You can check them out here, and receive $25 for opening through this link: Free $25 for Opening Account [Note: Betterment now requires a minimum deposit before depositing the $25; but still not a bad return on your investment with a guaranteed return!].
I was looking for a way to invest our Emergency fund, so it is easily accessible, but makes more than the 0.5% that my savings account currently makes.
I decided to start small with this account and see where it goes. $250 initial deposit, and $100 a month auto deposit will fund this account.
Why did I chose Betterment:
- They have extremely low fees
- The money is easily accessible
- The program helps me reallocate my funds easily
- The dashboard helps to show me if I am on track and the likelihood of reaching a certain amount over a given amount of time. In fact the Dashboard is a great tool to play with different scenarios.
Other than Pensions and Retirement Funds (401k, Roth IRA), this is really my first dabble into the investment world where I control the amounts. I am just dipping my toes into the water to see how I do.
I will track this account over time and see if we can grow that emergency fund.
Emergency Fund Tracker:
Month 1 [January 2014]: Initial Investment $250, Bonus $25 - Total Invested: $275.00
Month 2 [Feb 1, 2014]: Auto Deposit $100, Market Adjustment: -$11.47 Total Invested: $363.53
Month 3 [Mar 1, 2014]: Auto Deposit $100, Market Adjustment: $12.30 Total Invested: $475.83
Month 9 [Sept 1, 2014]: Auto Deposit $600 [$100 Apr-Sept], Market Adj: $38.22 Total: $1,114.05
Month 3 [Mar 1, 2014]: Auto Deposit $100, Market Adjustment: $12.30 Total Invested: $475.83
Month 9 [Sept 1, 2014]: Auto Deposit $600 [$100 Apr-Sept], Market Adj: $38.22 Total: $1,114.05
Okay that probably wasn't the best month to start, since the market dropped in January, but I am still optimistic that I will earn much more than the measly half a percent that I would have in my savings account in the long run. Should be fun.
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