Ah! Finally got my Wealthfront account vested, and it ended on a positive note! Up 1.30%. Although, the entire market was up this week, so that was a big help. Would like to see how it performs when the market is down (but I would assume my portfolio would also go down).
Wealthfront initial investment takes about a week from opening an account and getting vested. I thought I was able to open an account on Sunday and have my money deposited on Monday to start tracking my progress, but instead, I had to wait through a various of verification steps. After verifying, Wealthfront takes a few days to actually take money from the bank and invests it depending on your risk level. I wish it was instant.
If you’re thinking of getting into Wealthfront, anticipate about a week of opening an account to initial investment. The screenshot below shows the on boarding process. I wasn’t able to take a screenshot of every step, but you can pretty much see the gist of what to expect.
People tell you that investing at an early age is best for you. But have you seen actual figures that backs up this statement? I haven’t… I’ve seen theoretical calculations, but I haven’t really seen any documented returns, which is why I’ve built this site. I want to be transparent and show my gains or losses each week, and see the progress at the end of the year.
Investing can get pretty confusing and really complicated, so that’s why we’re currently seeing the rise of “robo-advisors,” an automated system that will invest in stocks or bonds for you based on your investment goals.
I built this site in hopes to shine some light in what these “robo-advisors” are really about and how they can perform with real numbers. There’s a list of different investment services out there, but I’m starting with two of the top robo-advisors on the market right now: Betterment and Wealthfront. Its a fight to the death! Or… Fight till I’m broke!
I’ve only invested in $1,000 with a recurring deposit of $250/month. This amount will give a good starting point into how effective investing in these services will be for people who just want to start getting into investing, but don’t want to put all their eggs in one basket.
The chart below will show the difference between Wealthfront and Betterment.
To be honest, I don’t really care about any of these things… At the end of the day, all I care about is the $$$, and I’m sure that goes with the majority of the people reading this.