M1 Finance 2-Year Review (The Good, The Bad, and The Rating)

Описание: I’ve used M1 Finance now for 2 years and it’s finally time to do a full review! It’s a service I’ve recommended for years now, but have never made a comprehensive overview of both the good and bad things about it. I can confidently say that I use every service that is offered by M1 Finance as of this year too!

I started using M1 as another taxable brokerage account for investments over and above our tax advantaged retirement accounts. Then I opened an IRA for my wife with M1. Next I started another taxable brokerage account to use for my experiment throwing darts at a dartboard to pick stocks. (video link here for that one! Dartboard stock picking: Update after 3 months!    • Dartboard stock picking: Update after 3 mo...  ) Just recently I opened a 4th account to start my SEP IRA. Towards the end of this video I explain what an SEP IRA is and why it’s awesome. All of these accounts were very easy to start with M1.

There are a few things about the app and their service in general that I don’t like. Check those out in the second half of this video. To assess a lot of different things in my life from finances to cars to bagels, I use spreadsheets. It’s a really fun way to keep a record of how good or bad something was and is something that is easily shareable too. I realized in making this video that we need a format for rating investing apps/services! So I made one! At the end of this video I go through the new rating system, it’s categories, and give an inaugural score to M1 Finance. Stick around for future reviews and ratings of other investing services/apps to see how they compare!

M1 finance links:

My SEP Pie of Victory: (The exact things I am investing in right now in my SEP IRA)
https://m1.finance/rB6iJ7dYbbHo

📈M1 Finance Investing: (Get $30 when you start investing today! To get it, invest at least $100 in an individual account or at least $500 in a retirement account)
m1finance.8bxp97.net/2rjBLD

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📗My Investing Masterclass For Beginners Course! Step by Step from beginner to stock market success!
https://www.udemy.com/course/investin...

My Free Newsletter
https://brendanevan.substack.com/
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The Investing Apps I Recommend:

👨‍💻Data made easy with Fennel, the superpowered investing app: Free trial without a credit card AND get 1-12 months free!: http://fennel.sjv.io/c/2906384/195947...

🐿Start investing with Acorns today! Best app for beginners! Get $5 when you use my invite link: https://acorns.sjv.io/c/2906384/34575...

📊Get 2 free stocks with WeBull after you deposit $100! (The best app for getting free stocks. Yes, actually free!)
https://act.webull.com/kol-us/share.h...
Or don't. No pressure!

🤿Want to dive deeper with an investing service built for the pros and available to everyone? Check out Interactive Brokers: https://www.interactivebrokers.com/mk...

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🎥 Investing Videos:
🐿Acorns 1-Year Review! [And My Actual Returns!]    • Acorns 1-Year Review! [And My Actual Retur...  
🎥Best Investing Apps for Beginners in 2021:    • The Best Investing App For Beginners!?  
❓What EXACTLY Happens to Your Money When You Invest:    • What EXACTLY Happens To Your Money When Yo...  

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💰The Savings Accounts I Recommend:
💰Yotta Savings: The savings account that feels more like a lottery! Use my link and we will both get 100 tickets! Just sign up with code BRENDAN4 or tap this link: https://withyotta.page.link/rXnbeHREF...
💰Prize Pool: The newest "gamified" saving app, similar to Yotta. Sign up and get a 10% bonus on top of all your prizes forever! Use code MQD33 or this link: https://links.getprizepool.com/USPaPg...
(These are affiliate links that may provide a small commission or bonus if you sign up using them. This is of course at no cost to you! I use both of these services.)

#investing #M1Finance
Disclaimer: Any financial or investing-related topics discussed on this channel are not from a professional investment advisor and are not financial advice for you. This is for entertainment purposes only.

⏱Handy Timeline:
0:00 Intro
0:23 The Good 1- Design
0:56 The Good 2- Ease
2:07 The Good 3- Fees and Commissions
3:01 The Good 4- Pie vs Cake
4:40 The Good 5- $ Weighted
5:55 The Good 6- Spend
6:23 The Good 7- Easy opening
7:30 The Good 8- Borrow
8:17 The Good 9- M1+
9:44 Not Good 1- Identity issues
10:46 Not Good 2- Digital wallet
11:27 Not Very Useful 1- Send check
11:48 Not Good 3- Initial acclimation
12:35 Mildly Annoying- Trade windows
13:44 Investing App Score
15:20 Conclusion

Contact me here for business purposes: [email protected]

WHO AM I?
I'm Brendan, a Dad, trail runner, personal finance nerd, and lover of spreadsheets. I make videos about the basics of personal finance.