No matter how spiritually advanced you may be, we all live in a physical world with physical needs. Money remains the value transition medium of the physical plane, and we’ve all got to come to some sort of balance with finances in order to be healthy and secure.
Still, we all know that we don’t want to become overly absorbed in our own financial situation. Money has a sticky way of absorbing the preoccupations of people who try to acquire it, and this can be counterproductive to spiritual progress.
Fortunately, there are a number of ways that people are using technology to help care for their financial needs, without having to spend so much time working and thinking about it. This leaves time for more mindful pursuits. One of the best technological advancements to provide aid in this manner in recent years is Betterment investing for the future or retirement.
What is Betterment and How Does it Work?
Betterment is a complex piece of investment software that intends to help people invest, without charging them a lot of money, and without requiring them to pay a great deal of attention to the process. Sounds great, right?
Well…it is. Betterment is a simple solution that works really well and a lot of people like it. It works thusly.
You deposit some money into a new account, either to invest money for some future goal or to provide future security for retirement.
Betterment’s algorithms spring into action. They ask you a couple of questions about yourself and your goals, then they select a variety of index funds that will help you meet these goals from a financial perspective.
The funds that are chosen are mostly ETFs, or Exchange Traded Funds. These are really cool products that take hundreds of different company stocks and put them into a single product. It would take a lot of time an money for you to buy all of these products. Instead, they’re now all available in a single convenient package.
The best part is, you don’t have to do the buying. You don’t have to even think about it. Betterment will put your money into diverse ETFs that put your money into companies all around the world. As economies grow, so will your balance, without your ever having to think about it.
If you want to further automate this process, you can choose to make regular deposits into your account so that your account is always growing and working to meet your future needs. If you ever need to change your goals for any reason, you can go over to Betterment and tell the system to make your portfolio more aggressive or conservative, depending on how much money you need and when you need it.
Betterment even offers ways to lower your tax bills, by automatically doing a service called “tax loss harvesting” that buys and sells ETFs in such a way that your tax burden is lower.
There are a ton of great things that could be said about Betterment, but the long and short of it is that you can get all the benefit of a great investment portfolio without having to think about it. In fact, the company describes their service as “Set it and forget it”.
Spiritual people often don’t like to think about money very much. It can feel like just the wrong thing to do if you want to be more mindful, but without organizing personal finances in a smart way, this can create lots of problems later in life that can make spiritual living even more difficult. Good luck on your journey!