Blooom Robo-Advisor Review – Investment Management Help for Your 401(k)
Blooom Makes Retirement Plan Investing Easy
If you’re like most workers, you understand your job just fine, but your retirement account is another matter. With all the various fund choices, how to manage your retirement account seems a bit confusing.
Blooom was designed to oversee your precious workplace retirement investment account to earn more money for you.
I had my retirement account analyzed in minutes, for free and you can too. Just click below.
Blooom Retirement Account Management Is for the Regular Investor
If you’re like the 99% of all investors, you’re seeking:
- Simple 401(k), 403(b) or TSP account management. For a low fee.
- More money for the future.
- Low $10 per month fee to manage your workplace retirement account, regardless of the value of the account.
This is how the Blooom retirement account management can help you:
Blooom also offers you direct access to financial advisors. You can ask the advisors any finance related question, even if it doesn’t relate to your 401(k)!
How Blooom Works
Once you sign up for Blooom, you link your 401(k) or other retirement account.
Blooom researches every available fund in your 401(k) and select the best funds for you.
Blooom evaluates the fees charged by your retirement plan, and selects funds that keep those fees to a minimum.
Blooom regularly monitors your 401(k) investments to ensure that they are aligned with your goals.
To ensure that your asset allocation (or percent invested in stocks vs. bonds) best meets your long-term goals, Blooom periodically rebalances your account.
Blooom Pros and Cons
Blooom can reduce one component of money stress in your life, by taking over your workplace retirement account management.
For large accounts, $120 management fee per year is quite reasonable. If your account is worth $50,000, then $120 per year is a low 0.24% yearly management fee.
You can discontinue the service at any time.
Access to financial advisors is a great benefit and is well worth $120 per year.
The sign up process is quick and easy.
You can get a Blooom free retirement account review, without signing up for the plan.
Blooom is limited by the available fund choices in your plan. If your plan doesn’t offer low fee index funds then you might be forced to pay higher mutual fund management fees.
For small accounts, the $10 per month or $120 annual charge can be a lot. With a $15,000 account balance, you’re paying an 0.80% management fee, on top of the underlying fees charged by the mutual funds.
For more detail on Blooom, please read our complete Blooom Robo-Advisor Review.
To get started with Blooom now, click below:
(You can discontinue at any time)
Disclosure: Please note that this article may contain affiliate links which means that – at zero cost to you – I might earn a commission if you sign up or buy through the affiliate link. That said, I never recommend anything I don’t believe is valuable.