My first month of the Grow Your Dough Challenge with Wealth Hacker Jeff Rose is in the books! Here’s how I did in January with my Betterment account. This is the first time that I’m using Betterment so I’m going into this brand new!
Here’s a quick run down of what I got going on:
Initial amount: $1,000 (no added deposits due to challenge rules)
Amount as of February 8: $1,071.66
Cumulative return: 8.5%
Plan of action for February
One thing to keep in mind, you can’t go heavy into investing until you have debt under control. When I was going through my debt free journey, I only contributed 2-5.5% towards retirement until I was debt free.
Who do you invest with? How do you grow your dough? Betterment so far has been a great tool to help me learn and I don’t feel like they throw jargon at me without first explaining things in plain terms. If you are interested in trying Betterment for yourself, you can sign up using my affiliate link which gets you 90 days managed free and I get one month free. Keep in mind, Betterment charges an annual fee of 0.25% on your investment balance. This is a lot cheaper than what most active financial advisors will charge, so do your homework.
Have you used Betterment before? What do you think of this robo-advising platform?
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