Michael Denny

Personal Finance Friday - Do Me and Yourself a Favor

Michael Denny

Okay this is a short one. If you've got nothing from any of my posts, or have thought about doing something but just haven't gotten around to it, just do me and yourself this one favor, pretty please!

- Go on your phone or computer... and go to www.betterment.com

- Okay now sign up, and go through the process to connect a bank account

- Then set up an automatic deposit for $100 a month a few days after you usually get paid, each month.

DONE!

If you need help picking the allocation, email or text me, but if you do 60% stocks 40% bonds that's not a bad start for most people.

All of this will probably take you a total of 20 minutes over a few days (to verify your bank account they will have to do some small deposits and withdrawals). I know this is a big ask on my part but just do it. If you already have an account like this (wealth front, brokerage account, etc) but don't have an automatic savings plan then just spend the time setting that up. If you already have all of this in place, then congratulations! I'd love to hear about how long you've been doing it and who you use and if you like them.

(Just to be clear I get no actual benefit from this other than seeing my friends, family and the world be a little better off)