Thank you so much for making this video! Again, I use M1 primarily for my investing right now but for banking and everything else SoFi makes it so much easier to have everything in one place.
at 17:20 you have a bit of a misunderstanding of the expense ratio with the fund. Yes, the fee is absurdly high compared to stock ETF funds. But Venture capital funds always charge a 2% management fee (yearly) and a 20% carry. interval funds are unable to charge carry fees so the 2.7 -3.5% expense ratio hopefully now has more context. You can't compare the fees the the fees of stocks because it is a different asset class. Because of that, the expected return is much higher as well (30%+ annually) is the benchmark that venture generally tries to achieve. obviously not all funds hit that, but i think you have to look at the fees in this context to better understand the fees. ( I am a masters of finance student in college and have done multiple venture capital internships and real estate private equity internships so i understand how the system works.) Important to know, I'm not advocating to dump money into these funds, I'm just trying to provide context around why these fees are higher. They still are highly risky, but know that you aren't getting ripped off as much as you originally thought.
Thanks for your insight Landon! Just to double check our understanding, those venture funds are expected to earn 30%+ per year, but in this particular instance, can't we view their performance openly like any other index/mutual fund? None of these have come close to 30% if so
25:50 , SoFi Robo advisor is not really free. SoFi Robo advisor uses a lot of SoFi’s own ETFs over Vanguard. SoFi ETFs have a 0.19% expense ratio. So that’s the actual fee you are paying for the Robo advisor. Some ETFs have this fee waved temporarily. But when investing for the long term, this is something to keep in mind. SoFi ETFs also underperform Vanguards ETFs.
My job's HR software lets me split my direct deposit and I only put a small bit into my SoFi savings and that's enough to get me the whole set of bonuses for direct deposit. Anyone else who is able to do that with their direct deposit should consider that.
I think it's because basically anyone can be an affiliate of theirs so why not use the link? There's not much hidden or unclear on their website though so I don't think you have to rely on reviews for SoFi as much as others.
I just got an account last week what a pain to get money in the account and they are so slow but the vaults are so cool but the spam in my email and more commercials and advertising than anything I have seen. But the 4.3 percent and the 300 is cool with direct deposit of more than 5k. Am still on the fence about it but for my needs I think it is going to work.
Bro let’s get a updated video on acorns for people that don’t feel like manual trading is it worth it? The custodial account they have is that worth it?
I’ve made 7 or 8 already this year. Here’s a playlist: Acorns Investing (2024 Update) th-cam.com/play/PLLVqJfJO0MBsdvCdBTDJ_i6v8sh6Yz8kp.html But I am working on 2-3 more as we speak too
I've had them incorrectly re-invest a dividend 2x, even though I had specified to NOT reinvest. This resulted in fractional shares which cannot be sold on their website. My phone will not run their app, but I have to wonder why I even need it. I'm getting out of SoFi, they are horrible compared to ETrade and Fidelity.
Whatever you wanna look at more! In the end it doesn't matter nearly as much as your engagement with the idea of investing. Which service makes you wanna save and invest more?
One thing I like is Sofi is an actual full fledged bank…..these other fintechs are starting to scare me,Especially after the whole yotta thing. You come to realize your money may not be as safe as you think.
@@1977NOBODY No, that's for settled funds. There's definitely at least a 2-3 day delay for settled funds to go from "invest" to savings or checking. Why? They're probably earning interest on that money while it's in between accounts.
No you can get UP TO $1k, and I mentioned the odds of that happening being extremely small per their website. "†Customer must fund their Active Invest account with at least $25 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%"
Thank you so much for making this video! Again, I use M1 primarily for my investing right now but for banking and everything else SoFi makes it so much easier to have everything in one place.
at 17:20 you have a bit of a misunderstanding of the expense ratio with the fund. Yes, the fee is absurdly high compared to stock ETF funds. But Venture capital funds always charge a 2% management fee (yearly) and a 20% carry. interval funds are unable to charge carry fees so the 2.7 -3.5% expense ratio hopefully now has more context. You can't compare the fees the the fees of stocks because it is a different asset class. Because of that, the expected return is much higher as well (30%+ annually) is the benchmark that venture generally tries to achieve. obviously not all funds hit that, but i think you have to look at the fees in this context to better understand the fees.
( I am a masters of finance student in college and have done multiple venture capital internships and real estate private equity internships so i understand how the system works.)
Important to know, I'm not advocating to dump money into these funds, I'm just trying to provide context around why these fees are higher. They still are highly risky, but know that you aren't getting ripped off as much as you originally thought.
Thanks for your insight Landon!
Just to double check our understanding, those venture funds are expected to earn 30%+ per year, but in this particular instance, can't we view their performance openly like any other index/mutual fund? None of these have come close to 30% if so
25:50 , SoFi Robo advisor is not really free. SoFi Robo advisor uses a lot of SoFi’s own ETFs over Vanguard.
SoFi ETFs have a 0.19% expense ratio. So that’s the actual fee you are paying for the Robo advisor. Some ETFs have this fee waved temporarily. But when investing for the long term, this is something to keep in mind.
SoFi ETFs also underperform Vanguards ETFs.
A bit of in house marketing, I expect no less honestly. The "price" you pay for offloading the work of checking out fees I guess
My job's HR software lets me split my direct deposit and I only put a small bit into my SoFi savings and that's enough to get me the whole set of bonuses for direct deposit. Anyone else who is able to do that with their direct deposit should consider that.
How do you switch to candlesticks?
My only hesitation with sofi is that everyone who reviews it is promoting affiliate links. I don’t trust that.
I think it's because basically anyone can be an affiliate of theirs so why not use the link? There's not much hidden or unclear on their website though so I don't think you have to rely on reviews for SoFi as much as others.
I just got an account last week what a pain to get money in the account and they are so slow but the vaults are so cool but the spam in my email and more commercials and advertising than anything I have seen. But the 4.3 percent and the 300 is cool with direct deposit of more than 5k. Am still on the fence about it but for my needs I think it is going to work.
Bro let’s get a updated video on acorns for people that don’t feel like manual trading is it worth it? The custodial account they have is that worth it?
I’ve made 7 or 8 already this year. Here’s a playlist:
Acorns Investing (2024 Update)
th-cam.com/play/PLLVqJfJO0MBsdvCdBTDJ_i6v8sh6Yz8kp.html
But I am working on 2-3 more as we speak too
Does anyone have issues with SoFi giving incorrect dividend payments?
I've had them incorrectly re-invest a dividend 2x, even though I had specified to NOT reinvest. This resulted in fractional shares which cannot be sold on their website. My phone will not run their app, but I have to wonder why I even need it.
I'm getting out of SoFi, they are horrible compared to ETrade and Fidelity.
So if you had to choose as a new investor should I go with acorns or sofi (auto investing )
Whatever you wanna look at more! In the end it doesn't matter nearly as much as your engagement with the idea of investing. Which service makes you wanna save and invest more?
Id do sofi for no fees but if you want round ups acorns. Just know you'll have a monthly fee if $3 minimum with acorns
Fidelity.
One thing I like is Sofi is an actual full fledged bank…..these other fintechs are starting to scare me,Especially after the whole yotta thing. You come to realize your money may not be as safe as you think.
M1 needs to bring back their debit cards hopefully they do that later for their new cash account
The alternative investing is a really cool ad to let everyday investors have access.
When i tried to move money out of brokerage to checking account within sofi , it took over a week each time lol.
That’s normal especially if they have to sell your investments….,They have to wait until they settle then move the money where you want
Fidelity keeps my sweep cash in a money market fund that pays 4.5%, compounded weekly. No need to transfer my cash to another account like SoFi does.
@@1977NOBODY No, that's for settled funds. There's definitely at least a 2-3 day delay for settled funds to go from "invest" to savings or checking. Why? They're probably earning interest on that money while it's in between accounts.
I really like your content. That's all. We are very similar.
I think you missed where they said they will give 1000 for free just by you investing alitte that's alot free money 🔥
No you can get UP TO $1k, and I mentioned the odds of that happening being extremely small per their website.
"†Customer must fund their Active Invest account with at least $25 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%"
Free advise? And their experience? Answering phones at $15.00 per hour? It’s better to pay for someone a fee.
M1 > SoFi
Sofi is an actual bank M1 is not a bank and your money is less safe……look what happened to yotta😂I’ll stick with actual banks these days
0:48
And I’m not interested anymore.
Aint none wrong with diversity bruh lol
Diversify your wealth