TL;DR: Retirement management company Blooom is offering $25 off your first year of easy, accessible financial advice with promo code: VACAAA. Offer valid through Sept. 1.
It’s 2020. You’re young, spry, with decades of life ahead of you. The concept of saving money for your future self probably sounds unappealing when you could probably use the cash today. But planting the seeds of your retirement fund now will give them the necessary time to grow, and Blooom makes it easy.
Managing money is a high stakes endeavor, and if you don’t know the definition of terms like “fiduciary,” “diversification,” and “stock/bond mix,” it can be hard to make informed decisions, which is frankly why a lot of people don’t. A study by the New York Times shows that 45% of Americans haven’t saved a single penny towards their retirement, and 87% of those who are already in retirement don’t know how to effectively manage their investments.
Close your search tabs and look to the financial experts at Blooom for answers. Blooom offers free 401K and IRA analysis, and through Sept. 1, you can save $25 off your first year with promo code: VACAAA.
Who are these ‘experts’ and why should I trust them?
Good question. Financial advice and services have typically only been accessible by those with “portfolios” large enough to warrant the attention of professional money managers. The founders of Blooom, who started off in this industry managing the money of millionaires, noticed the deficit in affordable and convenient financial services, so they decided to close that gap. Now, they’re making online 401K advice accessible for everyone, not just the top earners.
I already have a 401k, why do I need more advice?
401Ks and IRAs are complicated. Even if you have a 401K set up through your employer, you’re still on the hook for the (necessary and complicated) tasks of exposing hidden fees, targeting, rebalancing, diversifying, and monitoring your investments. If you want to know what exactly your money is doing while it sits somewhere other than inside your wallet, you need a reliable fiduciary.
“Fiduciary” comes from the Latin verb “fidere” or “to trust.” In the financial sphere, a fiduciary is a person or company that is required, by law, to act in your best interest when it comes to making financial decisions. All Registered Investment Advisors (RIA) are bound by these fiduciary standards, but not all investment firms are IRAs. Blooom is, so you can put your fiducia in them.
When you’re 65, eating your favorite dish from Denny’s Senior lunch menu, you’ll sit back in your booth and thank yourself for learning the definition of fiduciary way back when.