M1 Finance 2-Year Review (The Good, The Bad, and The Rating)

I’ve used M1 Finance now for 2 years and it’s finally time to do a full review! It’s a service I’ve recommended for years now, but have never made a comprehensive overview of both the good and bad things about it. I can confidently say that I use every service that is offered by M1 Finance as of this year too!

I started using M1 as another taxable brokerage account for investments over and above our tax advantaged retirement accounts. Then I opened an IRA for my wife with M1. Next I started another taxable brokerage account to use for my experiment throwing darts at a dartboard to pick stocks. (video link here for that one! Dartboard stock picking: Update after 3 months! https://youtu.be/J70_aYj6VPY) Just recently I opened a 4th account to start my SEP IRA. Towards the end of this video I explain what an SEP IRA is and why it’s awesome. All of these accounts were very easy to start with M1.

There are a few things about the app and their service in general that I don’t like. Check those out in the second half of this video. To assess a lot of different things in my life from finances to cars to bagels, I use spreadsheets. It’s a really fun way to keep a record of how good or bad something was and is something that is easily shareable too. I realized in making this video that we need a format for rating investing apps/services! So I made one! At the end of this video I go through the new rating system, it’s categories, and give an inaugural score to M1 Finance. Stick around for future reviews and ratings of other investing services/apps to see how they compare!

M1 finance links:

My SEP Pie of Victory: (The exact things I am investing in right now in my SEP IRA)
https://m1.finance/rB6iJ7dYbbHo

📈M1 Finance Investing: (Get $30 when you start investing today! To get it, invest at least $100 in an individual account or at least $500 in a retirement account)
https://m1.finance/td-bpuTpiT9T

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The Investing Apps I Recommend:
🐿Start investing with Acorns! Best app for beginners! Get $5 when you use my invite link: https://acorns.com/invite/DUH7FU

📊Get 2 free stocks with WeBull after you deposit $100! (The best app for getting free stocks. Yes, actually free!)
https://act.webull.com/kol-us/share.html?hl=en&inviteCode=AMf3xlrHs6sT
Or don't. No pressure!

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🎥 Investing Videos:
🐿Acorns 1-Year Review! [And My Actual Returns!] https://youtu.be/yTIEZrMjDCQ
🎥Best Investing Apps for Beginners in 2021: https://youtu.be/-owDfS3Q7kc
❓What EXACTLY Happens to Your Money When You Invest: https://youtu.be/U0xqegvIq7E

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💰The Savings Accounts I Recommend:
💰Yotta Savings: The savings account that feels more like a lottery! Use my link and we will both get 100 tickets! Just sign up with code BRENDAN4 or tap this link: https://withyotta.page.link/rXnbeHREFhNyGP3t9
💰Prize Pool: The newest "gamified" saving app, similar to Yotta. Sign up and get a 10% bonus on top of all your prizes forever! Use code MQD33 or this link: https://links.getprizepool.com/USPaPgpnXab
(These are affiliate links that may provide a small commission or bonus if you sign up using them. This is of course at no cost to you! I use both of these services.)

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#investing #M1Finance #BrendanFitnessandMoney
Disclaimer: Any financial or investing-related topics discussed on this channel are not from a professional investment advisor and are not financial advice for you. This is for entertainment purposes only.

⏱Handy Timeline:
0:00 Intro
0:23 The Good 1- Design
0:56 The Good 2- Ease
2:07 The Good 3- Fees and Commissions
3:01 The Good 4- Pie vs Cake
4:40 The Good 5- $ Weighted
5:55 The Good 6- Spend
6:23 The Good 7- Easy opening
7:30 The Good 8- Borrow
8:17 The Good 9- M1+
9:44 Not Good 1- Identity issues
10:46 Not Good 2- Digital wallet
11:27 Not Very Useful 1- Send check
11:48 Not Good 3- Initial acclimation
12:35 Mildly Annoying- Trade windows
13:44 Investing App Score
15:20 Conclusion

Contact me here for business purposes: Brendanbizinquiries@gmail.com

WHO AM I?
I'm Brendan, a Dad, trail runner, personal finance nerd, and lover of spreadsheets. I make videos about the basics of personal finance. I'm currently training for a 50k ultramarathon and investing often to become financially independent!

Find me on socials:
https://www.instagram.com/brendan_fitnessandmoney/

Gear I use for every video:
My main camera Fujifilm X-T4: https://amzn.to/2VojJjk
My main lens SLR Magic Cine 25mm: https://amzn.to/3fr3TvE
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Big light- Aputure 100d: https://amzn.to/2VboYmV
Small light- Aputure MC: https://amzn.to/3in9HIs
iPad I use to edit videos: https://amzn.to/3jgQV4t
“As an Amazon Associate I earn from qualifying purchases”
(It means Amazon pays me a small commission and it costs you nothing extra!)

Видео M1 Finance 2-Year Review (The Good, The Bad, and The Rating) канала Brendan Fitness and Money