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Hey, today let's talk about Wealthfront!
Wealthfront's Investment Methodology: https://wealthfront.com/methodology
Btw you can check their historical returns here: https://wealthfront.com/historical-performance
IMPORTANT: Remember that any of these mentioned financial institutions can change their rates and policies throughout the year. I recommend that you monitor each respective website before you open new accounts.
HI I’m 14 years old and I have exactly 500 dollars will I be able to invest any of it?
Edit: am i too young and if I’m not can you please tell me exactly what to do . Thanks
The information here is so valuable, i deeply appreciate the work youve put into this video. Im 21, never invested before (aside from the 401k), and just got my first job a month ago. I was recently looking at wealthfront as a place to start and was worried about the fees but now im a little more comfortable with it
Thank you! ?
I'm curious if that management fee has gone down over the years due to market competition
Why don’t they just be a bank like Wells Fargo or something
Hey Eddie, can you do a review of Vanguard Digital Advisor as well?
Possibly one of the best
Possibly one of the best kept secrets in the banking world, the WealthFront cash account. Cash account holders are not required to be enrolled in WealthFront's robo investor platform.
Sign up for WealthFront Cash Account here : https://www.wealthfront.com/cash
WealthFront Cash Account 'Frequently Asked Questions' : https://support.wealthfront.com/hc/en-us/sections/360003174852-Cash-Account
WealthFront video I cited : https://youtu.be/DolYBSh0tlU
NerdWallet Best Savings Accounts : https://www.nerdwallet.com/best/banking/savings-accounts
CNBC story on WealthFront : https://www.cnbc.com/2019/05/28/wealthfront-bumps-interest-rate-to-highest-in-the-industry-in-ongoing-battle-for-deposits.html?&qsearchterm=wealthfront
The Street piece on Fed Rate Cut : https://www.thestreet.com/markets/federal-reserve-cuts-key-interest-rate-in-first-reduction-since-financial-crisis-15039987
Fed Watch Tool used for Fed funds rate expectations : https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html
Thank you for watching.
How long did it take to earn that 27 dollar interest? By the way glad you're safe from the storm
Great! keep us update let see what will happen by next week . The only thing I know it will still the highest in the market.
2.07% now...it was great while it lasted ??♂️
It’s already 2.32% lol
Well, Wealthfront dropped their APY in response to the rate cut by the Fed, it is now at 2.32% : https://www.wealthfront.com/cash
The Fed expected to continue cutting rates progressively : https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html/
Still a good place to park your emergency fund. There is however an alternative at 2.55% APY with Popular Direct : https://www.populardirect.com/products/savings/popular-direct-ultimate-savings
Nerdwallet's review of Savings Accounts : https://www.nerdwallet.com/best/banking/savings-accounts
Depends on how often you want to move your money around.
Today I'll be discussing
Today I'll be discussing Wealthfront vs Ally Bank.
What is Wealthfront?
Wealthfront is not a bank. They are an automated investment firm that specializes in asset management. Though they are not a bank, they do have something called a Wealthfront savings account. This account offers an unusually high interest rate. One of the only higher savings account rates in the industry is through a company called Betterment, though you will see why they are not a good choice as you watch the video. I encourage you to check out a Wealthfront review, but be aware of any rate changes.
The other two accounts I discuss are with Ally Bank and Marcus by Goldman Sachs. The Ally Bank saving account has a modest 2.10% interest rate, while Marcus has a 2.15% interest rate. Is it worth it to switch from one of these accounts to Wealthfront? Watch the video and decide for yourself!
Be aware that if you do choose to leave your money with Wealthfront, they can change their rates anytime and may pressure you to invest in their other "opportunities". Be aware of this and always check to make sure you're getting the best rate.
If you have any questions, please leave a comment below and respond. I read EVERY comment. Please like and subscribe! Thank you for watching!
#Wealthfront #AllyBank #HighInterestSavingsAccount
Would it be smart to have money in these banks during a recession? Would the interest go up? I'm clueless.
Anyone who thought that Wealthfront 2.57% rate was going to stay, needs they’re brain ? examned for stupidity . I believe that their rate is now 2.32%. I been telling people that online banks are just hype when it comes to high interest rates. Stop being played as fools.
At 4:53, I meant to say "Wealthfront over Ally". Wealthfront gave you an extra 14.58% over the full 20 years. Keep that in mind!
Very good video