Should Your Small Business Investments Drive Themselves?
Staff Editor
2 min read
Automating your investments sounds like a dream, doesn’t it? No more fretting over when to buy or sell, what stocks to pick, or how to diversify your portfolio. It’s like having a financial fairy godmother that takes care of all the heavy lifting for you. And with the rise of robo advisors like Betterment and Wealthfront, this dream is now a reality for many savvy investors.
Picture this: you set it and forget it. Money automatically deducted from your paycheck each month and funneled into your various savings and investment accounts. No fuss, no hassle. It’s like the set-it-and-forget-it feature on your coffee maker, but way more lucrative. Lawrence H. Gennari, a partner at a business law firm, swears by this method, especially for entrepreneurs who are busy launching their startups. He believes that investing in yourself is a crucial form of self-care, essential for long-term personal success.
But before you jump on the robo investing bandwagon, there are a few things to consider. Are you comfortable with a tech-based approach to managing your finances? Not everyone is gung-ho about letting algorithms make decisions for them. And that’s perfectly okay. It’s important to find a method that aligns with your comfort level and financial goals.
Time is money, as they say. And if you’re a business owner, time is a luxury you can’t afford to waste. Cue robo investing, the ultimate time-saving tool for the busy entrepreneur. Qian Liu, co-author of The Little Book of Robo Investing, emphasizes the importance of efficiency when it comes to managing your investments. With robo advisors, you can kiss goodbye to the endless hours spent analyzing market trends and managing your portfolio manually.
When choosing a robo advisor, think about what features are non-negotiable for you. Do you prioritize low fees, personalized advice, or support for specific types of accounts like SEP-IRAs? Platforms like Acorns, Ellevest, and JP Morgan Automated Investing offer a variety of features to cater to different investor preferences. Just like running a business, investing is a long game. It’s about setting yourself up for success in the future by making smart decisions today.
So, if you’re considering robo investing, take a moment to assess your comfort level with technology, your time constraints, and your must-have features in an advisor. With the right robo advisor by your side, you can automate your investments with confidence, knowing that your financial future is in good hands. Who knew that investing could be as easy as making a cup of coffee?
