I ran into http://motif.com earlier today, which is pretty clearly attempting to RobinHood-style sew up millennials who have money but don’t connect to either mutual funds or the finance industry. Not sure how I feel about this, honestly.
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or better to use similar apps such as betterment or wealthfront but which exactly invest in low cost index funds for you with an optimal portfolio over the long term. no?
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If Motif can get people into dollar-cost averaging through regular contributions, all the better. So what if they perform at 5% over ten years though S&P was at 6%?
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Ah I didn’t see your whole thread! Cheers to the vanguard appreciation.
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I see your point on being better than nothing, but tough to call a decade of underperformance due to ignorance & predatory marketing a net good. Motif probably spends $500 to $1k+ per user in acquisition. That's a ton of misinformation to put on the internet via advertising.
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Forget index funds, folks need to max out their 401ks! That tax benefit has teeth. Even if you select somewhat pricey funds, you get such a large head start.
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