I’m happy to notice that American’s retirement plans are holding strong in 2021.
Last year, the average 401(k) account held $98,000, a 9.6% increase from 2020, according to a Fidelity Investments report.
The report also discovered that employees are stashing away an average of $5,850 a year in their 401(k)s.
Want to Make Extra Money Now?
What does this tell me? Well, you may need more savings than you think, especially if you want to retire early.
In fact, a little financial maneuvering right now can make you tens of thousands in the long term.
Wouldn’t it make sense to optimize and improve your 401(k) in seconds if it meant you could retire earlier?
You can do just that with Blooom.GET YOUR 401(K) ANALYZED FOR FREE
What is Blooom?
I’d heard about an online service called Blooom that’d do all the heavy lifting and optimize your 401(k) for you in minutes.
I decided to dig a little deeper on the service and wrote up this review that tells you what you need to know: Is Blooom legit? Should I use Blooom? Who created Blooom?
This video can sum it up nicely:
As we have gone over, Blooom is a service that automatically manages your 401(k) for you.
This is a great option for those who could use a little help in this space.
It’s pretty simple too, to get started, Blooom will analyze your 401(k) for free and provide you with personalized suggestions on how to better invest your 401(k) in minutes.
Featured App: Blooom
|Bonus: SavingExpert readers will get a free month just for signing up!|
How Does Blooom Work?
Blooom will analyze your 401k for free and in under 5 minutes Blooom can do all of the below:
- Show you how well you are invested
- Pick the best funds available in your 401(k) and give you exact percentages of what to invest where
- Show you exact percentages on how many stocks vs. bonds to have
- Show how much you are paying in investment fees and how to potentially pay less (average bloom client cuts their fees in half)
I got in touch with them and they are conveniently offering SavingExpert readers a free month, so act fast (Promo code: BM86QVZS).
For someone who doesn’t know how well their 401(k) is invested or would benefit from professionals analyzing it, it’s pretty powerful.GET YOUR 401K ANALYZED FOR FREE
Blooom in Action
- Finance 101 not required. No more poring over 401(k) investments that read like they are written in a foreign language. You can toss all that in the trash. Blooom will handle all the heavy lifting.
- You owe it to yourself. You and your family are going to depend on your 401(k) someday, right?
- You should be handling your nest egg with care. And if you aren’t doing it, you better find someone to do it for you… that’s where Blooom comes in.
- Better results. Using professional advisory assistance like Blooom has been shown to provide you with a greater potential long-term return.
Blooom’s pricing model is simple and very easy to understand.
There’s no account minimum, and management fees only cost a flat fee of $10 a month, regardless of account size.
Bloom says its median account balance is $47,556 —$10 a month on that balance works out to an annual fee of 0.25%.
The Good and Bad
What we liked about Blooom
- No account minimum— A feature because you cant start investing even if you don’t have a large sum of money to start with.
- First month is free — Low monthly feesafterwards if you choose to continue the service.
- Usability — One of a kind service that actively makes your 401K better. Worth every penny.
What we didn’t like about Blooom
- Support for IRAs — Only available for employee-sponsored 401K accounts, not available for IRAs or taxable accounts.
Blooom Promo Code
If you wanted to try Blooom for free for one month, you can enter the promotional code: BM86QVZS
Promotion: Blooom is offering SavingExpert readers a free analysis, which you can claim here.
Is Blooom Worth It?
Yes, we would recommend Bloom as it takes away the second-guessing and worrying about your 401(k).
You can rest easy knowing a professional advisor is handling things for your most important investments.
You can make thousands of dollars easily over the long term just by getting a free 401(k) analysis here.
More people should be doing this!
Blooom Review 20201st Month Free
Commissions & Fees8.0/10
Ease of Use6.0/10
Tools & Resources10.0/10
- No account minimum
- First month is free, and low monthly fees afterwards if you choose to continue the service.
- One of a kind service that actively makes your 401K better. Worth every penny.
- Only available for employee sponsored 401K accounts, not available for IRAs or taxable accounts.