Daniel Egan (Bmt)

@ronlieber Here ya go; betterment.com/advice-packages

Good morning fancy financial planners who only charge via assets under management. I get requests for referrals all the time, and everyone (every. one.) just wants to pay for guidance/one-time project. Still not clear to me how to bridge this disconnect.

@hipsterbrown @Betterment 3| Don't move money to cash early for *tax* reasons: you'll owe income tax on any interest paid, and potentially paying taxes earlier than you could. As a reminder, Betterment is not a tax advisor.

@hipsterbrown @Betterment 2| The longer answer: as long as you're in a long-term cap gains treatment, you just want to wait as long as possible to realize gains. EG withdrawing on Jan 1 of next year rather than Dec 31 of this year gives you a full extra year before the taxes are due.

@bradburns04 @Betterment 2| Our expected returns are lower than history both due to valuations and interest rates, and factor into our plans & advice. That said, we'd be happy to be wrong, as surprise productivity gains have happened before.

@bradburns04 @Betterment 1| A decade's a good long period! The transient inflation shocks (shipping, parts) seem to be working themselves out. We're keeping an eye on cost-of-labor increase, which isn't the worst kind of inflation. If inflation expectations spiral, that would be concerning.

@sskim888 @Betterment 2| Our time-horizon based advice means you're never taking on more duration risk than your goal, so it's not worth trying to time bond price moves.

@sskim888 @Betterment 1| Yes, for a few reasons: - yield is still much higher than cash ($BND at 1.41% for example). - also pretty low vol - better for de-risking a portfolio. - if rates rise slow & steady, yields go up but price impact won't be extreme.

@ElliottChMiller @Betterment Of course! 1) Lots of considered defaults 🎯 2) Point-in-time info & education (Tax Impact Preview)📖 3) Goals with images, purpose, targets etc 🖼 4) We're trying! We can amplify and help, but the ground work is simply starting to save.

@Betterment @dan_bmt Did you ever read or study Richard Thaler? How of the way Betterment designs its invesment philosophy is based on his research or anything similiar from the emergent field of behavioral finance? Can you "nudge" us to good financial habits and future providence?

@bllyray @Betterment 2| 👀 that interest/yield income tends to be taxed disadvantageously relative to capital gains, and you don't have control over when the tax is triggered, so it's tricky saying it'd be better than a partial stock portfolio.

@bllyray @Betterment 1| Not on our immediate roadmap, but consider your voice heard! For now, check out our income portfolios and let us know what you think. betterment.com/resources/inco…

@nachoarranz @BettermentHelp Due to the account structure of CR, we aren’t yet able to support same day transfers between CR and investing goals. However, you can do a same day transfer from a 100% bonds taxable goal to any other taxable goal - should suit your purpose.

I understand it takes time when coming from my bank account, but shouldn’t transfers from cash reserve to build wealth be instantaneous, @dan_bmt @BettermentHelp ? My use case is clearly "buying dips" :)

Hopping on @BloombergTV in a few minutes to discuss memestocks, the end of the pandemic, and investing stimulus checks!

A quick interview on the thought that goes into plan design at @Betterment4Biz betterment.com/resources/401k…

A slightly different take on what's driving the memestonk rally, and how and why it could end. betterment.com/resources/meme…

“There have been short squeezes before, greed, the desire to make more money,” @Betterment's @dan_bmt says on the speculative trading frenzy. What is new “is that… it’s individual traders coordinating using message boards and the speed with which this information coordinates.”

GameStop is surging again as short sellers start to surrender, but will it last? "They're going to pay for the ability to have a good time in the market in the short-run, but they're not changing the economics of the company," says Betterment's Dan Egan bloom.bg/3a37VGU

@mike_frederick @Betterment Yes: the wash sale window is 30 days, for example, so we need to wait 30 days to calculate those. Another: funds have until Feb 15th to distribute *their* tax forms, generally for international income/taxation reasons.

@dan_bmt @Betterment Thanks! I wonder if there are things that can occur after the new year that would make Betterment not want to send them out right away. It just seems so automated I am just questioning why they wouldn’t basically be ready immediately. 🤔

Why do trading accounts and user-friendly retirement and savings account such as those on @Betterment take months to deliver tax statements? Not a criticism but a general curiosity. No way they're preparing these manually.

@jeckert @Betterment 👋 Dan from Betterment here. We'll be launching joint checking sometime in Q1. If you'd like to be part of the beta testing group, let me know. DM's are open.