Commercial real estate investing can be an excellent way to grow your nest egg, although it’s not without risks. The big risk? Commercial real estate requires large amounts of up-front capital to purchase a property. In order to properly diversify your portfolio you should own multiple properties, various types of properties (e.g., apartment complexes, strip malls, office space, etc.) and in multiple locations.
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SigFig was developed by the same group who developed Wikinvest, and the company is a registered investment advisor. They recently updated their offerings from just the free investment advice and account aggregation, to offer three different types of services: asset management, diversified income and portfolio tracking.
Robo-advisors seem to be the wave of the future — each of them offering something different to entice investors. But one of the robo-advisors, Wealthfront, is making moves to be one of the best services, especially for tax-efficient investing. In a sea of robo-advisors, Wealthfront is quickly becoming a frontrunner. What Is Wealthfront? Wealthfront is a robo-advisor with an emphasis on taxable accounts but also works well with IRAs. Wealthfront uses Modern Portfolio Theory (MPT) to create an automated asset allocation.
Like many people this time of year, I’m thinking about my financial goals and resolutions for the New Year. Last year was the first year I diligently tracked each and every expense, using a trusty Excel spreadsheet. While I’ve been pretty good at using my system, it’s not a perfect system by any means. So I’ve been interested to see how Mint.com will work in addition to my spreadsheet. Mint is a FREE online personal finance service similar to Quicken.
For many of us, investing can seem overly complicated and somewhat intimidating if you don’t know the ins and outs. But Acorns intends to simplify and demystify this process through their revolutionary mobile app. The father-son team, who are based in California, created Acorns with the intention of removing any mental roadblocks or anxiety about becoming a regular investor. With help from the father of Modern Portfolio Theory, Dr. Harry Markowitz, Acorns recommends optimized portfolios and keeps them on track with automatic rebalancing and dividend reinvestment.
What Is E*TRADE? E*TRADE Securities is the granddaddy of online discount brokerage houses. I opened my first brokerage account with them in 1996. I worked for a financial firm at the time and found it funny when the compliance officer asked me for my broker’s name and number. I stated I didn’t have a dedicated broker and I made my trades online with E*TRADE. They looked at me as if I had two heads; they had never heard of an online discount broker.
YNAB — also known as “You Need a Budget” — has grown to become one of the most popular budgeting software packages available. If you’re looking for a pure budgeting system — not a hybrid that incorporates other features like investing — then YNAB may be the app you’ve been looking for.
Just as crowd funding has come to investing and borrowing, it has also made its way to real estate investing. Realty Mogul is a real estate crowd funding platform where investors and real estate investment sponsors and borrowers come together to create mutually agreeable real estate investments. Although we found a few flaws in the system, overall it is easy to use and convenient. Here’s our full review.
One of the biggest news items last year in the personal finance space was Intuit finally releasing a new version of Quicken for Mac. The last time there was a true update for Quicken for Mac was in 2007. Quicken Essentials for Mac was released after that, but no one really takes it seriously. For many Mac users who like using Quicken, it has been necessary to run VMware Fusion and use the Windows version. For the most part, Intuit was ignoring the Mac platform, and that’s resulted in problems for Mac users who want to use Quicken.
As I’ve discussed in my Mint review, I think Mint is great as a budgeting tool but inadequate for investment planning. Mint is targeting people who are just starting out with their finances. I wished for a service that focused more on the investing side of personal finance: retirement, asset allocation and taxes. I discovered Personal Capital over four years ago, and it appears to have answered most of my wishes. Personal Capital has been awarded CNBC’s Disruptor 50 for two years in a row. In this detailed Personal Capital review, I’m going to discuss both parts of their service. They are really two services in one:
- A free personal financial aggregator
- A paid advisory service to manage your money