#16 M1 Finance is in, and Robinhood is out.

<p>Oct 18, 2021. Episode 16</p> <p>In todays episode share the various fin-tech tools I have used over the past several years &amp; highlight M1 Finance and its many great features.</p> <p>I forgot to mention in podcast, the M1 Spend checking account is furnished by <strong>Lincoln Savings Bank</strong>, Member FDIC. M1 Spend Visa Debit card issued by LSB, Member FDIC.</p> <p><strong>In a nutshell:</strong></p> <p><a href="https://www.moneyunder30.com/links/m1-finance" rel="nofollow sponsored" target="_blank"><strong>M1 Finance</strong></a> is for long-term investors that want to select a portfolio and get on with their life.</p> <p><a href="https://www.moneyunder30.com/links/robinhood" rel="nofollow sponsored" target="_blank"><strong>Robinhood</strong></a> is for investors that want to learn how to trade individual stocks, ETFs, options, or cryptocurrency.</p> <p>If you follow my podcast, you know I provide insights for those wanting to build and live best life, not for those that want to day trade crypto. I will say, having been a member of Robinhood since 2015 - I bought in Jan 2016 when market pulled back - and have held those positions since. &nbsp;&nbsp;However, it's time to clean up some of my misc accounts and consolidate with a platform like M1 that offers more for the largely buy and hold investor. &nbsp;&nbsp;</p> <p>M1 does not offer joint spend accounts at this time - so if married, you &amp; spouse will each need to get account. &nbsp;For now - this can work, as you can each create account for Roth IRAs etc. &nbsp;&nbsp;M1 also has recurring deposit or withdrawal feature, &nbsp;enabling dollar cost averaging investments - or if living on investments, allowing routing transfers into a joint bank or credit union account.</p> <p><br></p>