Our Favorite Robo Advisors with Investor Junkie

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Listen Money Matters

Careers, Business, Investing, Education

4.4 • 2.3K Ratings

🗓️ 11 May 2015

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

What is a robo advisor and should you use one? Larry Ludwig from Investor Junkie joins us to tell us what we need to know. A robo advisor is an on-line money management service that uses automated algorithms to give investment advice. It takes humans out of the equation. These are companies like Betterment, which was the first robo advisor, Wealthfront, and Personal Capital. They are geared towards younger people who are comfortable with transacting business on-line and are less expensive than traditional investment advisors. Robo advisors use a lot of complicated math but basically they look at past returns to determine future returns. A problem with some robo advisors is that while they’re tax efficient within their portfolio, they don’t all have an over all picture of your investments so are not tax efficient overall. A robo advisor should be easy to use and inexpensive. Larry recommends Betterment above the others. Robo advisors aren’t perfect but it’s better than just throwing your money into an account and hoping for the best. And if you are the set it and forget it type, they’re the easiest way to do that. Show Notes Son of a Peach: An American wheat ale. Investor Junkie: Larry’s site about all things investing. Betterment: The easy way to invest. Personal Capital: Invest with confidence. WiseBanyan: Free financial advisors. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello everybody and welcome to Listen Money Matters. I'm not a business man. I'm a business man.
0:09.9	My name is Thomas and I'm here as always with Andrew. Andrew, how are you doing this morning and what are you drinking?
0:15.1	I'm doing wonderfully, man. The sun is shining in. It's warm. I hear like the birds. I'm pretty sure they're having sex out there.
0:22.7	Have your faces blown out. Seriously. And this morning, this, well, it's 11 for me. So a little early. But I am drinking son of a peach,
0:33.5	wheat, ale, wheat, wheat, I'm saying what, what way? Very nice. I'm still in the coffee. So you're a little bit
0:45.2	of enemy right now. That's true. Which is okay. And hey guys, today's catchphrase comes from the RK
0:51.3	Creative on Twitter. But it actually comes from JayZ. And if you want to send your own catchphrases in,
0:56.6	you can do that on Twitter at Money Matters man or on Facebook. Listen Money Matters. So that's cool. But hey,
1:02.3	today we're talking to our friend Larry Ludwig about why you might want to stop trusting the
1:07.2	Fleshy Carbon-based life forms with investing advice and move over to a Robo advisor. Maybe not. So,
1:13.2	hey, welcome to the show Larry. Thank you. What are you drinking Larry? I saw you taking a
1:18.7	swig inconspicuously. It is called doose island. That's just the name of the, what type? It's a pale ale.
1:28.3	I really don't know much about it. Actually, that stuff is always in the end caps at my grocery store.
1:34.1	Like out on the floor, not in the liquor section. I had it in my refrigerator. I said, what the hell?
1:39.2	It's a good, it's not bad. I mean, it's a little stout for me, but otherwise fine. Okay. I've been
1:44.9	been looking for a left blonde as a really cool beer. I like that. I'm trying to find it. I'm
1:49.1	going to see if I can find that. I'm trying to find it. I can't find it. Okay. Really? What,
1:53.6	you're all the way out in Long Island though? Yeah. I don't know if they ship that far.
1:58.4	That was Long Island, one of the five boroughs or is it like? Well, I mean, Queens and Brooklyn are
2:03.4	part of Long Island. That's the funny thing. Most people don't consider them part of Long Island
2:07.6	technically they are. But I mean, I'm part of Nassau County, which is a little bit further east
2:12.4	between in Brooklyn, but it's all part of Long Island. Got you. Okay. I'm not as knowledgeable
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