[{"@context":"https:\/\/schema.org\/","@type":"Article","@id":"https:\/\/moneydoneright.com\/passive-income\/stock-investing\/betterment-review\/#Article","mainEntityOfPage":"https:\/\/moneydoneright.com\/passive-income\/stock-investing\/betterment-review\/","headline":"Betterment Review","name":"Betterment Review","description":"Betterment Basics: Betterment is a robo-advisor designed to invest your money through an algorithm...","datePublished":"2020-01-01","dateModified":"2025-04-20","author":{"@type":"Person","@id":"https:\/\/moneydoneright.com\/author\/logan-allec\/#Person","name":"Logan Allec, CPA","url":"https:\/\/moneydoneright.com\/author\/logan-allec\/","identifier":4,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Money Done Right","logo":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","width":488,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/betterment-review.jpg","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/betterment-review.jpg","height":460,"width":1900},"url":"https:\/\/moneydoneright.com\/passive-income\/stock-investing\/betterment-review\/","video":[{"@context":"http:\/\/schema.org\/","@type":"VideoObject","@id":"https:\/\/www.youtube.com\/watch?v=RqaKf5zkN-8#VideoObject","contentUrl":"https:\/\/www.youtube.com\/watch?v=RqaKf5zkN-8","name":"Betterment Review | Walkthrough | Pros + Cons | Is It Worth It?","description":"In this Betterment review for the year 2021, I cover everything you need to know about the popular Betterment investing platform.  I'll give you a complete Betterment walkthrough in this video, covering how to set up a Betterment account, the Betterment portfolios, the Betterment fees, and more.  I'll also give you the Betterment pros and cons and tell you what kinds of people Betterment is good for and what kinds of people Betterment probably isn't the best for.\n\n\u27a1\ufe0f MY BETTERMENT LINK: https:\/\/moneydoneright.com\/betterment\/\n\n\u27a1\ufe0f MY DOSH LINK: https:\/\/moneydoneright.com\/dosh\/\n\n\ud83d\udcc4 SMART BETA ARTICLE: https:\/\/betterment.evyy.net\/c\/463361\/979972\/2299?u=https%3A%2F%2Fwww.betterment.com%2Fresources%2Fsmart-beta-portfolio-strategy%2F\n\n\ud83d\udcc4 TAX LOSS HARVESTING ARTICLE: https:\/\/betterment.evyy.net\/c\/463361\/979972\/2299?u=https%3A%2F%2Fwww.betterment.com%2Fresources%2Ftax-loss-harvesting-methodology%2F\n\n\ud83d\udcc8 OTHER INVESTMENT APP REVIEWS:\n- M1 Finance Review: https:\/\/youtu.be\/XNMhp9xeNq8\n- Robinhood Review: https:\/\/youtu.be\/El0wG9FMuyk\n- Acorns Review: https:\/\/youtu.be\/B-yMVEjWn3A\n- Stash Review: https:\/\/youtu.be\/TD6EJXomrFM\n- Public.com Review: https:\/\/youtu.be\/q6U8gGv5E1o\n- Dough.com Review: https:\/\/youtu.be\/Y28NuHC1DQA\n- Fundrise Review: https:\/\/youtu.be\/lXFGfnkSlns\n\n\ud83d\udcf9 OTHER VIDEOS MENTIONED:\n- Investing For Beginners: https:\/\/youtu.be\/oAd4Jfzjpq0\n- Using Crypto Losses Against Meme Stock Gains: https:\/\/youtu.be\/s_MaKhrkWtc\n- 529 Accounts: https:\/\/youtu.be\/Njo8OvO0IhI\n- Roth IRAs vs. Traditional IRAs: https:\/\/youtu.be\/kUiY-QnrSu8\n\nTable of Contents:\n0:00 Betterment Review\n0:59 What Is Betterment?\n1:26 Why Is Betterment Called a Robo-Advisor?\n1:50 Betterment App\n2:02 Betterment Sign-Up Offer\n2:47 Betterment Setup\n5:27 Betterment Investing Setup\n6:29 Betterment Socially Responsible Investing (SRI) Portfolio\n7:49 BettermentETF Expense Ratios\n9:20 Betterment Climate Impact Portfolio\n9:38 Betterment Broad Impact Portfolio\n9:52 Betterment Goal Details\n10:50 Other Betterment Investment Options\n11:51 Betterment Smart Beta Portfolio by Goldman Sachs\n12:30 Betterment BlackRock Target Income Portfolio\n12:40 Betterment Flexible Portfolio\n13:15 Can You Change Your Betterment Portfolio Strategy Later?\n13:40 Betterment Portfolios and Goals Interaction\n13:59 Betterment Portfolio Auto-Adjust\n14:52 Betterment Projections Tab\n15:54 ETFs That Make Up Betterment Portfolios\n16:55 Betterment Allocation Over Time\n17:13 Exploring Betterment Investing Goals\n18:21 Betterment's Holistic Approach\n18:59 Depositing Money Into Betterment\n19:47 My Betterment Investing Strategy\n20:08 Betterment Projected Balance and Compound Growth\n20:59 Depositing $100\/Month Into Betterment\n21:21 Rolling Over 401(k) Into Betterment\n21:33 Betterment Desktop Display\n21:58 Withdrawing Money From Betterment\n22:09 Betterment Referral Program\n23:03 Betterment Joint Checking\n23:19 Betterment Cash Back Rewards\n24:09 Betterment Tax Loss Harvesting\n26:39 Syncing External Accounts in Betterment\n28:49 Assigning Beneficiaries in Betterment\n29:35 Betterment Fees (Digital Plan and Premium Plan)\n31:33 Adding Spousal Accounts to Betterment\n31:50 Betterment Tax-Coordinated Portfolio\n32:44 Betterment Safety Net Goals\n32:56 Total Net Worth in Betterment\n33:13 Betterment Cash Reserve Account\n34:12 Betterment Goals\n34:27 Saving for Short-Term Goals in Betterment\n34:51 Saving for College in Betterment vs. 529 Plan\n36:14 Saving for Retirement With IRAs in Betterment\n36:39 Traditional IRA vs. Roth IRA vs. SEP IRA\n37:17 Betterment Safety Net Goal\n37:28 Betterment Transfer Screen\n37:41 Betterment Activity Screen\n37:47 Betterment Statements and Tax Documents\n37:57 Using Betterment for Tax Planning\n38:30 Other Betterment Settings\n38:41 Betterment Concierge Service\n39:15 Betterment Hourly Calls With CFPs\n39:59 Betterment Rewards Center\n40:10 Betterment Cell Phone Protection\n40:41 Betterment Pros\n42:28 Betterment Cons\n44:09 Who Betterment Is Good For\n45:19 Who Betterment Isn't Good For\n\n#investing #investingapp #betterment","thumbnailUrl":["https:\/\/i.ytimg.com\/vi\/RqaKf5zkN-8\/default.jpg","https:\/\/i.ytimg.com\/vi\/RqaKf5zkN-8\/mqdefault.jpg","https:\/\/i.ytimg.com\/vi\/RqaKf5zkN-8\/hqdefault.jpg","https:\/\/i.ytimg.com\/vi\/RqaKf5zkN-8\/sddefault.jpg","https:\/\/i.ytimg.com\/vi\/RqaKf5zkN-8\/maxresdefault.jpg"],"uploadDate":"2021-07-19T20:06:35+00:00","duration":"PT46M39S","embedUrl":"https:\/\/www.youtube.com\/embed\/RqaKf5zkN-8","publisher":{"@type":"Organization","@id":"https:\/\/www.youtube.com\/channel\/UCQ9WUXlSuLlbi5BLkgtEUEA#Organization","url":"https:\/\/www.youtube.com\/channel\/UCQ9WUXlSuLlbi5BLkgtEUEA","name":"Logan Allec","description":"Logan Allec is a CPA and the founder of Choice Tax Relief, which specializes in helping people with their IRS and state tax 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I'll give you all the M1 Finance pros and cons on this platform and tell you why I continue to still use this program, DAILY \u2014 despite its drawbacks.  Have you ever used M1 Finance?  If not, which investing platform do you use and why?\n\n\u27a1\ufe0f M1 FINANCE $50 BONUS LINK: https:\/\/moneydoneright.com\/m1finance\/\n\n\ud83c\udfa5 MORE INVESTING VIDEOS:\n\n\u27a1\ufe0f Investing for Beginners: https:\/\/youtu.be\/oAd4Jfzjpq0\n\n\u27a1\ufe0f Roth IRA vs. Traditional IRA: Similarities, Differences, and More!: https:\/\/youtu.be\/kUiY-QnrSu8\n\n\ud83d\udcb0\ud83c\udf93 THE MONEY COURSE (Use Coupon Code YOUTUBE For 50% Off!):\nhttps:\/\/www.loganeducation.com\/offers\/FUmjEuPB\/checkout\n\n#investing #stocks #m1finance","thumbnailUrl":["https:\/\/i.ytimg.com\/vi\/XNMhp9xeNq8\/default.jpg","https:\/\/i.ytimg.com\/vi\/XNMhp9xeNq8\/mqdefault.jpg","https:\/\/i.ytimg.com\/vi\/XNMhp9xeNq8\/hqdefault.jpg","https:\/\/i.ytimg.com\/vi\/XNMhp9xeNq8\/sddefault.jpg","https:\/\/i.ytimg.com\/vi\/XNMhp9xeNq8\/maxresdefault.jpg"],"uploadDate":"2021-02-26T17:00:15+00:00","duration":"PT13M35S","embedUrl":"https:\/\/www.youtube.com\/embed\/XNMhp9xeNq8","publisher":{"@type":"Organization","@id":"https:\/\/www.youtube.com\/channel\/UCQ9WUXlSuLlbi5BLkgtEUEA#Organization","url":"https:\/\/www.youtube.com\/channel\/UCQ9WUXlSuLlbi5BLkgtEUEA","name":"Logan Allec","description":"Logan Allec is a CPA and the founder of Choice Tax Relief, which specializes in helping people with their IRS and state tax debt.","logo":{"url":"https:\/\/yt3.ggpht.com\/43_VKqrbO06RGMcxfdQbDXosrkVRq1yf5QgSQEiR4ILUGWV9fJtTh0o2ftYMYqVo6PwnEOPRdg=s800-c-k-c0x00ffffff-no-rj","width":800,"height":800,"@type":"ImageObject","@id":"https:\/\/www.youtube.com\/watch?v=XNMhp9xeNq8#VideoObject_publisher_logo_ImageObject"}},"potentialAction":{"@type":"SeekToAction","@id":"https:\/\/www.youtube.com\/watch?v=XNMhp9xeNq8#VideoObject_potentialAction","target":"https:\/\/www.youtube.com\/watch?v=XNMhp9xeNq8&t={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"},"interactionStatistic":[[{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=XNMhp9xeNq8#VideoObject_interactionStatistic_WatchAction","interactionType":{"@type":"WatchAction"},"userInteractionCount":43697}],{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=XNMhp9xeNq8#VideoObject_interactionStatistic_LikeAction","interactionType":{"@type":"LikeAction"},"userInteractionCount":1369}]},{"@context":"http:\/\/schema.org\/","@type":"VideoObject","@id":"https:\/\/www.youtube.com\/watch?v=Njo8OvO0IhI#VideoObject","contentUrl":"https:\/\/www.youtube.com\/watch?v=Njo8OvO0IhI","name":"529 Plans EXPLAINED: Tax-Advantaged College Savings Account","description":"In this video I go over 529 plans: what they are, their pros and cons, what expenses qualify, how to set one up, and more!\n\nAlso, my wife did my hair for this video...and made a video about it!  Here's the link: https:\/\/youtu.be\/NjekI_NtjQQ\n\nCollegeBacker ($25 Bonus for a New 529 Plan): http:\/\/go.moneydoneright.com\/CollegeBacker\n\n0:00 Happy 529 Day!\n0:40 College Savings Options\n3:57 529 Plan vs. Roth IRA\n5:10 How a 529 Plan Works\n5:42 Who Administers 529 Plans?\n6:06 The Two Kinds of 529 Plans\n6:22 Prepaid Tuition Programs\n9:07 What Expenses Qualify?\n9:33 Using 529 Plans for K-12 Tuition\n10:39 Maximum 529 Plan Contributions\n12:38 Who Can Start a 529 Plan?\n12:51 Should Parents or Grandparents Set Up 529 Plan?\n13:55 How Do You Start a 529 Plan?\n15:04 What We Use for Our 529 Plan\n16:37 Can You Change a 529 Plan Beneficiary?\n18:53 529 Plans and Federal Taxes\n22:06 The 10% Penalty\n23:53 AOTC, LLC, and Tuition and Fees Deduction\n25:10 529 Plans and State Taxes\n26:35 529 Plan Pros and Cons\n28:02 See Ya Later!","thumbnailUrl":["https:\/\/i.ytimg.com\/vi\/Njo8OvO0IhI\/default.jpg","https:\/\/i.ytimg.com\/vi\/Njo8OvO0IhI\/mqdefault.jpg","https:\/\/i.ytimg.com\/vi\/Njo8OvO0IhI\/hqdefault.jpg","https:\/\/i.ytimg.com\/vi\/Njo8OvO0IhI\/sddefault.jpg","https:\/\/i.ytimg.com\/vi\/Njo8OvO0IhI\/maxresdefault.jpg"],"uploadDate":"2020-05-30T00:42:38+00:00","duration":"PT28M30S","embedUrl":"https:\/\/www.youtube.com\/embed\/Njo8OvO0IhI","publisher":{"@type":"Organization","@id":"https:\/\/www.youtube.com\/channel\/UCQ9WUXlSuLlbi5BLkgtEUEA#Organization","url":"https:\/\/www.youtube.com\/channel\/UCQ9WUXlSuLlbi5BLkgtEUEA","name":"Logan Allec","description":"Logan Allec is a CPA and the founder of Choice Tax Relief, which specializes in helping people with their IRS and state tax debt.","logo":{"url":"https:\/\/yt3.ggpht.com\/43_VKqrbO06RGMcxfdQbDXosrkVRq1yf5QgSQEiR4ILUGWV9fJtTh0o2ftYMYqVo6PwnEOPRdg=s800-c-k-c0x00ffffff-no-rj","width":800,"height":800,"@type":"ImageObject","@id":"https:\/\/www.youtube.com\/watch?v=Njo8OvO0IhI#VideoObject_publisher_logo_ImageObject"}},"potentialAction":{"@type":"SeekToAction","@id":"https:\/\/www.youtube.com\/watch?v=Njo8OvO0IhI#VideoObject_potentialAction","target":"https:\/\/www.youtube.com\/watch?v=Njo8OvO0IhI&t={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"},"interactionStatistic":[[{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=Njo8OvO0IhI#VideoObject_interactionStatistic_WatchAction","interactionType":{"@type":"WatchAction"},"userInteractionCount":10094}],{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=Njo8OvO0IhI#VideoObject_interactionStatistic_LikeAction","interactionType":{"@type":"LikeAction"},"userInteractionCount":294}]}],"about":["Stocks"],"wordCount":5693,"articleBody":"\t    \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tBetterment\t\t\t\tBasics: Betterment is a robo-advisor designed to invest your money through an algorithm that\u2019s based on your priorities. The platform is suitable for those who prefer a hands-off approach to investing, and those who want to view all of their financial accounts on one platform. Pros: Betterment\u2019s investment algorithm has a holistic approach, the .25% management fee is reasonably affordable, there\u2019s no investment minimum, and your money will most likely be invested towards low-cost index fund ETFs. Cons: You could do whatever Betterment is doing for you at no cost, the platform optimizes using their management services so there might be a potential conflict of interest, and there are confusing elements throughout the account setup process. \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tUser Experience\t\t\t\t\t\t\t\t\t\t7\/10\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tFees\t\t\t\t\t\t\t\t\t\t9\/10\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tInvestment Options\t\t\t\t\t\t\t\t\t\t10\/10\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tResearch Tools\t\t\t\t\t\t\t\t\t\t8\/10\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tAccount Options\t\t\t\t\t\t\t\t\t\t8\/10\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tCustomer Support\t\t\t\t\t\t\t\t\t\t9\/10\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tWelcome Offer:Fee waived for one month if you deposit at least $15,000 into your account within the first 45 days of openingFees:0.25% annual fee for Digital Investing and 0.40% annual fee for Premium InvestingMinimum Investment:$0App:Yes\t\t\t\tOur Review Methodology        We may receive a commission if you sign up or purchase through links on this page.  Here's more information.    Table of ContentsToggleWhat Is Betterment?Sign-Up BonusHow Does Betterment Work?How Betterment Invests Your MoneyFeatures and BenefitsBetterment Fees and PlansIs Betterment Safe?Betterment Pros and ConsHow is Betterment Different?Betterment AlternativesIs Betterment Worth It?How to Use Betterment (Step-by-Step Guide)Final Thoughts on BettermentFrequently Asked QuestionsWhat Is Betterment?Betterment is a robo-advisor that\u2019s designed to invest your money with your overall financial life in mind.It\u2019s one of the most popular robo-advisors out there \u2014 but does it get the job done?For this review, I actually tried investing through the Betterment app to see for myself.In this article, I give you a full walkthrough of the Betterment platform, discuss Betterment\u2019s pros and cons, and share a few examples of who the platform would or would not be a good fit for.If you want to watch a video review of Betterment instead, check out my Youtube video below!Sign-Up BonusBetterment charges a small fee to manage your money, but currently, if you deposit at least $15,000 into your account in your first 45 days, Betterment will waive that fee for your first month.If you deposit at least $100,000, you\u2019ll get six months free, and if you deposit at least $250,000, you\u2019ll get one year free.How Does Betterment Work?Betterment is a robo-advisor service: You deposit money, and the platform will manage it for you in exchange for a fee.You can essentially do everything that Betterment is doing by yourself, but that will require time, effort, and making periodic adjustments.Betterment promises a hands-off, low-involvement relationship with investing.Below is a more in-depth look at Betterment\u2019s features.Tax-Coordinated PortfolioWith Betterment, you can set up a tax-coordinated portfolio which claims to boost after-tax returns by up to 15% over 30 years.Betterment does this by organizing your portfolio so that your investments generating the most taxable income are located in a tax-advantaged account (like an IRA), and your investments generating less taxable income are located in a taxable brokerage account.I can\u2019t personally speak to how effective this method is because I didn\u2019t try it, but this sounds like a good option for those who want to start a retirement account with Betterment.Tax-Loss HarvestingThrough tax-loss harvesting with Betterment, you can sell stocks at a capital loss to offset any of your capital gains throughout the year.To do this, Betterment will automatically sell securities in your account with losses so you can use them on your tax return to reduce your capital gains taxes.Overall, this concept promises to reduce the amount of taxes you will owe, however, be mindful that if you\u2019re already in the zero-percent capital gains bracket, tax-loss harvesting wouldn\u2019t make sense.This is a tricky concept to understand, so don\u2019t worry if you\u2019re confused.Related: What Is Tax-Loss Harvesting?  A CPA Explains.Wash-Sale RulesAdditionally, be aware of wash-sale rules when engaging in tax-loss harvesting. These rules prevent investors from taking a tax deduction from a wash sale.A wash sale, defined by the Internal Revenue Service (IRS), is when an investor sells a stock or other security for a loss, and either 30 days before or after selling, proceeds to buy the same or a \u201csubstantially identical\u201d stock.Betterment circumvents this by reinvesting your money into an ETF that\u2019s similar (but not identical to) the ETF you sold, or by implementing some of their more advanced tax-loss harvesting strategies.\t\t.st2-45346.btn.btn-default:hover{border-color: #4db848;color: #4db848;background: #fff !important;}\t\t\t\tSign Up\t\t\tAnnual Fee0.25%For digital investingMin. Investment$0Intro OfferFirst Month FreeIf you deposit at least $15,000 within 45 days\t\tHow Betterment Invests Your MoneyBetterment lets you choose which Betterment portfolio you’d like to use to invest your money. Below is a more in-depth look at each Betterment portfolio and their asset classes.Betterment Core PortfolioThe Betterment Core Portfolio is Betterment\u2019s standard investing portfolio.It consists mostly of low-cost ETFs, and Betterment claims that it\u2019s tax-efficient.Below are the asset classes included and not included within Betterment\u2019s Core Portfolio..simple_table-45362 table tr th{\ttext-align: center;\t\t}.simple_table-45362 table tr td{\ttext-align: center;\t\t}Asset ClassIncluded in Betterment Core Portfolio?BondsShort-term treasury bondsIncludedInflation-protected bondsIncludedInvestment-grade bondsIncludedInternational bondsIncludedMunicipal bondsIncludedEmerging market bondsIncludedEquitiesDeveloped marketIncludedEmerging marketIncludedOtherPrivate equityNot includedCommoditiesNot includedNatural resourcesNot includedFor more information about Betterment\u2019s Core Portfolio and selection process, visit this page.Betterment Socially Responsible Investing PortfolioBetterment\u2019s Socially Responsible Investing Portfolio is similar to the Core Portfolio, but is more focused towards ESG investing, or impact investing for sustainable causes.There are three variations of this portfolio; members can choose to invest through the Broad Impact Portfolio, Climate Impact Portfolio, or the Social Impact Portfolio.When creating each of these portfolios, Betterment replaced the below asset classes with an ESG alternative:U.S. StocksEmerging Market StocksDeveloped Market StocksU.S. High Quality BondsU.S. Investment Grade Corporate BondsBecause not all asset classes can be replaced with an ESG alternative at this moment, all other components of Betterment\u2019s Socially Responsible Investing Portfolio remain the same as Betterment\u2019s Core Portfolio..simple_table-45350 table tr th{\ttext-align: center;\t\t}.simple_table-45350 table tr td{\ttext-align: center;\t\t}Betterment\u2019s Core PortfolioPortfolio NameGoals and VisionBroad Impact PortfolioBetterment\u2019s original and general impact-investing option Holistic approach to investing in overall sustainability and diversityClimate Impact PortfolioPrioritizes climate-conscious investing50% of stocks within this portfolio are invested in low-carbon ETFs50% of stocks within this portfolio are invested in fossil fuel-free ETFsInvests in green bondsSocial Impact PortfolioPrioritizes social-conscious investingInvests in NACP, a stock ETF that emphasizes minority empowermentInvests in SHE, a stock ETF that supports women-led companiesSmart BetaBetterment offers a Smart Beta option for your portfolio, which increases your chances of receiving higher returns in exchange for taking on more risk.The Smart Beta portfolio, which is managed by Goldman Sachs, is more heavily-weighted toward stocks who exhibit these four key factors:Good valueHigh qualityLow volatilityStrong momentumAcademic research has shown that stocks with these characteristics tend to outperform the market over time.Learn more about Betterment\u2019s Smart Beta strategy here.Flexible PortfoliosThrough Betterment, you can adjust your individual asset class weights.However, I\u2019d only recommend this if you\u2019re an experienced investor.To learn more about this feature, click here.BlackRock Target Income PortfoliosIf you\u2019re retired, Betterment also offers income portfolios from BlackRock Investment.The Target Income portfolio is a 100% bond portfolio, so it makes sense for people who are trying to conserve the money they have. It wouldn’t make sense for someone who is still working-age, and will benefit from the higher growth potential of investing in stocks.Features and BenefitsBelow are highlights of Betterment\u2019s most distinguishable features..simple_table-45352 table tr th{\ttext-align: center;\t\t}.simple_table-45352 table tr td{\ttext-align: center;\t\t}Betterment\u2019s Features and BenefitsFees0.25% annual feeAccount Minimum$0Sign-up OfferFee waived for one month if you deposit at least $15,000 within the first 45 days of opening your account.Betterment Checking AccountReceive a Betterment Visa debit cardGet cash-back rewards through DoshReceive cell phone protection if you pay your phone bill with the Betterment debit cardExternal Account LinkingSync non-Betterment accountsView all of your finances in one platformHigh-Yield Savings Account0.10% APY (varies)Retirement FundsTraditional, Roth, and SEP IRAsConcierge ServiceTransfer assets from other accounts to Betterment without triggering any taxable eventsComplimentary as long as you\u2019re transferring at least $100,000Financial AdvicePay hourly for financial advice if you don\u2019t have the Premium planBook 45-minute or 1-hour sessionsBetterment Checking AccountA Betterment checking account is issued by nbkc bank, FDIC-insured up to $250k, and has worldwide reimbursement for ATM fees.After you sign up for this account, Betterment will send you a debit card which you can use at various places to get cash-back rewards through the Dosh cash-back platform.Additionally, if you pay your cell phone bill with your Betterment Visa debit card, you can get up to $600 per cell phone claim for damage or theft with a $50 deductible (maximum of two claims per year).Link External AccountsBetterment allows you to sync external (non-Betterment) accounts, which is part of Betterment\u2019s goal to integrate your whole financial life into one platform.When you sync an external account to Betterment, you cannot manage it through Betterment, and Betterment cannot access that account to buy and sell as it pleases.Rather, this feature is designed to help the platform \u201crobo-advise\u201d your Betterment-controlled assets.You can also add your spouse\u2019s accounts to Betterment to make sure their transactions won\u2019t affect your tax-loss harvesting if you file jointly. And you can roll over an old retirement plan.Betterment uses Plaid to link your external investment accounts.I tested this out by attempting to link my M1 Finance account, and it worked pretty well. (If you\u2019d like to learn more about M1 Finance, another robo-advisor, you can check out my review here.)Cash-Reserve AccountBetterment\u2019s Cash-Reserve Account is a high-yield savings account through the Betterment platform. It currently pays 0.10% APY, although this often fluctuates.You can find high-yield savings accounts with higher APYs, but there are two benefits for signing up for the Betterment Cash Reserve:It integrates well with your other Betterment accounts because it\u2019s already in Betterment.There are no limitations on moving money out of this account; Betterment claims to allow you to move your money as often as you want with no fees.In contrast, most other high-yield savings accounts (and money market accounts) are restricted by Federal Reserve Board Regulation D, which says you can\u2019t make more than six withdrawals or transfers out of your savings account per month.College Fund GoalsFor my college fund goals, Betterment prompted me to set up a taxable brokerage account that would be subject to a Betterment fee.But from my experience as a CPA, a 529 Plan would be better for a college savings account \u2013 if you invest through a 529, your investments grow tax-deferred and your distributions towards education don\u2019t get taxed.Yet, Betterment makes no mention of setting up a 529.This made me question whether Betterment has its users\u2019 best interests at heart.If I set up a platform like this, I would at least inform investors of the possibility of setting up a 529, even if I didn\u2019t have a partnership with a 529 Plan provider.Retirement GoalsIn terms of retirement goals, Betterment offers Traditional, Roth, and SEP IRAs, which I\u2019ll explain more about below.You also have the option of setting up a taxable account (although I\u2019m not sure why you would do that, since IRAs come with significant tax advantages).Traditional IRAIf you\u2019re eligible, a Traditional IRA offers a tax deduction for the money you put in now, and your investments can grow tax-deferred in the account.After you turn 59 and a half years old, you can take money out of your account without a penalty. However, the money you remove will be subject to income tax.Roth IRAWith a Roth IRA, you don\u2019t get a deduction for the amount you put into your account, however, you can take money out tax-free once you reach 59 and a half. You can also withdraw contributions at any time without paying penalties or taxes. If you\u2019re interested in learning more about Traditional IRAs and Roth IRAs, check out this post where I compare the two.SEP IRAAnd finally, a SEP IRA is similar to a Traditional IRA, but it\u2019s designed for business owners.Safety Net Goal\/Emergency FundWhen signing up, Betterment asks you to set up a \u201csafety net goal,\u201d which is basically your emergency fund.If you already have an emergency fund, you can just link that account to Betterment.The safety net goal is different from Betterment\u2019s Cash Reserve; an emergency fund should not be touched unless it\u2019s an emergency, and the Cash Reserve should be used to fund your investments.Net WorthOn your Betterment home screen, you can see your total net worth based on your linked accounts and Betterment balance.I really like this integration feature within Betterment, since it also allows you to view a full breakdown of where your wealth is coming from.Concierge ServiceBetterment offers concierge service, which is designed to help you transfer assets from other accounts to Betterment without triggering any taxable events. This service is complimentary as long as you\u2019re transferring at least $100,000.Financial AdviceBetterment\u2019s Financial Advice feature is for those who don\u2019t have the Premium Investing plan, but are willing to pay hourly for a consultation with a CFP.Betterment offers a variety of calls that you can book, including a 45-minute introductory call for $299 and hour-long calls on planning for retirement, college, marriage, etc., for $399.BeneficiariesThrough Betterment, you can add a primary beneficiary.Your primary beneficiary will gain control of the assets in your account if you pass away.You can also add contingent beneficiaries, people who will gain control of your account if your primary beneficiary passes away before you.Betterment Fees and PlansBelow are the different plans that you can sign up for through Betterment..simple_table-45353 table tr th{\ttext-align: center;\t\t}.simple_table-45353 table tr td{\ttext-align: center;\t\t}Betterment Fees and PlansChecking Account and Cash ReserveDigital InvestingPremium Investing$0 Annual Fee0.25% Annual Fee0.40% Annual Fee$0 Minimum$0 Minimum\t$100,000 MinimumChecking AccountIssued by nbkc bankFDIC-insured up to $250kATM fees reimbursed internationallyCash ReserveEarn 0.10% APYAble to distribute towards multiple investment goalsFDIC-insured up to $1MEstablish a standard Betterment investment portfolioAccess to sustainable investing optionsFeatures like portfolio rebalancing, dividend reimbursement, auto-adjust, tax-loss harvesting and other tax-advantaged strategiesEstablish joint accounts, IRAs, trusts, and moreAll Digital Investing featuresUnlimited calls and emails with Betterment CFPsFinancial advice on investments made through non-Betterment accountsBetterment Checking Account and Cash ReserveBetterment\u2019s checking account and Cash Reserve requires no minimum deposit or fees. Additionally, you can always add these accounts to your investing plans for no additional costs.Digital InvestingDigital Investing, Betterment\u2019s default investing option, charges a 0.25% annual fee with no required minimum deposit.For example, if you sign up for the Digital Investing plan and deposit $1,000 in your portfolio, your fee is $2.50 a year, whereas if you have $10,000 in Betterment, your fee is $25 a year, and so on.Premium InvestingBetterment\u2019s Premium Investing, available for those with at least $100,000 in Betterment, charges a 0.40% annual fee. For example, if you have $100,000 in your Premium Investing account, your annual fee will be $400, and so on.This plan comes with all the features of the Digital Investing plan but also offers unlimited access to Betterment\u2019s Certified Financial Planners (CFPs).I have no personal experience with Betterment\u2019s CFPs, but this price seems relatively affordable in exchange for unlimited access to a CFP.Both the Digital Investing and Premium Investing accounts give you the option to choose between Betterment\u2019s Core Portfolio or Betterment\u2019s Socially Responsible Portfolio.Is Betterment Safe?Betterment is not a scam; it\u2019s a safe and legitimate platform that was founded in 2010 by Jon Stein and Eli Broverman.As of 2021, Betterment has a customer base of more than 650,000 investors and $32 billion in managed assets.But if you\u2019re wondering whether or not Betterment gives safe returns, note that any investment you make carries risk.It\u2019s impossible to know if Betterment will actually deliver a high return, but know that historically, investments do better when you buy and hold.Betterment Pros and ConsNow that I\u2019ve gone over Betterment\u2019s features, here\u2019s what I liked and didn\u2019t like about using Betterment.ProsHolistic Approach: This can also be a con, since Betterment uses this to make money off of you, but in my opinion, Betterment\u2019s platform is very convenient if you want to view your financial situation from a bird’s-eye perspective.Low and Affordable Fees: For a 0.25% fee, Betterment\u2019s Digital Investing option manages your investments, adjusts your portfolio, and provides you with tax-coordinated opportunities. This seems like a reasonable fee to me, and the Premium Investing plan also seems affordable at 0.40%.Low-Cost Investment Options: Betterment mostly invests your money in low-cost index fund ETFs \u2014\u00a0particularly, Vanguard ETFs. I\u2019m a big fan of Vanguard, so this is a plus in my book.No Account Minimums: You can get started on Betterment today even if you don’t have any money to deposit.\u00a0 This allows you to set up an account and make deposits in the future with whatever money you have.Sophisticated Tax-Planning: Betterment offers higher-level tax planning techniques such as tax-loss harvesting and a tax-coordinated portfolio.ConsCharges For Things You Could Do Yourself: Betterment charges you to do things that you could do for free on your own.\u00a0 However, this is the same situation with most robo-advisors. When it comes to investing \u2014 if you know how and if you have the time \u2014 you can do it yourself.Potential Conflicts of Interest: Betterment wants to manage as much of your money as possible. This creates a conflict of interest between what\u2019s best for you and what\u2019s best for Betterment. For example, when I tried to set up an education goal, Betterment didn\u2019t mention the possibility of setting up a 529 Plan, and instead tried to funnel me directly into a taxable brokerage account that it could manage. This results in you potentially losing out on better returns.Somewhat Confusing Setup: I was frustrated by certain aspects of the setup process. For example, when I had to input a target amount, Betterment didn\u2019t allow me to set a date to hit that target amount by. Instead, after I finished setting up my account, it assigned me a target date of 2054, which I couldn\u2019t adjust. There were several other confusing elements too, so in my opinion, Betterment needs to make a few changes to their setup process.How is Betterment Different?Betterment is different because it offers advanced investing strategies for relatively low fees, and it requires no minimum deposit to do so.Similar services with low fees don’t all offer these strategies with direct access to CFPs.Additionally, services or brokerages that offer to implement these strategies typically charge much more.This is a pretty revolutionary concept, considering that this makes investing accessible to virtually anyone.Betterment AlternativesBetterment isn\u2019t the only robo-advisor on the market.In fact, a few alternatives to Betterment are Wealthfront, Charles Schwab, and Ellevest \u2013 and they all offer similar services with low fees.Below is a table detailing each platform\u2019s default investment options..btn.btn-blue.dift:hover, .btn.btn-default.dift:hover {color: #4db848;border-color: #4db848;background: #fff !important;}\t\t\t BettermentWealthfrontSchwab Intelligent Portfolios (Charles Schwab)Ellevest \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tPros and Cons\t\t\t\t\t\t\t\t\t\tSign Up\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tRead Review\t\t\t\t\t\t\t\t\t\tSign Up\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tSign Up\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tRead Review\t\t\t\t\t\t\t\t\t\tSign Up\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tFees\t\t\t\t\t\t\t0.25% annual fee\t\t\t\t\t\t\t\t\t\t\t\t\t0.25% annual fee\t\t\t\t\t\t\t\t\t\t\t\t\t$0\t\t\t\t\t\t\t\t\t\t\t\t\t$1 monthly or $12 annually\t\t\t\t\t\tAccount Minimum\t\t\t\t\t\t\t$0\t\t\t\t\t\t\t\t\t\t\t\t\t$500\t\t\t\t\t\t\t\t\t\t\t\t\t$5,000\t\t\t\t\t\t\t\t\t\t\t\t\t$0\t\t\t\t\t\tSign-up Offer\t\t\t\t\t\t\tFee waived for one month if you deposit at least $15,000 within the first 45 days of opening your account\t\t\t\t\t\t\t\t\t\t\t\t\tSign up using a Wealthfront referral code or have a friend sign up through your referral code and get $5,000 of your deposit managed at no cost\t\t\t\t\t\t\t\t\t\t\t\t\tSign up using a Schwab referral code and earn up to $1,000 if you make a qualifying deposit within the first 45 days of opening your account\t\t\t\t\t\t\t\t\t\t\t\t\tFee waived for three months if you sign up through an Ellevest referral code\t\t\t\t\t\tFeatures\t\t\t\t\t\t\tView all of your account balances in one placeTax-advantaged portfolios and tax-loss harvestingImpact-investing optionsAccess to CFPs for financial advice\t\t\t\t\t\t\t\t\t\t\t\t\tView all of your account balances in one placeTax-advantaged portfolios and tax-loss harvestingImpact-investing optionsOpen a 529 college planLimited 1:1 customer service\t\t\t\t\t\t\t\t\t\t\t\t\tTax-advantaged portfolios and tax-loss harvestingOpen brokerage, IRA, trusts, and other accountsImpact-investing options24\/7 customer service via phone or online chat\t\t\t\t\t\t\t\t\t\t\t\t\tInvestment algorithm optimized for women (takes into consideration maternity leave, longer lifespans, etc.)Impact-investing optionsOpen brokerage and IRA accounts20% discount on 1:1 financial coaching\t\t\t\t\t\t\t\t\t \t\tBetterment vs. WealthfrontBetterment and Wealthfront both charge a 0.25% annual fee for their digital investing accounts, and both offer similar features good for set-it-and-forget-it investors such as tax-advantaged portfolios and financially holistic user interfaces.However, there are a few key differences.Betterment does not require a minimum deposit to start investing, and is more focused towards goal-setting and providing clients with one-to-one financial advice with a CFP for an upgraded cost.Wealthfront requires a $500 deposit to start investing and you can\u2019t get one-to-one financial planning support.However, they do make up for the lack of in-person financial support with having a robust digital planning software.Additionally, you can open a 529 college plan with Wealthfront \u2013 a feature that Betterment does not offer.In my opinion, Betterment and Wealthfront are both reliable and trustworthy robo-advisors, so it all really comes down to what type of account you want to open, and how you want to invest.Is Betterment Worth It?Who Betterment Is Good ForBetterment is good for those who want to view all of their accounts in one place, those who fall within a higher tax bracket, and those who just want to set it and forget it.If You Want To View All of Your Accounts In One PlaceBetterment would be a good fit for those who want to view all of their financial accounts all at once.Betterment houses all your accounts under one roof, and it can advise you on how to manage all of it from one place.If You Fall Within a Higher Tax BracketIf you fall within a higher tax bracket, you could benefit from Betterment’s automated tax tools.While those in lower tax brackets could also benefit from Betterment, these additional features are particularly well suited to those in higher tax brackets who already have a bit of wealth.If You Just Want to Set It and Forget ItBetterment may be a good fit for you if you\u2019re looking to do set-it-and-forget-it investing.With Betterment, all you have to do is deposit your money and Betterment will manage it for you with minimal involvement.Who Betterment Is Not Good ForI would not recommend Betterment to those who don\u2019t want to pay to have their investments managed, and to those who are active day traders.If You Want To Manage Your Own Investments For FreeIf you are extremely fee-sensitive and are willing to manage your own investments, Betterment is probably not a good fit for you.As I\u2019ve mentioned before, anything you can do in Betterment you can do yourself for free; Betterment just does it all for you in a single place.If You\u2019d Rather Day TradeBetterment is also not a good fit for you if you want to engage in active trading.As previously mentioned in this article, Betterment is a robo-advisor, which means that it automatically invests your money based on its algorithm.With Betterment, investors are unable to specifically choose where their money goes.How to Use Betterment (Step-by-Step Guide)To set up your Betterment account, you can click this link, which will take you to the Betterment home screen, where it says \u201cStart Investing and Get Up to One Year Managed Free.\u201dStep 1: Create your main account.To set up your account, click \u201cGet started\u201d, input your email address, first name and last name, phone number, and a password and then click \u201cCreate account.\u201dIn this example, I\u2019m setting up an account for my wife (with her permission) since I already have a Betterment account and am unable to open another one.Step 2: Create your other accounts.At this point, you\u2019ve set up a Betterment account, but once in Betterment, you have to create the separate accounts you want, whether a brokerage account, checking account, retirement account, etc.To set up a taxable brokerage account for investing like I did, click \u201cFinish setup\u201d and then input more information including your address, city, state, date of birth, SSN, employment status, tax filing status, income and investment account balances, etc.This is completely normal and is required to set up a brokerage account in the United States. Finally, click \u201cAccept and finish\u201d and then click \u201cGoal setup\u201d to tell Betterment what you\u2019re going to use this account for.Account OwnershipIn this case, the account is just for \u201cGeneral investing\u201d, which has three separate categories of \u201cIndividual Taxable\u201d, \u201cJoint Taxable\u201d, and \u201cTrust\u201d.In this example, I selected \u201cIndividual Taxable\u201d, but you can also select one of the other options.Note that you are unable to create a trust through Betterment, so \u201cTrust\u201d is for those who already have an existing trust.\u201cJoint Taxable\u201d allows for some easy estate planning and also comes with survivorship rights, meaning that if one of the account owners dies, the ownership of the entire account goes to the surviving owner.Betterment allows you to set up a joint account even if you\u2019re not married.If I was going to use this account frequently, I would set up a joint account, but I chose \u201cIndividual Taxable\u201d for the sake of this example.Account Naming and Target AmountsYou then click \u201cContinue\u201d and can name your account and select a target amount.However, Betterment doesn\u2019t attach a date to the target amount, which is frustrating, since someone might want to target a small amount now and a larger amount at some point farther in the future.After clicking \u201cContinue\u201d again, you can also adjust your goal image.Step 3: Design your Betterment portfolio.After clicking \u201cContinue\u201d one more time, you\u2019ll see a screen saying, \u201cHow would you like to invest?\u201dAt this point, you can start making some decisions about your Betterment portfolio. I\u2019ve described some of the various options earlier in this piece.After choosing your portfolio, click \u201cContinue\u201d, and you\u2019ll then see a screen saying \u201cConfirm goal details\u201d.On this screen, you can see your target amount, along with the target date created for you by Betterment based on your estimated date of retirement (the year you\u2019ll turn 65).Unfortunately, Betterment doesn\u2019t allow you to adjust this date in any way, and does not inform you of this date earlier in the setup process.Step 4: Set up investing goals.After reviewing everything on the \u201cconfirm goal details\u201d screen, you can move on to setting up your investing goals.First, you confirm what you told Betterment, then you tell Betterment about your children, home, and investing goals.After this, Betterment gives you recommendations for the different account types you should set up (they call them goals because they might not technically be separate accounts).In my case, Betterment recommended a cash reserve, emergency fund, retirement account, and college funds for our children.Note that Betterment doesn\u2019t necessarily say you need to set up these various accounts with them.For example, in the case of retirement, Betterment says you can \u201csync non-Betterment accounts, like your current 401(k), to get holistic advice on allocations, funds, the right amount to save, and which account types to use to help maximize your money.\u201dThis speaks to Betterment\u2019s holistic nature; with other investing platforms like Robinhood, you just buy and sell stocks, whereas Betterment attempts to give you a comprehensive analysis of not just the funds you have at Betterment but your entire financial picture.You can also add other goals in Betterment, like saving for a new car, home renovation, etc. I just picked vacation.Step 5: Make your initial deposit.After completing all these steps, you can make an initial deposit into your Betterment account by clicking \u201cmake a deposit\u201d.Betterment will first ask you to verify your email, after which you can click \u201cConnect a bank account\u201d, and then follow the standard procedure to connect your bank account through Plaid.After connecting your bank account, you can set up your deposit.In order to analyze this platform better, I chose to set up a monthly deposit of $100.At the bottom of this screen, Betterment projects your balance at your target year, probably based on historical averages.According to Betterment, based on these historical averages for this type of portfolio, my monthly deposits of $100 until 2054 (a total of $39,600) will ultimately equal $126,255.92 in 2054, showing how much money can grow over time.After reviewing your deposit, clicking \u201cSubmit Deposit\u201d, and completing a few more prompts, you\u2019re all finished setting up your Betterment account!Step 6: Explore the app.The menu at the top allows you access to \u201cDeposit\u201d, \u201cTransfer or rollover\u201d, and \u201cRefer a friend\u201d.These are pretty straightforward; \u201cdeposit\u201d allows you to deposit your money, \u201ctransfer or rollover\u201d allows you to move an account to Betterment, withdraw money from your Betterment account to your bank account, or view your previous transfers, and \u201crefer a friend\u201d allows you to access Betterment\u2019s referral program.Referral ProgramIf you invite someone to Betterment and they sign up and fund an account, both of you get $5,000 managed free for a year, for a maximum of five referrals a year equalling up to $25,000 managed free a year.Betterment\u2019s fee on your investment accounts is 0.25% a year, so the annual fee on $5,000 is $12.50.Thus, the maximum referral reward per year is $62.50, assuming you have $25,000 in your Betterment account that you would otherwise pay the annual fee on.Betterment PromptsOn the top of the home page of your new Betterment account, Betterment offers you several prompts to enable additional features.These features, such as a Betterment checking account, and socially-responsible investing, are discussed earlier in this post, in the Betterment Fees and Plans section.Left SidebarIf you scroll down, you can see your goals, along with several other items on the left sidebar of the main screen.Most are pretty straightforward- under \u201cTransfers\u201d, you can initiate deposits or withdrawals to or from Betterment, under \u201cActivity\u201d, you can view your account activity, under \u201cRefer a friend\u201d, you can access the referral program, and under \u201cSettings\u201d, you can update your personal information, beneficiaries, external accounts, etc.DocumentsUnder \u201cDocuments\u201d you can find your statements, tax documents, and other documents, which can be extremely helpful in terms of tax planning.For example, if you click \u201cTax documents\u201d and then \u201cRealized gain\/loss\u201d, Betterment generates your year-to-date securities sales report so you know how much you\u2019ll have to report on your tax return. You can also download your cost basis in your investments and see a record of year-to-date dividends paid to your account.Ask an AdvisorUnder \u201cAsk an Advisor\u201d, Betterment offers two different services: concierge service, and financial planning.See the Features & Benefits section of this blog post, where I discuss these services in depth.RewardsUnder \u201cRewards\u201d, you can access a few rewards that Betterment offers, including the cash-back through the Betterment Visa debit card that I discussed previously.Final Thoughts on BettermentThanks for reading my review of the Betterment platform!I hope my experience helped you gain understanding of whether or not this is the right robo-advisor for you.Overall, I really like what Betterment has to offer for both new and experienced investors, and I\u2019m impressed with the platform\u2019s commitment to accessible investing options.If you decide that Betterment is for you, feel free to sign up using my link.If you sign up using this link, I\u2019ll get a small commission at no cost to you, so I can keep making reviews like this.If you\u2019re interested in another low-maintenance investment platform that charges no fees but requires you to be more involved in the portfolio selection process, check out this review of M1 Finance.And finally, if you\u2019re interested in free stocks (who isn\u2019t?) \u2013 I happen to know a few ways you can get some free stocks, right now.Frequently Asked QuestionsHere are short answers to common questions about Betterment..accordion-list .accordion-title:hover{color: #4db848;}Is it safe to invest with Betterment?Yes, it is safe to invest your money with Betterment. Betterment is a legitimate platform with a customer base of more than 650,000 investors and $32 billion in managed assets (as of 2021).Is Betterment worth using?Betterment is worth using for someone who doesn\u2019t want to spend too much time picking what to invest in, and doesn\u2019t mind using a robo-advisor to do so.The Betterment platform is low-cost and fairly easy to use, so in my opinion, if it fits your investment style and goals, it\u2019s worth at least trying.What is the average return on Betterment?Betterment claims to have a yearly average return of 8.2%, according to this blog post on their website.Can you make money with Betterment?Yes, you can make good money with Betterment \u2013 on the condition that you follow the rule of thumb for investing: invest for the long game.Betterment can offer you decent returns over a long period of time, but remember that you are not able to day trade through the platform.Is Betterment good for beginners?Betterment could be good for beginners since the platform automatically invests your money for you.New investors won\u2019t have to worry about picking what to invest in, and Betterment\u2019s Digital Investing plan has reasonably low fees.What bank owns Betterment?Betterment is not owned by a bank because it is an independent company. 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