![]() M1 Finance is an excellent option if you’re looking to invest in either a taxable account or a tax-advantaged retirement account. M1 Finance Referral Bonus Step-By-Step Directions This makes M1 Finance one of the only free roboadvisors currently on the market. Other roboadvisors such as Betterment or Wealthfront typically charge a management fee of 0.25%. What makes M1 Finance unique among roboadvisors is that they charge no management fees of any kind. Since I’m young and still have a long investing horizon, it’s fine for me to invest in this single ETF. This is a highly diversified index ETF that invests in every publicly traded company in the United States. I like to keep things simple when I invest, so my pie consists of a single investment, the Vanguard Total Stock Market ETF (VTI). Each pie consists of low-cost Vanguard index fund ETFs, which are empirically one of the best ways to invest. For example, under general investing, you can pick your investment pie based on how aggressive or conservative you want to be. Even if you create your own pie, remember that when it comes to investing, simpler is often better. I generally recommend using M1 Finance’s expert pies if you aren’t exactly sure what you’re doing or if you aren’t comfortable creating your own pie. You can either create your own custom pie or you can use M1 Finance’s expert pies. When you invest, you select your pie and M1 Finance will automatically distribute your contributions in the percentages you’ve set up in your pies. Rather than manually choosing each investment, M1 Finance instead uses a pie-based interface. The app is what you could call a roboadvisor. M1 Finance is an investing app that offers taxable investment accounts, as well as tax-advantaged retirement accounts in the form of IRAs, Roth IRAs, and SEP IRAs. We’ll talk about this more later in this post. Accordingly, if you only want to get the bonus and don’t actually want to use M1 Finance, your best bet is to open a taxable account, fund it with $5,000, and then leave it in your account in cash for 30 days. One important thing to know is that you do not have to invest the funds that you deposit into your M1 Finance account to be eligible for the referral bonus. In this post, I’ll walk you through exactly what you need to do to earn your M1 Finance referral bonus and give you my thoughts as to why I think M1 Finance is an investing platform that’s worth using. Note that you’ll need to have a taxable M1 Finance brokerage account to get the bonus (M1 Finance can’t put money into a tax-advantaged account like an IRA or Roth IRA). ![]()
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