If you’ve set your sights on Financial Freedom, you’ve learned how essential investments are to that goal. They’re the backbone of the strong Income Generator that will accelerate your Freedom and produce the reliable income you need to sustain it. And you’re not alone.
The Spring 2017 Merrill Edge Report found that an astounding number of Americans—including nearly two-thirds of millennials—have shifted their focus. Instead of shooting simply for security in retirement, they’ve chosen Financial Freedom as their goal. As a result, people are looking to invest earlier, maximize their asset growth and take a more hands-on approach to constructing their Freedom Generators.
And the advent of robo-advisors may provide just the means by which you can accomplish those goals. So let’s take a look at what robo-advisors are, how they can accelerate your path to Freedom and when you should ditch your automated guru in favor of a human expert.
Why Consider A Robo-Advisor?
A robo-advisor is a complex computer algorithm. Depending on which robo-advisor you use, you’ll receive advice on your portfolio structure, rebalance your assets, reinvest your dividends, buy and sell funds for you and more.
An increasing number of brokers—including Charles Schwab, Fidelity and TD Ameritrade—offer robo-advisor services to their clientele. Plus, these services are typically available for a variety of account types—brokerage accounts, retirement accounts, college savings accounts, trusts and more.
Here are some of the best reasons for trying out a robo-advisor: