4 Radically Simple Places to Invest Your Money

Knowing how to invest in the financial markets can be confusing, because there isn’t a one-size-fits-all solution. To help, Money Girl reveals her favorite radically simple and innovative places to invest money right now - no matter if you have lots to spare, or can only afford to set aside a few dollars each month.

Laura Adams, MBA
7-minute read
Episode #390

Place #4: FutureAdvisor

The place(s) you choose to invest money will affect your customer experience, investment options, amount and quality of advice you can get, and fees you have to pay.

FutureAdvisor is an online investment advisor that manages investments you already own, or new ones that you purchase through them, such as regular brokerage account or an IRA.

Their goal is to provide quality financial advice to ordinary Americans. They offer complete, top tier portfolio management based on unbiased advice, diversification, tax-efficiency, and low-cost index funds.

Think of FutureAdvisor as a management layer you add over your existing accounts to help you maximize return. They use computer modeling to analyze your investments, and then recommend the best way to allocate your money.

They work through 2 well-known brokerage houses: Fidelity and TD Ameritrade. So if you have accounts at other places, FutureAdvisor does the paperwork to consolidate your investments there. You’ll pay a 0.5% annual fee for the investments they manage.

The Best Place to Invest Money

The place(s) you choose to invest money will affect your customer experience, investment options, amount and quality of advice you can get, and fees you have to pay.

You’re not limited to one type of investing account or service. For instance, you could have a retirement plan at work, open up an IRA with Betterment or FutureAdvisor, and have a regular investing account through Acorns or Aspiration.

You can max out both a retirement plan at work and an IRA every year. However, depending on your income, you might not get 100% of the tax benefit for an IRA when you or your spouse also have a retirement plan at work. 

But no matter your situation, you can always invest any amount of money in a taxable investing account, in addition to what you contribute to a tax-advantaged retirement account.

As I mentioned, these recommendations are just a few of the many places to invest. But I hope they give you some ideas and inspiration about how simple investing really can be!

So get started by doing some research, and using at least one of them to achieve your short- or long-term financial goals this year.

More Money Resources

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A Checklist to Measure Your Personal Finance Success

Investment Tips: How and Where to Invest (the Easy Way!)

3 Money Mindset Tips and Tools for Surefire Financial Success

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About the Author

Laura Adams, MBA

Laura Adams received an MBA from the University of Florida. She's an award-winning personal finance author, speaker, and consumer advocate who is a frequent, trusted source for the national media. Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers is her newest title. Laura's previous book, Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love, was an Amazon #1 New Release. Do you have a money question? Call the Money Girl listener line at 302-364-0308. Your question could be featured on the show.