Ep. 84 – What Is a Robo-Advisor?
Have you seen or heard about a Robo-Advisor? What is a Robo-Advisor, how does it work, and should you consider it?
A Robo-Advisor is a computer that’s going to manage your investments for you operating on your instructions, but not necessarily looking out for the best opportunities. It is basically a passive investment that doesn’t give you the hands-on touch that a human advisor would.
In this episode of the Secure Your Retirement podcast, we cover why it is difficult for a computer to handle the evolving nature of retirement planning. Listen in to learn what a Robo-Advisor can do or not do for you and when you should consider it.
In this episode, find out:
- Understanding the meaning of Robo-Advisor
- How a Robo-Advisor puts you in asset allocation based on your risk tolerance
- The passive investment concept that is the Robo-Advisor
- How the Robo-Advisor helps you rebalance your investment without your involvement
- The things that the Robo-Advisor doesn’t understand about you and your investment
- The difference between a human financial advisor and a Robo-Advisor
Tweetable Quotes:
- “The what-ifs are huge and that is not answerable by a computer algorithm.”– Murs Tariq
- “If you believe that a buy and hold strategy is the best strategy for you, then a Robo-Advisor could be good.”– Radon Stancil
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.
To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to morgan@pomwealth.net.