A Complete View Of Your Finances With Betterment
Betterment, one of the original pioneers of the “robot advisors” keeps getting better and better.
Over the years, Betterment has continued to improve its platform, developing enhancements and features for it’s users. One of the biggest improvements to the platform is the ability aggregate all of your financial accounts into your dashboard. Like many other financial tools out there, you can now “connect” your external accounts to give yourself a complete view of your finances. This, in turn, allows Betterment to give you more insightful and personalized financial advice. While this isn’t anything innovative it is a far cry from the days when all you could really do was deposit, withdraw and allocate money. This feature was definitely long overdue.
To further utilize this feature, Betterment can continually assess your external accounts and show you how much of your nest egg is being eaten up in fees. It will then use that information to give you fee advice. So much of people’s portfolios are lost to high fee funds over time. More often than not, they are not even aware of this. By putting it front and center in quantifiable terms, you can now make informed decisions on where to allocate your money. In addition to keeping your fees in check, when you aggregate your accounts for a complete view, Betterment will send you alerts whenever it sees idle cash lying around. We all know that money that isn’t put to work is a lost opportunity, not to mention the decrease in value due to inflation. Small changes like these can add thousands of dollars to your retirement over the long haul.