This is a review of Betterment IRA. What is Betterment IRA? How does it work? What service do you get? Are there better alternatives out there? These are just a few of the many questions this short review helps you answer!
Name of the company: Betterment IRA
Official Website URL: https://www.betterment.com/
Overall Rating: (4.4 / 5)
Recommended? : Yes
Important to mention (before we go into more details of this review)
We always strongly recommend doing your own research online before you choose a company to invest in. There are so many reviews online of clients being ripped off and scammed. So please investigate thoroughly and compare different alternatives before you make your decision.
One example: 99.9% of companies got “pushy” salespeople trying to stress you into acting fast.
Here is the thing, the #1 Recommended Gold & Silver IRA Dealer on our top-5 list got No-salesy representatives… So they won´t bother or terrorize you with phone calls.
You are a smart person, so I am absolutely sure that you understand the benefits of dealing with such a company instead, right?
+They got a couple more benefits you might appreciate as much as I do, you will understand yourself once you have visited the page (link) above.
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With that being said, let´s continue with the review on Betterment IRA!
Betterment IRA has managed to clinch a spot amongst the top firms in its niche. What is Betterment IRA? What does it offer? Is it superior to its peers? Such are just but some of the questions that we shall be tackling in this review. In order to help you get a clear understanding of this company, we shall provide answers to the questions outlined below:
– What is Betterment IRA?
– How does it work?
– Which IRA services does it offer?
– Is it genuine?
– How are its services priced?
– Does it have any investment opportunities that you can rely on?
– What are its main pros and cons?
What is Betterment IRA?
Betterment IRA is one of the top Robo-advisory firms in the Individual Retirement Accounts niche. It is, in fact, one of the pioneers of these services. Robo-advisory services are those platforms that rely on technology, to recommend the best selection of assets to be included in a portfolio and to automate the entire investment process.
Betterment IRA was founded in 2008 and has since then included a variety of assets into its Robo-advisory system. The reliance on technology has given Betterment IRA over most traditional IRA firms since the decisions made by the system are backed up by data.
John Stein, the founder of this company, had the goal of creating an investment platform that would have the customer as the main focus. This way, all customers end up having unique portfolios. If you need any type of help deciding on how to allocate your investments, Betterment IRA offers you a couple of tools that can guide you through that process. As much as the company relies heavily on technology, all processes are quite simple and are geared towards enabling all clients to achieve high success rates with their IRA investment portfolios.
How does it work?
In order to enjoy the services offered by Betterment IRA, you are required to sign up for an account. Betterment IRA will request for biodata such as:
– Estimated number of years till retirement
You will also be requested to provide an overview of your financial goals such as the amount of money you want to save for retirement, for college tuition, and for your emergency fund.
Upon the submission of this data, the system goes ahead to determine your level of aggressiveness. This helps them determine the system to determine the most preferred combination of assets that will help you meet your goals.
Overall, the questionnaire is structured in such a way that it will capture data that is pertinent to the determination of the nature of your finances. Parameters such as risk tolerance, expected cash flows, and financial goals, are very essential in the development of a unique portfolio.
Upon providing your data, the Betterment IRA system builds a portfolio for you. You are then required to fund the account for the investment process to kick off.
You do not have to worry about what will happen to your money from then onwards. This system is built in such a way that it can balance your portfolio, and can invest new deposits in certain assets when there is a need to maintain a balance.
The system, for instance, decides when it is time to buy and sell stocks, and which assets to keep holding. As you can see, you barely have to worry about rebalancing your portfolio.
The IRAs it offers
Betterment IRA offers its customers the opportunity to grow their money through a number of financial instruments. The main accounts, however, are IRAs.
There are three types of IRA that are offered by this company, as shown below:
1. Traditional IRAs
A traditional IRA is essentially one that allows its owner to direct their pre-tax income towards certain investments, which have the capability to grow tax-deferred.
Simply put, with a traditional IRA, you are required to pay the taxes on the investments you selected at the time you are making cash withdrawals at retirement.
2. Roth IRAs
Roth IRAs are IRAs that are quite similar to traditional IRAs only that with Roth IRAs the contributions are not tax-deductible. In addition to that, with Roth IRAs, the qualified distributions happen to be tax-free.
What I mean by this is that, with a Roth IRA, you are required to pay tax beforehand so that you do not pay taxes at the time you are withdrawing your investment income at retirement.
3. Simplified Employee Pension (SEP-IRA)
This is s a retirement plan that employers and self-employed entrepreneurs or business people can establish.
(If you are interested in Gold & Silver IRA solutions)
Pricing and Fees
Betterment IRA seeks to serve its customers by offering them the best services at the most affordable fees. This firm has two plans that its customers can pay for and work with. They include:
This plan has the following features:
– Annual fee of 0.25% on your balance is charged
– $0 minimum account balance
– Personalized financial advice
– Low-cost and globally diversified assets are included in your portfolio
– Automatic rebalancing
– Advanced tax-saving strategies.
– Everything is managed in one place.
– Excellent customer service
This plan has the following features:
– Annual fee of 0.40% on your balance is charged
– $100,000 minimum account balance
– Has all benefits in the Digital plan
– In-depth advice on other investment options (outside what Betterment offers)
– Unlimited access to the CFP professionals who provide guidance on certain life events ( getting married, having a child, approaching retirement years)
Important to mention here:
Always make sure that you know what exact fees are associated and what everything will cost you in the end, as there are so many reports online of clients being “surprised” with so-called hidden fees they had no idea about.
Is it legit and genuine?
Betterment IRA is a genuine company that has been in existence since 2008. Owing to the fact that the field of IRAs and investments is one that has very many jurisdictions, it would have been very impossible for Betterment IRA to survive for more than a decade.
Also, this company has a physical address where you can pay them a visit if you would like to consult its support staff on the available services. It has its mailing address stated as:
Betterment LLC, 8 W. 24th Street, 6th Floor, New York, NY 10010.
As you can see, there is a range of investment opportunities that this firm offers. The main channels through which you can earn investment income include traditional IRAs, Roth IRAs, and SEPs. This will pretty much help you to achieve all your money-making goals. If you do not prefer these IRAs, you can also invest your money through:
– Taxable accounts ( individual and joint)
– Business 401(k) accounts.
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Pros and cons
It might be wise to compare the pros against the cons to get a better overall view, right? As always in our reviews we provide you with some clear points on both sides of the spectrum:
- Very easy signup process
- Excellent customer support
- Tax-loss harvesting
- Great asset combinations for your portfolio
- You can add new goals and still track your progress
- Unable to manage customers’ external accounts
- You cannot borrow money against your portfolio
Do You Own or represent Betterment IRA?
If you are a representative, or associate of Betterment IRA and have found something not to be correct in this review please, feel free to tell us and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or simply by sending us an e-mail to firstname.lastname@example.org.
Final words and verdict
Overall rating: (4.4 / 5)
Ok, I think that sums up the overall view of Betterment IRA pretty well. It is a legit service for sure, however, if it is the right one for you or not is something you have to decide for yourself. It is always a wise thing to educate yourself as much as possible in the areas you are interested in. It might be a good thing for you, however, make sure to get your info from more than one source.
You made a wise decision to read this review and you are a smart person so I am absolutely sure that you will find the right company to do business with that suits your particular needs the most.
What I would recommend?
There are many great investment services out there. We have many Gold Mining investment opportunities and services, coin dealers, IRA service providers, and financial services in general listed on this website, mostly for precious metals and Bitcoin but also for other alternative investments.
You can find the best from 2 worlds that we can recommend below:
I hope you found this short review of Betterment IRA to be helpful and that you now have a better understanding of what it is and if it is something for you or not. Please, if you have used any of their services then share your experience in the comment section below as it can help others! Also, if you got any questions about this review I will be more than happy to answer them below!
I wish you success!
founder of: Goldretired.com