Seriously Simple Investing, Beanstox can help you automate your wealth. Beanstox is an automated internet-based investment advisory service to help people reach their financial goals.
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In Robo Advisor•30d
Let’s focus on building your wealth. Beanstox is an automated internet-based investment advisory service to help people reach their financial goals. They recommend a disciplined investing plan no matter what’s happening in the markets and they make it easy to set up automated weekly/monthly recurring deposits. Beanstox is a robo-advisor, simply answer a few questions and they’ll help select investments for you based on the investment goals and risk tolerance levels that you identify.
Things to Know
You make money on
Value + Dividends
Term of investment
Get a diversified portfolio managed by professionals
They create portfolios for multiple goals, all under one account
Automatic recurring deposits for different goals and automatic rebalancing
See inside MoneyMade’s 6-figure multi-asset portfolio
How you make money
You are able to earn a return through the appreciation of stocks and dividend payments. You also benefit from cheap, customized goal setting that allows you to plan for your future more effectively. Please note that deposits cannot be withdrawn for a 30-day period.
How Beanstox makes money
At the current moment, Beanstox receives $5 per month per account. It is stated on their website that in the future, accounts over $25,000 will be charged 0.25% on an annual basis as well. Beanstox receives money similar to other investment platforms through avenues such as interest on idle cash.
Is it safe?
Beanstox Inc. (“Beanstox”) is an SEC registered investment adviser and has arranged for brokerage services to be provided by DriveWealth LLC., a registered broker-dealer and member of FINRA/SIPC. DriveWealth is not affiliated with Beanstox. Investments in securities are not FDIC insured, no bank guarantee, and may lose value. Beanstox was cofounded by renowned investor, Kevin O'Leary, which speaks to the reliability of the company.
How You’re Taxed
As with any stock realized stock gains, investors are subject to capital gains tax. If gains are realized within one year, you are taxed at your income tax rate. If gains are realized after one year, you are subject to a long-term capital gains tax of 0% to 20%. A common service that some robo-advisors offer through their systems is automatic tax-loss harvesting. Tax-loss harvesting is a deliberate strategy whereby any loss from the sale of a security in a taxable account is used to offset a capital gain or taxable income, thereby reducing the tax paid.
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