiring that manager are passed onto you, and that can impact your returns. That particular risk applies to most fund-style investments you make.

Second, Fundrise is a relatively new company exploring a new method of real estate investment.

While it is seeing positive returns, there is no guarantee of success for any period, short-term or long-term. Many investors like the Fundrise concept and have confidence that it will deliver profits, but they aren’t necessarily correct.

Before you put your own money in, examine Fundrise’s strategy and progress to decide for yourself whether the level of risk matches your comfort level. If not, step back and continue to monitor results before you move forward with your own investment.

>> What Are Qualified Opportunity Zones?

Is Fundrise FDIC Insured?

Fundrise is not FDIC (Federal Deposit Insurance Corporation) insured, but that’s true of any investment.

FDIC insurance covers account holders in banks and savings institutions that are simply holding your funds and perhaps paying you interest – not investing on your behalf. Such accounts are insured by the FDIC against failure of the entire financial institution.

In other words, if your bank goes out of business, the FDIC will ensure you get your money back up to the insured amount.

Investment accounts are also insured against failure of the brokerage. This coverage comes from the SIPC (Securities Investor Protection Corporation).

While your investments are not protected against losses if the company you invest in fails, you are protected if the brokerage firm you invest with fails.

Any cash in your account will be returned to you if something goes wrong with the firm.

>> RealCrowd Review

Is Fundrise Legit?

The bottom line is no, Fundrise is not a Ponzi scheme. Neither is it a scam from our research. If you’re wondering, is Fundrise legit? It certainly appears to be and has thousands of investors who agree.

“Is Fundrise safe” is another question. How your money is used, where your profits come from, and the cause of any losses is clearly explained and documented.

Remember, a Ponzi scheme uses cash from new investors to pay out profits to earlier investors. New investors are attracted through promises of guaranteed returns, and there are no actual investments.

Fundrise uses your investment to purchase real estate, and your returns are based on the performance of that real estate. Can you lose money with Fundrise? Yes.

No legitimate investment can guarantee returns. Does it take longer to cash out with Fundrise than it does with traditional stock? Yes. But that’s because Fundrise isn’t traditional stock. It is an eREIT.

>> How To Buy Real Estate Online

The article Is Fundrise Safe, Legit And Insured? was originally posted on Investormint

]]>
0
Can You Day Trade On tastyworks? https://investormint.com/investing/brokers/can-you-day-trade-on-tastyworks https://investormint.com/investing/brokers/can-you-day-trade-on-tastyworks#disqus_thread Tue, 13 Oct 2020 14:23:05 +0000 https://investormint.com/?p=13976 Can you day trade on tastyworks? Yes, provided your account balance meets the minimum required threshold for day trading.

The article Can You Day Trade On tastyworks? was originally posted on Investormint

]]>
TASTYWORKS SPOTLIGHT
tastyworks logo

InvestorMint Rating

4.5 out of 5 stars

  • Commissions: All closing trades are commission-free
  • Account Balance Minimum: $0
  • Commissions: $0 flat rate for stocks

via tastyworks secure site

If you are thinking of getting started in day trading, the first step is to get a clear understanding of the process – and the risks.

Next, you need a brokerage account that permits this sort of activity – and not every online service does.

Fortunately, you can day trade on tastyworks, as long as you meet certain eligibility requirements.

What Is Day Trading?

Day trading gets its name based on the fact that investors buy and sell the same securities within the same day.

That’s relatively unusual behavior for other types of investors, who tend to hold shares for weeks, months, or years.

In fact, some of the most successful investors keep the same shares in their portfolios for decades. For example, Warren Buffett has held onto Berkshire Hathway’s Coca Cola stock for more than 30 years, and he says he says he has no plans to sell.

The underlying concept of day trading is the fact that securities move up and down throughout the day, before settling on a closing price.

Sometimes, that movement is very slight, but if timed correctly a large purchase and quick sale (or vice versa) can generate solid profit – particularly when the trade is related to currency or highly liquid stocks.

>> Best Penny Stock Brokers

How To Day Trade Stocks Successfully

Day traders can theoretically practice this strategy in any market, but the activity is most common in stock markets and foreign exchange markets.

Essentially, day traders develop an understanding of what influences certain types of securities, and how that influence translates into intraday ups and downs.

Some factors that are considered include national and international news reports, which are somewhat unpredictable, as well as more predictable scheduled announcements like earnings reports, economic reports, and similar.

The idea is to become attuned to patterns – how the market and individual securities move under a given set of circumstances. For example, share prices often rise in advance of corporate earnings reports, then drop suddenly once the news is made public.

>> Best Warren Buffett Books To Read

How Much Money Do You Need To Day Trade?

The trouble with day trading is that earning real profit requires a relatively large investment.

The movements being exploited during this short window are comparatively small, so buying a few shares only generates a few dollars in profit.

Often, day traders invest a lot of their own cash, as well as large sums borrowed from their brokers – referred to as margin accounts.

can you day trade on tastyworks

A minor miscalculation can lead to dramatic losses of principal, not to mention the borrowed funds.

The risk potential is exceptionally high in day trading, which means it isn’t the right choice for those who are new to investing.

It is also a bad idea to attempt day trading with money you can’t afford to lose.

Given the interest in day trading from those who are new to the market, tastyworks offers a stern warning on the risks. The company says:

  • Day trading generally is not appropriate for someone of limited resources and limited investment or trading experience and low risk tolerance.
  • You should be prepared to lose all of the funds that you use for day trading.
  • In particular, you should not fund day trading activities with retirement savings, student loans, second mortgages, emergency funds, funds set aside for purposes such as education or home ownership, or funds required to meet your living expenses.

If you are confident that you are ready for day trading, here’s what you need to know.

>> tastyworks vs thinkorswim

Is Pattern Day Trading Legal?

According to FINRA (the Financial Industry Regulatory Authority), the official definition of pattern day trading is when:

  • an investor has four or more same-day trades within five business days, and those day trades are more than six percent of the investor’s total number of trades in the same five business days.

It’s important to note that  individual brokerage firms might have more restrictive definitions, as outlined in their policies and procedures.

This practice is legal, but certain eligibility requirements apply.

>> tastyworks vs Robinhood

What are the Rules for Day Trading?

While individual firms might have their own set of rules and requirements for day traders, two are universal.

They are set by FINRA in an effort to protect inexperienced investors from excessive risk.

  1. Day traders are required to have at least $25,000 in their brokerage accounts.
  2. They are only permitted to trade in margin accounts.

>> Interactive Brokers vs tastyworks

Why Do You Need $25,000 to Day Trade?

The short answer to the question of why you need $25,000 to day trade is this: for your protection.

There is substantial risk in this practice, particularly for inexperienced investors.

The theory is that if you have an account valued at $25,000 or more, it is likely that you have at least some experience in the market.

>> How To Invest $20,000

Can You Day Trade Without $25k?

While you can experiment with an occasional day trade, you can’t make a habit of day trading if your balance is lower than $25,000.

It’s a legal requirement, and brokerage firms are strict about enforcement.

Your ability to trade will be suspended until your balance returns to the required $25,000.

>> Is tastyworks the best trading platform?

Can You Day Trade on tastyworks?

You can day trade on tastyworks, but there is an important point to consider. As a day trader, you are likely to make multiple transactions per day.

You might be responsible for fees or commissions on some or all of your trades, which adds up surprisingly fast. 

It’s true that tastyworks has a relatively low fee and commission structure, but the impact to your profits should be factored in nevertheless.

>> What Are The Different Types Of Stocks?

Can You Trade Stocks on tastyworks?

If you aren’t quite ready for the risks of day trading, don’t worry – you can still get involved in investing.

When you open your tastyworks account, you gain access to a variety of tools and resources that can help you choose specific stocks to trade.

>> How To Buy Impossible Foods Stock

Do Day Traders Make Money?

Day trading is something of a controversial practice, so industry experts and analysts keep a close eye on relevant statistics.

The data show that some investors are able to make money through day trading, but it requires experience, a deep understanding of the market, and undivided attention to unfolding market conditions.

Those who are well qualified can generate as much as 50% or more annually. The key is that when the trade is successful, they earn more than they lose when a trade fails.

It is worth noting that generating a profit through day trading also takes cash. The magic number appears to be around $50,000.

Attempting to day trade with a lower amount doesn’t tend to generate the type of returns one would expect given the effort required.

Investing $50,000 or more certainly doesn’t guarantee success – it’s as easy to lose $50,000 as it is to lose $500,000 – but it does increase the odds of success somewhat for an experienced day trader.

>> How To Buy JM Family Enterprises Stock

The article Can You Day Trade On tastyworks? was originally posted on Investormint

]]>
0
Joe Rogan Net Worth: $150,000,000? https://investormint.com/celebrity/joe-rogan-net-worth https://investormint.com/celebrity/joe-rogan-net-worth#disqus_thread Fri, 09 Oct 2020 13:20:38 +0000 https://investormint.com/?p=7342 Joe Rogan net worth is estimated at over $100M thanks to his podcast licensing deal with Spotify. His UFC and Stand Up comedy earnings combined are estimated at $40M annually.

The article Joe Rogan Net Worth: $150,000,000? was originally posted on Investormint

]]>
Stand-up comedian, actor, mixed-martial arts commentator, host, and jiu jitsu black belt are just a few of the labels attributed to Joe Rogan.

Most recently, Rogan added another string to his bow when he inked a $100 million deal with Spotify to license his  wildly successful podcast.

He’s come a long way from his initial acting role as Frank Valente on Hardball in the early 1990s. Indeed it seems that Rogan has the midas touch, because virtually everything he touches turns to gold.  The only question now is will the Joe Rogan net worth tally rise as high as one billion dollar?

Joe Rogan Net Worth

Why Is Joe Rogan Famous? MMA Commentator, TV Host, JRE Podcast
How Old Is Joe Rogan? August 11, 1967
Gender Male
Is Joe Rogan Rich? $150,000,000+
What Made Him Famous? Spotify Deal, The Man Show, UFC
Nationality American
Pot Farm http://podcasts.joerogan.net/
Last Updated October 9, 2020

Joe Rogan Net Worth

Before Spotify wooed the #1 podcaster in the world, Joe Rogan was raking in the dough from hugely popular JRE Experience podcast that was distributed widely across platforms like YouTube.

Up until then, the JRE Experience podcast was estimated to generate as much as $50,000 per episode. With a quick back of the envelope calculation, you can see how this extraordinary revenue-generating machine attracted Spotify.

With as many as 5 episodes of long-form content each week, Joe was raking in an estimated $250,000 per week.

Do a little further math, and you end up with ballpark income of $12 million per year. Is it any wonder that Spotify decided to fork over a nine figure sum to entice Joe?

But wait, there’s more…

The $12 million per year is an estimate on what Joe earns from newly published content.  Add to that the millions of views stemming from previously published content and it’s very possible Joe Rogan had been earning as much as $36,000,000 annually from his podcast alone (you’ll see how we calculate that below) – that’s before the Spotify licensing deal!

joe rogan net worth

Include his salary earnings from his role as UFC commentator or his pay as a stand-up comedian (before the global pandemic kicked in a shut down stand-up comedy shows) where he regularly sold out to packed auditoriums and you’re talking serious riches.

Unlike most comedians, Joe wasn’t as dependent on a live audience, which further helped his net worth. His Netflix 1-hour comedy specials have also likely netted him big chunks of change.

He also has business ventures that further add to his vast fortune. Onnit is among his most famous ventures. Onnit is a supplement company that promotes a product called Alpha Brain, which Joe personally has endorsed.

We estimate Joe Rogan’s salary is $40,000,000+ per year which, when combined with the Spotify deal, would mean that net worth estimates of $150 million are likely underestimating his true wealth.

Indeed, if Joe were to continue earning at this pace for another decade, and invested his money wisely, it’s very possible that he could be a future billionaire before he hits old age.

Joe Rogan Stand Up Comedy

Joe has featured in comedy classics like The Man Show, Chappelle’s Show and Last Comic Standing.

He’s also had a storied career on TV, featuring in hit shows like Silicon Valley and hosting Fear Factor.

But his longest lasting career gig may be his stand up comedy, where he sells out shows to packed theaters across the country.

Some of his best comedy specials include Joe Rogan: Talking Monkeys in Space Joe Rogan: Rocky Mountain High, and Joe Rogan Live.

The list of Joe Rogan comedy specials includes:

Year Title Get It
2000 I’m gonna be dead someday Buy Now
2000 “Voodoo Punanny” Buy Now
2001 Live from the Belly of the Beast Buy Now
2006 Joe Rogan: Live Buy Now
2007 Shiny Happy Jihad Buy Now
2010 Talking Monkeys in Space Buy Now
2012 Live from the Tabernacle Online
2014 Rocky Mountain High Buy Now
2016 Triggered Netflix

Joe Rogan Experience (JRE) Podcast

The Joe Rogan Experience is one of the most successful podcasts of all time, featuring approximately 10,000,000 subscribers. You read that right… 10 million people subscribe to Joe Rogan’s YouTube channel: PowerfulJRE.

With his ever growing following, new episodes quickly rack up millions of views. This is an astonishing feat considering how new episodes are produced almost every day. It highlights what a loyal following of listeners he has attracted that they regularly tune in.

So what makes the Joe Rogan Experience podcast so good?

Each episode features a guest that Joe is personally interested in chatting with and learning from. For example, poker star Dan Blizerian’s Joe Rogan podcast ratcheted up almost 20 million views – even more than Elon Musk’s interview!

The conversational tone, informal setting, and relaxed discussions are a winning format. Plus Joe is a masterful interviewer. He lets chatty guests talk and doesn’t interrupt to hear his own voice as some others do. Yet when a guest is not very conversational he can fill in the gaps so the listener is constantly engaged.

For the most part, Joe Rogan podcast episodes feature comedians, mixed-martial artists and coaches, celebrity friends, and political commentators or personalities.

For example, comedians who regularly feature include Joey Diaz, Bill Burr, and Ron White.



Personalities in the mixed martial arts world include Eddie Bravo, Jeff Novitsky, Pat Miletich, Tyron Woodley, George St. Pierre, Brendan Schaub, and Stipe Miocic.

And in the political or current affairs domain, long-time friend and conspiracy theorist, Alex Jones, has come on from time to time as have controversial personalities like Milo Yiannopoulos, Ben Shapiro, and former Minnesota governor Jesse Ventura.

The Joe Rogan Elon Musk podcast remains the most popular of all time so far with over 32 million views and counting.

Many of the episodes feature musings about life, humanity, and the Universe. For example, you will hear Joe and his guests refer to ethnobotanist and mystic, Terence McKenna, who was famous for sharing his experiences taking psychedelic drugs.

Rogan has sometimes landed in hot water over his own discussions about cannabis and use of drugs. But he doesn’t shy away from it and even describes himself as a psychedelic adventurer which stems from his past experiences with the psychoactive compound, DMT.

The range of topics, personalities and celebrities featured is one of the main attractions of the JRE podcast. Indeed, some of the best Joe Rogan podcasts even features controversial figures like Alex Jones:

How Much Does Joe Rogan Make From His Podcast?

Although Rogan has not revealed precisely how much he makes from his podcast it is possible to make an approximate guess. YouTuber Graham Stephan has approximately 20% of the subscriber numbers that Joe Rogan has and earns ballpark $300,000 per month. 

Simple math says Joe with 5x the number of subscribers should be earning at least $1,500,000 per month. But the numbers don’t stop there. Because Joe produces long-form content whereas Graham produces shorter snippets.

And Joe Rogan doesn’t have just 1 YouTube channel, he has 2!

JREClips featuring the “best of” Joe Rogan Experience podcast also has millions of subscribers, meaning that Joe essentially double dips when it comes to making money from the content he produces.

Listeners who prefer long form content will earn him ad revenue from the original podcasts while those who prefer short snippets of content also bring in advertising dollars.

It’s very possible Rogan could really be earning $12 million or more per month from YouTube alone. If so, Joe Rogan’s net worth estimate of around $150 million could be off by a factor of 2x. He might well be rushing towards a net worth of $300 million.

Joe Rogan UFC Commentator
& Jiu Jitsu Black Belt

Rogan’s interest in mixed martial arts and in particular jiu jitsu was sparked when he watched the famous Brazilian martial artist, Royse Gracie, fight at UFC 2. Rogan was fascinated to see Gracie defeat much larger men by using jiu jitsu submissions.

Soon afterwards, he became a UFC (Ultimate Fighting Championship) interviewer but his deep understanding of martial arts catapulted him to the role of UFC commentator, a position he has held since 2002.

Most UFC promos feature Rogan’s enthusiastic commentary but he usually only commentates on UFC PPV (pay-per-view) events.

He is no slouch when it comes to mixed martial arts himself. At 14 he took up karate and by 19 he had won a US Open Championship tournament as a lightweight.

He was a full-contact state champion for 4 consecutive years in Massachusetts and even became an instructor.

Rogan earned his black belt in jiu jitsu under Eddie Bravo, who is the founder of 10th Planet Jiu Jitsu, which has over 100 schools worldwide.

Joe Rogan Wife And Kids

In 2008, Joe met his future wife Jessica Schimmel. Together they have a daughter, and Joe is also the step-father to Jessica’s daughter from a previous relationship.

You won’t hear or see much about them as Joe generally keeps his family life private.

What we do know is that together they first lived in Bell Canyon, California in a 7,500+ square foot house that cost him approximately $2.2 million in 2003. Most recently and famously, he moved to Texas; he claimed to be disenchanted with Los Angeles traffic among other gripes.

A likely reason for the move was the comparatively higher income taxes in California versus Texas. Even a reduction of 1% in taxes per year could mean millions of dollars now for Joe and his family.

Frequently, Joe mentions that he runs in the mountains and has attracted some controversy as a bowhunter.

He said the reason he took up hunting was because he had to choose between becoming vegan or hunting meat himself. Due to issues he had with mass produced farming, he couldn’t support the mass meat industry. He claims that he couldn’t survive without meat so he decided to become a hunter.

In interviews, he has shared that he hunts for all the meat he consumes and practices with a bow and arrow every day to improve his target accuracy.

Follow news on the Joe Rogan Twitter account and updates on his Joe Rogan Instagram account.  

>> How To Get Rich The Conor McGregor Way

>> Wow! Joel Osteen: House Photos, Net Worth & Books

>> Billion Dollar Fight: Conor McGregor Vs Floyd Mayweather?

The article Joe Rogan Net Worth: $150,000,000? was originally posted on Investormint

]]>
0
Ellevest Review 2020 https://investormint.com/investing/ellevest-review https://investormint.com/investing/ellevest-review#disqus_thread Sun, 04 Oct 2020 19:59:56 +0000 https://investormint.com/?p=3047 Ellevest is a robo-advisor by women for women. Management fees charged on emergency funds are 0% and financial goal setting is easy.

The article Ellevest Review 2020 was originally posted on Investormint

]]>
Founded by Sallie Krawcheck in partnership with tech entrepreneur, Charlie Kroll, Ellevest has a mission to get women invested in their financial futures and supports them in attaining their financial goals.

Ellevest offers three levels of service:

  • Essential
  • Plus
  • Executive

Ellevest Essential is an automated robo-advisor designed for the hands-off individual who wants Ellevest to manage her money without lifting a finger.

On the other hand, Ellevest Plus and Executive memberships allows for retirement account management, such as Roth and SEP IRAs.

Like most other robo-advisors, Ellevest relies on exchange-traded funds to build diversified portfolios and has substantially lower fees than most human financial advisors. On fees, it also comes up trumps when compared to many of its peers.

Ellevest Spotlight

ELLEVEST SPOTLIGHT
ellevest logo

InvestorMint Rating

4.5 out of 5 stars

  • Ellevest Essential: $1/mo
  • Ellevest Plus: $5/mo
  • Ellevest Executive: $9/mo

via Ellevest secure site

Ellevest Features

Fees $1 – $9 per month
Minimum Investment $0
Tax-loss Harvesting Yes on all taxable accounts
Best For Women
Human Advice YES
Portfolio Rebalancing YES
401(k) Advice YES
Interface Web-based
Customer Support Phone + Email
Automatic Deposits Monthly, Bimonthly & Quarterly

Ellevest Essential Vs Plus Vs Executive

Ellevest offers both a purely automated investment management offering as well as a higher tier of service, Ellevest Executive, for higher net worth clients who prefer human oversight and accessibility.

Essential

Ellevest Essential is a technology-powered robo-advisor designed for the hands-off woman who wants to invest her money in a diversified portfolio of exchange-traded funds at less cost than a traditional financial advisor would charge.

For a low monthly cost of just $1, Ellevest Essential constructs client portfolios using a goals-based approach. For example, you specify financial goals, such as saving for a new home or buying a new car, and Ellevest will examine your timeline, savings, target amount, and capacity for risk to build a customized investment portfolio.

Personalized investment portfolios take into consideration other factors too, including your salary, expected salary growth, and assets in order to make portfolio recommendations.

ellevest review

As you get closer to the target date for your financial goals, portfolio recommendations become increasingly more conservative. This dynamic allocation adjustment over time that factors in a client’s changing capacity for risk raises the bar for all robo-advisors.

During our discussions with the senior team, this dynamic allocation feature was described as roboadvisor 2.0, and we wholeheartedly agree that it is in the best interests of clients to modify risk exposure as time goes by to reflect changing financial circumstances.

Where Ellevest shines also is in providing insight into how likely you are to meet your financial goals. Ellevest displays a 70% likelihood of meeting your financial goals, which compares favorably to the 50% benchmark figure used in the industry, so you enjoy a higher degree of confidence that you will achieve your goals.

Where Ellevest Essential Shines

The perks don’t stop at money management. Essential members have unlimited access to learning workshops, video resources, and email courses from a team of financial planners.

You can also save more easily by electing to participate in a “rounding up” program whereby extra change is deposited into an FDIC insured account.

Members also receive unlimited ATM fee reimbursements.

Perhaps one of the biggest perks is the 20% discount off of one-to-one coaching sessions.

Plus

For members with retirement accounts, Ellevest offers a higher tier of service for a fee of $5 per month.

When you see what you get for this fee, you will realize it is highly competitive when compared to the costs and services provided by other leading robo-advisors.

As you might expect, Ellevest will build a diversified portfolio for you using a combination of the following securities and investment options:

  • Common stocks
  • Preferred stocks
  • Bonds
  • Municipal securities
  • Government securities
  • Mutual funds
  • ETFs
  • Unit investment trusts
  • Hedge funds
  • Alternative products

And like other robo-advisors, Ellevest does not attempt to time the market or make bets on specific assets, sector classes, or individual securities.

But where Ellevest Plus earns brownie points is:

  1. You receive a 30% discount for 1:1 access to Chartered Financial Professionals for personalized guidance on finances and money growth strategies; and
  2. You receive a 30% discount for 1:1 access to Executive Coaches for guidance on salary negotiations and career events.
  3. A personalized investment plan that encompasses all your retirement accounts.

These services distinguish Ellevest from most other robo-advisors because Ellevest emphasizes that men and women have earning trajectories that follow different arcs.

As a company that relies on data about where women’s salaries peak in general, Ellevest can better serve women by customizing financial guidance to their specific needs.

ellevest gender salary differences

While some robo-advisors have a cookie-cutter investment management services that serves men and women equally without factoring differing earnings arcs, which can lead to sub-optimal portfolio allocations and money strategies for women, Ellevest optimizes for an individual’s financial circumstances.

Both women and men can benefit from this deeper insight and more thoughtful approach to serving clients.

Executive

The Executive plan is all about setting goals. Research shows that setting financial goals correlates with a higher rate of achieving them versus those who do not set goals.

The Executive level of membership features all the benefits of the Essential and Plus plans but also includes a focus on goal-based investing for up to six customized accounts.

Ellevest Fees

Ellevest fees are tiered based on the level of service required.

The monthly fee for Ellevest Essential is $1 per month while $5 is charged for Plus and $9 for Executive.

  • Essential: $1 per month
  • Plus: $5 per month
  • Executive: $9 per month

Like most robo-advisors, these management fees are exclusive of fund fees that range from 0.06% to 0.16% annually.

Our research shows that these fund fees are highly competitive, an another reason why Ellevest deserves your serious consideration, whether you are a woman or a man.

Ellevest Investment Method

Ellevest uses low-fee ETFs to build diversified portfolios that are aligned with clients’ financial goals, time horizons and capacity for risk.

Ellevest astutely realizes that risk tolerance may not be the optimal gauge to assess an investor’s risk profile because when markets are rising investors often overestimate their risk tolerances and when markets are falling they underestimate their risk tolerance levels.

Instead, Ellevest focuses on capacity for risk as a better tool to incorporate the timeline of reaching a financial goal.

Upon learning what your risk profile is and having a better holistic understanding of your financial goals and time horizons, Ellevest uses low-fee exchange-traded funds, including many from Vanguard, to build customized, diversified portfolios.

Essential

Model portfolios are used by Ellevest to manage clients’ assets. Ellevest allocates client monies to ETFs and cash equivalents on a discretionary basis using proprietary algorithms.

For each goal you set, Ellevest invests in a portfolio of ETFs using a method influenced by your time horizon, which you can change at any time.

Your accounts are monitored automatically, managed digitally, and rebalanced periodically according to the model strategy.

Rebalancing does carry a tax risk – for example, if winners are sold near year-end, the capital gains taxes may be significant.

Unlike Betterment and Wealthfront, Ellevest does not apply a broad tax-loss harvesting “brush” to all client portfolios.

The team doesn’t believe this is necessarily the best way to optimize for after-tax returns. For more information on the tax strategies employed by its rivals, you can view this tax article.

However, Ellevest doesn’t ignore tax considerations. Quite the contrary, it employs what it calls a Tax Minimization Methodology, which we describe below.

Private Wealth

A primary difference between the basic accounts and Private Wealth accounts at is human oversight. Ellevest personnel monitor client accounts and make portfolio adjustments as necessary but the minimum investment to elect the private wealth management option is $1,000,000 in investable assets.

Think of Ellevest Private Wealth as a more tailored solution to your individual needs, risk profile and financial objectives.

Ellevest builds a globally diversified portfolio that may include:

  • Individual debt instruments
  • Mutual funds
  • ETFs
  • Individual equities
  • Closed-end funds
  • Partnerships
  • Private and illiquid investments

Ellevest will look to apply tax minimization methods, including deferring capital gains and realizing losses when tax benefits outweigh transaction costs.

While investment methods are similar, perhaps the greatest benefit of Ellevest Private Wealth extends beyond your portfolio to factor in your money growth strategies for life.

We were impressed that Ellevest doesn’t just “talk the talk” when it comes to building a financial solution for clients. Because of its insights into how income and spending patterns differ for men and women, Ellevest can help clients to better navigate career hurdles by providing Executive Coaches at no extra charge.

And because clients get 1:1 access to Chartered Financial Professionals, Ellevest has a more holistic overview of your overall financial situation, which means a more personalized and tailored experience.

Ellevest Tools

Ellevest’s stand out tool is its trade-off algorithm which spotlights the cost-benefit analysis when you allocate more to one investment than another.

Ellevest has a nice trade-off tool which gives you insights into the effects of prioritizing one goal over another.

For example, if you are saving up for a new car but set a new goal to go on a fancy vacation abroad, Ellevest will inform you what the impact is to your car-buying goal.

You can view your goals on Mint also if you wish. Simply eSign on the Ellevest dashboard and away you go!

Ellevest Pros and Cons

Ellevest charges competitive fees for both its Essential, Plus and Executive services, provides Chartered Financial Professionals and Executive Coaches, and even has a private wealth management service for higher net worth individuals. 

Ellevest Pros Ellevest Cons
Management Fees: Low fees that range from $1 to $9 monthly depending on membership level. Tax Loss Harvesting: Ellevest views the merits of tax-loss harvsting differently to Betterment and Wealthfront.  While Ellevest does support tax-advantaged investing, it does not provide the granular approach to tax-loss harvesting, called Direct Indexing, offered by Wealthfront.
Emergency Fund Management Fee: No management fees are charged on monies held in emergency funds. This is highly unusual in the money management industry, which generally charges management fees even on cash held. Fewer Account Options: As a comparatively new robo-advisor on the scene, Ellevest caters to fewer account types than some other leading robo-advisors.
Chartered Financial Professionals: Ellevest clients receive discounted 1:1 access to CFPs for personalized guidance on finances and money growth strategies.
Executive Coaches: Ellevest clients also receive discounts to 1:1 access to executive coaches in order to help navigate salary negotiations and career events.
Private Wealth Management: For qualified clients investing $1,000,000 or more, Ellevest provides a private wealth management service that includes value-based investing options.
Financial Goal Setting: Ellevest provides greater specificity and clarity on financial goal-setting than you might find elsewhere.

Instead of investing more generally for the long-term, you get to “bucket” your financial goals so you can specify for example that you are saving for a new home, buying a new car, saving up for a vacation, building an emergency funds cash cushion, preparing for college tuitions, or putting money aside for a wedding.

Trade-off Tool: If you’re on track to meet your financial goals, but must pay for something new, what is the effect on when you will reach your financial goals? Those are the insights you may glean from Ellevest’s trade-off tool.
Gender Focus: Data shows that women’s salaries peak earlier than they do for men. This important income difference has significant effects on investing allocations, which Ellevest recognizes and supports.

Ellevest Minimums

Unlike most traditional advisor who charge management fees on both invested assets and cash, Ellevest stands out by charging no management fees on money held in emergency funds. Overall fees compare well to other robo-advisors.

Category Fees
Account Minimums $0 for Essential, Plus and Executive

$1M for Private Wealth Management

Investment Expense Ratio 0.06% → 0.16%
Annual, Transfer, Closing Fees $100 IRA Transfer Out Fee
Personal Finance Tools Trade-off Goal Setting

Ellevest Accounts

As the new kid on the block, compared to the the likes of Betterment, Wealthfront and Personal Capital, who started almost a decade earlier, Ellevest is playing catch up with the selection of accounts it has on offer.

Type Capability
Taxable Brokerage Account YES
Traditional IRA YES
Roth IRA YES
401(k) YES
403(b) YES

Ellevest Tax Strategy

Some basic tax minimization strategies are included as part of Ellevest’s offering, from deferring capital gains taxes and comparing transaction costs to realizing losses for tax purposes, but Ellevest differs from Betterment and Wealthfront when it comes to providing a “one-size fits all” tax-loss harvesting solution.

The Tax Minimization Methodology employed by Ellevest places tax-inefficient assets in tax-efficient accounts and tax-efficient assets in tax-inefficient accounts.

For example, tax-efficient municipal bonds are placed in taxable accounts while corporate and government bonds are placed in retirement accounts.

Plus, when your accounts need to be rebalanced, Ellevest maximizes your tax losses and minimizes your taxable gains wherever possible.

For specific tax advice, Ellevest encourages clients to consult with tax specialists.

Type Capability
Tax Deferring Gains YES
Tax Loss Benefits Vs Transaction Costs Comparison YES
Tax Minimization Methodology YES
Automated Tax Loss Harvesting NO

Ellevest Review Summary

Top robo-advisors need to look over their shoulder because the new “kid” in town has a lot to offer. Ellevest may be younger than its leading rivals, Betterment and Wealthfront, but what it lacks in age it makes up for in a world class product offering.

Ellevest charges low monthly fees for its membership levels: Essential, Plus, and Executive. Where Ellevest has the edge is its lower account minimum and it goes the extra mile by providing Chartered Financial Professionals and Executive Coaches who help with salary negotiations and career guidance.

Another standout feature at Ellevest is its gender focus. By recognizing that men and women experience salary peaks at different points in their respective careers, Ellevest constructs portfolios that are tailored to client needs. Plus, portfolio allocations dynamically adapt as clients get older to account for modified capacities for risk.

Ellevest considers tax impact in its service offerings and automatically rebalances portfolios as you might expect of any leading robo-advisor.

The bottom line is whether you are a woman or a man, you will need to go a long way before finding a robo-advisor that beats Ellevest.

The article Ellevest Review 2020 was originally posted on Investormint

]]>
0
tastyworks vs Robinhood Review https://investormint.com/investing/tastyworks-vs-robinhood https://investormint.com/investing/tastyworks-vs-robinhood#disqus_thread Sun, 04 Oct 2020 16:32:11 +0000 https://investormint.com/?p=8435 Robinhood charges no commissions when placing stock, options, or cryptocurrency orders. tastyworks charges no commissions to close stock and options trades, and supports many more options trading strategies than does Robinhood.

The article tastyworks vs Robinhood Review was originally posted on Investormint

]]>
The Robinhood free stock trading platform is famous. When it first launched, few believed it would be so disruptive. Since then, most other leading brokers have slashed their own commissions to zero on stock trades.

Among them was tastyworks, which has rapidly earned a reputation as a top options broker by charging no commissions on closing stock and options trades.

Compared to the best brokers in the industry, Robinhood and tastyworks stand out because of the social components built into their platforms.

Unlike their old-school competitors, the new crop of brokers recognize that traders enjoy connecting with each other, sharing ideas, and learning from successful investors.

And while both brokers are similar in some areas, they target very different types of traders, so between Robinhood vs tastyworks, which is right for you?

Robinhood vs tastyworks

robinhood logo
tastyworks logo

Is Robinhood Free Stock Trading Legit?

Robinhood shot to fame by lowering the cost of trading stocks to zero. Skeptics didn’t think the low cost would attract younger traders – its target audience. But they were wrong. In the panic of 2020, Robinhood became the “go-to” platform for retail traders.

But you might be wondering, how can Robinhood stay in business when charging no commissions?

How Does Robinhood Make Money?

What users may not know is that Robinhood sells customer order data to market makers.

Market makers pay brokers to process transactions. On each transaction you make on the Robinhood app, the broker is paid. So, while you the customer does not pay a commission, make no mistake that Robinhood is pleased when you trade more frequently.

As a free stock market trading broker, Robinhood lives up to its promise but it also features a premium service, called Robinhood Gold. If you want access to margin, you must pay.

This is a controversial feature because it essentially encourages leverage, and therefore more risky trading behavior.

And lastly, cash sitting in your brokerage account earns money for Robinhood because it is loaned out, albeit at pretty low interest rates of interest these days.

tastyworks vs robinhood

tastyworks Inc Review Snapshot

While fee-conscious stock traders will find Robinhood hard to beat, savvy options traders will find tastyworks to be virtually unparalleled.

tastyworks was founded by traders for traders. Whether you trade stocks, options, or futures, tastyworks can deliver a platform with lightning fast executions and rock bottom commissions costs.

Beyond low pricing, tastyworks shines with numerous social trading features. If you ever wished you could follow other traders, wish no more!

tastyworks browser follow

Simply click a featured trader’s profile to view a stream of their previously executed trades.

Another nice feature is the stock Grid, which provides a view of which stocks are trading higher and lower on the day.

When you select a particular stock, an options chain pops up so you can easily place trades quickly.

The tastyworks platform is designed for active stock, options, and futures traders while Robinhood is ideal for fee-conscious traders who want to pay no commissions on stock and cryptocurrency trades.

Robinhood vs tastyworks: Commissions

Commissions and fees on the tastyworks platform are very reasonable compared to most other brokers.

tastyworks is the better bet if you wish to place options trades or futures trades regularly.

Options Opening Trade Stock Opening Trade Futures Opening Trade All Closing Trades
$1.00
(per contract)
$0.00
(unlimited shares)
$2.50
(per contract)
$0.00
(clearing fees apply)

While Robinhood has no commissions on stock trades, it is by no means markets itself as a specialist options trading platform.

In fact, Robinhood for a long time didn’t even support market orders for options trades due to their lower liquidity levels whereas this is no issue at tastyworks.

If options and futures trading is not your thing, but trading stocks and cryptocurrencies is, then Robinhood is a better match.

Options Trades Stock Trades Cryptocurrencies Robinhood Gold
$0
(clearing fees may apply)
$0
(clearing fees may apply)
$0
(clearing fees may apply)
$10+
(per month depending on tier)

Margin trading is available at both tastyworks at Robinhood.

tastyworks follows the more conventional approach of charging interest on margin funds, which essentially is money loaned to you.

Robinhood also loans money on margin but charges a fixed monthly fee depending on how much margin you need. You will need to upgrade to Robinhood Gold to be approved for margin.

tastyworks vs Robinhood
Options Strategies

Robinhood supports very few options trading strategies. Only the purchase of long calls and long puts, covered calls, and cash-covered puts is available.

By comparison, it’s hard to imagine an options strategy not available at tastyworks.

Whether basic options strategies like married puts, bear call spreads, and bull put spreads, or more complex ones like iron butterflies and ratio backspreads, tastyworks caters to them all.

TastyWorks Options Strategies Robinhood Options Strategies
  • Bear Put
  • Bull Put
  • Bear Call
  • Straddle
  • Strangle
  • Ratio Put Backspread
  • Ratio Call Backspread
  • Ratio Put Spread
  • Ratio Call Spread
  • Iron Butterfly
  • Iron Condor
  • Combination Strategies
  • (and many more)
  • Long calls and Long Puts
  • Covered Calls
  • Cash Secured Puts

tastyworks vs Robinhood Tools

Robinhood makes it easy to buy and sell but where it shines in simplicity it falls short in research capability.

While you can view your portfolio holdings and the prices at which stocks are trading easily, Robinhood doesn’t provide screeners or tools of any significance really to help you scout for new ideas.

By contrast, tastyworks is built with the idea of helping you to find new trading opportunities using the Portfolio, Analyze, and Trade tabs.

tastyworks browser monitor display

On the web-based dashboard, you can Follow stock market trade ideas from experts.

Even experienced traders should find this discovery tool helpful in uncovering new trading ideas.

tastyworks trader view

Not sure about a trading strategy? Test out your own ideas using the Analyze tab on the dashboard.

Rather than risk your own money, check the gain vs loss risk profile of the trade during the expiration cycle.

The visual display will highlight all the relevant calculations, fees, and timelines so you are left in no doubt how your position will change in value at different price and time points.

tastyworks browser order display

The Correlation Matrix is another diamond under the hood of the tastyworks dashboard.

Want to know how much Facebook stock fell when Alphabet share price fell? The Correlation Matrix shows you instantly.

tastyworks browser insights display

Pro Tip: For experienced traders who want even more tools, compare tastyworks vs thinkorswim.

thinkorswim has feature-rich charts that display over 300 technical studies, Fast Beta (an embedded programming language), Strategy Roller to automate covered call roll forwards, and lots of screening and scanning tools.

tastyworks vs Robinhood

Overall Winner

During our research for this article, we discovered a Robinhood vs tastyworks Reddit comment which boldly stated “Give me tastyworks, or give me death!” – a reference to Patrick Henry’s 1775 speech “Give me liberty or give me death!

With so much to offer, it is obvious why tastyworks has built such a loyal following. But Robinhood has its merits, especially for cryptocurrency traders and stock traders who care more about price than research capability.

tastyworks Wins Robinhood Wins
Active Options & Futures Traders: tastyworks caters to all options and futures strategies, whereas Robinhood supports just a few basic ones. If you are an active and serious options or futures trader, tastyworks is your best bet. Commissions and Fees: You can’t beat zero commissions for stock, options, and cryptocurrency trades. This is where Robinhood scores most points.
Order Types: Robinhood does not support market orders for options trades so if you want fast execution, you will need to stick with tastyworks. Cryptocurrency Trading: tastyworks does not support crypto trading, so if buying Bitcoin and Ether is of interest to you, Robinhood wins.
Tools and Research: tastyworks has an abundance of tools to help you find new trading ideas, follow expert traders, analyze new trades, and even correlate the movement of stock prices with the prices of other securities. Robinhood by comparison has very few tools. Intuitive Platform: Robinhood is designed for traders who want to buy stocks easily. As a result, the platform is easy to use and quite intuitive. The tastyworks platform will take more time to learn due to all the features under the hood.
Live Financial News Network: The tastytrade financial news network is available free all day to tastyworks users. Financial experts feature throughout the trading day and discuss strategies, market movements, and hot topics to help you improve your trading skills and stay informed.

Which Trading Platform Is Best: Robinhood or tastyworks?

Robinhood and tastyworks are not so much two peas in a pod as they are apples and oranges.

Traders who value price the most will be better suited at Robinhood, which provides free stock, options, and cryptocurrency trading.

For active options and futures traders, tastyworks is the better choice because it caters to just about every trading strategy imaginable whereas Robinhood supports just a handful of basic strategies.

For users who want a simple, intuitive trading experience where they can enter their information at the Robinhood login area, place a trade on the go and move on, Robinhood is better with a more intuitive user experience.

However, tastyworks has screeners, tools, and a social layer under the hood which makes it much more powerful when it comes to research capability and finding new trading ideas.

Ultimately the choice boils down to your financial goals. Want a quick, cheap trading experience without the frills, Robinhood is for you. But if you need a powerful trading platform designed by traders for traders then tastyworks will cater to your needs best.

 

The article tastyworks vs Robinhood Review was originally posted on Investormint

]]>
0
How To Invest $20k https://investormint.com/investing/how-to-invest-20k https://investormint.com/investing/how-to-invest-20k#disqus_thread Sun, 04 Oct 2020 16:22:27 +0000 https://investormint.com/?p=8873 Here are ways to invest $20k. 1. Buy dividend-paying stocks. 2. Invest in mutual funds via a robo-advisor. 3. Gain exposure to property with crowdfunding sites. 4. Loan money on peer-to-peer platforms.

The article How To Invest $20k was originally posted on Investormint

]]>
Whether you squirreled away money, won the lottery, or received a bonus at work, you might now be wondering how to invest $20k to generate the best return on your money.

The good news is you are spoilt for choice because of the many ways to invest $20,000. From stocks and bonds to real estate crowdfunding sites and peer-to-peer lending platforms, the options for investors are almost endless these days.

Here, we break down the best ways to invest wisely.

How To Invest $20k In Stocks

Tempting as it might be to bet your $20,000 on penny stocks, a smarter choice is to follow in the footsteps of Warren Buffett, who amassed billions by investing wisely.

His secret sauce boiled down to buying companies with sustainable competitive advantages. These are companies that have dominant market shares, pricing power, and predictable cash flow streams.

Generally they also pay a regular dividend, such as Coca Cola. Even a great company like Alphabet may not make the cut in his Berkshire Hathaway portfolio because it doesn’t pay dividends.

Instead he prefers solid companies that have stood the test of time and pay out generous dividends. Kraft Heinz, and Coca Cola are among his favorite long-term holdings. More recently, he took the plunge into the technology sector by buying Apple, and it’s been a runaway success so far.

Although the investing strategy may seem boring, Professor Jeremy Siegel’s research in his book Stocks For the Long Run revealed that the total stock market returns through most of last century were overwhelmingly due to reinvested dividends.

As alluring as high flying stocks, like Netflix, can be at times, the reality is they can crash just as quickly, leaving traders with nothing but heartache and losses.

To get started buying dividend-paying stocks, open a trading account at a top online broker like tastyworks or thinkorswim, where commissions are low, support staff are excellent, executions are fast, and the trading platforms are robust.

TASTYWORKS SPOTLIGHT
tastyworks logo

InvestorMint Rating

4.5 out of 5 stars

  • Commissions: All closing trades are commission-free
  • Account Balance Minimum: $0
  • Commissions: $0 flat rate for stocks

via tastyworks secure site

How To Invest $20,000 In Mutual Funds

If the idea of stock picking and managing your own portfolio scares you, a diversified portfolio may be a better fit.

Specifically, a robo-advisor could be a perfect match for you and offers the potential to spread your eggs across a wide variety of industries and sectors.

Robo-advisors are a new breed of financial advisor. They leverage technology and computer algorithms to automatically invest your money based on your age, risk preferences, financial goals, and other factors.

Betterment leads the pack of robo-advisors. All the bells and whistles you might hope for are packed into the Betterment website. Investors who want a purely automated solution can choose Betterment Digital, which costs 0.25% in annual fees.

how to invest 20k

That means if you invest $20,000 you will pay just $50 per year for a top roboadvisor who will invest your money in mutual funds or index funds. Or if you want access to a team of Chartered Financial Professionals via Betterment Premium, the fee is 0.40%, which would amount to $80 for the year.

Betterment pays special attention to the tax impact of investing in order to make sure you get the most bang for your buck. Through various strategies like tax-loss harvesting and tax-coordinated portfolios, Betterment claims annual returns can increase by as much as 2.66%.

BETTERMENT SPOTLIGHT
betterment

InvestorMint Rating

5 out of 5 stars

  • Promo: Up to 1 Year Free Management
  • Management Fee: 0.25% – 0.40%
  • Account Minimum (Betterment Digital): $0
  • Account Minimum (Betterment Premium): $100,000

via Betterment secure site

Another roboadvisor worth checking out is Ellevest, which is unique in the way it segments men vs women.

Women tend to reach their peak earning age younger than men. And because women tend to live longer than men, they need to be savvy about how to invest money over a longer time span as their income declines.

Ellevest understands these very real differences between men and women, and invests clients’ monies accordingly.

How To Invest $20k In Real Estate

Real estate has been a solid investment over any long term period during the last century. But how do you invest $20k in real estate without buying property yourself?

Fortunately, real estate crowdfunding sites have sprung up to help investors pool money to buy properties that would otherwise be unaffordable to any single investor.

No longer do you need to do the hard work of applying for a bank loan, finding a tenant, and maintaining a property. Instead, companies like Fundrise and Rich Uncles do the heavy lifting.

With as little as $500 → $1,000 you get exposure to real estate from the comfort of your living room.

Rich Uncles specializes in commercial real estate and student housing. Brand name tenants like Chevron and Dollar General rent out Rich Uncles commercial properties while occupancy rates in student housing are predictably high from one year to the next.

Fundrise features private real estate investment trusts that operate much like publicly traded REITs, albeit with a dashboard that allows you to track your investments 24/7.

It also offers an eFund, which buys and develops land that is sold to residential homeowners.

FUNDRISE SPOTLIGHT

fundrise logo

InvestorMint Rating

4.5 out of 5 stars

  • Minimum Investment: $500
  • Returns: 11.44% (net of fees)

via Fundrise secure site

If you prefer to invest $20k in property that you own yourself, Roofstock is your best bet. Its model is so successful that it raised $50 million to expand.

Roofstock rates neighborhoods, finds homes to buy that are already rented, connects you to local property managers, and even lets you buy properties online with a few mouse clicks!

Gone are the days when you needed to trek around neighborhoods for property deals!

Invest $20,000 In P2P Lending
For Higher Returns

Peer-to-peer lending is a way to invest $20,000 without relying on the stock market or real estate to generate returns.

The way it works on leading peer-to-peer lending platform, Prosper, is that you loan money to a borrower for a fixed period of time at a specific interest rate.

Prosper vets borrowers and assigns them to risk categories so you know ahead of time how risky similar borrowers are when it comes to paying back their principal and interest.

You can choose to loan money to a dentist who may be consolidating credit card debt to a lower rate or to a doctor who may be refurbishing a home for example.

If you were to loan out $20,000 to a few dozen borrowers you could spread your risk and maybe earn a handsome yield that would beat bank savings rates.

PROSPER SPOTLIGHT

prosper logo

InvestorMint Rating

4 out of 5 stars

 

  • Min Credit Score: 640
  • APR Rate: 6.95% – 35.99%
  • Origination Fee: 2.4% – 5%

via Prosper secure site

What other ways to invest $20k do you know that we should include in this article? We would love to hear from you.

>> What Is The Best Way To Invest $10,000?

>> How Much Should You Save For Retirement?

>> Saving Vs Investing Money: How Do You Decide?

 

The article How To Invest $20k was originally posted on Investormint

]]>
0
Can You Buy Stocks On Betterment? https://investormint.com/investing/robo-advisors/can-you-buy-stocks-on-betterment https://investormint.com/investing/robo-advisors/can-you-buy-stocks-on-betterment#disqus_thread Sun, 04 Oct 2020 16:15:35 +0000 https://investormint.com/?p=13942 Betterment is a roboadvisor, not a self-directed broker, so you cannot buy stocks on Betterment.

The article Can You Buy Stocks On Betterment? was originally posted on Investormint

]]>
BETTERMENT SPOTLIGHT
betterment

InvestorMint Rating

5 out of 5 stars

  • Promo: Up to 1 Year Free Management
  • Management Fee: 0.25% – 0.40%
  • Account Minimum (Betterment Digital): $0
  • Account Minimum (Betterment Premium): $100,000

via Betterment secure site

Not long ago, there was a sharp divide between those who could invest in the stock market with the help of a financial advisor and those who were left to fend for themselves.

Professional financial advice of any sort was simply not affordable for people with average income and assets.

All of that changed when Betterment launched the first true automated investment advisor.

Also known as a robo-advisor, Betterment created algorithms capable of offering customized investment advice at minimal cost.

This transformed the industry, making it possible for almost anyone to enter the market regardless of their portfolio size – but some potential investors are still doubtful.

Can an algorithm really provide smart guidance on money management?

Betterment Puts Investing
On Auto-Pilot

Managing money is not for the faint of heart. Whether you have a little or a lot, it is easy to get overwhelmed with all of the decisions that need to be made.

Should you open a money market account or a brokerage account? Should you buy stocks or Exchange Traded Funds (ETFs)? And which ones?

Are you setting enough of your income aside? How much risk is too much? Most importantly, are you going to be able to meet your financial goals?

Answering these questions based on your unique financial situation is Betterment’s specialty – and believe it or not, it’s all done through an automated service.

grow your investment

You start by completing your profile and setting financial goals, then the system suggests how much you should save and ensures your money is invested in a manner that is most likely to get you where you want to go.

Betterment accounts are best for those who are more of a set-it-and-forget-it sort. The process is fully automated, so you don’t have to make any day-to-day decisions. 

The service is most popular among beginner investors, those who prefer a hands-off approach, and those who are starting with relatively low balances.

It is also a favorite among investors who are focused on their retirement savings, as well as those who want to achieve other specific financial goals, because a long list of tools and educational resources are included with every account.

>> Betterment vs Robinhood

How Does Betterment Work?

Betterment account holders choose one of two options, depending on the size of their balance and how important they consider the ability to access live Certified Financial Planners.

The basic Betterment Digital service has no minimum balance requirement. Management fees come to 0.25% of the total account balance, so those with less in the way of assets pay less in real dollars than peers with a bit more in their Betterment accounts.

Investors with $100,000 or more under management with Betterment can access the Betterment Premium service. 

This is a bit more costly at 0.40% of total assets under management, but it comes with extra benefits like unlimited phone access to Certified Financial Planners.

>> Betterment Safety Net Fund Review

Can You Buy Stocks On Betterment?

Some investors are surprised to hear that they cannot buy stocks on Betterment. After all, brokers like Schwab make it possible for average people to buy shares of top-notch companies.

Betterment takes a different approach – one that tends to offer better returns over time when compared to self-directed investment accounts.

A team of experts looks at a wide selection of domestic and international Exchange Traded Funds (ETFs).

The top contenders are rated based on a number of criteria, including the associated expense, then your money is invested in the best of the bunch.

The advantage? Automatic diversification.

With ETFs, your assets are spread among multiple industries – and several companies within those industries – to ensure you don’t make the mistake of keeping all of your eggs in one basket. 

With that said, how your money is invested and which ETFs you hold in your portfolio will be different from the selections made for other Betterment clients.

Your portfolio is customized to meet your personal financial goals in a timely manner, and you can make certain choices based on what is most important to you.

For example, Betterment has a socially responsible investment strategy available, as well as one that is focused on generating income. If you are trying to reach several goals with differing end dates, you can create a multi-strategy portfolio that meets those needs.

Your benefits don’t end with investment selection. Betterment also handles on-going maintenance that is critical to maximizing your returns. Examples include tax loss harvesting to minimize your tax bill, as well as tasks like automatic rebalancing, reinvesting dividends, and so forth.

That alone is well-worth the 0.25% fee, considering the amount of time it takes to complete these transactions properly.

>> Acorns Vs Betterment Comparison

Can You Make Money With Betterment?

Betterment’s mission statement says it all in terms of whether you can make money through the service.

In short, the company’s mission is “to empower people to do what’s best for their money so they can live better.

Certainly, that mission statement is no guarantee of specific returns, but the goal is clear.

If you leave your money in the hands of your Betterment robo-advisor, you can count on making the most of whatever opportunities the market offers.

>> Compare Betterment Vs DIY

Can Betterment Make You Rich?

Some investors want to know that they can count on specific returns – the sort of returns that will take them from getting by to getting rich.

They want Betterment to get them in on the ground floor of the next Apple, Microsoft, or Amazon, so that ten years from now, they can live the high life.

Alas, Betterment doesn’t work quite that way. In fact, no advisor, automated or otherwise, can promise riches.

The stock market is unpredictable and Betterment aims to intelligently build diversified portfolios.

Certainly, there are some who have made fortunes through their stock picks. Warren Buffett is one of the most famous, but even he doesn’t have a magic formula – proof of that is his underperformance compared to the S&P 500 in the second decade of the millennium.

Instead, he chooses solid companies with dominant market shares and top-notch brands that can afford to pay out impressive dividends. Then he buys and holds his shares for decades to achieve his impressive results.

So, can Betterment make you rich? Perhaps, but that depends on you as much as your Betterment account.

If you want to generate long-term gains, take a disciplined approach to adding funds to your portfolio, and resist the temptation to cash out, regardless of circumstances.

Historically, the stock market has always grown given enough time, and Betterment will ensure that you are in the best possible position to benefit from any gains.

>> Betterment Vs S&P 500 Comparison

Can You Lose Money on Betterment?

No one wants to lose their hard-earned money, but unfortunately that’s a risk whenever you invest.

Whether you choose Betterment or another robo-advisor firm, or a personal investment advisor, there is always a chance that unforeseen events will erase profits – and possibly eat into your principal balance.

Some would-be investors aren’t comfortable with any risk at all. They choose to skip the markets in favor of the guaranteed returns available from traditional banking products like money market accounts and Certificates of Deposit (CD).

The problem with such a strategy is that you aren’t truly eliminating risk. You are simply exchanging investment risk for other types of risk.

One of the biggest issues that comes with guaranteed interest is that those interest rates are shockingly low. They are so low, in fact, that while you won’t technically lose principal, you won’t earn enough to offset inflation.

By the time you withdraw from your account, your original deposit will be intact. However, it will be worth less in real buying power than it was when you first opened your account.

The only way to mitigate this type of risk is to generate returns that are higher than the rate of inflation. Generally speaking, that’s only possible through a well-managed investment portfolio.

Yes, you might see some dips in your balance, but that’s part of the process. If you remain patient, you are more likely than not to recover your losses and then some when your portfolio is properly managed.

>> Betterment vs Schwab Intelligent Portfolios

Will Betterment Survive?

When the market is volatile, many start to question whether robo-advisors like Betterment can survive. After all, these companies depend on average investors to make their profits, and average investors are less able to set money aside during economic downturns.

There are some naysayers who are convinced that robo-advisors can’t survive certain market conditions, but that’s a minority opinion.

Most experts believe that self-directed investors who lose big during a market crisis are more likely to switch to services like Betterment. The low cost expert management is awfully appealing when things have gone terribly wrong.

The bottom line is that Betterment is a solid choice for investors who want to enjoy the benefits of entering the stock market without all of the effort. A Betterment account offers high-quality management for a low cost, with little or no time commitment.

>> Prosper vs Betterment Comparison

The article Can You Buy Stocks On Betterment? was originally posted on Investormint

]]>
0
SoFi Automated Investing Review https://investormint.com/investing/robo-advisors/sofi-automated-investing-review https://investormint.com/investing/robo-advisors/sofi-automated-investing-review#disqus_thread Tue, 29 Sep 2020 09:56:50 +0000 https://investormint.com/?p=13934 SoFi Automated Investing review rates the company highly thanks to 0% management fees and no minimum balance requirements.

The article SoFi Automated Investing Review was originally posted on Investormint

]]>
SOFI SPOTLIGHT
sofi logo 2019

InvestorMint Rating

5 out of 5 stars

  • Management Fees: 0.0% of assets invested
  • Account Balance Minimum: $100

Do you already have a student loan with SoFi? If so, you’re probably over the moon with the company’s customer service. Its reputation is stellar – a rarity among financial institutions. And SoFi’s Facebook group is chirping with satisfied customers. So you might be thinking what all the fuss is about with SoFi Automated Investing?

Or maybe this is your first time stumbling across SoFi and you’re keen to get started investing but without paying a fortune to a financial advisor? You’re in the right place.

SoFi Automated Investing allows you to put your stock market portfolio on auto-pilot. Yet it’s much more than that. Unlike most traditional financial advisors and other robo-advisors, SoFi won’t ding you with management charges.

Intrigued already? That’s just the beginning. In this SoFi Automated Investing review, we’ll show you so many perks of the product that you may decide this is the only investment option for your hard-earning savings.

Robo-Advisors 101: A Quick Primer

Once upon a time, you had to be quite wealthy to trade stocks. A typical order was 100 shares, and you were expected to have cash to cover the entire purchase. On top of that, you were responsible for an array of commissions and fees each time you made a trade.

All of that changed with the digital revolution and the subsequent introduction of robo-advisors – a class of automated investing platforms that make it possible for virtually anyone to gain exposure to the stock market in a hands-off manner.

But how is it possible for robo-advisors to make recommendations without a human touch?

The answer comes down to carefully constructed algorithms. These systems rely on algorithms combined with personal details supplied by clients to develop portfolio suggestions.

Robo-advisors might be best-known for their low and no-fee account options. Users pay a fraction of the cost of a financial advisor, and most have low or no minimum balance requirements. 

Investors that find themselves in need of personal investment advice can subscribe to costlier premium account services.

SoFi has taken the robo-advisor model and added premium services without premium fees. The biggest advantage SoFi investors enjoy is unlimited access to live financial advisors completely free of charge.

Of course, that’s not the only feature to consider when choosing a roboadvisor. This comprehensive SoFi automated investing review offers an in-depth look at the pros and cons of opening an account.

Pros and Cons of
SoFi Automated Investing

The primary features to look for when choosing a robo-advisor include low or no-fee account options, a minimum balance requirement that meets your needs, a simple, user-friendly interface, goal planning tools, educational resources, a selection of investment options, and exceptional customer service.

SoFi does well on all of the above.

Pros Cons
Minimum Balance Requirement: SoFi boasts that you can start investing with just $1. Limited Account Support: Individual and joint accounts as well as IRAs: Roth, SEP and Traditional
Fees: None. Managed accounts have a 0% charge. Tools: Compared to Betterment, SoFi lacks an extensive suite of tools but does offer portfolio and wealth projection tools.
User-Friendly Interface: SoFi can be accessed online, but most choose to manage their accounts through the mobile app. User reviews are positive in terms of platform intuitiveness, reliability, and overall quality of the technology. Investment Strategies: Up to ten strategies available which should be sufficient for most investors, though some leading competitors such as M1 Finance offer even more flexibility.
Goal Planning Tools: SoFi has a number of features dedicated to goal planning. You can offer information on particular goals that are high priority, such as a wedding, home purchase, or retirement. Tax Loss Harvesting: SoFi has no tax-loss harvesting option. This could put you at risk for higher tax liability on any returns you earn, so if your primary concern is reducing your tax bill, this might not be the best option for you.
Exceptional Customer Service: Customer service and technical support are open for extended hours seven days a week, and users have nothing but good things to say about their courtesy, professionalism, and expertise. That’s a plus when dealing with unfamiliar systems and software. New To The Game: SoFi is one of the newer robo-advisors. The larger company was founded in 2011, but this service was just launched in 2017. Compare that to others like Wealthfront (founded 2008), Betterment (founded 2008), and E-Trade (founded 1982). Clearly, SoFi has a limited history, which gives investors less information on SoFi’s ability to deliver on its value proposition.
Educational Resources: The SoFi education hub is called Investing 101, but it has a surprising range of resources that appeal to beginners and experts alike. Those new to the stock market or interested in learning more about assets like cryptocurrency can find in-depth discussion and advice from experienced consultants.
Human Advice: It is one of the only robo-advisors that offers free, unlimited access by phone to Certified Financial Planners.
Members-only Perks: Career planning services, discounts on additional products and services, no-cost estate planning, and referral bonuses.
Automatic Rebalancing: If you choose the automated account management option, you can set it up and ignore it almost indefinitely. The system handles funding, diversification, and rebalancing based on your settings.
Recommendations Engine: Develop a strategy based on time-specific categories like short-term (up to three years), medium-term (three to ten years), medium-long-term (ten to twenty years), and long-term (twenty-plus years). The automated system offers recommendations to support achievement of your goals.

Is SoFi Automated Investing
Right for You?

While anyone can benefit from reducing or eliminating fees, SoFi isn’t right for everyone.

The service is primarily intended for those just starting out with investing, those who prefer a hands-off or self-directed approach, those who want the support of Certified Financial Planners without paying premium prices, and those who don’t yet have a large amount to invest.

SoFi’s member benefits are designed with younger investors in mind. For example, career coaching, student loan interest discounts, and financial planning for education tends to interest people under the age of 30.

With that said, the service has plenty of members who have finished their education and are well-established in their careers, so if the other features are appealing, SoFi might be the right choice for you.

Is SoFi Safe?

SoFi Securities LLC is a FINRA registered broker dealer, and your account is a brokerage account. That means it is possible for your investments to lose value. However, your assets are insured if the company fails.

Bank accounts are insured by the FDIC, but your SoFi brokerage account is insured by the SIPC. You can recover up to $500,000 in securities or $250,000 in cash if something goes terribly wrong.

With that said, broker dealers are held to the same high standards as other financial institutions, and SoFi takes that responsibility seriously. You can count on state-of-the-art cybersecurity, as well as tools and resources intended to support you in reaching your financial goals.

How To Open A SoFi Automated Investing Account

To open your account, begin by downloading the app and completing a brief application.

The application is also available online at SoFi’s website. You will be asked to supply basic personal details such as your social security number and date of birth, and you may be asked to submit documents verifying your identity.

Once your account is open, you can fund it electronically from an existing account with another financial institution. 

It usually takes a day or two for your funds to be available for investing, but in the meantime, you may qualify for immediate access to as much as $5,000 while you wait for your deposit to clear.

While you wait, you can make plans for how you will use your account. The first question is whether you will choose your own trades or allow the automated service to handle your portfolio (the focus of this review).

If you choose the self-directed route, take advantage of the educational resources available on the site. These offer critical information on building a strategy that makes sense based on your financial goals and your investment preferences.

You won’t pay any fees for trading stocks and ETFs. If you want to buy shares that are priced out of your budget, SoFi permits fractional share purchases on certain stocks.

How SoFi Compares to Alternative Robo-Advisors

SoFi might not have all the features of its biggest competitors, but members tend to agree that SoFi comes through where it counts. Consider the pros and cons of investing with industry leaders like Betterment and Wealthfront.

BETTERMENT SPOTLIGHT
betterment

InvestorMint Rating

5 out of 5 stars

  • Promo: Up to 1 Year Free Management
  • Management Fee: 0.25% – 0.40%
  • Account Minimum (Betterment Digital): $0
  • Account Minimum (Betterment Premium): $100,000

via Betterment secure site

Betterment is widely considered the first true robo-advisor firm. It was founded in 2008 and started opening investor accounts in 2010. It is the largest independent automated advisor, and it offers a wide range of investment options, goal-based tools, and educational resources.

Like SoFi, Betterment allows investors to purchase fractional shares, and it has no minimum balance requirement. However, it does charge a 0.25% management fee, which can be waived for one year with a qualified initial deposit. For some, that’s a deal-breaker.

Wealthfront, on the other hand, is intended for an entirely different class of investors. Though it is also a robo-advisor, it doesn’t compete for the same clientele as SoFi. Wealthfront does not permit fractional shares and has a minimum balance requirement of $500.

Wealthfront charges a 0.25% management fee that is waived for the first $5,000 in assets. The biggest feature that Wealthfront offers – and SoFi does not – is daily tax-loss harvesting. For investors that see large gains from large investments, this feature can mean significant tax savings.

SoFi Automated Investing
Review Summary

The bottom line is that those who are beginning to explore the world of investing and those who don’t have a large amount to invest can realize important benefits from opening their accounts with SoFi.

In addition to the tools and educational resources the service offers, less experienced investors have the opportunity to consult with a Certified Financial Planner as needed.

More importantly, SoFi makes investing in the stock market accessible regardless of wealth through its zero fee, no minimum balance structure, the ability to purchase fractional shares, and low-expense investment options like ETFs.

The article SoFi Automated Investing Review was originally posted on Investormint

]]>
0
PowerShares QQQ vs VGT https://investormint.com/investing/powershares-qqq-vs-vgt https://investormint.com/investing/powershares-qqq-vs-vgt#disqus_thread Tue, 22 Sep 2020 14:06:47 +0000 https://investormint.com/?p=13928 QQQ vs VGT: QQQ is a bet on the NASDAQ 100, the top technology stocks while VGT tracks a smaller cohort of companies in the same sector.

The article PowerShares QQQ vs VGT was originally posted on Investormint

]]>
Exchange-traded funds (ETFs) are an easy way to diversify your investments in a market segment or group of stocks instead of depending on one company.

This investment tool allows you to benefit from high-priced stocks that may otherwise be out of your price range. It also helps you mitigate risk by participating in an advanced trading strategy that may otherwise be inaccessible, either through lack of finances or information.

Two popular ETFs are Vanguard Information Technology (NYSEARCA:VGT) and PowerShares QQQ although you may not know the differences in what they actually do. This is your guide to comparing QQQ vs VGT and determining which one you should invest in.

Let’s start by explaining what each fund comprises, starting with QQQ.

What Is PowerShares QQQ

There are several ways to invest in QQQ, which can be a bit confusing to the average investor.

This includes the QQQ stock symbol, ProShares TR/Ultrashort QQQ ETF (NYSEARCA:QID), ProShares TR/UltraPro Short QQQ (NASDAQ:SQQQ), ProShares TR/UltraPro QQQ (NASDAQ:TQQQ), and to a lesser extent Invesco Ltd. (NYSE:IVZ), the investment management company running the fund.

These are ways to bet on or against the Nasdaq 100 index, a group of 100 actively traded non-financial stocks. In some cases you gain exposure

QQQ comprises companies across sectors like technology, healthcare, retail, and more.

Each company is weighted to keep members with different market capitalizations balanced. To qualify, a company needs to be listed on the Nasdaq exchange for at least two years with an average daily trading volume over 200,000, along with releasing quarterly and annual reports.

Companies are disqualified for issues such as filing bankruptcy and must be listed exclusively on Nasdaq.

Notable companies in the Nasdaq 100 include

  • Apple Inc. (NASDAQ:AAPL)
  • Amazon.com, Inc. (NASDAQ:AMZN)
  • NVIDIA Corporation (NASDAQ:NVDA)
  • Facebook, Inc. Common Stock (NASDAQ:FB)
  • Tesla Inc (NASDAQ:TSLA)
  • PayPal, Holdings Inc (NASDAQ:PYPL)
  • Comcast Corporation (NASDAQ: CMCSA)

Technology companies account for a large portion of the QQQ index, at over 60 percent of the fund. The QQQ ETF has over $125 billion in assets under management, and it’s a cost-efficient exposure to a broad range of companies.

powershares qqq vs vgt

The QID fund goes a step further, doubling your exposure via a series of futures and swaps. If the QQQ falls, QID corresponds to 2x the inverse movement – so you can make money as the broader market declines.

SQQQ and TQQ kick it up another notch by seeking triple daily returns through two separate and riskier strategies.

At the root of each ETF, however, is the Nasdaq 100. The long-term oriented investor is best served buying QQQ as it exposes them to long-term stock market gains in the technology sector while traders who aim to profit from shorter term dips in price can look to the QID or SQQQ.

>> Vanguard VFIAX Vs VOO

Vanguard Information Technology ETF Explained

While they have a lot of the same investments – like Microsoft Corporation (NASDAQ:MSFT), PayPal, Nvidia – the Vanguard Information Technology ETF dives deeper into technology stocks than QQQ.

It’s a technology-specific ETF that seeks to replicate the broader technology sector. However, there are some notable tech stocks missing.

Besides those already mentioned, it also includes several heavy-hitting financial technology stocks, like:

  • Visa Inc. Class A (NYSE:V) 
  • Mastercard Incorporated Class A (NYSE:MA)
  • Cisco Systems Inc. (NASDAQ:CSCO) 
  • Intel Corporation (NASDAQ:INTC) 
  • Adobe Inc (NASDAQ:ADBE)
  • Oracle Corporation (NYSE:ORCL)
  • Salesforce.com, inc. (NYSE:CRM) 

Like QQQ, its biggest exposure is in Apple, but this ETF portfolio’s Top 10 list notably lacks Facebook, Inc. (NASDAQ:FB), Alphabet Inc (NASDAQ:GOOGL), and Amazon (AMZN).

If you want to include those while sticking with Vanguard, the Vanguard Growth ETF (NYSEMKT:VUG) is the perfect fund for that, although it also includes non-tech securities.

The VGT is one of many ETFs provided by Vanguard – in fact, it’s the second largest provider after iShares. It has a wide variety of industry-specific ETFs, and each is a broader part of the Vanguard Total Stock Market ETF (NYSEARCA:VTI).

VGT is passively managed to track and manage the performance benchmarks of the information technology market sector. Each component is weighted to balance the market capitalizations and ensure a smooth investment vehicle.

In fact, let’s dive deeper into the investment differences between the Nasdaq 100 and Vanguard’s indexes to see how they compare.

>> Vanguard VTI Vs VOO

What Stocks Make Up QQQ?

There are 100 stocks in the Nasdaq 100, and they run the gamut of industries. Its heyday came during the Dotcom Bubble at the turn of the millennium, although it still maintains around $10 billion in average daily trading volume in 2020.

Stocks on the QQQ index include:

  • Activision Blizzard Inc (NASDAQ:ATVI)
  • Charter Communications Inc (NASDAQ:CHTR)
  • Dollar Tree, Inc. (NASDAQ:DLTR)
  • Kraft Heinz Co (NASDAQ:KHC)
  • Mondelez International Inc (NASDAQ:MDLZ)
  • NXP Semiconductors (NASDAQ:NXPI)
  • Sirius XM Holdings Inc (NASDAQ:SIRI)
  • T-Mobile US (NASDAQ:TMUS)
  • Ulta Beauty Inc (NASDAQ:ULTA)
  • Verisign, Inc. (NASDAQ:VRSN)

Zoom Video Communications Inc (NASDAQ:ZM), DexCom, Inc. (NASDAQ:DXCM), DocuSign Inc (NASDAQ:DOCU), Moderna Inc (NASDAQ:MRNA), and Pinduoduo Inc – ADR (NASDAQ:PDD) were all added to the index in the aftermath of the 2020 novel coronavirus pandemic.

They were able to successfully recover and generate revenues to maintain or gain value for investors while the components they replaced (which included multiple airlines) failed.

In fact, every year, the Nasdaq 100 is rebalanced and reranked, while included companies can be replaced at any time by higher-performing investments.

This fluidity ensures you benefit from an advanced investment strategy without needing to actively monitor the entire market to determine where your funds should go.

Typically, only day traders and large investment firms have professional analysts watching these markets. With the QQQ ETF, you gain their experience without the time investment.

Let’s explore the fees involved with investing in each of these ETFs mentioned.

QQQ Fees and Expense Ratios

The expense ratio or managed expense ratio (ER/MER) is how much of the ETF’s assets are used for operational expenses.

Because these administrative and other costs are deducted from the fund itself, it reduces the assets and subsequent return to investors. For the QQQ ETF, the expense ratio is 0.2 percent.

QID, on the other hand, requires a lot more hands-on approach, and its expense ratio increases to 0.95 percent.

TQQQ and SQQQ also have a 0.95 percent expense ratio, making each of them extraordinarily high.

By comparison, the S&P 500 has over a dozen index funds with an expense ratio of less than 0.1 percent.

QQQ, which is the lowest ratio of the indices is still twice as expensive to manage as any of the S&P 500 funds.

>> Betterment vs Vanguard

VGT Costs and Management Fees

VGT has an expense ratio of 0.1 percent. This is more expensive than both the S&P 500, although still cheaper than QQQ and far less than the other Invesco ETF offerings.

Vanguard also offers an optional Personal Advisor Services asset management fee of 0.3 percent that covers all the administration costs of additional personal advisory services.

VANGUARD PERSONAL ADVISOR SERVICES
vanguard investments

InvestorMint Rating

4.5 out of 5 stars

  • Management Fee: 0.30%
  • Account Minimum: $50,000

via Vanguard secure site

Because the company has over $6.2 trillion in assets under management, there is a good chance you may already have something invested in Vanguard without even knowing it.

If you do use them as your investment firm, be aware that they will favor their own ETFs over competitors.

Now that you understand the fee structures of each ETF, let’s discuss what really matters – how much money they’re returning to investors.

>> Best Vanguard Funds

QQQ Returns vs VGT Returns

Each of these funds is popular because they have healthy financial returns for investors, in the form of both market growth and dividend payments.

While no investment’s future is guaranteed, here’s what these two ETFs have historically paid heading into the 2020s.

QQQ RETURNS

QQQ has an annual dividend yield of 0.55%, or approximately $1.629 per share annually.

Its five-year growth from 2015-2020 nearly tripled its value, growing from just over $100 to over $275 per share.

It also more than doubled in price during the previous five-year period from $45 in 2010. This gives it strong performance indicators moving through the 2020s.

VGT RETURNS

VGT also pays a cash dividend, although the coronavirus may have suspended this for the remainder of 2020.

In 2019, the fund paid $2.72 per share to investors, and $1.516 was already distributed in 2020 before the end-year freeze.

In the five-year period from 2015-2020, VGT tripled in price, going from $100 in 2015 to over $300 in 2020.

Its previous five-year performance was a little slower though, increasing from $60 to $100 per share.

>> Vanguard Review

QQQ vs VGT: The Bottom Line

ETFs are a great way to diversify your investment portfolio without needing to spend a lot of money to get 1 share of an expensive company.

They also provide the benefit of advanced trading strategies that are passively executed, so you don’t have to watch the market. QQQ and VGT are both popular choices for those seeking a technology investment.

VGT is outperforming QQQ in 2020, and it has a more tech-focused offering. It’s also slightly cheaper with fees, making it the obvious choice between the two, unless you really want a piece of companies like Facebook, Google, and Amazon.

>> Vanguard Personal Advisor Services Review

The article PowerShares QQQ vs VGT was originally posted on Investormint

]]>
0
Is Quentin Tarantino Net Worth Over $100M? https://investormint.com/celebrity/quentin-tarantino-net-worth https://investormint.com/celebrity/quentin-tarantino-net-worth#disqus_thread Wed, 09 Sep 2020 00:17:44 +0000 https://investormint.com/?p=13919 Most industry experts estimate Tarantino’s net worth at approximately $120 million, based on his $20 million in pay for directing.

The article Is Quentin Tarantino Net Worth Over $100M? was originally posted on Investormint

]]>
Gentlemen you had my curiosity … but now you have my attention. – Quentin Tarantino

Quentin Tarantino’s films often achieve blockbuster success, but they aren’t anything like the beautiful, big-budget peers that bring in millions.

Most fans would be hard-pressed to find any commonalities between Tarantino pictures and runaway hits such as the Star Wars, Lord of the Rings, and Harry Potter franchises.

Over-the-top violence is a hallmark of Tarantino’s scripts, yet it isn’t the violence that sets the movies apart. Each is a masterpiece of sharp dialogue, unpredictable plot twists, and complex storylines, delivered by some of the most talented actors in the industry.

Certain scenes and quotes from Tarantino’s movies have taken on a life of their own. They are integrated into American culture, and both fans and critics of Tarantino can instantly identify the most memorable bits.

His ability to write and direct movies that attract awards, acclaim, and attention from moviegoers has generated a box office fortune, leading many to wonder what is Quentin Tarantino’s net worth?

Quentin Tarantino Rise to Fame

I’ve never considered myself a writer writing stuff to sell, but as a director who writes stuff for himself to direct. – Quentin Tarantino

When Quentin Tarantino was born in 1963, his birthplace of Knoxville, Tennessee, wasn’t noted for its Hollywood ties.

Fortunately, at the age of four, the family moved to California, giving Tarantino new opportunities to immerse himself in all things film-related.

As Tarantino grew older, he became enamored with the big screen, and he made every effort to put himself as close to the action as possible. He took a job in a video store and got to work on his screenplays.

Two scripts launched Tarantino’s career – those for True Romance and Natural Born Killers.

In 1992, he wrote and directed Reservoir Dogs, which gained something of a cult following, but it wasn’t until 1994 and the release of Pulp Fiction that Tarantino’s career exploded into public view.

The creative and complex storyline, A-list cast, and clever dialogue put Tarantino in the spotlight, eventually earning him an Academy Award for Best Screenplay.

>> How Much Is Demi Moore Worth?

How Much is
Quentin Tarantino’s Net Worth?

Keepin’ you at a disadvantage, is a advantage I intend to keep. – Quentin Tarantino

Given his success in the lucrative world of filmmaking, it’s no surprise that Quentin Tarantino is a wealthy man.

Django Unchained brought in $450 million at the box office worldwide, and Once Upon a Time in Hollywood generated $374.3 million.

quentin tarantino net worth

Most industry experts estimate Tarantino’s net worth at approximately $120 million, based on his $20 million in pay for directing, additional amounts earned from writing the scripts, and the clause that entitles him to a percentage of any profits generated by his films.

To put this figure in context, consider the estimated net worth of other successful filmmakers:

  • Oliver Stone’s net worth – $70 Million
  • Woody Allen’s net worth – $80 Million
  • Rob Reiner’s net worth – $100 Million
  • Martin Scorsese’s net worth – $100 Million
  • Tim Burton’s net worth – $140 Million
  • Ron Howard’s net worth – $160 Million
  • Francis Ford Coppola’s net worth – $300 Million
  • Peter Jackson’s net worth – $500 Million
  • James Cameron’s net worth – $700 Million
  • Steven Spielberg’s net worth – $3.7 Billion
  • George Lucas’ net worth – $5.4 Billion

>> John Krasinski Net Worth Is Surprising

Quentin Tarantino: Reservoir Dogs

I don’t wanna kill anybody. But if I gotta get out that door, and you’re standing in my way, one way or the other, you’re gettin’ outta my way.  – Quentin Tarantino, Reservoir Dogs

After writing the screenplay for Reservoir Dogs, Quentin Tarantino decided it was time to direct.

He wanted to be sure the final version of the film stayed true to his original vision. The basic plot follows a gang of diamond thieves through a disastrous failure of a heist. However, it is much more than a typical action movie.

Reservoir Dogs was one of Tarantino’s first experiments with non-linear storytelling, and he incorporated all of the elements that would flow through his future hits.

Over-the-top violence and profanity kept certain movie-goers away, but a dedicated core collection of fans – and the fact that it was made on a miniscule budget – ensured the film’s financial success.

The film was more popular overseas than at home, and Reservoir Dogs was eventually named the Greatest Independent Film of All Time by British film magazine Empire.

>> How Much Money Does Charlie Sheen Have?

Quentin Tarantino: Pulp Fiction

KABOOM!!! – Quentin Tarantino, Pulp Fiction: A Quentin Tarantino Screenplay

Though Quentin Tarantino was already making waves in Hollywood after the release of Natural Born Killers and Reservoir Dogs, his true genius wasn’t revealed until the 1994 hit Pulp Fiction.

The cast, which includes Samuel L. Jackson, John Travolta, Uma Thurman, and Bruce Willis, depicts the dark criminal underbelly of Los Angeles.

TriStar Pictures didn’t want to make Pulp Fiction, but Miramax was quick to take the project on. It was almost a genre in itself, and the producers could see its potential. Pulp Fiction was first screened at the Cannes Film Festival, where it was wildly popular. It went on to receive seven Academy Award nominations, as well as nominations for actors Jackson, Travolta, and Thurman.

Pulp Fiction grossed $107.93 million in the United States, which was impressive considering its minimal budget of $8.5 million.

Globally, the box office tally was approximately $213 million. The success of Pulp Fiction demonstrated that Tarantino was a force to be reckoned with, and it smoothed the way for production of subsequent projects.

>> How Rich Is Hayden Panettierre

Quentin Tarantino: Movies

You don’t have to know how to make a movie. If you truly love cinema with all your heart and with enough passion, you can’t help but make a good movie. – Quentin Tarantino

For years, Quentin Tarantino has been clear about his career goals. He has consistently stated that he will make ten movies, and then he will retire from filmmaking.

That isn’t to say that he will retire from the creative world altogether – he has indicated that he plans to write books on the world of cinema, and he might even take up writing for the theatre.

In 2019, Tarantino released his ninth feature film, Once Upon a Time in Hollywood. The script pays homage to the golden age of film – the era that attracted Tarantino to filmmaking in the first place.

Some wonder if he will truly go on to make a tenth, given the general feel that Once Upon a Time in Hollywood is the capstone to an exceptional career.

Tarantino said, “If it’s really well received, maybe I won’t go to 10. Maybe I’ll stop right now. Maybe I’ll stop while I’m ahead. We’ll see.

Previous films, in order of release date, include:

  • Reservoir Dogs (1992)
  • Pulp Fiction (1994)
  • Jackie Brown (1997)
  • Kill Bill: Volume 1 (2003)
  • Kill Bill: Volume 2 (2004)
  • Death Proof (2007) 
  • Inglourious Basterds (2009)
  • Django Unchained (2012)
  • The Hateful Eight (2015)

While not all of Tarantino’s films were a success at the box office, it is safe to say that each generated a lot of buzz among critics and fans. Most are exceptionally violent, creating controversy in some circles, but others embraced the style and delivery.

Perhaps the biggest feather in Tarantino’s cap is his ability to attract Hollywood’s top actors.

A variety of big names appear in his films, and some play important roles in multiple films. For example, Samuel L. Jackson is the face of six movies directed by Tarantino, and Uma Thurman plays lead characters in three.

Leonardo DiCaprio and Brad Pitt each had parts in two of Tarantino’s movies, with both appearing in Once Upon a Time in Hollywood.

These four, along with other actors in Tarantino’s films, have received Academy Award nominations for their work with Tarantino.

>> Is Hugh Laurie Rich?

Quentin Tarantino:
Awards and Honors

There are two ways: my way and the highway. – Quentin Tarantino

To date, Quentin Tarantino has nine films to his credit, and those nine films have attracted attention from film critics and fans worldwide.

Tarantino has been nominated for 275 separate honors, and he has 167 wins to his name. Some of the most notable include:

Once Upon a Time in Hollywood (2019)

  • Oscar Nomination Best Motion Picture of the Year – 2020
  • Oscar Nomination Best Achievement in Directing – 2020
  • Oscar Nomination Best Original Screenplay – 2020
  • Golden Globe Winner Best Screenplay, Motion Picture – 2020
  • Golden Globe Nomination Best Director, Motion Picture – 2020

The Hateful Eight (2015)

  • Golden Globe Nomination Best Screenplay, Motion Picture – 2016

Django Unchained (2012)

Inglourious Basterds (2009)

  • Oscar Nomination Best Achievement in Directing – 2010
  • Oscar Nomination Best Writing, Original Screenplay – 2010
  • Golden Globe Nomination Best Director, Motion Picture – 2010
  • Golden Globe Nomination Best Screenplay, Motion Picture – 2010

Pulp Fiction (1994)

>> How Wealthy Is Matthew McConaughey?

Is Quentin Tarantino Married?

When I’m doing a movie, I’m not doing anything else. It’s all about the movie. I don’t have a wife. I don’t have a kid. Nothing can get in my way… I’ve made a choice, so far, to go on this road alone. Because this is my time. This is my time to make movies. – Quentin Tarantino

For more than 50 years, Quentin Tarantino insisted he had no time for marriage. He was focused on his work, and there simply wasn’t room in his life for a family.

That changed in 2017, when he proposed to Daniella Pick, daughter of the Israeli singer and songwriter Tzvika Pick. The two were engaged in June 2017 and married in November 2018, just days after Tarantino finished filming Once Upon A Time in Hollywood.

In August 2019, at the age of 56, Tarantino announced that he and his wife were expecting their first child. The baby boy was born in Israel on February 22, 2020, and the Tarantinos named him Leo after Daniella’s grandfather.

>> Is Scott Baio Rich?

Quentin Tarantino
Net Worth Summary

If my answers frighten you then you should cease asking scary questions. – Quentin Tarantino

In terms of net worth, Quentin Tarantino falls close to the midpoint as compared to industry peers. However, it has long been clear that Tarantino was never in the filmmaking business for the money.

From his earliest work, Tarantino has focused on pushing boundaries, innovating, and exploring the limits of cinema through complex storylines and strong dialogue.

He hasn’t relied on a big budget to create his pictures, instead focusing on language and acting to create his scenes.

While it seems that he has reached a turning point in his career, it is unlikely that Tarantino will fade off into oblivion. He may not write and direct additional films, but his influence is sure to appear in unexpected ways as he transitions to new creative outlets.

>> What Is Tommy Wiseau Worth?

The article Is Quentin Tarantino Net Worth Over $100M? was originally posted on Investormint

]]>
0
Blooom Vs Robo-Advisors Review 2020 https://investormint.com/investing/blooom-401k-vs-robo-advisors https://investormint.com/investing/blooom-401k-vs-robo-advisors#disqus_thread Thu, 03 Sep 2020 14:51:43 +0000 https://investormint.com/?p=3408 Blooom manages defined contribution plans, including 401(k), 403(a), 403(b) and 457 plans for a flat annual fee and has no account minimums.

The article Blooom Vs Robo-Advisors Review 2020 was originally posted on Investormint

]]>
Most robo-advisors compete fiercely to invest your money by rolling out an extensive range of services, including digital and human advice, retirement calculators, and mobile financial apps. But few cater to retirement investors who aren’t quite sure whether their 401(k)s are being managed adequately.

And that has left a gaping market opportunity for a digital money manager called blooom, which was started by three guys from the mid-west.

blooom grow your 401k blooom is unique among robo-advisors because it specializes in managing 401(k) accounts that so many robo-advisors overlook.

Unlike robo-advisors who require you to transfer assets, blooom simply connects to defined contribution plan accounts you already have, so getting started with blooom is easy.

Another brownie point for blooom is its pricing. blooom charges a flat annual rate starting at just $95.

Plus, blooom stipulates no account minimum so small accounts can benefit right away and individuals with large account sizes get a whole lot of bang for their buck.

blooom  Spotlight

BLOOOM SPOTLIGHT
blooom logo

InvestorMint Rating

4 out of 5 stars

  • Management Fee: $95 - $250
  • Account Minimum: $0

via Blooom secure site

blooom Vs Robo-Advisors

blooom (with three “o”s) is laser-focused on optimizing 401(k) plans for Americans. Unlike most other robo-advisors who generally cater to taxable accounts, traditional IRAs, Roth IRAs, and SEP IRAs, blooom exclusively manages 401(k) plans.

If you have a chunk of change that you want to invest at low cost, a bunch of top notch robo-advisors will crop up on your radar screen.

But most of these companies focus on standard taxable accounts as well as traditional IRAs, SEP IRAs, rollover IRAs and Roth IRAs. Where blooom stands apart from its rivals is its focus on defined contribution plans.

What comes as a shock to many 401(k) investors is that their investment representatives and fund companies don’t actually manage their money on their behalves.

blooom vs robo advisors

When you first sign up with those companies, you would have picked the percentage allocation to invest in each fund, and if you’re like most people that selection process was probably random. It is not uncommon for many 401(k) investors to choose an allocation and forget about it as time goes by.

For most retirement investors, 401(k) investing is a murky world of fees and uncertain fund choices. The funds you invest in have expense ratios that eat away at your savings year after year and the allocation may be less than ideal, but how do you really know?

blooom has the ambitious goal to “fix 401(k)s for EVERY American” and it’s off to a flying start with over $500 million in assets managed. The idea is to make 401(k) help smart, simple and easily available to all Americans.

How blooom Works

To get started, connect blooom to your existing online 401(k) account. blooom analyzes your 401(k) holdings and makes changes within 10 to 30 days. Thereafter, blooom monitors your account regularly and notifies you when it automatically rebalances your portfolio.

When you sign up with blooom, your assets stay put. You don’t have to deal with the hassles of transferring funds to get started.

Unlike many other robo-advisors, which take custody of your assets, blooom simply links into your existing 401(k) accounts. As long as your account is online, blooom can get to work right away evaluating your 401(k) holdings.

The best way to think of blooom is as a digital manager that is constantly reviewing your 401(k) account holdings to check whether your allocations match your risk profile and the algorithm is looking for ways to lower your costs. Once you link your account to blooom, it takes anywhere from 10 to 30 days for blooom to “fix” your 401(k).

The heavy lifting of account analysis at blooom is done by computer algorithms in an automated way but licensed advisors and blooom account coordinators test and confirm rebalancing is accurately completed.

After changes have been made, blooom regularly monitors your account to check whether changes are needed, and takes action on your behalf so you don’t have to lift a finger.

Each time changes are made, you will be notified by email so you won’t be surprised when you receive your 401(k) statements in the mail with new portfolio selections.

Where blooom shines even more brightly is that if specific questions about your 401(k) do crop up, you have access to experts via live chat, email or phone.

Which Accounts Does blooom Manage?

blooom exclusively manages employer-sponsored retirement accounts, including:

So far, only individual accounts are managed by blooom. Families will need to sign up separately to ensure each account is diversified, and each family member has their own blooom profile, including age and target retirement date.

For investors seeking automated investment management of taxable accounts, traditional IRAs, Roth IRAs, SEP IRAs, rollover IRAs, and Trusts, robo-advisors, such as Betterment, will be a better fit.

blooom Fees Vs Robo-Advisor Fees

Most robo-advisors charge a percentage of assets under management. For example, Betterment and Wealthfront both charge 0.25% annually for purely digital advice.

Schwab Intelligent Portfolios is unique in charging no management fees because it makes money from expense ratios of proprietary funds which make up client portfolios.

And financial industry goliaths, such as Vanguard and Fidelity, also offer robo-advisor services for an annual fee which is a percentage of assets under management.

By contrast, blooom charges a flat annual rate of $95 – $250 depending on which level of service you choose:

  • Essentials: $95
  • Standard: $120
  • Unlimited: $250

No matter what the size of your account, the flat rate remains the same. You won’t find any hidden “gotchas” in their fee schedule and you can cancel anytime.

For individuals with $50,000 or more in retirement savings in a 401(k), blooom is an obvious win. You pay lower fees than at most other robo-advisors and don’t have to worry about the hassles of transferring assets to another custodian.

How Safe Is Your Account With blooom?

blooom employs five primary methods to safeguard your 401(k) account security:

Security Feature Description
256-Bit Encryption SSL encryption is used to keep data private.
Bank-Level Security High level security is applied to all personal information.
Secure Servers Encryption is used to ensure online transactions are secure and data is kept confidential.
24/7 Hacker Virus Scans Around the clock scanning is designed to protect you from fraud and unusual account activity.
3rd Party Verification To make sure your identity is not compromised, third party verification is used.

blooom Portfolios Vs Robo-Advisors

Most robo-advisors incorporate Nobel-prize winning research, called Modern Portfolio Theory, into their algorithmic selection of funds when building client portfolios.

Generally, this means targeting returns that match your risk profile. Younger investors with longer time horizons can invest more heavily in stocks while individuals closer to retirement have higher weightings of bonds usually.

blooom doesn’t look to reinvent the wheel when it comes to investment selection but instead modifies portfolio allocations to align with target risk levels. If your portfolio is weighted too aggressively in equities compared to your financial goals, risk profile and time horizon, blooom makes the necessary adjustments.

A challenge blooom faces is the limited investment choices available. Unlike an IRA or standard taxable account, 401(k) accounts are limited by a set number of funds that your employer plan sponsor makes available. So, blooom looks to optimize your allocation based on the choices available rather than the universe of all stocks and bonds.

blooom Vs Robo Advisors Summary

blooom stands apart from other robo-advisors in three primary ways. First, blooom specializes in 401(k) accounts and defined contribution plans more generally as opposed to taxable accounts and IRAs.

Secondly, blooom does not take custody of your assets but instead links into existing online retirement accounts where your 401(k) is managed and monitors allocation and fees digitally using proprietary algorithms.

And finally, blooom charges a flat rate annual fee instead of a percentage of assets under management, which offers compelling value to large account sizes because fees do not increase proportionately as they do with most robo-advisors.

For any retirement-focused investor who is serious about optimizing their 401(k) holdings, blooom is our top choice digital manager.

The article Blooom Vs Robo-Advisors Review 2020 was originally posted on Investormint

]]>
0
Blooom Inc – 401k Auto Managed For $95/yr? https://investormint.com/investing/robo-advisors/blooom-inc https://investormint.com/investing/robo-advisors/blooom-inc#disqus_thread Thu, 03 Sep 2020 14:36:24 +0000 https://investormint.com/?p=5266 Blooom is a robo-advisor that manages defined contribution plans, including 403(b)s, 403(a)s, 457s, and thrift savings plans for a flat annual fee.

The article Blooom Inc – 401k Auto Managed For $95/yr? was originally posted on Investormint

]]>
blooom Inc specializes in managing retirement plans like 401(k)s automatically.

Most other online money managers avoid these retirement plans like the plague so blooom earns high marks for tackling workplace retirement plans head on.

Beyond 401(k) portfolios, blooom automatically manages defined contribution plans, like 403(b)s, 403(a)s, 457s, and thrift savings plans.

If you have a workplace retirement plan that causes your eyes to glaze over, you will want to read on. Where blooom Inc shines is by analyzing your retirement account holdings and weightings for free, and managing them automatically for as low as $95 per year.

blooom Inc Fees & Minimums

BLOOOM SPOTLIGHT
blooom logo

InvestorMint Rating

4 out of 5 stars

  • Management Fee: $95 - $250
  • Account Minimum: $0

via Blooom secure site

Fix Your 401(k) In 5 Minutes?

blooom makes the lofty claim that it can fix your 401(k) in 5 minutes and delivers on its promise.

It only takes a few minutes to link your workplace 401(k) plan to blooom.  Your company doesn’t need to have a prior relationship for you to reap the benefits.

blooom Inc Cost & Features

Flat Annual Cost As low as $95
Minimum Investment $0
Automatic Management YES
Portfolios Rebalanced Every 90 days
Workplace Retirement Plans 401(k), 403(a), 403(b)
Thrift Savings Plan YES
Client Fees Saved > $600 million
blooom BBB Rating A+

Is blooom Inc Right For You?

blooom is best for investors with employer-sponsored plans, who are fee-savvy, and lean towards being more risk-seeking investors.

According to blooom Inc, clients have collectively saved over $600 million in fees by using its service. And it’s no surprise that it has become so popular because it solves a real problem.

Puzzling over retirement plan choices is often a game of chance for employees. Few employees have the time or interest to research mutual fund expense ratios, ongoing fees, and performance returns of each fund selected.

To save employees the hassle, blooom takes over the process of selecting your portfolio holdings and allocating them.

Unless you are a mutual fund expert, chances are blooom can help you if you have one of the following defined benefit plans:

  • 401(k)
  • 403(b)
  • 403(a)
  • 457

blooom portfolios lean towards a heavier weighting of stocks than bonds so conservative investors should pay heed.

Regardless of your risk tolerance, you can enjoy free portfolio analysis to gauge whether opportunities for improved portfolio selections and allocations exist.

The bottom line is that for the vast majority it makes sense to hand over the responsibility of retirement plan management to blooom.

How blooom Inc Works

As part of its Standard package, blooom monitors your portfolio regularly to ensure it is optimally balanced, and rebalances it every 90 days.

Sometimes blooom may not have much choice other than to select a high cost fund because employer-sponsored plans are limited to a fixed set of choices usually. Often, only one choice of fund exists in an investment category.

But while blooom may run into a brick wall from time to time when it comes to fund selections, it can still make decisions about the optimal amount to invest in each fund in order to keep the overall portfolio composition balanced.

How Much Is blooom Inc?

blooom doesn’t impose any hurdle to get started so it’s ideal for price-conscious investors.

It’s 100% free to connect your 401(k) and analyze it, and no account minimum is imposed either.

blooom Pricing

blooom charges a flat fee yearly regardless of how much money is in your defined contribution plan.

blooom charges an annul fee of as low as $95, which is about the cost of a Netflix subscription.

It’s hard to argue blooom is expensive at that price but if you have a small portfolio it might be a lot in percentage terms.

Whether you have a $10,000 portfolio or a $100,000 portfolio, blooom charges a fee as low as $95 for the year. If you want more service options, a higher fee is required as part of its Standard and Unlimited packages, both of which off auto optimization.

Someone with $10,000 pays  just 0.95% in fees on managed assets compared to just 0.10% for the person with $100,000.

Portfolio Size Annual Percentage Fee of Assets
$10,000 0.95%
$50,000 0.19%
$100,000 0.10%

blooom vs Betterment

blooom stands alone as the only robo-advisor willing to directly manage your 401(k) retirement portfolio.

In the highly competitive field of robo-advisors, you might expect that blooom has lots of rivals but remarkably it stands virtually alone.

Unlike standard taxable accounts, IRAs, Trusts, and a host of other financial accounts, 401(k)s are quite messy to manage.

Employers often feature a limited pool of funds and each employer has a slightly different take on which funds are offered to employees, so the process is by no means standardized.

By contrast, a robo-advisor like Betterment can select from the entire universe of index funds when building client portfolios in non-401(k) accounts, which is precisely why so few robo-advisors compete with blooom.

But tens of thousands of businesses offer 401(k) plans to employees so there is a real opportunity for a brave robo-advisor to help the average Joe or Jane out, and so far blooom stands alone as the single company willing to directly manage 401(k)s using a technology-powered algorithm.

Personal Capital and Vanguard Personal Advisor Services will provide guidance to clients who hold 401(k)s but they won’t directly manage them, so blooom really is your only answer if you want a hands-off approach to managing your 401(k).

blooom Performance Returns

blooom strives to improve portfolio returns by removing funds that don’t align with your retirement goals and by inserting funds that better meet your objectives.

To improve the performance of your defined contribution plan portfolios, blooom relies on computer algorithms to:

  1. Analyze funds in your existing 401(k) and remove ones that don’t align with your retirement goals or have higher fees than alternatives.
  2. Choose index funds to keep fees low unless an actively managed fund is a better choice to gain necessary exposure.
  3. After choosing the optimal funds to meet your target allocation, blooom chooses funds with the most competitive expense ratios and managers’ experiences.
  4. Lastly, blooom cross-references and verifies results to ensure they comply with your recommended 401(k) allocation.

Both fund selections and weightings are assessed every 90 days and rebalanced if necessary.

Over time, when retirement looms closer, blooom automatically adjusts the weightings of stocks in your portfolio down lower to better suit your lower risk tolerance.

blooom Review: Pros and Cons

blooom imposes no account minimum, analyzes your portfolio for free, connects you to financial experts, and charges a flat annual fee, but small account sizes will pay high annual percentage fees on managed assets.

blooom Pros blooom Cons
Flat Annual Fee: blooom charges a flat annual fee of as low as $95 to directly manage defined contribution plan portfolios. Lack of Phone Support: No phone support is available via blooom, but email and live chat support is provided.
Expert Financial Advice: Email and live chat support is available from financial experts so you can ask about more than retirement portfolio planning. High Fees On Small Accounts: Smaller account sizes will pay high percentage fees annually on managed assets.
Regular Rebalancing: Every 90 days blooom rebalances portfolios if needed and notifies clients when changes are made.
Free 401(k) Analysis: Even if you don’t sign up as a premium client, blooom will analyze your 401(k) for free.
Zero Account Minimums: No account minimum is stipulated to get started.

blooom Account Types

blooom supports the following employer-sponsored plans: 401(k), 403(b), 401(a), 457 and Thrift Savings Plans.

Type Capability
401(k)
401(a)
403(b)
457
Thrift Savings Plan

blooom Inc Review Summary

blooom solves a real problem for retirement-oriented investors with employer sponsored plans who don’t know how much money to invest in each portfolio holding or aren’t sure which funds are best suited to meet their financial goals.

The few robo-advisors who do venture into the defined contribution plan space only provide guidance. By contrast, blooom directly and automatically manages workplace retirement plan portfolios.

The annual fee starting at $95 is low, though arguably for small account it is high on a percentage basis. Overall, we believe the value provided is significantly greater than the cost.

The article Blooom Inc – 401k Auto Managed For $95/yr? was originally posted on Investormint

]]>
0
Fix Your 401(k) with Blooom (Review) https://investormint.com/investing/robo-advisors/blooom-review https://investormint.com/investing/robo-advisors/blooom-review#disqus_thread Thu, 03 Sep 2020 14:34:14 +0000 https://investormint.com/?p=682 blooom Review: The undisputed leader in the robo-advisor industry when it comes to automatically managing 401(k) plans is blooom. If you are an employee at a company that requires you to pick a handful of funds for your retirement plans, blooom can help you find the best funds to meet your retirement goals. Your portfolio is balanced every 90 days to ensure it stays aligned with your objectives.

The article Fix Your 401(k) with Blooom (Review) was originally posted on Investormint

]]>
blooom-review

InvestorMint provides personal finance tools and insights to better inform your financial decisions. Our research is comprehensive, independent and well researched so you can have greater confidence in your financial choices.

blooom is unique among robo-advisors because it specializes in helping investors manage employer-sponsored retirement plans automatically.

Like other robo-advisors, blooom Inc uses computer algorithms to build retirement portfolios. And it goes a step further by connecting customers to financial advisors, who are available by chat, email, and phone during weekdays.

During our blooom review, we were pleasantly surprised to discover that the cost of managing a 401(k) starts as low as $95 per year. The low fee is compelling, especially when you consider that most other robo-advisors steer clear of defined contribution plans.

And unlike some robo-advisors, blooom won’t penalize newcomers with any account minimum hurdle. In fact, when you weigh up the pros and cons, it’s easy to see why blooom offer tremendous value.

Blooom Promo Code

BLOOOM SPOTLIGHT
blooom logo

InvestorMint Rating

4 out of 5 stars

  • Management Fee: $95 – $250
  • Account Minimum: $0

via Blooom secure site

How blooom Works

You can create a blooom account and connect easily to your existing 401(k), 403(b), 401(a), 457 or TSP plans. blooom will then analyze your portfolio for free.

If you are not sure whether your portfolio is optimized for your age, risk, and goals, blooom evaluates it using proprietary computer algorithms at no cost.

Here is a quick demo and overview of how blooom works:

Although blooom can analyze and make changes to your portfolio, it cannot withdraw funds from your account.

Once your account analysis has been completed, blooom factors in your age and timeline to retirement in order to build a target portfolio for you.

After blooom reviews your portfolio composition, it recommends investments from up to 14 asset classes.

Where blooom adds value to you is by crunching through thousands of options to select the optimal investment in each asset class to meet your needs.

Usually, low-cost index funds are favored but every once in a while blooom will select an actively-managed fund if it is a better match for your risk level and retirement goals.

Finally, blooom reviews your portfolio to ensure the portfolio built by its algorithms is indeed a match for you and fund changes are made.

Every 90 days, your portfolio will be re-analyzed to ensure portfolio weightings align with your capacity for risk and financial goals. And each time a change is made, blooom alerts you to the funds which are replaced.

blooom Inc Cost & Features

Low Annual Fee As low as $95
Minimum Investment $0
Automatic Management YES
Portfolios Rebalanced Every 90 days
Workplace Retirement Plans 401(k), 403(a), 403(b)
Thrift Savings Plan YES
Client Fees Saved > $600 million+
blooom BBB Rating A+

blooom Review: Is It Right For You?

blooom is designed for price-sensitive investors who want to hand off portfolio management to a financial advisor. 

Risk-Seeking Vs Risk-Averse Investors

When you join you will be invited to enter your birth date and specify when you plan to retire. With this information, blooom knows your age and the duration before you retire. It then constructs a portfolio to match your capacity for risk and financial aims.

blooom leans somewhat aggressive in its portfolio composition. Equities are weighted heavily until about 20 years out from retirement when bonds feature in the mix more prominently.

Because of the higher exposure to stocks, blooom is ideal for investors who are more risk-seeking than risk-averse.

Investors Seeking Professional Portfolio Management

Many research studies have shown that investors who receive professional financial advice outperform those who invest alone.

The reason so many investors fall short of the mark without advice is because, according to blooom, they make three major errors.

The first is to build a portfolio of bonds and stocks that have an incorrect mix compared to their risk tolerances and financial goals.

Next, investors frequently fail to diversify their 401k plans and instead invest heavily in a single company. Usually they are biased towards investing in the company that employs them.

And lastly, they don’t want to face the challenge of managing their retirement accounts, so they stick their heads in the sand like an ostrich!

Price Sensitive Investors

For investors who see the value of expert financial advice and care about the cost of receiving it, blooom is hard to beat because it charges a low annual fee.

For a low annual fee, blooom will identify areas of improvement in your existing 401(k) portfolio, make changes, and provide ongoing management of your existing portfolio.

Investors Seeking Alternative To Financial Advisors

Unless you pay a financial advisor a much higher fee (most likely), blooom is a compelling alternative. Not only is it an excellent option for investors who don’t want to pay a dedicated financial advisor, but it is also unique among robo-advisors.

Few robo-advisors dabble in 401(k)s because they can be a nuisance to manage. Each employer has its own set of limited securities in which employees can invest and it’s a difficult challenge to automate portfolio management of defined contribution plans.

For this reason, even the robo-advisors who advise on 401(k) plans, like Personal Capital, won’t manage them for you.

In fact, if you want your 401(k) plan managed automatically, blooom is really your only option.

blooom is best for:

  • Retirement-focused investors
  • Beginner investors
  • Fee-conscious investors
  • Hands-off investors
  • Investors who are more risk-seeking than risk-averse

blooom Fees Are Low

According to blooom, the average client could save over $60,000 in hidden fees over their working life based on a balance of $43,310 and an average annual contribution of $5,000.

blooom charges an annual fee that starts from as low as $95 for its Essentials package to as much as $25o for its Unlimited package.

The lifetime savings by choosing blooom amount to an astonishing $60,000 in fees based on an average balance of around $43,000.

To save you so much money, you might assume that blooom costs a fortune but in fact the flat annual fee is very affordable, especially for large accounts.

blooom fees

  • $95 – $250 Annual Management Fee
  • $0 Account Minimum

Compared to traditional financial advisors or other robo-advisors, this fee is very competitive. The $95 fee gets you a personalized portfolio but lacks the auto optimization.

The Standard package will include all the features of the Unlimited package but without the priority advisor access.

For $250 a client receives:

  • Personalized Portfolio
  • Auto Optimization
  • Transaction Activity Alerts
  • Advisor Access
  • Priority Advisor Access

That still compares well to a human advisor but it’s higher than Betterment and others charge to manage IRA and taxable portfolios.

The gotcha is the only place to manage your 401(k) automatically is blooom so choosing another robo-advisor is not a viable choice.

In our view, the fee is fair given the unique service blooom offers and the fact that clients have access to live advisors by email, chat, and phone.

How Are blooom 401k Portfolios Invested?

blooom analyzes your existing 401k, removes portfolio holdings that don’t align with your objectives or cost too much, and replaces funds with others that better align with your target allocation and financial aims. 

The following algorithm is applied to assess and optimize your portfolio:

  1. blooom analyzes your existing 401k and remove funds that don’t make sense.
  2. To keep fees low, blooom generally selects index funds but, every once in a while, actively-managed funds are chosen.
  3. After selecting funds that align with your target allocation, computer algorithms select investments to optimize for expense ratios and fund manager experience.
  4. Finally, blooom verifies the results and compares the new portfolio with your recommended 401(k) allocation.

Every 90 days thereafter, your portfolio is re-analyzed to ensure selections and weightings are optimal. If needed, your portfolio will be automatically rebalanced.

As you come closer to retirement, blooom will automatically modify the weighting of stocks in your portfolio to create a more conservative portfolio.

blooom App & Tools

You can link an existing 401(k) account to blooom in order to measure fees, and evaluate its composition, and allocation.

blooom makes it simple to analyze an existing 401(k).

Simply link to your existing provider after setting up your blooom account in order to view how well your current 401(k) is performing.

Hands-off investors can leave it to blooom to manage their 401(k) while self-directed investors can act on the recommendations provided.

Where blooom earns a few extra brownie points is its risk tolerance assessment.

Risk tolerance measures are factored into the sign up process using an adjustable slider that allows you to change your allocation by up to 20% either way from the suggested allocation.

blooom Pros and Cons

blooom charges a low, flat annual fee. The onboarding process is easy and it’s free to analyze your existing portfolio.  If blooom were to be docked a few points, it would be the high fee as a % of assets under management on smaller account sizes.

blooom Pros blooom Cons
Low Management Fees: blooom charges a flat annual fee starting as low as $95, which is a steal when compared to the costs charged by traditional financial advisors to manage defined contribution plans, and compares favorably to the fees charged by other robo-advisors. Large Cash Holdings: blooom structures portfolios with heavy weightings of equities which doesn’t account for the differing risk tolerance levels of clients and caters more towards risk-seeking than risk-averse investors.
Financial Advisors: Clients have access to financial advisors by email, phone and live chat during weekday business hours. Small Account Sizes Penalized: While fees are low as a % of assets under management for large account sizes, they are not insignificant for small account sizes, though still generally competitive when compared to traditional financial advisors, who often charge north of 1%.
Automatic Rebalancing: When fund weightings drift too far from the recommended allocation, blooom rebalances the portfolio. Automatic rebalancing is done every 90 days.
401(k) Assessment: blooom makes it easy to link to an existing 401(k) in order to assess whether expense ratios can be optimized and portfolio compositions can be improved.
No Account Minimums: blooom allows clients to sign up with no account balance minimum.

blooom Fees & Minimums

blooom imposes no account balance minimum, charges a low annual fee for account management and automatic rebalancing.

Category Fees
Account Management Fees $95 – $250
(annually)
Account Minimum $0
Automatic Rebalancing YES
(every 90 days)
Annual, Transfer, Closing Fees $0

blooom Account Types

blooom supports employer-sponsored plans: 401(k), 403(b), 401(a), 457 and TSP.

Type Capability
401(k) YES
403(b) YES
401(a) YES
457 YES
TSP YES

blooom Review Summary

Unlike most robo-advisors, which focus on taxable and IRA accounts, blooom is unique because it manages 401(k) plans automatically for a low yearly flat fee.

By imposing no account minimum, blooom makes it easy to get started. And by charging nothing to analyze your 401(k), there is no reason not to give it a whirl.

If you are like the average blooom client, you will experience instant fee savings and, over the life of the account, potentially save as much as $60,000.

The bottom line is if you have a defined contribution plan, like a 401(k), 403(b), or 401(a), blooom offers compelling value at a fair and flat yearly rate.

The article Fix Your 401(k) with Blooom (Review) was originally posted on Investormint

]]>
0
Is Demi Moore Net Worth $200 Million? https://investormint.com/celebrity/demi-moore-net-worth https://investormint.com/celebrity/demi-moore-net-worth#disqus_thread Fri, 28 Aug 2020 23:51:54 +0000 https://investormint.com/?p=13900 Demi Moore Net Worth is estimated at around $200 million based largely on her starring roles in blockbuster movies.

The article Is Demi Moore Net Worth $200 Million? was originally posted on Investormint

]]>
Across America and around the world, budding actors and actresses are planning new lives in Hollywood. They are sure that they can leave their humdrum hometowns and seek their fortunes in Tinsel Town.

Alas, this dream doesn’t tend to come true for a vast majority of those in search of fame. Less than one-half of one percent ever make any money in show biz.

Demi Moore was one of the select few that made it big, thanks to her good looks and her amazing talent.

At the height of her career, she starred in blockbuster movies like Ghost (1990), A Few Good Men (1992), Indecent Proposal (1993), and Disclosure (1994). When she was paid $12.5 million for her 1996 role in Striptease, she made history as the highest-paid actress of all time.

Moore continues to work in film and television, though perhaps not in the same sorts of high-profile roles. Fans want to know, what is Demi Moore’s net worth? Is she still pulling in the same sort of pay for her work, or do less visible roles come with less impressive paychecks?

Demi Moore Rise to Fame

Born Demetria Guynes, Demi Moore’s upbringing in Roswell, New Mexico, was anything but easy. Her biological father left the family before she was born, and Moore always considered her stepfather, Dan Guynes, to be her “real” father.

When she was a child, Moore had a number of serious health issues, including kidney dysfunction and a condition called strabismus. This required multiple surgeries to correct.

Moore relocated to West Hollywood with her family at the age of 15, but she moved out on her own just a year later. She dropped out of high school when she was a junior and signed with a local modeling agency. At the same time, she started taking acting classes, and she moved in with musician Freddy Moore. She contributed her songwriting skills to his band, and she still receives royalty checks for this work.

demi moore net worth

It wasn’t until 1981 that Moore’s career started to gain traction. She modeled for the cover of an adult magazine, and she was cast in her first film – a drama geared to teens by the name of Choices.

In 1982, Moore earned a role in a 3-D film called Parasite, which was particularly impressive because of how rare the technology was at the time. That led to a recurring part on the popular daytime drama General Hospital, and from there Moore’s career really took off.

>> How Much Money Does Greta Thunberg Have?

Demi Moore Movies

Many fans consider Blame It on Rio (1984) to be the movie that truly launched Demi Moore into the spotlight, but critics say that didn’t happen until St. Elmo’s Fire in 1985.

St. Elmo’s Fire, a Joel Schumacher film, put Moore on the global map. She was then cast in About Last Night (1986) with Rob Lowe, earning strong praise from film critic Roger Ebert.

That year, she starred in two additional films, One Crazy Summer and Wisdom, both of which were successful at the box office. Moore was included on Screen World’s 1986 list of Promising New Actors, and the best was yet to come.

Moore made headlines for starring in The Seventh Sign (1988), and in 1989, she was cast opposite Robert DeNiro in We’re No Angels.

From a box office perspective, her biggest success came the following year, when she and Patrick Swayze made the hit Ghost. That film grossed an impressive $505 million – far and away the most any movie made that year.

Thanks to the success of Ghost, Moore was top of the list when big parts were cast in the years that followed.

She starred in The Butcher’s Wife (1991), A Few Good Men (1992), Indecent Proposal (1993) and Disclosure (1994) – all of which debuted at number one during their opening weekends.

Moore’s ability to attract movie-goers to the theaters made it possible for her to command impressive fees, and by 1995, she was easily the highest-paid actress in Hollywood.

Unfortunately for Moore, subsequent films weren’t nearly as successful. The Scarlet Letter (1995) was particularly disappointing. Her performance in Striptease (1996) was widely panned, and the movie flopped in the United States.

The subsequent negative reviews of her performance in 1997’s GI Jane prompted Moore to take a break from showbiz. Instead, she moved to Idaho, and put all of her energy into raising her children.

In 2000, Moore signed on for Passion of Mind, and she was cast as a villain in 2003’s Charlie’s Angels: Full Throttle. In the years that followed, she acted in a number of other films, but she never again enjoyed the box-office success of the mid-90s.

Fortunately, there are plenty of fans that continue to follow all things Moore, making her the perfect choice to represent the Versace and Helena Rubinstein brands. She wrote a memoir, Inside Out, which was published in September 2019 and instantly earned the top spot on the New York Times best-sellers list.

>> How Rich Is Joe Rogan?

Demi Moore Vanity Fair Cover

Demi Moore’s career was rocked by scandal on more than one occasion.

The earliest hint that she was a risk-taker may have come with the shoot she did for an adult magazine at the age of 17. She told the magazine she was 18, and she allowed nude photographs for what she thought was an international audience.

However, some of the images made their way into the US publication, creating the first bit of buzz around perceptions of impropriety.

When Demi Moore appeared nude and seven months pregnant on the cover of Vanity Fair’s August 1991 issue, the buzz became a roar. Moore’s goal was to send a bold message to Hollywood opposing the false glitz and glamour, and that message was received loud and clear.

Though the photographs, which were taken by Annie Liebovitz, did not expose any private body parts, some thought the images were far too risque for general consumption.

Others found the images empowering, and pointed out the importance of honoring the beauty of women’s bodies, pregnant or otherwise.

Moore wasn’t phased by the drama her 1991 Vanity Fair cover caused, and she posed nude again for the magazine’s cover in August 1992.

In October 2019, Harper’s Bazaar generated quite a bit of interest when Moore posed nude at the age of 56, reminding women everywhere that age is just a number.

>> How Wealthy Is Chris Tucker?

Demi Moore TV Shows

While Demi Moore has moved between movies and television rather seamlessly, most would say that her best work in this genre was fairly recent.

Specifically, she has been praised for her recurring role in the fourth season of the Fox drama Empire.

Moore played a nurse named Claudia, who seemed to have a mysterious past. Did she turn out to be a hero or a villain? You’ll have to watch to find out.

Perhaps the most interesting twist in her return to television is that Moore’s daughter, Rumer Willis, was already a part of the show’s cast. The two were able to share a home and enjoy some family time during filming of the 2017 season.

>> Is John Krasinski Rich?

How Much is
Demi Moore’s Net Worth?

Demi Moore started modeling before she was 18, and she has been hard at work ever since.

She made history for the largest amount paid to an actress to date when she signed the contract for Striptease.

Between her film career, including both acting and producing, her roles in television, her spokesmodel work, and her book, industry experts estimate Demi Moore’s net worth to be about $150 million today.

However, that doesn’t consider her real estate investments, which may add another $50 million to that total.

>> What Is Charlie Sheen Worth?

How Demi Moore Gives Back

Demi Moore has long been a supporter of various social causes, with a particular focus on those that work to rescue and support women and children caught up in sex trafficking.

In 2009, she and her husband at the time, Ashton Kutcher, founded the DNA Foundation – a non-profit organization that fights against the sexual enslavement of children.

In 2010, Moore brought attention to CNN’s Hero of the Year, Anuradha Koirala, who started an organization with a similar mission.

Moore visited Koirala to report for CNN on location as a special contributor. That project led to Moore’s involvement in CNN’s documentary on the subject, Nepal’s Stolen Children (2011). She narrated the film, adding her insight to the enormous problem of sex trafficking worldwide.

In addition to these projects, Moore lends her name and notoriety – as well as generous financial support – to a variety of organizations.

Some of these include Healthy Child, Healthy World, UNICEF, the American Foundation for AIDS Research, Raising Malawi, Artists for Peace and Justice, and the Coalition to Abolish Slavery and Trafficking.

>> What Is The Karate Kid Worth?

Demi Moore:
Awards and Honors

Though her film career has not been centered around the sorts of artistic and big-budget films that tend to make waves at the Oscars, she has collected her fair share of awards and honors through the years. Some of these include:

  • Theatre World Award for Best Actress – 1987 
  • Saturn Award for Best Actress – 1990 
  • MTV Movie Awards for Best Kiss – 1993
  • People’s Choice Awards for Favorite Dramatic Motion Picture Actress – 1993
  • People’s Choice Awards for Favorite Dramatic Motion Picture Actress – 1993 
  • ShoWest Award for Female Star of the Year – 1995 
  • The Gracie Award for Outstanding Drama – 2012
  • The Independent Spirit Award’s Robert Altman Award – 2012

In addition, Moore has been nominated for a wide variety of prestigious awards, including the following:

  • Golden Globe Award for Best Actress – 1990
  • Golden Globe Award for Best Actress – 1996 
  • Director’s Guild of America Award for Outstanding Directing – 2011 

Demi Moore:
Husbands and Kids

Demi Moore’s family life has been as eventful as her career, with three marriages to talented artists, and three daughters who also show special talent.

Her first marriage to Freddy Moore was fairly short-lived. Their wedding took place just after Demi Moore turned 18. Freddy Moore was already 30 years old at the time.

The couple divorced in 1985, and Demi Moore was engaged to Emilio Estevez a few months later. Their wedding was planned for December 1986, but the engagement was broken off before the wedding took place.

In 1987, Moore married actor Bruce Willis, and they became the proud parents of three lovely daughters. However, Moore and Willis separated in 1998 and divorced in 2000.

Moore made headlines in 2003 when she began dating actor Ashton Kutcher – a man fifteen years younger than she was. They married in 2005, but separated in 2011, due to Kutcher’s unfaithfulness. Their divorce was finalized in 2013.

Moore remains friendly with both Willis and Kutcher, and she has been seen on the town occasionally with a date. However, her name hasn’t been seriously linked with a partner for some time, and she mentioned in several interviews that she is enjoying single life.

>> How Rich Is Scott Baio?

Demi Moore
Net Worth Summary

Moore’s career is one for Hollywood history, thanks to the big steps forward she took on behalf of women and female actresses everywhere. Thanks to Moore, women in show business are more likely to see equal pay for equal work.

Demi Moore’s net worth hovers well above $150 million, and she puts that money to good use. In addition to supporting her children in their endeavors, she is an advocate for women and children who have fallen victim to sex trafficking.

While her career has quieted down since the 1990s, Moore is by no means retired. She takes on projects of particular interest, and she has the financial freedom to turn down those that lack appeal. Fans remain loyal, and they are excited to hear about Moore’s next venture.

>> How Much Money Does David Lee Roth Have?

The article Is Demi Moore Net Worth $200 Million? was originally posted on Investormint

]]>
0
How Much Is Greta Thunberg Net Worth? https://investormint.com/celebrity/greta-thunberg-net-worth https://investormint.com/celebrity/greta-thunberg-net-worth#disqus_thread Fri, 21 Aug 2020 17:39:01 +0000 https://investormint.com/?p=13890 Greta Thunberg’s net worth may be something along the lines of upper-middle class, but that’s only because she stays true to her goal and donates awards she receives.

The article How Much Is Greta Thunberg Net Worth? was originally posted on Investormint

]]>
Greta Thunberg’s journey from average teen to the global voice of an entire generation is nothing short of extraordinary. Perhaps more remarkable is the fact that she shows no signs of slowing down.

By all accounts, her leadership skills – and her movement – are only growing. Greta Thunberg’s net worth is growing, too, and she is using all available resources in pursuit of her goal to protect the world from irreversible and deadly climate change.

Greta Thunberg Rise to Fame

Ninth grade is generally a time when students try to fit in – not stand out. Most 15-year-olds are getting settled into high school, participating in sports, spending time with friends, and starting to think about what comes next. Not so for Sweden’s Greta Thunberg.

In 2018, Thunberg launched a solo strike against climate change, skipping school to picket outside the Swedish parliament building. She carried a sign that said, “Skolstrejk för klimatet” which translates to “School Strike for Climate”, and her demands were clear. She wanted a commitment from the Swedish government to reduce emissions by 15 percent per year.

She protested alone for a day or two, but soon, she was joined by others of all ages. They continued the daily strike until the 2018 election was complete, then Thunberg launched her signature “Fridays for Future” movement. Each Friday, Thunberg continues her protest, and she has encouraged students around the world to join her. Fridays for Future took off, inspiring activists in dozens of nations.

greta thunberg net worth

Anders Hellberg / CC BY-SA (https://creativecommons.org/licenses/by-sa/4.0)

In September of 2019, Thunberg led the world in a day of action just before the United Nations Climate Action Summit. Millions of people in 161 separate countries participated, leaving work and school to march and speak out against the policies contributing to a climate crisis. It was the largest climate strike in history to date.

In less than two years, Thunberg has gone from lone student activist to the leader of a global movement. She has spoken to the United States’ Congress, the United Kingdom’s Parliament, and the United Nations, among others.

In 2019, Thunberg was nominated for the Nobel Peace Prize, and shortly after that, she was recognized as Time Magazine’s Person of the Year – the youngest person ever selected for this honor.

>> Karen Finerman Net Worth

Greta Thunberg Climate Change

Greta Thunberg is passionate about climate change, because she has studied the underlying science.

Even the policies already being considered – cutting emissions by 50 percent within ten years – leaves future generations with grim prospects.

In speech after speech, Thunberg points out that a 50 percent emissions reduction within ten years doesn’t guarantee that global warming will stay under the 1.5 degrees Celsius goal. If successful, scientists give this plan a 50 percent chance of success.

She frequently points out that the predicted 50 percent chance of success may be too optimistic, as there are a host of factors not included in this calculation. Even a minor increase in global temperatures could set off a chain reaction that can’t be stopped.

Thunberg admits that she is terrified of the consequences of a rise in average temperatures, and she is stunned and horrified that lawmakers in a position to effect change are failing to act.

She notes that this failure may leave her generation and those that follow with a planet that is all but uninhabitable. At the very least, lives and livelihoods will be lost, forcing millions or billions into deep, unrelenting poverty.

>> Emma Stone Net Worth

Greta Thunberg Speeches

Thunberg’s ability to inspire and motivate is, perhaps, her biggest gift.

While climate change is of great concern to large portions of the world population, many are uncertain about how to take effective action. Thunberg is a passionate speaker, and her words have prompted people from all walks of life to make protecting the climate a top priority.

Some of Thunberg’s most memorable speeches include the following:

Climate March, Stockholm, September 13, 2018

To all of you who choose to look the other way every day because you seem more frightened of the changes that can prevent catastrophic climate change than the catastrophic climate change itself.

Your silence is almost worst of all.

The future of all the coming generations rests on your shoulders.

European Parliament, Strasbourg, April 16, 2019

My name is Greta Thunberg. I am 16 years old. I come from Sweden and I want you to panic. I want you to act as if your house was on fire.

U.S. Congress, Washington DC, September 18, 2019

And yet, wherever I go I seem to be surrounded by fairytales. Business leaders, elected officials all across the political spectrum spending their time making up and telling bedtime stories that soothe us, that make us go back to sleep.

UN Climate Summit, New York City, 23 September 2019

This is all wrong. I shouldn’t be up here. I should be back in school on the other side of the ocean. Yet you all come to us young people for hope. How dare you!

You have stolen my dreams and my childhood with your empty words. And yet I’m one of the lucky ones. People are suffering. People are dying. Entire ecosystems are collapsing. We are in the beginning of a mass extinction, and all you can talk about is money and fairy tales of eternal economic growth. How dare you!

…You are failing us. But the young people are starting to understand your betrayal. The eyes of all future generations are upon you. And if you choose to fail us, I say: We will never forgive you.

We will not let you get away with this. Right here, right now is where we draw the line. The world is waking up. And change is coming, whether you like it or not.

Thunberg doesn’t pull her punches. She is firm and direct as she reviews the science, outlines the potential consequences of inaction, and puts the people in power on notice that they will be held accountable for their decisions in this critical time.

>> Becky Quick Net Worth

Greta Thunberg:
Time Person of the Year

Time Magazine has been a media staple since its first issue, which hit newsstands on March 3, 1923. In early 1928, on a whim, editors decided to release a Man of the Year issue, which would feature their pick of the person who had been most influential, for better or worse, in the previous 12 months.

The first Man of the Year was Charles Lindbergh, the national hero who flew solo across the Atlantic Ocean in 33 hours and 39 minutes.

In 1937, the magazine featured its first Woman of the Year, honoring Wallis Simpson – the divorcee who prompted Prince Edward to abdicate his throne.

In 1999, Time renamed the award to the more gender-neutral Person of the Year. Other honorees have included Bill Clinton, George W. Bush, Barack Obama, the Peacemakers of 1993, AIDS researcher David Ho, The Whistleblowers of 2002, and the The Silence Breakers of 2017.

In 2019, Greta Thunberg joined that distinguished list as the youngest person ever to be named a Time Magazine Person of the Year. 

For the editors who made the final selection, the choice was simple. They knew that the true influencers of 2019 were not the men and women leading massive organizations or entire nations. They said of the choice to nominate Thunberg:

But in this moment when so many traditional institutions seem to be failing us, amid staggering inequality and social upheaval and political paralysis, we are seeing new kinds of influence take hold. It is wielded by people like Thunberg, leaders with a cause and a phone who don’t fit the old rubrics but who connect with us in ways that institutions can’t and perhaps never could.

The article describing Thunberg is compelling. It doesn’t use glowing terms to flatter her, and it is, in fact, focused on how normal her life was before her rise to fame.

It is clear that Thunberg was selected as Person of the Year, because of the extraordinary courage she demonstrated by leaving her comfortable life to change the world.

>> How Much Does Charlotte Casiraghi Worth?

Greta Thunberg Awards and Honors

Since 2018, Greta Thunberg has been nominated and selected for some of the world’s most prestigious awards, and the list continues to grow. Some notable honors include:

  • Time Magazine’s 25 Most Influential Teens – 2018
  • Nobel Peace Prize Nomination – 2019
  • Swedish Woman of the Year – 2019
  • Rachel Carson Prize – 2019
  • Fritt Ord Award celebrating Freedom of Speech – 2019
  • Time Magazine’s 100 Most Influential People – 2019
  • Laudato si’ Prize, awarded under Pope Francis – 2019
  • Amnesty International’s Ambassador of Conscience Award – 2019
  • The Geddes Environmental Medal – 2019
  • Right Livelihood Award – 2019
  • International Children’s Peace Prize – 2019
  • Nordic Council Environment Prize – 2019
  • Time Magazine’s Person of the Year – 2019
  • Glamour Magazine’s Woman of the Year – 2019
  • Forbes Magazine’s List of the World’s 100 Most Powerful Women – 2019
  • Human Act Award – 2020
  • Gulbenkian Prize for Humanity – 2020

It’s important to note that Thunberg has made it clear she is not interested in achieving fame and fortune through her activism.

She will not travel in person to accept awards, even if that means she must forfeit them, if travel contributes to her carbon footprint.

More than that, she firmly declined the Nordic Council Environment Prize in October 2019 – along with the substantial cash award – because, she said, Nordic countries are not taking decisive action to cut carbon emissions.

>> Jennifer Lawrence Net Worth

How Much is
Greta Thunberg’s Net Worth?

Given the value of the many cash prizes Thunberg has been awarded, many have speculated that she must be a millionaire. While her financial details have not been made public, it appears that those speculations are flat out wrong.

One of the most remarkable things about Thunberg is her consistency when it comes to living her values. The cash prizes that come along with winning prestigious awards are distributed to environmental groups hard at work on combating climate change. She does this through her non-profit organization, The Greta Thunberg Foundation, which she founded with the 1 million Swedish Krona ($102,062) she received when she won the Right Livelihood Award in December 2019.

When Thunberg was awarded $1.15 million with the 2020 Gulbenkian Prize for Humanity, she quickly pledged every penny to the organizations on the front lines of climate change. 

She has already announced a donation of $231,000 to the SOS Amazonia campaign and the Stop Ecocide Foundation.

>> What Is Hayden Panettiere Worth?

The Greta Effect

On July 21st, Thunberg appeared as a guest on Steven Colbert’s The Late Show to further her message. However, the most important comment she made wasn’t specific to climate change. When describing the launch of her School Strike for Climate, she said:

I didn’t have any expectations at all. I just thought I needed to do something. It is my moral duty as a human being to do anything. I just thought I would do something and started school striking. And then it exploded from there.

It’s a reminder to anyone who has ever seen an overwhelming problem and felt too small to make a difference – change starts with small steps and individual voices. Eventually, those individual voices combine to become a roar that can’t be ignored.

This concept has come to be known as the Greta Effect, which references the transformation of climate action.

The Greta Effect is credited with bringing people of all ages together to combat a global issue, and many consider it the catalyst that took activism online.

The number of carbon-reduction projects has grown exponentially around the world, spurred on by the philosophy that each person, each social media post, and each incremental reduction in carbon emissions is critical to keeping the planet habitable for future generations.

>> AOC Net Worth

Greta Thunberg: Net Worth Summary

Greta Thunberg’s net worth may be something along the lines of upper-middle class, but that’s only because she stays true to her goal. She passes up opportunities for personal financial gain in favor of contributing to the organizations that are making a direct impact on climate change.

In the words of Time writers Charlotte Alter, Suyin Haynes, and Justin Woland:

She is an ordinary teenage girl who, in summoning the courage to speak truth to power, became the icon of a generation.

>> David Blaine Net Worth

 

The article How Much Is Greta Thunberg Net Worth? was originally posted on Investormint

]]>
0
Lemonade Insurance Stock: Buy or Sell https://investormint.com/investing/lemonade-insurance-stock-buy-or-sell https://investormint.com/investing/lemonade-insurance-stock-buy-or-sell#disqus_thread Sun, 02 Aug 2020 08:43:28 +0000 https://investormint.com/?p=13882 Lemonade stock has roared higher since its IPO based on the company’s disruptive business model that is generally priced below competitors.

The article Lemonade Insurance Stock: Buy or Sell was originally posted on Investormint

]]>
LEMONADE INSURANCE SPOTLIGHT
lemonade insurance logo

InvestorMint Rating

4.5 out of 5 stars

  • Homeowners & Renters Insurance: YES
  • Flat-Fee Revenue Model: YES
  • Donates Leftover Premiums To Causes: YES

via Lemonade secure site

Traditional insurance is widely considered a necessary evil. Companies like State Farm, Allstate, and Liberty Mutual amass large profits through collecting premiums, paying out claims, and keeping the difference.

They also invest the money that comes in from premiums before it is paid out for claims, generating substantial returns.

It’s a lucrative system. The three homeowner’s insurance companies mentioned generated the following net income in 2019:

  • State Farm – $5.6 billion
  • Allstate – $3.5 billion
  • Liberty Mutual – $1.045 billion

However, this business model isn’t designed to benefit consumers. The companies only make money when they charge high premiums and keep claim payouts low – or, at the very least, delay payouts as long as possible.

As a result, insurance clients often complain that their premiums are excessive, or that the companies are slow to pay out claims – assuming they don’t deny the claims altogether.

Though many consumers are frustrated with the current system of homeowner’s and renter’s insurance, there simply haven’t been any alternatives. Until now.

Lemonade has developed a new model for homeowner’s and renter’s insurance, and it threatens to turn the entire industry upside-down. The company is disrupting the insurance market, and investors have been quick to buy in since its July 2020 initial public offering (IPO).

Of course, not everyone is willing to take on the risk of a new tech company. Some investors are hanging back to watch before purchasing shares. Is Lemonade stock worth buying now, or are the more cautious investors right to wait and see?

What is Lemonade Insurance?

Lemonade is a recent addition to the blossoming insurtech industry – a group of companies disrupting business as usual in the insurance world through advanced technology. The Lemonade platform relies heavily on artificial intelligence, which means it can sell policies and process claims in minutes.

For now, Lemonade is selling renter’s insurance and homeowner’s insurance, as well as the recently-added pet insurance. The company has driven down premium prices and uses a subscription-style model for payments, resulting in significant savings for customers.

Traditional renter’s insurance premiums can be $150 or more per year, and homeowner’s policies from those same companies are typically over $900 per year.

Lemonade’s renter’s insurance policies start at $5 per month, totalling $60 per year, and homeowner’s policies start at $25 per month, totalling $300 per year. 

Lemonade has made its biggest inroads with Millennials, who are already comfortable with managing their finances online. These are the digital natives who don’t remember a time before computers were integrated into school and work, and they were the first to fully embrace the digital lifestyle that is so deeply ingrained today.

lemonade insurance stock

Millennials are the consumers who made online banking and self-directed online brokerage accounts popular, and they are driving the many app-based services that have cropped up in recent years – ridesharing, grocery delivery, and smart home management, to name a few.

In some ways, it’s surprising that a service like Lemonade didn’t launch sooner, as it shares the features and benefits that Millennials have leaned into again and again.

>> How To Research Stocks

Why Is Lemonade Insurance So Popular?

In addition to the low price and the ease of purchasing policies and submitting claims, Lemonade is popular for its philanthropic principles. The company was set up as a public benefit corporation, which changes the perspective of business leaders as they make decisions about operations, distribution of profits, and similar.

Instead of the standard corporate focus of delivering value to shareholders, Lemonade has a legal obligation to consider social implications in decision-making.

One of the most compelling illustrations of Lemonade’s public benefit perspective is the contributions it makes to nonprofit organizations.

While traditional insurance companies generate profit through the difference between premiums collected and claims paid, Lemonade relies on other methods of creating value for shareholders. The spread between premiums and claims is donated to charities selected by its clients.

As the founders developed Lemonade’s business model, they considered how this move might change customer behavior. The company believes that clients are less likely to submit unnecessary or exaggerated claims when they know that they aren’t hurting a faceless corporation – they are hurting the nonprofits that would otherwise benefit from the funds.

The altruistic component of Lemonade’s model plays well among Millennial consumers, and it is likely to attract the generation that follows.

As a group, this demographic has demonstrated the priority they place on upholding values and focusing on social causes in every aspect of their lives, from where they work to which organizations they patronize.

>> How To Make Money Renting Your Home

Lemonade IPO Was A Hit

Lemonade was founded in 2016 and raised new capital several times in the three years that followed. Its earliest backers included investors like Aleph, Sequoia Capital, Google Ventures (GV), Thrive Capital, and Sound Ventures. The company held its IPO on July 2, 2020, pricing shares at $29.

The IPO was a resounding success, with shares trading at $50.06 by the end of the day. Investors immediately saw the potential in a company that simplifies a product nearly everyone needs, then sells it at a rate far lower than its competitors.

It helped that Lemonade has received a lot of positive press from business experts and analysts before shares were available to the public.

For example, Lemonade was ranked number 17 on CNBC’s 2020 list of Disruptor 50 Companies, which put it directly in the spotlight as far as companies to watch.

>> How To Buy Impossible Foods Stock

Is Lemonade Stock Going to Fall?

In just a few weeks, Lemonade stock has already put early investors through a roller coaster of ups and downs. After a day of trading, share prices were up by 138 percent, then a week later, they dropped 13 percent. Another two days and shareholders saw a 7 percent increase.

Perhaps the most unnerving part for investors without a lot of IPO experience is the fact that these ups and downs aren’t linked to any news from the company.

When companies go through the IPO process, they observe a quiet period for 40 days after the stock begins trading, and no new information is released. That means the share price volatility is essentially based on investor sentiment, which tends to be fluid for the first few months of trading.

In other words, Lemonade stock is likely to fall again, and it may be impossible to predict when and how much.

More than that, even the most experienced analysts can only theorize why the price drops occurred after the fact.

This is all part of the IPO experience, and it is generally nothing to worry about. As the company begins to build a history, stock prices will settle down a bit.

>> What Are The Different Types Of Stocks?

Is Lemonade Stock a Good Buy?

Any investment carries risks, and insurtech certainly has its share. Given the volatility inherent in the early days of trading a new stock, Lemonade isn’t right for everyone at the moment.

With that said, those who are comfortable with uncertainty and can manage the highs and lows that come with the first few months of any IPO, Lemonade stock is a good buy.

In fact, if all goes according to the company’s plan, it may never be a better buy than it is right now.

Consider the advantages Lemonade has over its peers:

  • An astonishing 94 percent of workers surveyed by Glassdoor said they would recommend working at Lemonade to a friend.
  • A full 97 percent of respondents approve of Lemonade’s CEO.

These two elements are critical indicators of a strong company culture, which bodes well for the company’s success.

From a financial perspective:

  • In 2019, year-over-year revenue growth topped 201 percent, totalling $63.8 million.
  • Through its use of artificial intelligence, chatbots, and other advanced technology, Lemonade expects to serve 2,000 customers per employee. Compare that to the 150 to 450 customers per employee of Lemonade’s biggest competitors. Greater efficiency tends to generate bigger profits over time.

Granted, Lemonade isn’t showing a profit yet. In fact, 2019 generated a massive loss of $109 million.

However, when you consider the sales, marketing, and technology expenses involved in establishing any new company, much less a disruptive financial services company, there is every reason to believe that profitability will come as the company gains momentum with consumers.

In short, those that can handle some early uncertainty may want to add Lemonade to their portfolios now. Some industry experts believe share prices have nowhere to go but up.

>> How To Buy Enterprise Stock

Alternatives to Buying Lemonade Stock

For those who aren’t quite ready to trust their hard-earned cash to an untested startup, there are alternatives.

First, you may wish to consider traditional insurance companies, which are still doing quite well.

If Lemonade succeeds in dramatically transforming the industry, it will happen over time, giving those who hold shares of traditional insurers enough notice to reconsider their choices.

These are three of the top-performing insurance stocks:

  • MetLife – Simple business model, reliable history of solid returns, and impressive dividends
  • UnitedHealth – Market leadership, shareholder-friendly management, and dividends that increase regularly
  • Markel – Handles niche clients, generates solid underwriting profits, and gets creative with investments

If investing in an insurance company isn’t quite what you had in mind, you may wish to examine opportunities available from other, more established tech disruptors.

  • Dropbox – Increasing revenues and an expanding customer base are projected to generate approximately 23 percent growth in profits for 2020
  • PayPal – A widening international presence promises impressive results for 2020 and 2021 – revenue growth predictions estimate 15 percent per year
  • Amazon – Rising interest in e-commerce and delivery-based services has analysts projecting 18.5 percent revenue growth and 30.7 percent earnings growth this year

These companies may lack some of the excitement of a start-up’s early days, but they are still a long way from settling into a rut. Investors who choose one or more of these alternatives have a lot to look forward to.

>> How To Buy Subway Stock

The Bottom Line: Is Lemonade Stock Worth Buying?

Lemonade has generated significant interest in a fascinating model that will upend the insurance industry – assuming it catches on. At the moment, there is every reason to believe it will.

However, as with any tech startup – and really any stock purchase at all – there are no guarantees. Any one of a hundred things could go wrong, leaving shareholders with substantial losses.

The question of whether to buy boils down to your financial goals and your tolerance for risk.

If you can afford to take a chance on a promising tech startup, this one is a good bet. If you have minimal room for error, a more established company with a history of success and the tools and resources necessary to ensure a strong future might be a better option.

>> How Old Do You Have To Be To Invest?

 

The article Lemonade Insurance Stock: Buy or Sell was originally posted on Investormint

]]>
0
Pros and Cons Of Investing In Condos https://investormint.com/real-estate/pros-cons-investing-condos https://investormint.com/real-estate/pros-cons-investing-condos#disqus_thread Wed, 22 Jul 2020 19:23:42 +0000 https://investormint.com/?p=13870 The cost to invest is lower vs single family homes but more research is required such as HOA fees, legal risks, and tenant types.

The article Pros and Cons Of Investing In Condos was originally posted on Investormint

]]>
Buying a home is a huge financial step. For some, it feels like a rite of passage, marking the transition from young adulthood to a more settled and established lifestyle. For others, it’s an important way to grow wealth. After all, building equity is more financially satisfying than paying rent.

However, many would-be real estate investors find that a single family property isn’t practical or possible. Sometimes, financial challenges put such a property out of reach, and other times, there simply aren’t such homes available in the neighborhood of choice.

It’s also worth noting that the responsibilities of caring for a single family home aren’t right for everyone, whether it’s a primary residence or a rental property. Under any of those circumstances, it’s time to weigh the pros and cons of investing in condos.

Is Investing in Condos
a Good Idea?

Whether you are planning to live in the property or rent it out, there are significant advantages to investing in condos over traditional single-family homes. By definition, you are purchasing a unit within a larger building.

Condos are available in all sorts of structures, from small two or three family houses to high rises with dozens – even hundreds – of apartments.

Another way to own a small portion of an apartment building with hundreds of units is to invest passively via an online real estate platform, such as Fundrise.

FUNDRISE SPOTLIGHT

fundrise logo

InvestorMint Rating

4.5 out of 5 stars

  • Minimum Investment: $500
  • Returns: 11.44% (net of fees)

via Fundrise secure site

Because you own a single unit within a larger building, you don’t have to worry about most of the maintenance and repairs required to keep the place sound.

Security, landscaping, building-wide water, electricity, and so forth are all managed by the condo association or property manager.

Your responsibility begins and ends within the walls of your unit.

>> 17 Ways To Live Rent Free

Is A Condo Right For You?

That’s good news for those who lack the time necessary to deal with the chores that take over entire weekends when you own a single family home. No more shoveling snow, raking leaves, or mowing the lawn.

However, keep in mind that you will pay for this convenience. Condos come with monthly dues or fees, which are placed in a fund for maintenance and repairs. For some, these fees, when added to monthly mortgage payments, are more costly than purchasing a single-family home.

With that said, delegating maintenance and repairs only works if the building has effective management. In far too many cases, repair and maintenance accounts are woefully underfunded, which means issues are neglected or owners must pay special assessments when repairs come up.

The convenience of condo living may be of interest to couples and families, but condos are most popular among singles, couples just starting out, older people who are downsizing, those who are away from home frequently.

These groups don’t need the sort of space that kids require, and they appreciate the convenience of delegating repairs and maintenance to others. If you are planning to rent the condo, these sorts of people will be your target audience.

>> What Are Qualified Opportunity Zones?

Do Condos Appreciate in Value?

Whether you plan to live in the condo or rely on it for rental income, appreciation in the value of the property is an important consideration when deciding to invest.

Historically, condos have not appreciated in value as quickly as detached single-family homes, but they certainly haven’t been stagnant.

Research from the real estate site Zillow demonstrates that the average appreciation of condos over the past ten years totalled approximately 42 percent. That’s a solid return on investment for those who bought condos in 2010.

Is a Condo a Bad Investment?

Buying a condo is like any investment, real estate or otherwise. Building value and generating profit has more to do with the quality of the specific condo you purchase – not the category of real estate you choose.

Condos in undesirable locations, poorly maintained buildings, excessive fees and assessments, and poor management will inevitably turn into bad investments.

Condos that are located in popular neighborhoods, close to amenities, in attractive, well-maintained, and well-managed  buildings may generate a profit. 

When and how much depends on the same factors that impact real estate across the board, including interest rates, demand, the local economy, and conditions in the larger economy.

>> What Is Turnkey Real Estate Investing?

Can You Make Money
Renting Condos?

The short answer is that you can make money renting condos. Because they tend to be less expensive, you can own more properties for the same initial cash outlay, which drives up profit potential.

However, condos come with a long list of complications that don’t necessarily apply to detached single and multi-family buildings. In particular, you are subject to condo association rules, and you are not necessarily in control of whether and how much money is spent on building expenses.

When you choose a popular location, and the specific unit is in a building that meets high standards for financial management, you can realize significant profits from rental payments, in addition to the unit’s appreciation over time.

>> How To Be A Real Estate Investor

How To Make Money
Renting Condos

If your goal is to make money renting condos, the most critical work occurs long before your first tenant moves in. The research you do before you buy can mean the difference between monthly profits or on-going losses.

inside city condo

First, consider why potential tenants choose apartment living. Some want short-term rentals in vacation spots as an alternative to hotels. Others want an urban lifestyle. Their goal is to live in the middle of the action, close to shopping, dining, entertainment, and work. Certainly, these aren’t the only reasons someone might rent your condo, but these two types of rental properties tend to be the most lucrative.

If you plan to cater to the vacation crowd, explore properties within a reasonable distance to main attractions. Obviously, the closer you get to beaches, theme parks, ski facilities, and golf courses, the better, but you can still command impressive rental income when a short drive is required.

If your goal is to invest in condos that offer an urban lifestyle, focus on access to public transportation, as well as distance to business centers, grocery stores, pharmacies, and other critical services. 

Your condo will become a hot commodity if these are in walking distance. It’s also worth watching development plans in your target area. When large companies build new office parks to centralize operations, it’s a smart bet that any housing in the area will increase in value.

Another possibility is to invest in an online real estate crowdfunding platform such as RealtyShares.

REALTYSHARES SPOTLIGHT

realtyshares logo

InvestorMint Rating

4 out of 5 stars

  • Minimum Investment: $5,000
  • Investment Length: 6 months to 10 years
  • Fees: 1-2%

via RealtyShares secure site

Research The Unit,
Building & Management

Once you have a list of potential properties in the appropriate area, do a deep dive into the unit, the building, and the building’s management. This is far more extensive than the sort of inspections you do for a single-family home.

In this case, you are examining the costs associated with bringing the unit up to your standards, the potential need for repairs within the unit, and the condition of the larger building – in particular, whether you might be tapped for special assessments to make large repairs.

Finally, take a close look at the condo association agreement, and speak with members of management to ensure you clearly understand your rights and responsibilities.

Among other things, many agreements don’t permit you to rent your condo out, which is a deal-breaker.

Other rules and regulations of concern may relate to whether and how pets, shared spaces, visitors, parking, and amenities are handled.

>> Is Roofstock Right For You?

Pay Close Attention To HOA Fees

Gain a clear understanding of the condo association fees, and make sure you know what the fees are for.

At minimum, by paying the fees, you should be covered for exterior and common space maintenance, security, building utilities like water, sewer, and trash, homeowner’s insurance for the exterior and common areas, and a reserve fund that can be tapped for the sorts of expenses that come up from time to time – roofing repairs, replacing water heaters, and similar.

Inquire about the history of condo fees in this building.

  • Do they tend to go up regularly, or have they remained level for some time? 
  • Are there plans to increase these fees in the near future? 
  • Have there been any recent special assessments? 
  • Are any assessments planned for coming projects? 
  • Is the current reserve fund robust, or will any unexpected expenses require a special assessment? 

All of this information should be contained in standard financial records – if you can’t get the details, this might not be the right investment property for you.

>> Realty Mogul Review

Find Out If Legal Risks Exist

Ask the condo association management about pending litigation, and look at whether the building has a comprehensive liability policy.

While an occasional legal dispute may come up in any building, large legal expenses will impact your monthly fees, and a history of legal claims typically indicates issues within the building’s management – and perhaps the larger community.

Finally, ask whether association meeting minutes are available to you. If so, you can get a clear picture of the types of issues that come up within the building, the sort of requests brought before the board, and whether those requests are approved or denied.

If you aren’t given access to meeting minutes, consider whether that lack of transparency is a cause for concern.

If you get to this point and all signs look promising, it might be time to buy. It goes without saying that you should negotiate for the best possible price and get the best possible rate on your financing to maximize your returns.

When the deal closes, make the sort of repairs and updates that will ensure your property appeals to potential tenants.

You can then attract applicants through do-it-yourself methods such as online advertising in appropriate forums, or hire a management company to select and screen tenants.

>> Best Real Estate Investing Websites

Pros and Cons of
Investing in Condos

There are plenty of pros when it comes to investing in condos – less maintenance, fewer repairs, and lower purchase price, in particular  – but there are certainly some cons, as well.

From a lifestyle perspective, residents must be comfortable with apartment-style living. Typically, condos share walls, ceilings, and/or floors with neighbors, which means less privacy and a greater chance of living with the sounds of other people going about their business. That can be a problem for those who are easily frustrated by others’ music, guests, and similar.

You must also consider all the complications that come with sharing management decisions.

There is typically a condo board or association that handles the finances, arranges for repairs and maintenance, and so forth.

When these boards and associations are well-run by strong, organized members, you have nothing to worry about. Unfortunately, that’s not always the case.

Condo associations and boards are not immune to differences of opinion, personality conflicts, and other standard issues that come up in work groups. If the board is dysfunctional, you may find yourself spending an excessive amount of time managing conflict and advocating for important repairs, maintenance, and improvements within the group.

As with any investment, you must carefully assess the pros and cons of investing in condos before making a financial commitment.

The right purchase in the right location at the right time can generate significant returns, but an error in when, where, and how much you pay for a condo can lead to losses.

>> How Real Estate Market Cycles Work

The article Pros and Cons Of Investing In Condos was originally posted on Investormint

]]>
0
SoFi Personal Loan Review 2020 – Get $5,000 to $100,000 Fast https://investormint.com/loans/sofi-personal-loan-review https://investormint.com/loans/sofi-personal-loan-review#disqus_thread Wed, 15 Jul 2020 21:02:48 +0000 https://investormint.com/?p=4667 SoFi Personal Loans Review: Borrowers with excellent credit histories can get fixed or variable rate loans starting at 5.19% with autopay.

The article SoFi Personal Loan Review 2020 – Get $5,000 to $100,000 Fast was originally posted on Investormint

]]>
sofi loans review

SoFi Personal Loan Review: Got excellent credit or high potential to earn? A SoFi personal loan may be right for you.

SoFi aims to lend to HENRYs, a term is uses to define borrowers who are High Earners Not Rich Yet. If you just graduated from an Ivy League school or plan to be a doctor or lawyer, SoFi may be an excellent alternative to other lenders.

The company offers competitive rates to borrowers with good credit. You don’t need to have a huge income yet, but you probably will need to have the potential to earn a lot in the future.

If something goes wrong during the payback period, SoFi offers forbearance and tons of other benefits to the lucky ones who qualify. To see why this lender earns top ratings, you’ll want to read this SoFi personal loan review.

SoFi Personal Loans: Spotlight

SOFI PERSONAL LOANS SPOTLIGHT

sofi logo 2019

InvestorMint Rating

5 out of 5 stars

  • Origination Fees: Zero
  • Typical APR: 5.99% → 16.49% (*Autopay)
  • Loan Amounts: $5,000 → $100,000

via Sofi secure site

Why Choose SoFi Personal Loans?

SoFi Personal Loans provides loan amounts between $5,000 and $100,000 that you can use for practically anything, including medical expenses, home improvements, and debt consolidation.

Before you accept money from SoFi Personal Loans, though, you should learn about some of the company’s features to help you decide whether it has the right services for you.

You Have an Excellent Credit Score

SoFi personal loans only accepts loan applications from people with credit scores of at least 680.

If you are on the hunt for a personal loan and have a good credit history, SoFi is well worth checking out.

You Earn a High Income

Most of SoFi’s borrowers earn about $100,000 per year.

Loan eligibility also depends on a number of additional factors, such as a responsible financial history, credit score, your monthly income vs. expenses, and professional experience.

SoFi Offers Affordable Rates

If you have excellent credit, then you can get a fixed interest rate as low as 5.99%. Without excellent credit, you may have to pay a fixed interest rate up to 16.49%.

Borrowers willing to accept variable rates may pay as little as 5.74%. Variable rates from SoFi can jump to 14.6%, so you take a risk when you choose this option.

SoFi Gives You Unemployment Protection

Losing your job can make it impossible for you to repay loans. SoFi helps you avoid late fees by letting you apply for forbearance.

You can qualify for up to 12 months of forbearance, but you need to reapply every 3 months.

You Get Flexible Payment Options

SoFi lets you change your payment date at any time. If you know that you can’t make a payment by its deadline, just change the date.

Also, SoFi won’t charge overdraft or missed-payment fees.

You Can Make Money by Referring SoFi

You can earn up to $6,000 by sharing SoFi with the people you know. When someone takes a loan after using your unique link, you make $300. The new borrower also gets rewarded with $100.

SoFi personal loans tends to work best for people with excellent credit scores and high incomes. The company offers so many benefits that it makes sense for you to apply for a loan even if you barely meet its requirements.

You Join An Exclusive Community

Borrowers get access to low rates and an active community of like-minded individuals.

When you borrow with SoFi, you get much more than a loan, you will feel like you’ve joined an exclusive community of go-getters.

Where SoFi stands apart from most lenders is by combining a sense of community with lending.

What traditional lender promotes a collaborative community? It’s hard to think of any yet SoFi has successfully built a vibrant, engaged community of borrowers.

sofi facebook community

Borrowers and SoFi staff correspond regularly on topics that range from SoFi loans to personal finance.

SoFi members frequently post questions and answers about lending rates and taxes, as well as personal stories about paying off debt that can inspire others.

And SoFi doesn’t just foster an online presence. The offline social networking opportunities at SoFi are impressive too.

Borrowers are invited to private dinners where they can meet other community members. SoFi hosts regular events to educate members on financial matters, such as buying a new home, as well as regular fun events, like attending a ballgame.

From our research, borrowers are so pleased with SoFi that some even complain when they don’t receive swag such as SoFi-branded t-shirts and caps as fast as they expected. What other lender has borrowers clamoring to promote them by wearing their brands on t-shirts and caps as they go about their day-to-day lives?

And that’s all in addition to competitive rates that few rivals can offer. Personal lending rates are generally much higher than the typical APR charged by SoFi.

SoFi Personal Loan Amounts
Loan Amount Range $5,000 → $100,000
Fixed Rate APR Range 6.79% → 15.49%*
Origination Fees 0
Loan Duration 2 → 7
(years)
Funding Timeline 7 days
(approximately)

*with AutoPay

How SoFi Personal Loans Work

SoFi looks beyond traditional risk measures to evaluate whether you are a good fit for a personal loan. If you graduated from a top University and have a promising career trajectory, you stand a better chance of being approved than if you meet national averages for income and education.

Unlike an old school lender that may look narrowly at your FICO® Score when making a decision to approve you, SoFi pays close attention to where you went to school as well as to your income level.

Borrower default rates by applicants who graduated from top tier schools tend to be lower than those who graduated from online universities, and so the chances of receiving approval increases if you earned a degree from say a school like Harvard or Stanford.

Like other lenders, SoFi will evaluate your income and place of work before issuing you a fixed loan rate which can start as low as 6.79% with auto-pay and rises up to 15.49% with AutoPay.

As you might expect, SoFi is stringent about documentation and will ask for proof of income and may even require proof of graduation.

Once approved, you can set up disbursement details and sign acceptance documents online.

SoFi Interest Rates & Fees

SoFi personal loans can be fixed rate or variable rate loans starting at Libor rates plus margin of 1.47%.

Loan Amount
Fixed Rates 6.79% (with autopay) → 15.49% (with autopay)
Origination Fees $0
Prepayment Fees $0
Late Fees
(after 15 day grace period)
4% of payment due or $5
(whichever is lower)
Personal-check Processing Fees $0

SoFi Review: How Does It Compare?

SoFi has little competition but CommonBond and Earnest when it comes to student lending.

Few lenders compete in the same league as SoFi. While most lenders cast a wide net, inviting borrowers with a range of credit histories to apply, and then charging high rates to high-risk borrowers, SoFi targets super-prime borrowers who are very unlikely to default.

CommonBond, LightStream, and Earnest are among the very few competitors that SoFi faces when it comes to student lending but SoFi is rare in providing personal loans too.

Like SoFi, CommonBond promotes a community feel too. LightStream differs because it requires a longer credit history than SoFi, who is willing to take a risk on a borrower with shorter credit history if they have a solid career trajectory and earning potential.

Personal loan rates at LightStream also vary based on the use of the loan, whether kitchen remodeling, buying a boat, or consolidating debt.

Earnest is willing to lend to borrowers who don’t have much of a credit history, charges no fees, and also has flexible payment terms.

SoFi Personal Loans Pros and Cons

SoFi charges no hidden fees, offers low rates for personal loans, and has a fast application process, though you will generally need to have above average income and very low risk of default to be approved.

SoFi Pros SoFi Cons
Low Rates: Personal loan fixed rates start at 6.79%. Limited Approvals: Borrowers with great credit and above average income stand a higher chance of approval.
Autopay Interest Rate Deduction: Borrowers who sign up for autopay receive a 0.50% annual discount.
Fast Application Process: You can get approved in as fast as 7 days.
Community Perks: Career advice, community dinners and events, and online community forums are among the perks available.
Personal Loan Amount Range: $5,000 → $100,000.
No Origination Fees & Prepayment Fees: You won’t pay any origination or prepayment fees with SoFi but late fees do incur penalty charges.
C0-borrower Support: SoFi permits co-signers on personal loans.

SoFi Personal Loan Review

When it comes to personal loans, SoFi is about as good as it gets.

Low rates, no hidden fees, and a loyal community of borrowers who are eager to share information and meet up both offline and online are just a handful of the many benefits.

Borrowers will be put through the hoops so-to-speak to make sure they qualify for what feels like an exclusive community who made it into the inner circle.

If you don’t have an income approaching $100,000, excellent credit, and a solid educational and career pedigree you might find it a struggle to get approved by SoFi, but if you get past the high hurdle of acceptance, you’ll be spoiled with invites to events that improve your financial knowledge and may even be invited to events that co-founders attend from time to time. Where else can customers meet the founders of billion dollar companies in an exclusive setting?

The bottom line is getting approved for a SoFi personal loan isn’t a slam dunk but for those who qualify, the rates, low fees, and perks are hard to beat. And it doesn’t hurt that the application process is online and fast so you can get access to funds quickly.

The article SoFi Personal Loan Review 2020 – Get $5,000 to $100,000 Fast was originally posted on Investormint

]]>
0
AskFinny Review – Money Guides For Your Finances https://investormint.com/investing/askfinny-review https://investormint.com/investing/askfinny-review#disqus_thread Mon, 13 Jul 2020 16:20:32 +0000 https://investormint.com/?p=13854 AskFinny breaks complex financial concepts down to the basics and eliminates jargon with clear, accessible financial education, coaching, and tools.

The article AskFinny Review – Money Guides For Your Finances was originally posted on Investormint

]]>
It’s an unfortunate truth that a majority of Americans struggle with financial planning. According to research from Gallup, just 32 percent of households have a budget, and only 30 percent have a long-term financial plan.

When it comes to emergency savings, 19 percent of Americans have nothing at all set aside, and 31 percent have $500 or less in savings. 

More than 75 percent of the American workforce reports living paycheck to paycheck and struggling to make ends meet. Nearly half say they are “concerned, anxious or fearful” about the present state of their finances.

ASKFINNY SPOTLIGHT

InvestorMint Rating

5 out of 5 stars

  • Manage Your Finance & Budgets
  • Analyze Investments (Stocks & Funds)
  • $99 Yearly

via AskFinny secure site

Approximately 55 percent of Americans own stock, including stock held in retirement savings plans like IRAs and 401ks. However, the percentage of Americans who own investment portfolios outside of their retirement plans is far lower.

When looking at these figures as a whole, a clear picture emerges: Americans simply don’t have the financial education, tools, and resources necessary to ensure their financial security. That’s where AskFinny comes in.

What Is AskFinny?

In short, AskFinny helps you better manage your finances and budgets.

AskFinny is committed to changing the state of financial health in the US. Co-founders Chihee Kim and Milan Kovacevic know how hard it is for newcomers to get their arms around the vast array of financial products and services available, much less determine which are most appropriate for achieving individual financial goals. In an effort to make managing finances user-friendly – and fun – they created AskFinny.

AskFinnyAskFinny Logo breaks complex financial concepts down to the basics and eliminates jargon with clear, accessible financial education, coaching, and tools. 

Subscribers get personalized information and recommendations in a gamified setting that transforms dry, dull material into an engaging experience.

In their letter to members, AskFinny’s founders point out:

“Finance is very personal and shouldn’t be confusing or intimidating, so let us help you cut through all the noise and jargon so you can make better financial decisions. 

We believe firmly in the power that education can provide. Empower yourself and start learning with Finny today!”

Of course, the trouble is that costly financial management services are often out of reach for the people who need them most. So, what do AskFinny users get for their money? Is there value in joining the AskFinny community?

AskFinny Review:
What Do Users Get?

AskFinny’s premium plan is simple. For a low annual fee, which can be paid monthly, subscribers have unlimited access to a long list of money guides that cover topics of interest to those just starting out in financial planning, as well as those who are looking to develop or improve their investment portfolios.

In addition, AskFinny has a number of powerful analysis tools that make choosing the right assets for your portfolio simple.

Beyond the educational resources and investment tools, AskFinny offers premium members regular newsletters that provide insight on thriving in current market conditions.

That’s a huge benefit during turbulent economic times, because even the most sophisticated investors struggle with managing through market lows and making the most of market highs.

Perhaps the most useful resource that AskFinny subscribers get with their membership is the “AskFinny” Q&A service. 

Subscribers can type any financial question into the tool, and the question is answered instantly. If the automated chatbot doesn’t know the answer, you can connect with a human to get expert advice.

Better still, the information is presented without bias, as Finny isn’t beholden to any financial institution. If you need more detail, AskFinny directs you to relevant materials on the site.

Financial Education and
Resources from AskFinny

The beauty of AskFinny is its inclusive design. You don’t need any knowledge of finance, banking, or investing to get started.

More importantly, you don’t need to be wealthy to benefit from the site. AskFinny offers education and resources that cater to all levels of knowledge and every possible financial situation.

Whether you are well-established in your career, coping with unemployment, or ready to open your first brokerage account, AskFinny offers guidance specific to your situation.

This is the current list of AskFinny’s Money Guides:

  • Bear Market Guide
  • Car Insurance Guide
  • Credit Report Guide
  • Credit Score Guide
  • Debt Payoff Guide
  • Financial Independence (FI) Guide
  • Frugal Living
  • Health Insurance Guide
  • Health Savings Account (HSA) Guide
  • High-Yield Checking, Savings and CDs
  • Home Insurance Guide
  • Home Ownership Guide
  • Life Insurance Guide
  • Money Guide for All Ages
  • Mortgage Guide
  • Recession Survival Guide
  • Retirement Planning Guide
  • Simple Investing
  • Spending and Budgeting
  • Student Loans Guide
  • Target-Date Fund Investing
  • Unemployment Benefits

If you don’t see the topic you need, keep checking back – AskFinny editors are always reviewing the selection of content and adding new resources.

AskFinny Tools for Investors

Whether you are developing your first portfolio or you are interested in advanced investing techniques, AskFinny has exclusive analysis tools that can help.

Each is designed to give you a balanced picture of the various strengths and weaknesses of trading a particular security or using a specific strategy in the current marketplace. Examples include:

  • Quick Take: Stock, ETF, and Mutual Fund Analysis – Pros and cons of buying or selling individual stocks, ETFs, and mutual funds. Each analysis comes complete with a Finny Score, which is not a recommendation to buy or sell – instead, it is a visual representation of the balance between the pros and cons.
  • Compare Stocks, ETFs, and Mutual Funds – Side-by-side view of two stocks, ETFs, or mutual funds of your choice, so that you can compare critical data like historical performance, expense ratios, valuation, profitability, and other financial details.
  • Alternatives and Comparables – Pulls together a list of stocks, ETFs, and/or mutual funds that are similar to the ones you are considering.
  • Top Stocks – A  roundup of the stocks that make it onto “best of” lists divided into popular categories like dividend stocks, bargain stocks, wealth creators, etc.
  • Top ETFs – A  collection of the ETFs that make it onto “best of” lists divided into popular categories, including developed and emerging markets equity, fixed income, and US equity. You can also sort by issuer, for example Schwab, BlackRock, Vanguard, and State Street.
  • Top Mutual Funds – A synopsis of the mutual funds that make it onto the “best of” lists dividend into popular categories like international equity, US equity, index funds, fixed income (taxable), and fixed income (tax-exempt).
  • US Sector Scanner – Some ETFs cover a broad swath of the market, while others focus on specific industry sectors, for example energy, finance, or technology. US Sector Scanner gives you the opportunity to compare the performance and returns of ETFs in the same sector, so you can choose the ETF that best meets your financial goals.
  • Country Scanner – If you are looking to take advantage of returns in international markets, the Country Scanner tool offers a new perspective. Compare performance and returns of relevant ETFs and ETNs to guide your decision on where to invest.
  • Large-Cap Stocks with “Unlimited” Upside – Analysts collect all available information to make their predictions about what a stock will do next. This tool puts those predictions in one place to make your life easier. Check out what industry experts are forecasting for strong companies with market caps of $10 billion or more and compare that with current stock prices to create a portfolio poised for growth.
  • Mid-Cap Stocks with “Unlimited” Upside – This tool looks at the current price of select mid-cap stocks – companies with market caps ranging from $2 billion to $10 billion – then offers you the most current information on analysts’ expectations for growth in the coming year.
  • Small-Cap Stocks with “Unlimited” Upside – Large companies aren’t the only ones that can generate value for shareholders. Many smaller companies are growing at a rapid rate. This report allows you to compare current stock prices for companies with a market cap of $300 million to $2 billion against analysts’ predictions for growth over the next 12 months.
  • Low-Cost Mutual Funds – The amount you lose to commissions and fees can dramatically affect long-term profits. This tool offers a closer look at mutual fund opportunities that limit expenses. Compare performance against the total cost of funds from major industry players like Vanguard, Fidelity, and Schwab.
  • Low-Cost ETFs – Many investors prefer exchange-traded funds to mutual funds, because they realize savings on expenses. Maximize those savings with this comparison tool that compares popular ETFs from reputable money managers like Schwab, Vanguard, and Fidelity.
  • High-Yield Mutual Funds – Comparing and contrasting mutual funds is quite a project. Obviously, you want to invest in those most likely to deliver high yields, but with so many to choose from, how can you be sure you made the right decision? The High-Yield Mutual Funds tool takes the guesswork out of buying mutual funds shares by offering comparisons within market segments, as well as across industries. This tool focuses on mutual funds that have current net assets of $1 billion or more.
  • High-Yield ETFs – Many income investors rely on exchange-traded funds (ETFs), because they tend to have lower fees than mutual funds. However, finding the one most likely to deliver strong returns can be a chore. This tool takes care of the research for you, displaying ETFs with net assets over $1 billion that have a reputation for high yields.
  • Bargain Stocks – One of the most basic tenets of investing is to buy low and sell high. That’s easier to do when you purchase shares that are priced below their value. In many cases, if you beat other investors to the stock, you will be able to sit back and watch the value of your shares rise as the rest of the market catches up. The Bargain Stocks tool uses standard valuation calculations like P/E ratios, price/book, price/sales, free cash flow, and PEG ratios to identify stocks that appear undervalued, which gives you a starting point for finding your next big winner.
  • Warren Buffett Stocks – You have likely heard of Warren Buffett, also known as the Oracle of Omaha, and you probably know he is a masterful investor. It often seems that anything Buffett touches turns to gold. Get a list of the stocks that meet Warren Buffett’s stringent criteria, then build a portfolio that is right for you.
  • Cash Cow Stocks – When free cash flows grow year-over-year, investors get excited. This tool identifies companies that have a three-to-five year history of growth in free cash flows, with cash making up 10 percent or more of total assets.
  • Overperformer Stocks – Some companies, like some people, are overachievers. They have the skill, ambition, and drive for continuous growth. This tool offers a list of companies that have made success a habit, growing their revenue for 10 or more consecutive years and delivering positive earnings along the way.
  • Benjamin Graham Stocks – Also known as “the father of value investing”, Benjamin Graham made his fortune without taking big risks. He operated on the theory that buying stocks for less than the net cash on their balance sheets was almost like getting the business free of charge. The Benjamin Graham Stocks tool gives you a chance to evaluate companies that meet Graham’s criteria. This list includes companies with lots of net cash (cash with long-term debt subtracted) – specifically, those with net cash that makes up 50 percent or more of the market cap.
  • News News News – One of the things that turns new investors off is the need to spend hours on research for each trade. Truly educated decisions require review of financial records, analyst reports, and current industry and company news from a variety of publications. This tool brings all of the most critical news together in one place, from general market developments to the latest on individual organizations. It is designed to simplify the process of staying current with the companies already in your portfolio, as well as those that you are considering for a trade.
  • Dividend Stocks – Putting together a portfolio that pays out reliably can offer you a comfortable source of income. This tool pulls together stocks that have particularly high dividend yields, with no recent history of reducing their payouts. It is updated weekly to ensure that you have the most recent information when making decisions on when and what to buy.
  • Wealth Creator Stocks – It goes without saying that as an investor, your goal is to build your wealth. This tool is designed to help you choose opportunities that have potential for strong returns in coming months and years. The criteria for being included in this category include at least 20 percent return on equity (ROE) for five or more consecutive years, as well as a positive ROE for ten consecutive years.
  • Momentum Stocks – Some stocks are relatively steady, while others surprise analysts quarter after quarter. The Momentum Stocks tools picks out companies that have managed to exceed analyst forecasts for at least four consecutive quarters, while also showing rising estimates for earnings per share (EPS). For some investors, these may offer an opportunity to get on-board with a rising star.
  • Dividend ETF Strategies – Many investors go into the market with a goal of maximizing dividends. However, this isn’t quite as straightforward as it seems on the surface. There are a number of techniques and strategies that are intended to ensure high dividends – which works best depends on who you ask. The Dividend ETF Strategies tool lets you decide for yourself. Compare performance between dividend-driven ETFs concentrating on various strategies to determine which is best for you. Examples of strategies adopted by dividend-focused ETFs include buying shares in companies that achieved the Dividend Aristocrat title, buying preferred shares in companies that pay out more to this group, or buying shares in companies that have demonstrated a commitment to consistent dividend increases.
  • Key Market Scanner – The issue with finding the right ETF or ETFs for your portfolio is that there are just so many. Picking out the one that offers maximum performance and minimum expense is a challenge. The Key Market Scanner is designed to assist with comparing ETFs in given equity and fixed income markets. That narrows down the scope of your search, which makes it easier to find the investments that work best in your portfolio.
  • Commodity Scanner – Less experienced investors often pass on opportunities for buying into commodities, because it seems awfully complicated. The Commodity Scanner takes the guesswork out of this asset class by breaking down a collection of commodity ETFs and ETNs by performance.
  • Bond Scanner – Stocks aren’t always the best way to protect your assets, as they tend to be higher risk than some of alternative options. If you want to ensure a well-balanced and diverse portfolio, you might consider adding bonds to the mix. The Bond Scanner tool gives you a clear line of sight into opportunities for investing in bond ETFs. Compare and contract fixed-income ETF performance to determine which of these products will best meet your needs.

That’s a long list of tools for a low monthly fee. When compared to other financial education and investment advice services, AskFinny offers more high-quality information at a lower price – truly a win/win. 

Keep in mind that no investment tool or resource can tell you what will happen next with a particular stock, fund, or ETF.

Automated tools, industry experts, and market analysts can only look at past performance, current financial state, and any available information about the future of the company, industry, and economy to make their guesses about where growth will occur.

AskFinny Review:
What Do People Say?

Overall, those who have subscribed to AskFinny’s premium service give it high marks, particularly around the simple, intuitive user interface. Some comments include:

  • Love it! I just checked my retirement/401K funds, and it confirmed what I suspected… that I’m investing in funds that have below average performance. Yuck!
  • Intriguing. Love the simplicity of the user interface. The big guys should learn from you…
  • Great stuff! I especially like your charts, nice visualization!

While some users would like to see the service expand into international exchanges or provide detailed information on cryptocurrency, those who have used the tools available through AskFinny give high marks for accurate, balanced information, attractive visual presentation of data, and clear, user-friendly explanations of complex financial management concepts.

AskFinny Review Summary

The bottom line is that AskFinny is worth every penny of its low subscription fee, no matter what your current financial situation looks like.

There are endless tips and tricks for getting your finances on track if you are struggling, as well as detailed, actionable advice on making the most of what you have.

You can rely on AskFinny resources for the information you need to successfully achieve your short-term and long-term financial goals.

The article AskFinny Review – Money Guides For Your Finances was originally posted on Investormint

]]>
0