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+--- Thread: I found an interesting Savings Vehicle... (/showthread.php?tid=2136)
I found an interesting Savings Vehicle... - Waterloo - 09-17-2017
Some of you know I just went through a divorce. Well, it pretty much wiped me out financially, especially owning this truck, which just added fuel to the fire. Well, I needed a simple way to save and do a bit better than .002% that the banks offer. Something that is fast to use from the truck, which is kind of my new home. I also wanted access to the funds in case of an emergency, go figure? AND I wanted it to have a phone ap so that when I felt like it, no matter the time of day or where I may be sitting, to be able to transfer funds in and out of my bank account. Well, this outfit covers all of my criteria. https://www.betterment.com
They have aps available in the Google and Apple ap stores. There is no set amount to invest, you can put in a few cents, or several thousand dollars, that is up to you. There are some annual fees, but nothing that bothers me. There are also different funds/accounts, depending on what you need to do, from savings to Roth IRAs. The funds are all VanGuard, and so far I have been seeing a few schekels accumulate in the account, more than I would see just transferring funds into a savings account. Right now, I am investing 10% of my weekly pay, or 10% of my bank account, which ever is greater. I am doing this every Friday like clock work. Right now the simple earnings on the account are at 0.8%. Much better than the bank.
Once the account is all set up, it took a few days to link to my bank account, it takes less than 30 seconds to set up the funds transfer. It will be 24 hours before the actual transfer of funds will happen, but that is pretty standard I believe for funds like this. Right now, I just want easy and simple, and this fits the bill. Much easier than even my bank ap in regards to moving funds.
I know how stubborn some can be in regards to saving, myself included. I figured if I find it useful, and am having success with this ap and funds, maybe someone here just might too. God knows we need savings, especially owning these new EPA rolling abortions.
One thing too, I run on cash, no credit cards, no truck payment and now no house note, as she took that along with all of the headaches, including the savings. I got my tools, golf clubs and stereo, I am set! LOL! Honestly, I need a way to quickly build up a savings account, and this Betterment outfit really makes that process very simple. Simple is my friend right now.
Also, if you know of similar outfits with similar services, please post them. I would never have known about this outfit if I had not sent my phone through the washing machine. The kid that sold me my new phone told me about this company. Maybe this will help someone, as it has myself.
RE: I found an interesting Savings Vehicle... - Longshot - 09-18-2017
Thanks Waterloo!
That is a great tip and I think putting escrow funds in there really makes sense.
Especially good place to put escrow Rawse talks about in his book that you don't touch and used for taxes, paying your balloon payment, or savings for that new truck.
Do they have the ability to create multiple accounts; one for "dont touch escrow", one for repair / maintenance / truck investment? I can look it up myself also if you don't already know the answer.
Really great share!
Thanks Again
RE: I found an interesting Savings Vehicle... - hhow55 - 09-18-2017
I know of a great "Saving Vehicle", it's called effort to preserve a marriage! LOL
RE: I found an interesting Savings Vehicle... - Rawze - 09-18-2017
Just remember that investments are not what they seem...
I was forced to put in, over a 10 year span,.. $roughly about $30,000 into a 401 by the company I was contracted to/employed by several years ago. It was one of their requirements, and you could not opt out of it. I tried to believe me, they have a minimum you have to put of your pay every week. The day I left them, it had $33,000 in it...
=-- i still get the statements every month form that "investment group' bulls$$it. crap!!...
Last month it had ABOUT $26,000 DOLLARS IN IT!. --- YES ACTUALLY SLIGHTLY LESS THAN I HAD PUT IN!!! --- and it has NEVER EVER GROWN ON ITS OWN!!--- and guess who it is by ---
VANGUARD!!!!!
So go ahead with that false hope of making your money "grow"... It is a sham that will only "GROW" if you keep pouring more money into it,.. otherwise,.. they just eat your profits up on xfer fees that don;t exist and "new investment opportunities" they take without your permission where the take MORE FEES and keep siphoning off all the growth it takes on in the process. -- IT IS DEFINITELY A SCAM AND FALSE HOPE!!!!!!
According th their advertisements and false hop statements, ans screwed up mathematics of 3-5% compounded bulls$it,... I should have AT LEAST a couple hundred thousand in it by now --- WHAT A SHAM!!
RE: I found an interesting Savings Vehicle... - Waterloo - 09-18-2017
(09-18-2017 )hhow55 Wrote: I know of a great "Saving Vehicle", it's called effort to preserve a marriage! LOL
LOL! No, it was time... She was miserable and was literally sucking the life out of, to her the point I did not even want to go home. When you get to that point, it is time to move on.