Betterment is a great tool for beginner investors or those who trust the experts to do the heavy lifting. It’s a long-term investment site that automates your investments for you. You basically deposit an amount into Betterment, answer a few questions about your goals, and it will invest based on those goals, as well as alter investments based on the market, to make sure you are getting the most return on your money. Here’s a detailed look at Betterment.
- Best For: Automated Investing. Betterment is the lazy man’s best friend and is also great for anyone just starting out in investing, since it automates trading for you. All you do is fund your account and answer questions about the types of investments you want, and Betterment will do all the heavy lifting for you.
- Price: The benefit of Betterment is there are no complicated fees, just a percentage charged depending on how much you’ve invested. It’s 0.35 percent for under $10,000, 0.25 percent for $10,000-$99,999, and 0.15 percent for anything over $100,000.
- Features: Since Betterment is an automated service, it doesn’t offer a lot of options when it comes to investing. Its main platform invests in both stock and bond ETFs to create your portfolio. You can also set up various forms of IRAs through Betterment, which will then tailor your investments based on your goals.
- Other highlights: You can currently get three months of free trading if you invest more than $5,000 or six months free if you invest more than $100,000.
- Customer Service: Since Betterment does all the heavy lifting for you, of course there are going to be questions, which Betterment is more than capable of answering. You can also get financial planning advice via Betterment.
|Fees||Investing Options||Minimum Investment||STL Rating|
|0.35 percent of investment,|
|Stocks and Bond ETFs, IRAs||$0|