Exposing the Downsides about Acorns, Stash, Wealthfront, and Others

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#Investing #Apps #DontSueMeBro

[MeetKevin]

Heads up: All of these apps have their plusses and uses. This video is an overview of some of the weaknesses I see in them -- for example, I find M1Finance difficult for beginners, but a great app that folks can graduate to. This isn't supposed to be an in-depth analysis of each company (it's a 21 minute video touching on some things I don't like about 8 different apps). I should have made that more clear, so hopefully this pin helps.

[codybloomfield]

You and graham Stephan are the GOAT’s of YouTube. I love when I see the notification for a new video from you guys

[ZacharyLaid]

M1 finance isn't a robo advisor, it's more like giving you the option to equally balance your portfolio and purchase fractional shares of a company, and it may seem complicated but I think it's actually worth it.

[TommyBryson]

Acorns is more for people that are beginners, especially since they do partial share investing. And I think for credit cards the statistic is you'll spend around 12-16% more than you would with cash, and its sort of the same association when you use cashback and miles to associate spending with rewards.

[JorgeAlmazan]

Great video, however I really think you didn't give M1 Finance enough credit. You didn't talk about their suggested Expert Pies, Zero fees, and fractional shares. The way I see it, M1 gives you the ability to select from preset pies OR create your own portfolio, which is a plus for me.

[BlakeAlexander]

Oh how times have changed - now M1 is one of Kevin’s absolute favorites and he also takes out the full amount of margin he can from M1

[tiendoan]

M1 finance does allow you to invest in index funds automatically without lifting a finger

[AK-kyou]

M1 is by far the best for anyone that knows even a little about etf or stock investing.

[TexanFoxx]

As someone that doesn't use M1Finance because I had never heard of it before this video, I felt like you did them a disservice. It didn't seem like you really went into a detailed look at them. It looks like you might need to do a deeper dive into that website/app based on your comments within the first hour of posting the video, you also said it was free. I don't see very many cons after taking a look at it for like 15 minutes. It looks like they have auto-rebalancing, suggested ETFs/portfolios based on your risk tolerance, partial/percentage based ETF investing, and more.

[SocialWoodWorksTV]

Hey Kevin, Sandro here (your neighbor on Turquoise Ave.). My family and I have been to most of your crazy Halloween block parties and we see you driving around the neighborhood all the time. I am really glad that I stumbled on your channel today because it is amazing and you actually have a ton of valuable informational content. Keep up the good work buddy and hope to see you around.

[iamdavis]

I use M1 and Vanguard...no issues. As long as you have an idea of what you're doing, they're actually great.

[Abduliscool]

So M1 Finance is out because it gives you more control?


Gotcha

[TheAbrahamHD]

I dont think you gave M1 a fair shot... sounds like you cut your research on it way too early. You can invest in 'expert' pies of your choice, which automatically invests in a good pile of stocks, and on the other hand, they do give you the choice to have more control in case you don't need them to hold your hand. I have 60 holdings with them with the purpose of long term dividend gains compounding all the time. I of course did my research on it as I'm a big boy, and I'm comfortable with a large lump of money with them.

[calvinraab]

I do like how they are all competitors and I believe that will push them all to keep improving their services!

[giannyniebla]

Hey Kevin,
I am a huge fan of yours and was wondering if you could expand on why you didn't like M1 finance. I have been a user of theirs for a long time and picking index funds has not been a hindrance to me. I also have to say that their fractional shares are great because I want my money to always be producing as much return as possible and it has no fees. Thank you anyhow great video!

[talononeone]

M1 rejected because it offers to much choice?

[guardiabreak]

I like that you were short, to the point on each of them and didn't go into long detail.

[minmaxmedia]

It's like an investing app version of Chuck E. Cheese's wack-a-mole -- The investing apps pop their head out and Kevin smacks them back down. I am sure Jack would approve. Good video as always.

[anotherstar]

what's your opinion on Stash if you don't have the debit card and just investing in stock through the app?

[dannyfresh]

I use stash and acorns as just side investments but not their lame debit card option. Anything wrong with that?