![]() ![]() You can even combine a Custom Pie with an Expert Pie if you want to add your own spin to a pre-existing Pie. But if you aren’t a fan of its Expert Pies, the platform allows you to build one of your own. It’s customizable : M1 is better for more experienced investors who want to save time.It keeps your goals on track : M1 has a “rebalance” button that helps you stay on track with your goals over time.For retirement accounts, it’s still a nice-and-low $500 minimum. It has low minimums : If you’re investing in individual stocks, M1’s minimum is $100.Aside from the low costs, investors also like M1 because: īut compared to other platforms, it’s a downright cheap option for investing. M1 mostly makes its money from interest and Plus memberships, as well as miscellaneous fees. In terms of fees, there are no portfolio management fees or trading fees. Honestly, there’s a lot to love about M1 Finance. The benefit is that you can score a 2.5% – 3.5% interest rate on the loan, which is lower than what you’d probably find elsewhere. Basically, you can use your investments as a line of credit, borrowing up to 35% of your portfolio’s value. As long as you have $10,000 in your account (aside from an IRA, which doesn’t allow borrowing), M1 allows you to borrow against that money. M1 Borrow : Both Basic and Plus members can borrow against their M1 portfolio.If you’re an M1 Plus member, you can access the Owner’s Rewards Card for 2.5% – 10% cashback. M1 Spend : M1 can provide a digital checking account for you through Lincoln Savings Bank that comes with a debit card and ATM fee reimbursement.Pick from any of M1’s 80+ Expert Pies, which are curated portfolios chosen by the M1 team, or create a completely customized portfolio of your choosing. M1 will even let you set up a traditional IRA, Roth IRA, SEP IRA, custodial accounts (M1 Plus only), and trusts. M1 Invest : The platform lets you invest in individual stocks, REITs, ESGs, and ETFs.When you sign up as an M1 member, you’ll have access to its three main products: M1 Plus gives you lower interest rates on loans, a checking account, and even a crazy 10% cashback credit card. ![]() For a $125 annual fee, you can join M1 Plus and access even more features on the platform. Investors love M1’s ultra-low fees and automation features. It’s mostly an investing and money management platform, but you can also use it for loans and even as a checking account. But it does not affect our recommendations or advice. This may influence which products we mention, review, and where they appear on our site. We’re paid by our brand partners and advertisers. However, we’re proud of the financial education and guidance that we provide at no charge. We do not feature every company or financial product available. We want everyone to be able to make educated financial decisions. Previous market performance does not guarantee future performance. The examples we provide are hypothetical and we encourage you to get advice from a qualified professional regarding specific investment, tax, legal, and financial issues. ![]() Minority Mindset does not and cannot guarantee the accuracy or applicability of any information regarding your individual circumstances. But these are for informational purposes only, they’re not investment advice. We do our best to provide financial education with our free videos, articles, tools, and other self-help content. Always do your own due diligence and never blindly listen to a random article on the internet. Minority Mindset, LLC is an independent, advertising-supported publisher.
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