Does wealth front/betterment tax loss harvesting actually work? How much have you saved with it?

like
Posting as :
works at
You are currently posting as works at

They (wealthfront) got fined by the SEC for their tax loss harvesting not actually working for many clients...sooo... my gut says double check your statements & ask them to prove it’s working, if that’s the biggest value prop you want to get from those services

like

It definitely helped me offset earnings last year - ~$4k in losses harvested when the market corrected late last year, all of which offset other realized gains

I thought it helped, but it only helped because the algorithm keeps trading on minor changes, I gave up on both in 2017 and just stuck my money into 3 mutual funds and let it sit, because there are no sales, just as tax effective. Both services trade way way more than they need to - in 2017 my 1099 from Betterment was 43 pages, all I did was put in $250 per month.

Be careful with the robots, it’s a fad IMO, look at the big boys like Fidelity/Schwab - find a few good funds and just do the same investments

What is this?

Related Posts

Real estate Tax question: I have a personal property and investment property in Florida. I am about to pay one off. Should I pay off the investment property or the personal home?

like
like

Have 200k to invest in real estate. Which option is better recc. Pros/cons?
CONT: For options —>

likeuplifting

I get credit alerts from Experian/ TU & was told two email addresses were found on the dark web. Have been hit w fraudulent charges in FL via Chipotle app; rec'd email that said sender knew my password (was partially correct) & was going to send nude pics of me to my contacts; rec'd email from Best Buy about my email being used to reset my pword (don't have BB acct) & today was notified of a declined transaction in Canada (I'm in TX). Besides changing pwords/ replacing cards what should I do?

like

Hello, I’m looking for help filing my tax information for a new job. I’ve been in nyc for close to two decades, and am moving from the city for a new job. I’m wondering what to claim.

like

EY folks - how do I increase my firm group life insurance coverage (not the group universal / variable policy)? My wife’s coverage is at like 3x my salary but mine is only at 1x my starting salary from 5 years ago…

like

Hi y’all! I’m a financial educator and my job is to help families in need of financial education! I help anyone on learning how money works here in the US & how to get rid of debt! I offer financial products that help you protect and grow your money. I’d love to help you out in reaching your personal financial needs!
I’m also always looking for people to hire!

like

Bank error 30k in your favor. BTC… Where to start?

likehelpfuluplifting

Client referred me to thier mother. Has $68k coming due in cds and wants income. Money is qualified. Refuses stocks. Wants some money short term. Any ideas?

like

Have 700K USD worth of invested assets (less real estate, cash/receivables, and precious metals). if I need 4K USD per month for expenses, can I now coast?

like

If you could right now, would you buy a house in full cash or invest in the market?

like

Let’s finish this up strong! What are your year-end self development plans?!
We have our last session of the year of our group/guest financial education cycles at our Downtown Toronto office this Saturday. We go through our first financial education session that we talk about basic to higher level of financial information; from saving, investing, risks and returns, registered accounts, etc. There is no cost and no obligation. If you are interested to attend in-person or via Zoom, let me know.

Post Photo
like

Quick question: Can we ask HR to revise pf contribution to minimum which is 1800/month

likehelpful

If I had a traditional IRA before being employed in a 401k eligible role, can / must I roll that IRA into the 401k or can I leave the accounts separate without deleterious tax consequences?

like

What credit cards does everyone use to maximize rewards points? What bank accounts to maximize sign up bonuses?

like

Just crafted a wonderful email to the client detailing information on how much tax they aren't gonna pay, all I get is "thanks".

like

I’m not bad with money but definitely lots of room to improve overall, due to several personal factors I don’t want to list in full here (numerous unanticipated medical bills, bad boyfriends, etc.) Hence why I only have $3k in savings right now. My first mini goal is to have $5k saved by the end of December. I need motivation and words of encouragement. If I pay off my medical bills, I won’t make my goal. I have to start putting saving money first. Getting depressed about my situation.

like

Pro tip: live close to poorer people to feel rich. The feelings of wealth are extremely subjective and is mainly based on comparison

likefunny

I get Waddle & Pollard, I give away Mattison and Davante Adams. Good or bad trade? I am 0-3.

like

More Posts

Any current or past Thermo Fisher Scientific employee that is willing to share insight of how common is to get the full yearly target bonus?

If you can work for any buyside firm (PE, HF, VC), which would it be and why?

likehelpful

London comp: I’m looking to move from one of the few fund of funds outside of London and looking at associate roles in VC fund of funds + co-investment or PE secondaries/buyout. Recruiter has told me salaries are £100k/£130k respectively. What are peoples salaries + bonus for these or similar roles in London? Would also be interesting to know analysts comp.

like

I am in search of a contact of an employee of Deutsche Bank Pune can someone help on that note

Welcome to the bowl for job referrals in Canada! Let's explore and help each other out in the corporate world. Good people know good people after all!! 😊

like

When the partner asks why I missed his deadline

Post Photo
likefunny

audit manager salary in charlotte, nc?

like
like

Ive been practicing in TX for 2-3 years at a big law firm doing mostly bankruptcy work (and some trial) and looking to clerk at a bankruptcy court in SDNY/DDE/EDVA (I am well aware of how great the SDTX judges are but I am set on leaving Texas). Anyone familiar with how many apps these judges normally get or what makes candidates stand out? Are these judges generally not interested in someone who has practiced in a different market?

like

Had to pull an all nighter and am convinced I will not make it through this day. Prayers are greatly appreciated.

like

What happens when someone sign an offer letter and decide not to join for some reason like joining a diff company?

like

Did anyone get interviewed for enterprise architect position at Collibra. Would like to know the experience and the process.

like

Hi Everyone,

TCS asks for all semrester results??.. or Final semester results with all semester grade is enough??

Thanks in advance

like

Guys i am in canada. Looking for some ideas for side gigs. Currently working as an insurance consultant. Thank you

Life with Anxiety
[In accounting]

Post Photo
likefunny

Will Infosys revise my offer letter if I will show them other company offer which is paying me more.
Infosys offering : yoe6+ SR. Consultant (5A)18lap with 15% variable

like

Anyone know what is BCG Principal / Partner Salary in London? I want to know if busting my ass here is even worth it long term

like

SQ, PLTR, and PYPL - should I keep avg down?

like

Hello sharks.

What will be the equivalent salary in India if getting $80k in Canada??

like

Is it common for a midlevel to gossip with a first year about another first year’s work? Is it common for midlevels to trash juniors amongst themselves? I think my office is hella toxic

like

Additional Posts in Personal Investment Chatter

What are your thoughts on Baidu as an investment?

like

Had my sapphire preferred for 4 years. Can I downgrade to a freedom today and re-apply for a sapphire after a couple weeks to get a new bonus?

like

Are there resources available for H1b holders thinking to invest? Less than 1year into career and have 10k sitting not sure what to do with it... I’m still unsure if I’ll be in the states long term..

like

Investing US 50k per year on a joint income of 170k. This on top of mortgage payments for a 400k penthouse. How does this look?

like

Marcus HYSA rate cut down to 2.0% :(

like

Just paid off student debt, have around 7K in savings - any tips on what to do ? Should I save up more till i hit 25-30K (do have a wedding potentially coming up in 2 years) or start dumping all money into stocks and btc? Currently putting 10% to Roth and make 100K pre tax income if that’s any help

like

24y/o, salary of 65k, contributing 7% to both Roth and Traditional 401k (about 350 each month) any recommendations on whether should keep contribution or alter it? Thanks

like

Thoughts on SoFi bank?

like

Amex Gold or Chase sapphire preferred? I'm trying to decided what credit card to get. Let me add, I'll get $150 statement credit since I have an amex card with my job.

like

Can you set automatic investments in TD Ameritrade? Looking to DCA at the start of every month into index funds without having to manually buy. Thanks!

like

I’m finally hitting a stride (now in my mid-30s) and have some cash to play around with/invest. Any suggestions or recommendations on good, long-term strategies (and/or things I should absolutely be doing) for people not familiar with having a tiny cushion of wealth? Also open to “you should hire a financial advisor, etc..”

Been dollar cost averaging for a few years now into index funds. Currently down $15k. Sometime tell me I’m doing it right…🤦

like

Is Deloitte allowed to use Robinhood? It's not a robo adviser and obviously you wouldn't invest in your clients. Or wealthfront?

like

This might be the wrong place to ask but is getting a car worth it?

I think it’ll somewhat improve QOL but with parking, insurance, gas and financing costs I’m not sure spending almost 1K/month is a good idea at 22.

The other problem is that used cars are so damn expensive right now so I can’t just buy a used mx5 for 5-10K

like

I am pretty conservative w what I invest in (pretty much all vanguard ETFs). If I wanted to take like $5-10k that I have in cash and buy stock(s), what would you recommend?

like

Okay finance gurus, I have an idea and interested in your thoughts. Might be a bad one so be gentle 🙂. I have a 2 yr old and another on the way. Need to start planning for college. I was thinking of buying a condo or 2 in lieu of saving and selling them down the line for tuition. Condos downtown are pretty inexpensive (T3) so it’s financially feasible. But is this a good idea or too risky?

like

If I’m right on the cusp of hitting the contribution reductions for a Roth IRA for 2021 (will potentially have a greater than $125k AGI depending on bonus amount, but likely won’t exceed $130k), what should I do? I can fully find the $6k right now to a Roth, fund like $5k and then wait until June when I find out my bonus amount to decide what to do with the rest, or should I just do an IRA->Roth conversion just to be safe?

How much do you keep in the bank vs brokerage?

like

I know there is no black & white answer, but what’s your thought process in deciding when to sell and keep the profit?

like

What’s the smartest allocation (for a late twenties person) of 100K right now, between ETFs, stocks, crypto and bonds? I am mostly in cash right now and feel I’m missing out on investment ops, but also wary of putting money in the wrong place. Any advice would be greatly appreciated!

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal