1 Answers: Beginner Question about Robo-Advising
A couple of years ago I threw a couple thousand dollars into a Wealthfront account with a low risk score (3.0) and a monthly deposit of $100. I didn’t know much about investing except that I wanted to start. I’m 26. However after doing some research I realize that I don’t want to keep it in there forever. I’d rather put it in a Vanguard Mutual Fund or Target Retirement Fund and not touch it.
Wealthfront charges no advising fee for the first 15k I’m investing. Like I said, it’s only a few thousand in there. So I’m thinking there’s nothing wrong with keeping the money in there until it hits the 15k mark, then withdrawing and considering a smarter option. It seems like that way I get away without being charged any fees; no harm no fowl. Am I missing something?
Thanks for any advice/insights.