Thanks for increasing my knowledge in personal finance, I recently subscribed to your channel. I want to give a big shout-out to all those working tirelessly to earn a living and build wealth during this recession. My husband and I are both retired and debt-free, and we're living smart and frugal with our money. Despite the recession, we're still earning passive income thanks to our savings and investments in the financial market. Investing lifestyle has enabled us to earn a steady monthly income through passive means, and we're grateful for it."""
@franciscaedmond7706 No problem at all! If you're seeking to earn substantial profits from your investment, I would suggest determining your investment horizon and implementing a long-term plan. I worked with Claire Martha Magalhaes to create a long-term investment strategy, and she assisted me in managing my investments while I focused on my job without any concerns:)
@franciscaedmond7706 I work with *CLAIRE MARTHA MAGALHAES* ,who is based in the United States. If you would like more information about her, you can conduct a search online.
Working with a skilled financial planner can be compared to having a mentor in the field of finance. I used to struggle to invest on my own and ended up losing money, but things changed once I started working with Claire Martha Magalhaes. She played a pivotal role in helping me improve my financial situation. Previously, I relied solely on my job and salary for income, but now I have found ways to generate additional income with ease, which has allowed me to leave traditional employment. Nowadays, I believe that investing is not a choice, but a necessity for anyone who desires financial independence and a good quality of life.
You can lower your fees by 50% by just selecting a Vanguard Target Date fund, which uses the same underlying investment vehicles. And you have more choices and control of your investments in Vanguards own Target Date Funds. I don't understand why you did not point this out in your review.
I like Schwab and Wealthfront among the list of robo-advisors. All focus on safe diverse growth, but a simple 2-fund portfolio outperforms with similar diversity and lower net expense ratio. See the ETF examples below. - 80% VTI and 20% VXUS - 80% ITOT and 20% IXUS - 80% SCHB and 20% SCHF
How do I opt out of Digital Advisor. Or how do I change what to invest in. I'm not a fan of this, I have had Vanguard digital advisor for my Roth IRA for a couple years and seen no gains and only losses. Thanks for the video.
Thank you for explain the digital advisor...I am wondering is Vanguard the best place for an actual advisor...I have my accounts with them but to see if I am in position to retire sooner than later..I dont know if digital advisor can help me determine this.
@@uprisemoney Thanks for posting. Yes, the topic of ESGV for today's investors. Vanguard sent me an email 3 weeks ago about ESG's. Could you compare VTI or VOO to ESGV? Thanks again!
If vanguard robo advisor invests in only those four funds then you can do that yourself without paying the 0.2% fee. Most of the vanguard retirement funds and Life strategy funds uses those four funds with various proportions.
"technology that optimized your portfolio" apart from exiting the stock market when you are about to enter retirement, the "optimal" behavior is to not do /anything/... ever. I think the main benefit to programs like this is that you are no longer in control over your finances. That is, for an overwhelming majority of people, a good thing. Normally, when people have control over their finances they do really stupid shit like exit the market at the bottom of a stock market crash and lose half their investment. Is it worth 0.2% of your investment per year to remove that temptation to lose half your money? For many, the answer is yes.
@@uprisemoney does that mean that it monitors those four funds and automatically adjusts based on market trends? If that’s the case, I think it’s worth it.
once your money is in an account like this, and you hit your goals and/or the time goal you wanted to invest the money, what is the process like to get your money out and actually be able to use it? does vanguard offer perks on loans or other products if you use their robe advisor?
Yeah, if you enroll your vanguard account in their robo, they’ll likely sell what you currently have and buy the portfolio they recommend for you. That said, selling at a loss is not a huge deal and even will give you some losses to claim on your taxes. What’s your concern around selling losses?
Based on your review, I tried Vanguard Digital Advisor. I honestly can't recommend it to any but the most patient investor. I'm pretty tech savvy, but it took me over an hour bouncing between different people in their tech support department, and two different browsers (chrome and firefox) just to open and fund my account. Their website is WAAAAY glitchy. Some of the features are known not to work (according to tech support). Also, the system is really only set up for retirement accounts, even though it gives you the choice of account type. The allocation is designed to change over time (they call it Glidepath), even if you don't want it to. Overall, I was pretty disappointed with my experience. So, with respect, I'll have to disagree with your positive rating.
I just opened a digital account a month ago and it was super easy and I am not tech savvy at all. I've been with vanguard for years and they have made a lot of improvements for ease of use.
If you connect external accounts will the tool take those accounts into consideration when making projections? Also can you see the asset allocation of each account or does the tool assume a single asset allocation over all accounts?
Vanguard definitely includes external accounts in its projections - it gives you the option to include/exclude any of your account when modeling. That said, to your point, it doesn’t seem so sophisticated as to take into account asset allocation in the external accounts. I linked my external Robinhood account and from what I can tell, you can choose to apply that entire account as a lump sum towards the “retirement goal.” This is only from what I can see, they never said anything explicitly one way or another. Feel free to reach out to Vanguard also!
Now that Vanguard allows dollar based trading of its ETFs, you may want to do a comparison to a self-directed account compared to its robo advisor. I think they started allowing this in late 2021, at least for some people. I only just noticed this a couple of nights ago, because I had some other non vanguard funds that I wanted to buy, and only recently was about to buy another share of a vanguard fund. I did have to wait until the morning to verify I could buy a fraction of a share based on how much money I wanted to invest, but I could do that now. It does seem to be limited to vanguard ETFs though. I did try it with another one, but I only had the option to buy whole shares. You may want to go over the benefits of using this feature to grow your portfolio compared to investing into vanguard's equivalent mutual funds or even using this to grow your portfolio until you can trade the ETFs to buy into the mutual fund given most have a minimum investment of at least $3,000.
Could you by chance do a Marcus Invest by Goldman Sachs review on their SmartBeta robo advisor? It claims it attempts to beat the market. I am curious of the fees are really worth it and if it actually manages to do what it says. Thanks
It can be for all accounts, but I recommend it for retirement accounts. It doesn't have tax loss harvesting which is a nice feature for taxable investment accounts
Thanks for great videos. Can you review Betterment as well, please? What I find interesting is that according The Robo Report only four robo funds kept us with the market. So fee is important but so is performance.
This was very informative! I currently contribute to an employer 401K plan for retirement, and I am looking for shorter term investments for short term goals. Would you recommend Vanguard or any of their products for that type of investing?
We generally recommend Vanguard’s products - though they don’t necessarily have the best tech, they usually have the lowest fees (which is extremely important) - if you want more specific recs, sign up for Uprise and we’ll look at your whole situation for free :)
Well, these are my retirement accounts, so I'm investing for the long-term and given the current market I wouldn't expect much profit in the short-term. So, no I haven't gained yet :)
I didn’t convert the IRA account :) Vanguard Digital Advisor can manage retirement accounts, as well as normal taxable investment accounts. Once I enrolled it, they auto-changed the investments to their recommended portfolio. I hope this helps!
Unfortunately no, they don't have this feature yet. I mainly use Vanguard Digital Advisor on tax advantaged retirement accounts, where tax loss harvesting isn't needed.
We have not reviewed them yet! But thanks for the suggestion for a new video topic! Also don't believe they offer a digital advisor, only financial (in-person) advisors, so that might make a difference in what you are looking for. If you are looking for support from a person, we would love to help you at Uprise also!
While inexpensive compared to other robo advisors, it's expensive for what you get. Also, if you have a vanguard account not enrolled in digital advisor, the experience gets super clunky. Managing a 4 fund portfolio yourself is simple enough. Do that and avoid the fees or give M1 finance a try. On M1 you can completely customize your portfolio. Rebalancing is just a click of a button. With no additional fees beyond the expense ratios of the funds you pick.
They both have great features! If you need any advice for your decision our team at Uprise would love to help - completely free - reach out through the link in our channel!
Thank you for an informative review. Since Vanguard's Digital Advisor consists of only their four constituent ETFs, couldn't you simply invest in Vanguard Retirement 2055 target date fund with an expense ratio of only 0.08%, even lower than the 0.20% of the advisor service and you'd get the same four underlying funds with nearly the same allocation? It seems you're paying an extra 0.12% for their allocation guidance to the same four underlying funds. An alternative could also be their life strategy funds which are still cheaper than the advisor service at 0.14% and again contain the same four underlying funds.
Good question! The short answer is yes, you’re right. Digital Advisor saves you a little bit of work and mental bandwidth when you make new contributions. In my case, I set up my payroll so that a certain amount of my paycheck goes straight into Digital Advisor and then they take care of making sure it’s invested automatically. There are hacky ways to do this with the target date fund also, but it’s not as convenient/straightforward. (support.vanguard.com/tutorials/automatic-investments) For me it comes down to convenience and whether that’s worth the price difference. I have another account (not Vanguard) where I set up automatic deposits and sometimes I forget and the money would sit in their uninvested for weeks or even months, which is probably costing me more! Hope that helps!
Fidelity better than most the financial products you post about. I get why you do not make videos about fidelity, they are better than all the companies you post about in almost all categories. If you posted about fidelity you wouldn’t have any content to post.
You basically paid 0.20% fees but could have just got those ETFs yourself and the recommended diversity and only pay 0.03%. It's not bad with a little money but lets say $1,000,000. Thats $2000 vs $300. That wouldn't seem bad when the market is up but when the market is down... that $2000 is going to hurt. I would recommend something that just tracks the S&P500 (I saw an ETF that is only 0.005% fees. yes. that is 0.005% and not 0.05%) , keep some cash in hand.. maybe 5-10% and idk... still figuring about if bonds are worth it or not. Anyone got good advice on bonds?
Thanks for increasing my knowledge in personal finance, I recently subscribed to your channel. I want to give a big shout-out to all those working tirelessly to earn a living and build wealth during this recession. My husband and I are both retired and debt-free, and we're living smart and frugal with our money. Despite the recession, we're still earning passive income thanks to our savings and investments in the financial market. Investing lifestyle has enabled us to earn a steady monthly income through passive means, and we're grateful for it."""
@franciscaedmond7706 No problem at all! If you're seeking to earn substantial profits from your investment, I would suggest determining your investment horizon and implementing a long-term plan. I worked with Claire Martha Magalhaes to create a long-term investment strategy, and she assisted me in managing my investments while I focused on my job without any concerns:)
@franciscaedmond7706 I work with *CLAIRE MARTHA MAGALHAES* ,who is based in the United States. If you would like more information about her, you can conduct a search online.
Working with a skilled financial planner can be compared to having a mentor in the field of finance. I used to struggle to invest on my own and ended up losing money, but things changed once I started working with Claire Martha Magalhaes. She played a pivotal role in helping me improve my financial situation. Previously, I relied solely on my job and salary for income, but now I have found ways to generate additional income with ease, which has allowed me to leave traditional employment. Nowadays, I believe that investing is not a choice, but a necessity for anyone who desires financial independence and a good quality of life.
Excellent walkthrough Jessica! I don't currently use a robo-advisor but it's nice to see how it all works.
You can lower your fees by 50% by just selecting a Vanguard Target Date fund, which uses the same underlying investment vehicles. And you have more choices and control of your investments in Vanguards own Target Date Funds. I don't understand why you did not point this out in your review.
I like Schwab and Wealthfront among the list of robo-advisors. All focus on safe diverse growth, but a simple 2-fund portfolio outperforms with similar diversity and lower net expense ratio. See the ETF examples below.
- 80% VTI and 20% VXUS
- 80% ITOT and 20% IXUS
- 80% SCHB and 20% SCHF
Each their own. Im 70% VTI 30% VEA
How do I opt out of Digital Advisor. Or how do I change what to invest in. I'm not a fan of this, I have had Vanguard digital advisor for my Roth IRA for a couple years and seen no gains and only losses. Thanks for the video.
Thank you for explain the digital advisor...I am wondering is Vanguard the best place for an actual advisor...I have my accounts with them but to see if I am in position to retire sooner than later..I dont know if digital advisor can help me determine this.
This video is so informative thank you so much!
I'm glad it's helpful! Let us know if there's any other topics we can cover for you!
@@uprisemoney Thanks for posting. Yes, the topic of ESGV for today's investors. Vanguard sent me an email 3 weeks ago about ESG's. Could you compare VTI or VOO to ESGV? Thanks again!
Great idea, we'll add it to our list of topics!
You're awesome, thanks for explaining everything and making this an easier to understand. I will now be definitely investing with digital advisor.
Very informative. Thank you.
If vanguard robo advisor invests in only those four funds then you can do that yourself without paying the 0.2% fee. Most of the vanguard retirement funds and Life strategy funds uses those four funds with various proportions.
Yes, you could do it yourself, but robo-advisors monitor your investment on your behalf using technology that optimizes your portfolio :)
"technology that optimized your portfolio" apart from exiting the stock market when you are about to enter retirement, the "optimal" behavior is to not do /anything/... ever.
I think the main benefit to programs like this is that you are no longer in control over your finances. That is, for an overwhelming majority of people, a good thing. Normally, when people have control over their finances they do really stupid shit like exit the market at the bottom of a stock market crash and lose half their investment. Is it worth 0.2% of your investment per year to remove that temptation to lose half your money? For many, the answer is yes.
@@uprisemoney does that mean that it monitors those four funds and automatically adjusts based on market trends? If that’s the case, I think it’s worth it.
Good videer! Do you have to allocate cash to all 4 positions in the Vanguard Digital Advisor or can you tailor your choices?
once your money is in an account like this, and you hit your goals and/or the time goal you wanted to invest the money, what is the process like to get your money out and actually be able to use it? does vanguard offer perks on loans or other products if you use their robe advisor?
What are your thoughts on M1 Finance? Can you do a review of that comparing betterment?
We'll add it to our list of topics! Thanks for the suggestion
How does adding funds to your account work? I am considering using robo advisor and plan to contribute a certain amount per month.
You connect your bank account, let them know how much, and Vanguard will automatically pull the funds into your account.
My vanguard account is on the negatives I want to get robot advisors. But will robot advisor sell my current holdings at a lost ?
Yeah, if you enroll your vanguard account in their robo, they’ll likely sell what you currently have and buy the portfolio they recommend for you.
That said, selling at a loss is not a huge deal and even will give you some losses to claim on your taxes. What’s your concern around selling losses?
Great video very informative
Based on your review, I tried Vanguard Digital Advisor. I honestly can't recommend it to any but the most patient investor. I'm pretty tech savvy, but it took me over an hour bouncing between different people in their tech support department, and two different browsers (chrome and firefox) just to open and fund my account. Their website is WAAAAY glitchy. Some of the features are known not to work (according to tech support). Also, the system is really only set up for retirement accounts, even though it gives you the choice of account type. The allocation is designed to change over time (they call it Glidepath), even if you don't want it to. Overall, I was pretty disappointed with my experience. So, with respect, I'll have to disagree with your positive rating.
I just opened a digital account a month ago and it was super easy and I am not tech savvy at all. I've been with vanguard for years and they have made a lot of improvements for ease of use.
I saw that vanguard digital advisor now offers tax loss harvesting. Can you consider reviewing that feature in a video
If you connect external accounts will the tool take those accounts into consideration when making projections? Also can you see the asset allocation of each account or does the tool assume a single asset allocation over all accounts?
Vanguard definitely includes external accounts in its projections - it gives you the option to include/exclude any of your account when modeling.
That said, to your point, it doesn’t seem so sophisticated as to take into account asset allocation in the external accounts. I linked my external Robinhood account and from what I can tell, you can choose to apply that entire account as a lump sum towards the “retirement goal.” This is only from what I can see, they never said anything explicitly one way or another. Feel free to reach out to Vanguard also!
Thank you for posting a clear and concise video.
IS THERE A MINIMUM OF MONEY THAT VANGUARD REQUIRES YOU NEED TO HAVE? LIKE WEALTHFRONT HAS MINIMUM OF $500 I BELIEVE THAT YOU NEED TO START OFF WITH.
Now that Vanguard allows dollar based trading of its ETFs, you may want to do a comparison to a self-directed account compared to its robo advisor. I think they started allowing this in late 2021, at least for some people. I only just noticed this a couple of nights ago, because I had some other non vanguard funds that I wanted to buy, and only recently was about to buy another share of a vanguard fund. I did have to wait until the morning to verify I could buy a fraction of a share based on how much money I wanted to invest, but I could do that now. It does seem to be limited to vanguard ETFs though. I did try it with another one, but I only had the option to buy whole shares. You may want to go over the benefits of using this feature to grow your portfolio compared to investing into vanguard's equivalent mutual funds or even using this to grow your portfolio until you can trade the ETFs to buy into the mutual fund given most have a minimum investment of at least $3,000.
Great idea for future content!
Could you by chance do a Marcus Invest by Goldman Sachs review on their SmartBeta robo advisor? It claims it attempts to beat the market. I am curious of the fees are really worth it and if it actually manages to do what it says. Thanks
We'll add it to our list, seems like a great idea!
Dp they hold a % in cash? What it is. Tranfers from bank to account options?
You can link a bank account for transfers both ways. I have a moderate asset mix, none is held in cash.
Is this only for retirement accounts?
It can be for all accounts, but I recommend it for retirement accounts. It doesn't have tax loss harvesting which is a nice feature for taxable investment accounts
Thanks for great videos. Can you review Betterment as well, please? What I find interesting is that according The Robo Report only four robo funds kept us with the market. So fee is important but so is performance.
Great idea! We'll add it to our list!
How does Vanguard Robo advisor compare to Fidelity Robo advisor?
Great idea for another review video!
I would also like to see a Vanguard and Fidelity comparison.
Hello,
Question, if I open a Vanguard Brokerage account, what is the minimum deposit to open an account?
3000$
Wealthfront and m1 is 0
Wealthsimple robo advisor is not mentioned in this video. Is it something that is only available in Canada?
only canada
This was very interesting.
This was very informative! I currently contribute to an employer 401K plan for retirement, and I am looking for shorter term investments for short term goals. Would you recommend Vanguard or any of their products for that type of investing?
We generally recommend Vanguard’s products - though they don’t necessarily have the best tech, they usually have the lowest fees (which is extremely important) - if you want more specific recs, sign up for Uprise and we’ll look at your whole situation for free :)
It’s been 2 months. Have they made you any profits?
Well, these are my retirement accounts, so I'm investing for the long-term and given the current market I wouldn't expect much profit in the short-term. So, no I haven't gained yet :)
@@uprisemoney Vanguard states at least 6 months to see some results and of course market volatility.
I am confused here, did you end up converting that IRA account or what happens once you enrolled it?
I didn’t convert the IRA account :) Vanguard Digital Advisor can manage retirement accounts, as well as normal taxable investment accounts. Once I enrolled it, they auto-changed the investments to their recommended portfolio. I hope this helps!
Do they do any automated Tax Loss Harvesting?
Unfortunately no, they don't have this feature yet. I mainly use Vanguard Digital Advisor on tax advantaged retirement accounts, where tax loss harvesting isn't needed.
It's an expensive glorified target date fund
Good point, it serves a lot of the same purpose if you’re using it for retirement.
Your better off putting it in WINX fund.
Have you reviewed Edelman’s financial engines.
We have not reviewed them yet! But thanks for the suggestion for a new video topic! Also don't believe they offer a digital advisor, only financial (in-person) advisors, so that might make a difference in what you are looking for. If you are looking for support from a person, we would love to help you at Uprise also!
While inexpensive compared to other robo advisors, it's expensive for what you get. Also, if you have a vanguard account not enrolled in digital advisor, the experience gets super clunky. Managing a 4 fund portfolio yourself is simple enough. Do that and avoid the fees or give M1 finance a try. On M1 you can completely customize your portfolio. Rebalancing is just a click of a button. With no additional fees beyond the expense ratios of the funds you pick.
Thanks for sharing your experience!
I was chosing between this and wealthfront. I think I like this a little bit more.
They both have great features! If you need any advice for your decision our team at Uprise would love to help - completely free - reach out through the link in our channel!
Can you change the allocation of the stocks manually? Like if i want 90% stocks and 10% bonds?
What about this vs a Vanguard target date fund for an IRA? Seems like the same autopilot benefit with lower fees in the target date fund
Thank you for an informative review. Since Vanguard's Digital Advisor consists of only their four constituent ETFs, couldn't you simply invest in Vanguard Retirement 2055 target date fund with an expense ratio of only 0.08%, even lower than the 0.20% of the advisor service and you'd get the same four underlying funds with nearly the same allocation? It seems you're paying an extra 0.12% for their allocation guidance to the same four underlying funds. An alternative could also be their life strategy funds which are still cheaper than the advisor service at 0.14% and again contain the same four underlying funds.
Good question! The short answer is yes, you’re right. Digital Advisor saves you a little bit of work and mental bandwidth when you make new contributions.
In my case, I set up my payroll so that a certain amount of my paycheck goes straight into Digital Advisor and then they take care of making sure it’s invested automatically. There are hacky ways to do this with the target date fund also, but it’s not as convenient/straightforward. (support.vanguard.com/tutorials/automatic-investments) For me it comes down to convenience and whether that’s worth the price difference. I have another account (not Vanguard) where I set up automatic deposits and sometimes I forget and the money would sit in their uninvested for weeks or even months, which is probably costing me more!
Hope that helps!
Fidelity better than most the financial products you post about. I get why you do not make videos about fidelity, they are better than all the companies you post about in almost all categories. If you posted about fidelity you wouldn’t have any content to post.
You basically paid 0.20% fees but could have just got those ETFs yourself and the recommended diversity and only pay 0.03%. It's not bad with a little money but lets say $1,000,000. Thats $2000 vs $300. That wouldn't seem bad when the market is up but when the market is down... that $2000 is going to hurt. I would recommend something that just tracks the S&P500 (I saw an ETF that is only 0.005% fees. yes. that is 0.005% and not 0.05%) , keep some cash in hand.. maybe 5-10% and idk... still figuring about if bonds are worth it or not. Anyone got good advice on bonds?