Wealthfront drop minimum investment

Discussion in 'Online Brokers' started by Penny, Jul 27, 2015.

    Jul 27, 2015
  1. Penny

    Penny Well-Known Member

    Joined:
    Jun 2015
    Posts:
    223
    Likes Received:
    1
    Wealthfront used to require a 5000 dollar minimum investment but have dropped it to $500. I don't know about you but that is enough inducement for me to try it. My Betterment account is doing fairly badly even taking into account how the market has been. This might be a good replacement.
     
    Penny, Jul 27, 2015
    Penny, Jul 27, 2015
    #1
    2. Jul 27, 2015
  2. JR Ewing

    JR Ewing Super Moderator Staff Member

    Joined:
    Feb 2014
    Posts:
    4,950
    Likes Received:
    39
    Investing $500 is certainly better than investing $0. Adding to your nestegg as much as possible as often as possible will build it up a great deal over time - particularly in a tax-advantaged account.
     
    JR Ewing, Jul 27, 2015
    JR Ewing, Jul 27, 2015
    #2
    3. Jul 27, 2015
  3. Penny

    Penny Well-Known Member

    Joined:
    Jun 2015
    Posts:
    223
    Likes Received:
    1
    I already have a 401k and a brokerage account with Fidelity. I have been looking for the perfect place to have a second brokerage account outside of Fidelity just for added security. I had Betterment for a year and basically it has lost value and the interface sucks. RobinHood has been fun for picking up solo stocks and is up 4% even based on my pretty lousy stock knowledge.

    My hope is that WF's diversified strategy is better than Betterment's. But I always like to try out a service with a small dollar amount first just to see how it goes and not get too locked in.

    Basically I am exactly the kind of customer this strategy is targeting ;) -- http://wealthmanagement.com/technol...count-minimum-500-takes-shot-betterments-fees
     
    Penny, Jul 27, 2015
    Penny, Jul 27, 2015
    #3
Tags:

Share This Page