sofi automated investing review

1. SoFi Automated Investing | 2022 Review Of Robo-Advisor Service
2. SoFi Invest Review 2022
3. SoFi Invest vs Wealthfront – Expert Robo-Advisor Comparison Review
4. SoFi Invest Review | One of the Best Investing Platforms in 2021?
5. SoFi Invest Review 2021 UPDATE Watch Before Using SoFi Invest
6. SoFi Invest Review 2022
7. SoFi Investing Review (SoFi App Investing)

SoFi Automated Investing | 2022 Review Of Robo-Advisor Service

i got another robo advisor review for,you guys today were going to be taking,a look at sofis automated investing and,this one came up on our radar screen,because its literally been flashing,its free at me everywhere but then on,top of that even nerd wallet motley fool,gave them super high reviews meaning 5,out of 5 stars stuff like that so anyway,definitely thought we had to take a look,at this too see if we agree with those,reviews im going to be going through,the process of signing up for an account,and letting you guys know if i think you,should go for it or pass on it,hey guys jessica here before jumping,into it really quick call out that were,uprise,were a vc backed fintech company that,is working on building the best,financial plan experience in the world,one number 1.5 million thats how much,on average weve been able to find and,add to customers lifetime net worth and,the way we do this is we look at,peoples specific situations and help,them figure out things to optimize,things like,savings accounts paying down debt uh,saving for retirement optimizing,employer benefits all of this kind of,stuff and this is a lot of what we do by,the way we take a look at a lot of the,financial products out there and make,sure that youre using the best,financial products for your specific,situation to get your plan definitely,check us out ive linked to us in the,description below and please give this,video a thumbs up hit that subscribe,button it really really helps small,channels like ours so getting back to it,sofi is a financial institution thats,been around for a little over a decade,so still relatively new um and they,started off in student loans helping,people refinance student loans and they,still do that but theyve also just sort,of ballooned into a ton of other,financial products from loans to banking,and everything in between quick callout,by the way one of the co-founders of,sofi is actually an investor in uprise,we were really excited to have you know,his expertise as were building up from,scratch but that said uh a hes no,longer with sofi and b even if you were,that would have zero impact whatsoever,on this review so jumping into the,automated investing service what im,gonna do in this video is im gonna pull,up my screen im gonna walk through the,process of signing up for an account and,then along the way youll be able to see,sort of how easy it is how the fees work,you know is it too good to be true what,they invest you in and stuff like that,and as mentioned at the end ill let you,know if i think you should go with it or,pass on it okay guys im here on the,sofi website and im going to get,started you can see down here theyve,got like a bunch of different uh,financial products im going to click in,here into investing okay now im on the,investing website but even on the,investing website there are like a bunch,of different investing products they,have so scrolling down here you can see,they have like crypto they have a robin,hood competitor im going to be clicking,into here automated investing which is,their robo advisor that were reviewing,today,click here,okay so now im on the automated,investing website finally just taking a,really quick look through you can see,they talk about how theyre the top,ranks um they were rated highly by,motley fool they set up here and as,mentioned like they were rated very,highly by nerd wallet as well um,also just looking through here again,they say very clearly no sofa management,fee um and so this is the part that im,gonna be looking into more today which,is like how is this possible um because,as comparison right like betterment,wealthfront um charged 0.25,vanguard charges roughly 0.15 percent,so ill be digging in a little bit more,on that and im just going to click here,to get started one really quick call out,on this before signing up for any,financial product i normally like to,just look around to see if there are any,promotions or discounts um before,signing up but i did a quick search for,so far i didnt find anything any,promotions out there so im just going,to get started straight from their,website,invest now okay great um start an,account go ahead all right are we,opening a new account or transferring an,existing one so this is good to know,that they also have retirement accounts,available in addition to normal,investment accounts im just going to go,ahead with a normal investment account,today,great this is pretty standard with all,robo advisors just trying to get an,understanding of why youre investing,im going to just test it out and say,okay im saving for a large purchase or,expenditure,between three to five years from now and,what i would expect to see when i say,something like this is that the,portfolio has to,match this time frame that im looking,for,i would expect that a portfolio that,they recommend for me if i had said say,retirement that im saving for,retirement would look a lot different,than what theyre recommending for me,here,okay here all right so theyre,recommending for me a moderately,conservative 30 stock 70 bonds which is,fine considering again um im hoping to,cash out that money within three to five,years but stocks and bonds is so vague,uh let me click into here okay so this,is where it gets interesting which is,where are they putting my money if i if,i invest with them and this is super,interesting that they have proprietary,etfs um i definitely want to look into,this more the rest of these actually,look pretty standard um especially im,just taking a look at the two biggest,buckets so vanguard short-term bond etf,42 percent in eye shares municipal bond,etf like in general vanguard and eye,shares are very well known etf names,theyre low fee very liquid um and so,these look pretty standard actually but,i want to double click into here,okay here so,this is the sofi select 500 etf um its,composed of the 500 largest publicly,traded u.s companies so okay so this is,an s p 500 im assuming like etf um but,its their standard one its a bit weird,that the expense ratio here is blank im,assuming that means its free as they,mentioned which is great but im going,to want to dig in here a little bit more,and then clicking down here,this is the next 500 etf okay so 500 mid,cap us companies again same thing,expense ratio is blank,which im not really sure whats going,on but then clicking down into here say,this other big bucket of the municipal,bonds,like that is populated the expense ratio,is 0.07,which is a very good expense ratio okay,before jumping deeper into these etfs i,want to see what it looks like with the,other portfolios,so if i click into retirement counts,it is pretty much the same here so the,main difference i notice here is here,instead of the municipal bond etf they,invest in the vanguard total bond market,etf the proportion in terms of the,proprietary etf still looks to be pretty,much the same but let me click in here,so yeah so the expense ratio is 0.05,very good,what i want to say about this fund this,makes sense why you would do the total,bond market etf instead of the municipal,bond because this is a retirement,account so this is already tax advantage,municipal bonds are also tax advantage,so it kind of defeats the purpose to put,municipal bonds in retirement accounts,um because uh because you wouldnt be,able to take advantage of those tax,benefits um,so this all makes sense let me click out,of this,uh im curious as to like hey if i was,if i were saving for retirement instead,what that portfolio would look like so,let me click into aggressive in the 100,stock,um 100 stock it seems like much more,heavily weighted in terms of the sofi uh,etfs so clicking into here this is the,same one um the s p 500 one,so much more highly concentrated there,and then clicking into retirement,accounts nothing huge there let me exit,out of that,im curious if i was like way,conservative what does that look like,this is interesting because theres,actually no sofa etf um in fact like all,of it is sort

SoFi Invest Review 2022

so if i invest one of my top two,favorite investment platforms if you,want to learn which is the other,favorite investment platform of mine,youre gonna have to stick around to the,end of this video or ill tell you what,that is and later you could watch that,review video if youre interested in,creating an account with sofi invest you,can get 25 in free stock after investing,100 using my referral link in the,description below so theres essentially,two different ways that you can invest,with sofi the active invest platform so,thats what all of my accounts are where,you can choose stocks etfs and crypto,you can choose when to buy how much to,buy when to sell et cetera and then they,have their automated investing platform,so with automated investing the nice,thing with them compared to other robo,advisors such as betterment wealthfront,and the like is theres no management,fee so if you saw my recent betterment,video they charge a quarter of a percent,per year for their just automated,investing and if you want the more,advanced platform where you can actually,talk to a financial advisor they would,charge point four percent with sofia,invest automated investing platform,theres no management fee if you want me,to create an account and later a review,of sofis automated investing platform,write automated investing down below in,the comments and id gladly create the,video so to give you a super quick,overview of why i like sofa invest so,much is i think its great for long-term,investors and for beginner investors so,were gonna get into all the different,pros and cons of sofi invest but i think,if youre just getting started and want,to invest for the long term so fi invest,is a great place to start before we go,further in this video i want to mention,im not a financial advisor and nothing,in this video is financial advice before,purchasing any stock etf cryptocurrency,or making any other investment you want,to make sure to do your own research,one of the reasons i like sofa invest is,the different options they have for,account types you have a traditional,taxable brokerage you have traditional,iras roth iras sep iras and so you can,decide the type of investment or the,type of account you want to have that,each of them has their own tax,advantages and disadvantages that ive,talked about in some other videos but,some of the platforms such as robinhood,or public you just have a taxable,brokerage you dont have the retirement,account options which i think are really,important if youre investing for the,long term and want to save money on your,taxes now lets go through three,features that sofi invest has that are,fairly common across the board but i,wouldnt create an account with an,investment platform that doesnt offer,these three options the first of which,is commission free trading so the,industry standard now is to not charge,commission when buying or selling stocks,or etfs this is true with sofi invest,and a lot of the other investment,platforms the second feature is the,ability to purchase fractional shares so,shares such as amazon tesla google,berkshire hathaway and a bunch of etfs,are hundreds or thousands of dollars so,if you want to set up recurring deposits,which were going to talk about in a,second for say 10 20 50 per week or per,month youre not going to be able to buy,those shares because theyre too,expensive but with fractional shares you,can essentially set up the amount that,you want to purchase and purchase very,very small amounts of your favorite,stocks and etfs and not have to purchase,a full share the third feature i,couldnt live without in an investment,platform is the ability to set up,recurring purchases so to be able to set,it and forget it and to know that your,investment account balance is going to,continue to grow because on a recurring,basis you are making new investments on,a weekly bi-weekly or monthly basis and,so i have a whole course about,automating your finances and recurring,deposits or investments is an important,part of that if youre interested in,signing up for the free course check out,the link in the description below but,let me just show you how easy it is to,set up a recurring deposit so,lets say i wanted to invest,every week,in google shares so i just searched for,google here is the summary of google i,thought this would be helpful to see as,well so you can see,the,the last price so im recording this,over the weekend so the markets closed,right now but i can look at it over the,last day week month three months year,and five years theres a little bit of a,summary theres some recent news,there is investor activity so there is a,bit of,a social aspect to so far i dont,necessarily participate or share,my trades or what i follow on the,platform but that is available and then,along the right hand side youre going,to see my investment so i own,61.49,of google right now heres the,2.6,of a share that i own the average cost,ive actually lost five four dollars and,49 cents its down eight one percent but,down below this is the summary that,everybody would see so the daily high,daily low price open 52 week high and,low the market cap dividend yield volume,average volume p e ratio so thats just,a quick summary while were on our way,to set up a recurring purchase so to do,that i just click on add a recurring,purchase and the first thing you need to,choose is how frequently so is it,weekly so then you choose the day of the,week that youd like to do it every two,weeks monthly lets say weekly on,mondays that works fine so select that,and then i would like to invest,five dollars so again the important,thing is here is fractional shares,recurring small amounts so you can set,up your portfolio and continually invest,in whatever,stocks etfs or crypto or whatever youd,like to invest in,on a consistent basis so five bucks next,okay so source account pull from my sofi,money account,and buy google boom youre now regularly,investing in google your next order will,be placed on april 25th 2022 done let me,just show you a little bit more of the,sofa invest platform on my computer and,know everything you can do here you,could also do on your cell phone so the,invest part of sofi is going to look,something like this it gives you your,total account balance below its going,to give you the different accounts you,have so traditional ira individual,active investing roth ira and crypto,account there are features to explore so,ipo investing margin,get some extra points by setting up,current crypto deposit automatically,reinvesting your cash dividend so thats,something thats nice to do i think i,have it set up on all of my accounts,except for my new roth ira ill add that,at some point later on and if you,transfer your investments from another,brokerage you can also get some free,money here and then here is the market,comparison so the s p 500 dow jones,nasdaq russell oil gold us bonds and,bitcoin the scheduled recurring deposit,of google youre going to see,right here heres a summary of my,holdings heres the crypto holdings and,then down below is,my watch list so something thats nice,is to be able to see the watch list of,companies companies or etfs or,cryptocurrencies that you havent yet,invested in but you want to keep track,of so if you want to add something new,to your watch list its really easy to,do right here so i think i searched for,ford earlier so if thats what i want to,do i could just click on ford search for,it whatever and heres what the screen,comes up for them and if i wanted to add,them to my watch list there we go now on,my watch list one other thing i want to,show you really quickly while reviewing,the investment platform is what it looks,like when youre looking at etfs so if i,looked at vanguard which of their etfs,do we want to view today,how about,their vanguard large cap etf so if we,click off the search then we can view,everything a little bit easier and so,along the right-hand side a lot of the,stuff that we saw for individual stocks,is

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SoFi Invest vs Wealthfront – Expert Robo-Advisor Comparison Review

hi barbara freeberg here from,roboadvisorpros former portfolio manager,and university investments instructor,here to talk to you today about sofi and,wealthfront two top robo advisors youll,learn the pros the cons the differences,and which one might be right for you,hint there is a clear winner but i like,them both,so lets get started,sofi automated investing is the robo,advisor arm of the sofi,financial management platform theyre,known for lending youve probably heard,of them but theyve also branched out,into investing wealthfront on the other,they also offer,crypto,individual stock investing and,fractional shares active investing were,going to focus on the automated,investing portal today and they offer,several etfs now the etfs are currently,of interest because theyre waiving fees,for a while but that wont last forever,according to the company so what about,wealthfront,if youve been looking for a robo,advisor an automated investment advisor,for a while then youve heard of,wealthfront its one of the oldest,platforms it is a goals-based,digital investment platform which means,it doesnt offer financial planners like,some of the others do but wait you will,learn how you can get some pretty decent,financial planning advice while still,being a wealthfront customer they also,offer a range of features and although,they are known for their robo advising,robo advising and investing they also,offer lending and cash management and,high yield cash accounts although i,always have to say that with a laugh,because high yield today is like kind of,relative youre still not going to get a,lot a lot of yield on your cash now,were going to break down and were,going to go feature by feature see what,you get with each one youre going to,look at their platforms so you have the,data and information to make the,decision about which one is going to be,the best investment management platform,for you,wealthfront is goals based,sofi invest is a robo advisor that also,offers certified financial planner,advisors by appointment you can make,half-hour appointments as long as you,are a sofi customer,they also offer as we said,do-it-yourself investing and other,features,minimum investment of amount,wealthfront requires 500,so if youre an absolute beginner and,you want to start investing with 10 20,30 40 50 bucks well youve got to choose,so far although frankly to be quite,honest with you 500 bucks i think is a,reasonable goal to save up for for your,investing future,free services,wealthfront offers a free portfolio,review with their digital financial,planner and well talk a little bit,about that in just a minute while sofi,invest theyve got free etfs and fee,fee-free investment management,which includes access to financial,planners,now the feast dr the fee structure is,distinct wealthfront charges 0.25 of all,the money you have invested with them,except on the cash accounts there are no,fees charged on your cash when you use,the cash management at wealthfront sofi,investor on the other hand no account,management fees i know thats a biggie,but dont let that hugely deter you,because when you look at it really if,youre talking about a thousand dollars,well the amount that you will pay is,just minuscule,so top features,pay attention here because this is where,youre going to see the specific,differences between the well the,wealthfront and the sofi automated,investing platform wealthfront offers a,digital financial planner it is called a,path financial planner ive been through,this its got a lot of questions and as,long as you create an account you can go,through and get the recommendations from,their digital financial planner anyone,can do it without investing a dime so,its worth a look even if you dont,select wealthfront as your investment,manager,they also offer daily tax loss,harvesting this is awesome for a taxable,account and can literally save you a lot,of money when it comes to tax time and,that equates to,more money in your pocket,they have recently instituted access to,cryptocurrency funds,everyones loving crypto as a matter of,fact betterment just bought makara and,is adding crypto as well,and they offer up to 200 additional etfs,so you get your standard diversified,asset allocation portfolio at,wealthfront its based on a quick quiz,which asks you about your financial,goals and your risk tolerance but then,lets say hey im really interested in,ai and i want to add an ai etf to that,or im interested in tech and i want to,wait heavier in tech you can add those,etfs into your portfolio and wealthfront,will manage those as well,or you can also create an additional,portfolio made up just of the etfs that,you select wealthfront will manage that,as well,so a lot of customization is available,within the wealthfront platform,additionally they offer the cash,management as i said and they do have,the opportunity to lend at very low,borrowing rates,so fi is like,completely different they are a typical,the automated investing is a typical,robo advisor you take a quiz they they,come up with a portfolio that meets your,risk tolerance level it meets your,financial goals and it includes stocks,stock funds bond funds etc,thats the robo advisor product but they,do have other products within the sofa,vertical as weve discussed before so,you can get do-it-yourself investing you,can get crypto you can get lending all,of that other stuff but it will not be,managed within your automated investing,portfolio wont be rebalanced any of,that like you have with wellfront,so what types of investment funds are,there,like we said there are,hundreds of etfs diversified that you,can add to your portfolio at wealthfront,when you read this article which will be,linked to below you can see the list of,all the different funds sofa invest also,offers low fee diversified etfs,and they do include within their,portfolios a couple of their fee free,sofi etfs again fee free for a limited,period of time and those are kind of,cool because you do get a kind of a,forward-looking sofa next fund which,looks at,specific etfs that are a little more um,i guess you know tech oriented would be,a good way to put it now in the account,types youre going to see grave,differences as well,they both have of course your individual,and joint taxable accounts and they both,have the typical iras roth traditional,and sep which is a business type of ira,and rollovers as well,but if youre looking for a trust,account or you want a 529 college,savings plan for your child then youve,got to go with wealthfront and the 529s,is really unique at wealthfront you,dont find that at other robo advisors,phone service is pretty consistent,weekdays email 24 7. like i said its so,fun you can get access to financial,advisor appointments you have to,schedule those in advance they do also,offer,sessions with career consultants which,is kind of a cool thing and if youre a,part of this sofi,uh platform membership they have,community events fun activities that,sort of thing if you live in a big city,of course you get perks if you go to,sofie stadium as well,but dont think youre out in the cold,with wealthfronts customer service,because all of their customer service,reps are highly trained they do they do,have a series 7 license which means,theyre trained investment professionals,now neither of them are going to give,you full service financial planning set,up a plan and follow you,as you reach your financial goals but,wealthfront will be able to answer basic,financial planning questions in addition,to questions just about the platforms so,lets take a gander at what youre going,to find heres the sofi website you,could see all of their different,verticals here they have ipo investing,active automated retirement accounts,crypto frictional shares and etfs like,we mentioned before handy little mobile,app we all love our phone apps,both of them obviously have automatic,rebalancing that means when your,investment portfolio gets out of whack,with the percentages that you or

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SoFi Invest Review | One of the Best Investing Platforms in 2021?

hey friends andy here how you doing,good to see you now entering the world,of investing can be intimidating,and its hard to even know where to,start what if there was an online,platform that could handle stocks,crypto etfs and even retirement accounts,all in one easy to use,place well my friends allow me to,introduce you to sofi,invest not bad but first lets go ahead,and skip to the conclusion of this video,with a spoiler alert,sofi invest is a fantastic easy to use,platform that can meet just about any,investors needs,from beginner to professional trader if,theres one flaw to point out,it may simply be how it handles crypto,now its also worth noting that while,some apps out there and i wont name,any names or restricting orders on,popular stocks recently,sofi remained open to everyone if you,want more detail than that then stick,around for the rest of the video because,ill dive into what makes sofi unique,what the pros and cons are and whether,you should consider investing with them,or not and if while watching you get,some useful info out of this video then,please invest in me,by clicking that like button and,consider subscribing to my channel where,i cover,all things money and would love to have,you stick around,okay on to the review designed to,compete with other commission,free stock trading apps sofi invest was,launched in 2018.,it was a little late to the party since,apps like robin hood weeble and m1,finance had already been on the market,for a few years,of course being late isnt a bad thing,as long as its able to compete,so does sofi do enough to set it apart,well the answer is yes,thats another mini spoiler for you but,lets get into a little more detail,sofi invest is basically a one-stop shop,for all things investing,its made up of four main categories,active investing,automated investing retirement accounts,and even crypto well get to those in,just a moment but first lets talk about,what all those accounts have in common,one thing i think is super cool and,doesnt get talked about enough is that,sofi,offers free access to a financial,planner all you have to do is make an,appointment right in the app and youll,be connected with someone who can advise,you on which investments would best,suit your goals the ability to talk with,an expert at almost any time is a huge,perk especially if youre new to the,world of investing it makes sense too,because in general,sofi aims to be a more social platform,for investing,for example if you open the invest,section of the app youll see activity,from other users like what stocks,theyre buying,when theyre selling and if theyre,adding certain investments to their,watch list you can even leave comments,on their activity,its a unique way to make investing more,social but it is a bit of a double edged,sword i like the idea of making,investing more widely accepted and,seeing what your friends are up to is a,great way to do that,on the other hand i think its dangerous,to base your own investments on what,others are doing,rather than your own research,fortunately if you dont care about what,everybody else is up to you can switch,off the social features altogether,lastly sofi invest lets you add funds,instantly,if you decide to transfer money from an,external bank into your invest account,a thousand dollars of that will be,instantly available and ready for you to,use immediately,anything over that amount will take the,traditional four days but for those,quick trades this is a nice feature to,have,and if you have a sofi money account,your instant funding limit goes from a,thousand dollars,all the way up to 50 000 by the way to,see my full review of sofi money be sure,to click the link,up above right up there now lets get,back to the individual category sofi,invest offers starting with active,investing this is the one most people,will start with so well spend most of,our time here,like several other apps out there sofi,invest allows you to search for,individual,stocks purchase them and sell them all,with zero commission fees,now when you first open sofi invest,youll notice a couple of pretty,interesting features right off the bat,first near the bottom of the page youll,get to see a section called learn,this is sofis education center and if,this is your first time investing its a,great introduction to stocks,etfs investing strategies crypto and,quite a bit more,next youll be able to see a few,sections for finding stocks theres a,place for the most popular ones like,amazon tesla and apple,theres another for trending stocks,which is a list of the top stocks a lot,of people have recently purchased,theres even a section called,collections which are stocks organized,by categories,making it very easy to discover new,stocks for example theres a,biotech collection a dividend growers,collection,and one called pot tickers ill let you,figure out what that one means,all of this just adds to the social,aspect sofa is going for and i gotta say,it works really well,theres something about the way these,stocks are presented that just makes it,less,intimidating for first-time investors,finally right alongside the others is a,section called,sofi etfs in case you didnt know etf,stands for exchange-traded,fund and theyre basically a curated,collection of individual stocks when you,buy into an etf youre investing in,multiple companies at once,sometimes hundreds of them this gives,you instant and simple diversification,sofi currently has five etfs to choose,from starting with the sofi select 500,this is a collection of 500 of the,largest publicly traded companies out,there,its very similar to an s p 500 index,fund next,is the sofi next 500 which is very,similar,but its 500 companies are considered,mid-sized with a lot of potential to,grow in the future now heres where,things get interesting,the sofi top 50 etf is a collection of,the,top 50 most widely held us stocks on,sofi invest,this is updated monthly basically the,more popular a stock is amongst your,fellow investors the more,likely it is to be part of this etf then,theres the gig economy etf,which is composed of companies like,square airbnb,and shopify sofi thinks that these,companies are,ushering in the future of online,payments and shopping so if you agree,this is a great etf to go for finally,theres the tgif fund and yes it stands,for exactly what you think and no,it doesnt mean that a new episode of,full house or family matters is about to,come on,am i showing my age by saying that,basically this is a bunch of companies,that pay,dividends every you guessed it friday,its meant to be a kind of income etf,which means as long as the fund is doing,well its like getting,a payday every week speaking of,dividends sofi,does support drips or dividend,reinvestment plans,normally if you own a stock that pays,dividends you get that money deposited,into whatever account you want,but with a drip you can have those,dividends automatically reinvested into,buying more stock which i think is a,great idea,you can turn this on or off based on,your preference but its certainly a,great option to have,all right so now weve got a good idea,of what sofi invest offers but what,about the actual buying process,well sofi does make it very easy to both,buy and sell individual stocks,plus not only can you buy stock on a per,share basis,sofi also supports fractional shares,which they call,stock bits these allow you to buy part,of a share,rather than the whole thing this is,perfect if you want to invest say,10 into a company whose shares would,otherwise cost thousands,amazon i should point out that while,fractional shares are available,for the biggest and most popular,companies they arent offered on many of,the smaller ones this ease of purchasing,is also true of etfs which is as simple,as hitting the buy button and choosing,how much you want to put in,now lets touch on the other options,sofi invest offers,first is automatic investing which is,kind of like sofis answer to,wealthfront or betterment,another word you

SoFi Invest Review 2021 UPDATE Watch Before Using SoFi Invest

whats up guys welcome back to the,channel and in this video i want to talk,about an investment platform,where you can do three or actually four,main things that some of you guys may,like to do,under one single app and this is that,you can invest in stocks you can invest,in crypto,you can invest in etfs and you can also,open retirement accounts,with this one app and this is the sofi,invest app or platform,and this platform is especially good if,youre already a sofi user,and you have other sofi products such as,the sofi money account,or a sofi loan or even the sofi credit,card,now ever since so far started offering,investment accounts they have,improved on the service and they have,made a lot of changes,so if you heard about sofi invest soon,after they started,offering investments you definitely want,to watch this video because there are a,lot of,updates and changes and i think sofi,invest is now,much better than how it was initially so,as usual,in this video ill be going over the,pros and the cons of,sofi invest and this way you guys can,have a better understanding of sofi,invest and find out if this is the,investment platform for you to use this,year,as i know that there are multiple,options on the market right now,so be sure to stick around to the very,end of this video so you can hear about,the sofi,invest platform and just before we jump,into all this information,a special shout out to all my returning,viewers and my subscribers,thank you guys so much for tuning into,the channel once again i really,appreciate all the support,and if youre new here and youre seeing,me for the very first time,my name is ian and on this channel i,talk about ways to make money,ways to save money ways to invest your,money i talk about bank accounts and,credit cards and everything to do with,personal finance,so if you like these videos and you like,these types of topics,be sure to give this video a thumbs up i,really appreciate it its a hundred,percent free to give this video a thumbs,up and it helps the channel out a ton,and also be sure to subscribe to the,channel with all notifications on,and that way youll never miss the,updates of when i post new videos,which is every single day so lets jump,back into sofi,and i mentioned before so far offers you,many options you can have active,investing where you control your,investments you can do automated,investing with a robo advisor,you can open a retirement account and,you can also invest in cryptocurrency on,sofi invest now if youre a newbie or,youre new to investing i think so far,invest is actually one of the better,platforms to use,and although there are platforms that,are more popular like robin hood and,weeble,or even m1 finance which i all use as,well,i like sulfite a lot because with sofa,invest you can actually have,access to a free financial advisor so,for example youre watching some of my,videos and im telling you about some,investments and in these videos,i keep saying im not a financial,advisor and this is not financial advice,and so now you want to find a financial,advisor but the problem is,you usually have to pay a lot of money,for access to a financial advisor,so as a beginner or if youre just,starting out with investing,i think this is very helpful because,once you are using the sofi,invest app all you have to do is book an,appointment in the app and youll have,access to,a real financial advisor who can answer,all your questions and help you to,invest in a way that can help you to,meet your goals specific to whatever,your goals,are now this is a very big plus because,some other platforms either dont have,financial advisors,or even if they do theyll charge you a,fee for you to speak to a financial,advisor,and get help from one another pro here,and yes im starting out with the pros,and then ill cover the cons at the end,of this video,but another pro here is that when you,want to invest some money,and you want to pull this money from,your bank account you get a thousand,dollars readily available to,invest so if you initiate a deposit into,sofi,invest unlike some other investment,platforms and apps where you have to,wait three to four business days for,that money to actually,settle in the account so fi will allow,you to have,instant access to up to a thousand,dollars of whatever it is youre,transferring,that you can use to trade immediately,now another plus here is that if you,were a user,of some other sofi product like sofi,money for example,then that amount moves all the way from,a thousand dollars,all the way up to 50 000 so that is,another reason to have a sofi money,account and that account is actually,free,comes with no fees you can open the,account and if you like it you can keep,it if you dont like it,then after a month you can close it,because it wont cost you anything,they also offer a bonus at the time of,making this video of 25,for signing up and using that account,and you can check the link down below,where you can find that offer,now actually ill leave a link to that,video right here so if you want to learn,more about sofi money,the hybrid account where you can get,high interest and the account is,completely free with a world debit,mastercard,ill leave the link to that video here,and you can go watch that video,after this video and see if that is,another sofi product that you would like,to have as well lets now talk about,some of the investing options that sofi,invest has to offer and well start by,talking about manual investing where you,actually control,all your investments and so far allows,you to invest in stocks and etfs,you can pick from a long list of stocks,and etfs and actually when you open the,sofa,invest app the first thing that is going,to greet you is a section that says,learn this is where i think that sofi is,very good for beginners and even if,youre not a beginner,if you want to learn a lot more about,investing,this is a free way to do it because they,have a lot of articles,and subjects here like investing 101,what is cryptocurrency,what are stock bits what are etfs and,just a lot of free knowledge that you,would have to,otherwise pay for you can get them on,the sofi invest app for free,now sofi is a zero commissions platform,so youll never have to pay any fees to,invest,and apart from these stocks that you,guys can select in the app and invest in,were gonna be looking at some of the,etfs that sofi has to offer,and so far currently has around six etfs,that are exclusive to the sofi,platform im gonna be looking at these,etfs right now,and going over these etfs with you guys,so the first etf,is the sofi weekly dividend etf and yes,that is,exactly what it is this etf will pay you,dividends every single week,it says get paid weekly with the sofi,weekly dividend etf,weekly seeks to provide investors with,consistent income,by tracking the sofi sustainable,dividend index,made up of the most consistent dividend,paying companies globally,if your main goal is to get paid from,the dividend investing or get paid from,dividend investing,this is a great way to do so with this,pre-built sofi etf,also this is a good time to mention that,sofi does support drip which means,dividend reinvestment plan where your,dividends are automatically reinvested,for you,so normally when you have stocks in a,stock brokerage and they yield dividends,usually those dividends will accumulate,in your investment,account as a cash balance you would then,have to take that cash balance and then,reinvest it yourself if you wanted that,money to go back,into your investments so drip is just,the way of reinvesting,these dividends and instead of them,sitting as cash in your brokerage,account,theyll automatically be reinvested in,your investment portfolio,and that way you can easily compound by,using,your dividends now so fi has another etf,which is really similar to the dividend,income etf,and this is called the sofi weekly,income etf and this one says,tgif is an actively managed etf,that seeks to provide weekly income by,in

SoFi Invest Review 2022

so today im going to do a review on,sofi invest so this is an investing app,available on the sofi app if you dont,already have it i will have a link to,them in these show notes down below you,can check them out and it does help out,support the channel and it gets you,right into the service so,what were going to talk about is just,this portion about the pros and the cons,of using sofi invest,ive actually used them for a little,while to get a good feel of how they,work in comparison to a lot of other,apps out there,so when we go over when it comes to the,pros and the cons and the biggest pro on,this is the fact that its entirely for,free,to be using this app now there are a lot,of different brokers out there as well,and some of them are free and some of,them cost money and this is one of the,ones that is entirely free when it comes,to buying and selling,onto the stock market which is really,great and a really nice entry point for,a lot of different investors,now one of the cons when it comes to,utilizing sofi invest is the fact that,they dont actually have an overall,chart when it comes to your total,portfolio they do have this available,for individual,stocks when you go into them but when it,comes to seeing your overall portfolio,its just numbers and no line graph so,that would be something nice if in the,future they add a line graph to be able,to see,the overall portfolio now as far as some,of the pros of course,when it comes to utilizing sofi invest,is the fact that they have stocks,and etfs as well as crypto available for,you to purchase,now the great thing about these things,is that you can purchase them in,fractional shares which is a massive,deal for me,fractional shares allow you to buy into,bigger companies at whatever dollar,amount you have so instead of having to,spend two hundred dollars to buy,something like microsoft,you can spend twenty dollars to be able,to get a fractional share of,microsoft at that twenty dollars instead,of having to spend that full two hundred,its one of my favorite features in any,investing platform,because it makes it easier for a lot of,beginner investors now when it comes to,a con,on using sofi invest is the fact that,theres not a lot of data on here,now this is very similar to a lot of,other investing apps so its always,recommended that you get a lot more of,your information,at other websites such as seeking alpha,or dividends.com,or any other platform you can utilize to,get data on,your stocks or etfs that you are looking,into,now this is very important because if,you are lacking the information on these,stocks its hard to make critical,decisions,on what is going to work best for you in,your investing portfolio now when it,comes to having a,sofi account you can either have a,taxable account or a traditional,ira account so there are some,limitations on the type of accounts you,can have as of right now,so hopefully in the future they open it,up to different types of investing,accounts as well,now one of the cons for myself,personally when using this app is the,fact that they do have a,social aspect to it as well you can see,what other people are buying and selling,and you can actually post on a feed as,well where it kind of shows you what you,are buying and what youre selling,there is a turn off feature but the rest,of the fact that everybody elses stuff,is still up there is kind of a downside,for me,sometimes because you dont want to be,encouraged by other peoples decisions,when it comes to,your investing style because that is,very critical in making sure that you,dont get influenced based off of other,peoples decisions,when they might not work for your,investing strategy now the cool thing,with sofi invest is that they also have,an instant deposit feature,up to five thousand dollars and this,really means is that you can say hey i,am transferring a hundred dollars into,my account,and instead of having to wait a couple,of days for the transfer from your bank,into sofi invest it will be,instantaneous and you will have that,money available to start investing right,away,which means you dont have to waste time,in the market to be able to have that,money working for you,so on top of the instant deposits you,can also do auto deposits as well,into your account so if youre somebody,who kind of needs to do a little bit of,a set and forget,this is a great opportunity to have your,money going in automatically for you,without having to sit there and worry,about it every single week,now one of the cons when using sofi,invest is if for any reason you do need,to move money out such as dividends or,just money that is sitting there,it can take a little bit of time to,actually pull out of the service,so if you are planning on having that,money available consider waiting about,three to five business days before you,have access,out of sofi invest pro on sofi invest is,that they have what they call,drip and this stands for dividend,reinvestment program which effectively,allows your dividends that you earn from,stocks and etfs to be reinvested back,into the companies that paid them out,this really helps with compounding,interest so that way your money keeps,working hard for you every single day,now this is something that you have to,toggle on and it is not instant,so make sure that you have that set up,if you are interested in having those,dividends reinvested,now for some investors one of the other,big cons when it comes to using sofi,invest is the fact that they only have,two different order types they have a,market order,and they have a limit order available,for you and that can deter,some type of investors now another great,pro when it comes to using sofi invests,especially if you are a beginner,investor like many others out there,they have an education center and this,actually helps you out in,understanding not just the platform but,investing entirely and this really gives,a lot of people some really,good ground to be able to understand,what theyre doing and how things are,affected throughout their investing,journey,now of course these pros and cons are,really just based off of my experience,using the app,and you know for a lot of beginner,investors this might be a great,opportunity,to start learning and growing with,investing so i think this is something,that people can really get a hold of,if youre a more advanced user there are,probably some better apps out there for,you,but overall i would give this app a 3.8,out of 5,because i think it does the job really,really well to help other people get,their foot in the door when it comes to,investing,as i mentioned i will have a link to,them in the show notes down below help,support out the channel but it gets you,started right away,now after going through and setting up i,want you to check out this video right,over here,to keep on learning and growing when it,comes to utilizing sofa,invest my name is dennis and i will see,you in that next video

SoFi Investing Review (SoFi App Investing)

whats up guys im k shull welcome to,another financial awareness video,im gonna share my thoughts on the sofi,app and specifically the sofi,invest features in my previous video i,mentioned that sofi was being acquired,and taken public,by chamath palihapateas spac ipoe,which i own shares in so i thought itd,be fun to test drive the app,for myself seeing as im investing in,the company and,well here are my thoughts dude this,thing is fast its,free and its pretty easy lets get to,work,[Music],hey if youre not happy with the app or,investment account youre currently,using and are interested in moving your,money,over or just opening up another,investment account then,check out the link in the description,below for sofi,when you deposit your first thousand,dollars youre gonna get 50 bucks which,is a pretty nice deal,okay so sofi invest yes its fast free,and easy its easy because you could do,it all from the app,on your phone which is pretty similar to,other places like m1 finance,weeble and robinhood and coming from the,financial world that i lived in for over,eight years,where the client onboarding experience,was brutal,you literally had to have multiple,documents docusigned,which took a lot of emails back and,forth and took a lot of time,just to open up the account let alone to,make your first,trade which brings me to my next point,its,fast i literally did a screen recording,of my,entire account opening process and it,took me,less than four minutes from the time i,opened up the sofi,app to the time i had my first thousand,dollars in the account,ready to make my first trade i was,actually a little surprised that i had,the option to start trading,right away once that thousand dollars,hit the sofi invest account,because i knew the money hadnt left my,checking account just yet so,when i say its fast its fast also,its free i love that i can buy and sell,shares as,seldom or as frequently as i want,without incurring any transaction fees,so thats nice and i really like this,zero dollar,fee transaction trend thats going on,right now in the financial,and investing world i hope it stays that,way forever,okay so i made a quick list of all the,things that i liked about the sofi,invest,features of the sofi app and a few,things id like to see,improved which ill go over as well,these are in,no particular order but ill go ahead,and ill throw up some screenshots on,the screen so you can follow along,with me again in no particular order,first one up,you can buy stocks using fractional,shares sofi,calls this stock bits so if you,didnt have a full couple hundred,dollars to buy a share of apple for,example,you could buy a fraction of that share,which is pretty nice because with your,first,thousand dollars you dont have to put,all of that in,one fund like some people do like i,sometimes do but you can,diversify that thousand dollars into a,few different options,uh if you wanted to also you can drip,your dividends,drip stands for dividend reinvestment,purchase or dividend reinvestment,plan what that means is if you invest in,stocks or,an etfs or funds that pay you a dividend,you can take that dividend in cash which,is the,default setting for this app but you,also can,enable your dividends to be reinvested,and to purchase,more shares of that same stock or etf or,fund and you have to enable that but,its really nice that they have that,feature as well,and then you have multiple different,account types that you could open,i would imagine theyre going to add and,and tweak this list over time but as of,right now you could open up a normal,individual account which is simply a,taxable investment brokerage account you,could open up a roth ira,a traditional ira or a sep ira,and if youre not sure which of these,accounts you should open then ive got a,few videos that you can watch,to help give you a little more detail,because thats a little bit outside the,scope of,this video today also if you havent,seen my post on the community tab then i,want to encourage you to scroll over,there because from time to time i will,post things to that community tab one of,my first few posts was in regards to a,rollover that im doing from a vanguard,qualified plan over into a new,traditional ira so i opened up a,traditional ira through sofi,invest as well and thats where i plan,on investing that money,looking forward to that its gonna be,pretty fun also by being a sofi,member by having a sofi invest account,you also can track your credit score,for free so thats a nice added bonus i,usually track my fico through my amex,app so itll be nice to check and see,how they compare,between the amx app which uses experian,and the sofi app which uses transunion,so itll be interesting to see,how those two compare a few other cool,features,when searching for a stock you can,scroll down to see,which other sofi invest members,have been buying that same stock,recently and there are some,added news articles you can read as well,still a good idea to to research,across a few different sources and not,just this sofi,invest app but it is nice that they have,that feature as you continue to scroll,down,okay so i mentioned that you could see,other sofi invest members buying stocks,thats because there is a,a very real social component to this app,they have a feature called,the leaderboard which is pretty neat if,you have,your um if you have your i think its,called your social,sharing if you have your social sharing,enabled,then other people on the app can see,what youre buying and see,what youre selling uh so really,interesting because the leaderboard is,kind of fun,you can see whos doing really really,well and you could take a look and track,and see what theyre buying and what,theyre selling,pretty neat feature again a pretty,pretty very real social aspect to this,app its not just a,platform for investing you can interact,with other,members other sofi invest people which,does kind of change the element of how,you use the app a little bit,pretty fun also you can create your own,watch list so as youre researching and,learning about different stocks or,tickers that you want to either trade,or that you want to invest in you can,pop them on your watch list which is,nice,and then you also have popular investors,popular companies and,stocks that are trending popular,investors i would imagine,uh get gain in popularity by the more,people that follow them and,if you are doing really well on that,leaderboard i would imagine,more people are going to follow you to,see what trades youre picking,even though there are popular companies,and popular investors and certain stocks,that are trending,i just want to encourage you to exercise,caution not to get sucked in to,whats trending or whats popular too,much and for you to,develop your own investment trading plan,or your own investment philosophies so,that when you are executing on your,trades,you research you map out a plan you have,an entrance price point that you want to,enter into a trade at,as well as an exit strategy of how you,plan on getting,your money back are you going to take,out your basis are you going to pull out,your basis plus profit all together are,you going to slowly pull out your basis,as the stock goes,up are you going to put some stop-loss,orders in so make sure that you have a,really good,fundamental financial planning and,investment philosophy,and dont just follow popular companies,or whats trending,make sure you do your own due diligence,and your research,also auto deposits really nice feature,that you could automatically deposit,money,into your sofi invest account on a,regular basis because that will just,further encourage you to save more and,more money,the easier you can make your uh monthly,investing,goals the better so if you have a goal,of saving you know 200,a month transfer 200 bucks from your,checking account into your sofi invest,account and then you could invest it,as you want either monthly or wait for,that 200 bucks to accumulate but thats,why,the stock bits real