Ally Invest Review Worth Avoiding

>> YOUR LINK HERE: ___ http://youtube.com/watch?v=OzARsGUPXEM

Ally Invest along with Ally Bank are both popular choices for modern-day investors. We have been using Ally Bank for a few years and just started using Ally Invest in 2020. This video will highlight the good and not so good elements of Ally Invest as a service. • 1️⃣- First off, Ally Bank is an undeniably great banking option. They have historically been a leader in giving you some of the best savings account rates. They also have really handy features like buckets. Buckets allow you to divide up the money in your account for different purposes. For example, we use buckets to save for our next vehicle purchases. Ally also has a product we really like called “No Penalty CD’s”. A CD is a Certificate of Deposit, which gives you interest for leaving your money there at a fixed percentage, for a specific amount of time. However, typically a CD also will hit you with a penalty if you take that money out before the time period is up! The awesome thing about Ally’s No Penalty CD is that you can take the money out at any time, without a penalty, AND the rates they pay are on par with normal CD’s that do have the nasty fee. • 2️⃣- Ally Invest also charges no fees for you to invest in a self-managed portfolio. If you want to be in charge of what you invest in, this is an excellent option. • 3️⃣- Managed portfolios give you professional help, but force you into a particular asset allocation. This isn’t a terrible thing and it doesn’t cost you any fees. You just can’t choose to have 100% of the money you invest get put into the stock market. Ally keeps 30% of the money you send in a “high yield” savings account for you. In my opinion, the reason for this is to keep their “no fee” model intact while giving themselves a way to make a profit. • 4️⃣- Overall, I think Ally invest is a good option for investing. The user interface is clean and simple and only gives you the essential info you need. (Note not mentioned in the video: the desktop site can display more information than the mobile app, so that is a great option if you want to see all the details!) I prefer an investing app to NOT show me too many movements in the market over the short term because this typically encourages people (myself included) to trade more often. Studies have shown that the average investor gets a better return if they trade less! This is also why women typically earn better returns than men! • ===== • 💡If you have a topic you would like to see in a future video, leave me a comment! • ===== • My Investing Masterclass: https://www.udemy.com/course/investin... • My Free Newsletter • https://brendanevan.substack.com/ • Free Investing Checklist: • https://brendanevan.notion.site/New-I... • 👨‍💻Data made easy with Fennel, the superpowered investing app: Free trial without a credit card AND get 1-12 months free!: http://fennel.sjv.io/c/2906384/195947... • 🤿Want to dive deeper with an investing service built for the pros and available to everyone? Check out Interactive Brokers: https://www.interactivebrokers.com/mk... • ===== • • ⏱Handy Timeline: • 0:00 Intro • 0:28 Ally Bank • 1:10 Managed Portfolios • 1:45 Let's Talk Fees • 2:50 Self v. Managed • 3:15 UI • 3:50 Women beat men • 4:10 Information • 5:29 Summary • 5:45 Personal plans 2021 • == • 💰FREE STUFF: • 💰Yotta Savings: Use my link and we will both get 100 tickets! Just sign up with code BRENDAN4 or tap this link: https://withyotta.page.link/rXnbeHREF... • 💰Get 2 Free Stocks on WeBull (Valued up to $1600 when you deposit $100): • https://act.webull.com/po/PdEEGlxoilJ... • 💰Prize Pool: The newest gamified saving app, similar to Yotta, but with every prize being paid out every single month! Now with weekly drawings! Sign up and get a 10% bonus on top of all your prizes! Forever! Use code MQD33 or this link: https://links.getprizepool.com/USPaPg... • == • Consider Subscribing!: • 👍 / @brendanevan • == • 🎥 Personal Finance Videos: • 🎥Yotta Savings | Tax on Prizes: • Yotta Savings | Taxes on Prize Winnings • 🎥Yotta Savings Initial Impressions: • Yotta Savings Initial Impressions • 🎥What is an IRA? (For Beginners): • What is an IRA?! (For Beginners) • 🎥Backdoor Roth IRA (For Beginners) • Backdoor Roth IRA (For Beginners) • == • • #BrendanEvan #personalfinance #financialindependence • 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. • • Contact me here for business purposes: [email protected]

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