M1 Finance is Now FREE...But There's a CATCH! (Quiz: Are YOU Getting Scammed?!)

M1 Finance Review 2024: Free Investing... with a Catch?

M1 Finance has exploded in popularity with its promise of fee-free, customized investing. But is this robo-advisor too good to be true? 🤔 In this in-depth review, we'll unpack M1 Finance's features, fees, pros, and cons to see if it's the right fit for YOUR investment journey.

What is M1 Finance?

M1 Finance is a hybrid platform combining automated investing with DIY control. Think of it as a robo-advisor for hands-on investors who want to design their own portfolios (using "Pies") while automating tasks like rebalancing.

The Big News: Fee Changes & What They Mean for You

M1 Finance recently shook things up by dropping its M1 Plus premium plan and making its core features available to all users. But there's a catch:

- No Monthly Fee... IF: You have a total account balance of $10,000+ across all M1 accounts OR an active M1 Personal Loan.

- $3 Monthly Fee: Applies if your total balance is below $10,000 and you don't have an M1 Personal Loan.

Why Choose M1 Finance? Potential Benefits:

- Unmatched Customization: M1's "Custom Pies" let you build portfolios from scratch using a vast selection of stocks, ETFs, and even cryptocurrency.

- Fractional Shares: Invest in expensive stocks with any dollar amount, ensuring your money is always fully invested.

- Automatic Rebalancing: Maintain your desired asset allocation effortlessly as your portfolio grows.

- Margin Loans: Access borrowing power with competitive interest rates (7.25% for M1 users).

M1 Finance's Drawbacks: What to Consider:

- Not for Beginners: M1's hands-on approach may overwhelm those new to investing.

- Limited Financial Planning: Don't expect goal-setting tools or access to human financial advisors.

- No Tax-Loss Harvesting: While M1 minimizes taxes during withdrawals, it lacks a dedicated tax-loss harvesting feature.

Is M1 Finance Right for YOU?

M1 Finance is ideal for experienced investors who:

- Prefer building and managing their portfolios.

- Value automation for rebalancing and investing.

- Are comfortable with a DIY approach to financial planning.

What do YOU think about M1 Finance's recent changes? Let us know in the comments below! Don't forget to like this video and subscribe for more in-depth robo-advisor reviews.

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Видео M1 Finance is Now FREE...But There's a CATCH! (Quiz: Are YOU Getting Scammed?!) канала FinTech-Robo Advisors-Wealth Management-Beginners