If we’ve had coffee together you would likely know how obsessed I am with making smart financial decisions. In fact, I’ve probably bored you with my constant analyzing of life decisions and how they effect savings goals, retirement goals etc. But isn’t is good to have a friend that’s thinking about this stuff so that you remember to think about this stuff?
I had dinner with a girlfriend once and got started talking about my 401k, blah blah blah and she said, “Gosh you sound so grown up. I haven’t even thought about retirement”.
I’m that friend that is always going to want to check in with you to see if you are planning for your future as well as your present (especially for my freelancing friends and friends running their own small businesses.)
One of the things I loved when I worked in corporate America were of course the benefits and how automated it can be set up to be. You get your paycheck, sign up for your 401k and hopefully make a contribution automatically each paycheck. Mine was 15% at the time and with the employee match it had built up quite nicely. I loved checking my statements every quarter to see the increase. It helped me feel responsible and prepared for life in retirement.
Now that I’ve been freelancing I made sure to set up the same benefit for myself that I appreciated from my past corporate life. That said, I’m a huge fan of Ellevest and here’s why:
You can set up a variety of investment accounts with no-minimum payment.
You can open accounts based on your life goals for example: “Saving for a house” account or “Moving abroad account”
They have a variety of retirement accounts and teach you about each one in a language you can actually understand. Previously this stuff sounded like Japanese to me, and I haven’t learned Japanese yet so you can imagine how hard it was trying to learn all of this in previous attempts to educate myself.
They even offer an incentive where they give you $50 for starting an account. When I first opened mine (I have two now) they gave me $100 but hey, it’s something right!
So yeah ladies, head on over and educate yourself. And if you have questions (I email them with questions at least 3 times per week) then ask! They are so helpful, prompt and will lead you in the right direction.