High-net-worth individuals typically prefer a higher level of human interaction with their investing activities than what robo advisors offer. They’re willing to pay a relatively high management fee — certainly higher than the 0.25% to 0.50% charged by robo advisors — to get that service level. But when it comes to fees, how high is too high? And how much are you willing to pay for personal service, against the loss of investment return that results from high fees?
Thanks to the advent of the internet and mobile technology, the world of banking has undergone a major transformation… and it’s not slowing down anytime soon. As a consumer, you may be wondering what changes you can expect to see as the banking industry continues to evolve. Today we are going to look at five predictions for the future of banking. Strap yourself into your self-driving car, put on your VR goggles, and dive into this guide to the future of banking.
Choosing the right bank is important. Going to the wrong bank can cost you in fees, lost interest and inconvenience every time you need to interact with your financial institution. It used to be tough to know which banks offered the best products and charged the lowest fees. These days, you can find great reviews online, including our list of top banks here at Investor Junkie. If you’re looking to move to a new bank, be sure to consider the important questions below before signing up.
If you’re unhappy with your bank for any reason — or if you just found a new bank you think is a lot more exciting — you may be interested in switching banks. While the thought of switching banks may be intimidating, it’s a lot easier than most people realize. Following these six simple steps, you can switch banks with ease. You’ll just need to sign up for your new account, update automatic payments and get some bills set up, and you’ll be on your way.
When you get an email that your bank statement is ready or it shows up in your mailbox, what do you do? If you are like most people, those bank statements go right to the recycle bin and those emails never get read. But there are some big benefits from reading your bank statements. Follow along to learn some important benefits of reading your bank statement and what to watch out for along the way.
The SEC defines penny stocks as stocks that trade for less than $5. A trader can buy a large number of shares at a relatively low cost, and a change of just a few cents per share can double the value of your investment or more.
Who doesn’t want to be the person who hit it right on a hot stock and made big money? If you are interested in investing in individual stocks and trust your ability to analyze, understand what you buy and beat the market, you may want a stock picking service to help you narrow down from the list of thousands of possible stocks to the few you may want to buy. This guide explains the pros and cons of some top free stock picking services. Read on to learn more about which free stock picking service may best meet your needs.
When I was 16, my parents offered me the use of a hand-me-down car, but only if I paid for gas, maintenance and insurance. That meant a job and money. So I hopped in the car with my mom and drove over to the local grocery store and signed up for a “free checking for life” account at the in-branch bank. Like any teen, my first checking account was a big step in my personal finance journey. If you are a parent or a teen and want to know more about how teens should start with banking, follow along with this guide to learn more.
When you want to put cash away for a while with virtually zero risk, a certificate of deposit, or CD, is a good option. While current interest rates can be pretty low, the accounts are FDIC insured and often beat interest rates from savings accounts. A CD ladder helps you avoid locking all of your funds away for too long while capturing the interest rate benefit and safety of a CD. If that sounds useful to you, follow along with this guide to learn what a CD ladder is and how to set one up .
Who of us hasn’t dreamed of moving abroad at some point? For some, the lure of exotic beaches or cosmopolitan cities has proved too great, and we’ve found ourselves living abroad as a U.S. expat. Moving away from the United States can be an amazing experience. It may lead to a lower cost of living, new career opportunities and the chance to immerse yourself in a new culture. For retirees, it’s a decision that’s growing in popularity. But when you move abroad, you also run into a new host of challenges, including how to manage your investments. Read on to learn about the best ways for U.S. expats to invest while living abroad.