March 15, 2024 UPDATE: They just made it even cheaper! Crazy, here's the update video on the latest changes: kzbin.info/www/bejne/faPIcmyVnbuIfck
@P.I.P.E.L.I.N.E_Podcast9 ай бұрын
M1 FINANCE IS AMAZING, I have almost just about 15,000 invested in a taxable account meaning I can literally borrow $6,000 we with no credit check and only pay $37 per month in monthly payments and also the rate being below prime rate I love m1🥰💞
@m8tinajero9 ай бұрын
M1 Plus looking a lot more attractive to me now. Love how they gave us M1 Plus for free for 6 months to try. Horsepower!
@BrendanEvan9 ай бұрын
🙌 6 months is pretty awesome when they could probably get away with 1!
@njvanhorn8 ай бұрын
I recently purchased Bitcoin through M1, and the price at which I bought it was more than $1,000 below my "share price." This implies that my buy rate was significantly higher than it actually was. Also, the app's calculation of my returns, both positive and negative, doesn't seem accurate when comparing the share price it lists to the actual market rate. I understand factors like actual purchase price, spread, fees, etc. can impact the figures, but the difference appears significant. Thoughts?
@BrendanEvan8 ай бұрын
Sounds like a great question for M1 Finance support, sorry that’s happening
@maxwellglass9 ай бұрын
Your last video convinced me to switch over to Robinhood 😅 I think these updates to M1 are in the right direction but still seem limited. Hopefully my transfer from M1 to Robinhood is smoother than your experience
@BrendanEvan9 ай бұрын
Ha, they keep battling back and forth with each other! Yeah I have a video coming out soon discussing that transfer issue!
@boodles078 ай бұрын
Love me some Robinhood!
@OscarCastillo-fl9dw7 ай бұрын
Love Robinhood
@user-bm6wu9zw9m9 ай бұрын
M1 for the win 🤑
@TheBlawdfire9 ай бұрын
I appreciate your perspective. However: 1. Other banks offer savings account rates at or above 5% and they don't require you to pay $36/year 2. M1 offers poor order spreads, anyone trading enough to care about additional trading windows should likely be using a trading-friendly platform 3. Other platforms offer free crypto trading and they don't require you to pay $36/year 4. There are incredibly few situations in which you could financially justify borrowing against your stock portfolio M1's free percentage-based portfolio is great and probably the best available, but this video feels more like an ad than an actual analysis of the value it provides
@BrendanEvan9 ай бұрын
I wish it was an ad, then I’d have made money on it! There’s definitely other options that cost less, I mentioned WeBull for example.
@paulthepolarbear99146 күн бұрын
You're misunderstanding what a 40% maintenance threshold means. It does NOT mean you can borrow 40% of your account value. Actually, the lower the mainentance threshold, the less of your own money you need for an investment. If the maintenance threshold is 100%, that means ZERO leverage. If it's 10%, that means 10x leverage. In your case, you have 100k, and the broker is requiring you to maintain 40% of the total portfolio value as equity. This means: Your equity of 100k must represent at least 40% of the overall portfolio after borrowing. So, you can borrow an amount that brings the total portfolio value to 2.5 times the equity. So, for $100,000 of equity, the total portfolio value can be up to $250,000 (because 40% of $250,000 is $100,000). Therefore, you can borrow up to $150,000 ($250,000 - $100,000 equity).
@paulthepolarbear99146 күн бұрын
I can confirm that m1 has lowered the available leverage since this video (the current maintenance threshold was increased to 50%). This means 2x leverage, or the ability to borrow 100k on a 100k account.
@BrendanEvan4 күн бұрын
You're probably totally right as I've only dabbled in margin in the past. Thanks for the clarification!!
@paulthepolarbear99144 күн бұрын
@@BrendanEvan I know I'm right, because my maintenance threshold is 50%, and when I try to hold one penny more than 54k my 27k account overnight, I get a margin call email at 4:01pm.
@MindsetMoney29 ай бұрын
Do we know when the EARN HYSA will be available again for M1 Finance? I signed up in 2023 and am eagerly waiting. Thanks for the great video!
@BrendanEvan9 ай бұрын
I just double checked my account now to make sure I’m not crazy and mine is working. Have money deposited and earning interest. But I also have M1 plus…maybe that has something to do with it? Do you not see the option at all?
@MindsetMoney29 ай бұрын
@BrendanEvan Yes I have plus the entire time. But M1 still has earn on freeze for new customers. Maybe you can find additional information?
@kdkragt7 ай бұрын
No more "Plus" membership? $3 a month fee for my kids Roth IRA's (less than $10k). Fees like this is why I choose M1 in the first place. Now they are charging them. Is Vanguard the place to go to avoid these fees?
@BrendanEvan7 ай бұрын
Literally just recorded a video about this. Hang tight, posting in the next hour or so
@BrendanEvan7 ай бұрын
Video is processing. KZbin says 4k will take 70 minutes but I think it normally is quicker. May publish it before then just to get it in your hands even if its 1080. 👍 Edit: set to publish at 11:31am...in 14 minutes
@Constitution17899 ай бұрын
I'm very, very hesitant to move money around unless there's a very, very, VERY good incentive. And this change isn't good enough for me. That trade window is weird and fishy. It's like a mutual fund. 😂 You can buy stocks only twice a day? Huh...
@BrendanEvan9 ай бұрын
I think that’s a good policy to not move money around too often
@7techno779 ай бұрын
Wonder if I should stick with prizepool. Paying $100yr (now 120) for 4.x% apy but chance to win prizes. Not sure that evens out
@BrendanEvan9 ай бұрын
Yeah it has to make sense for you, I still have Prize Pool too. Then there are totally free options like Webull with 5% cash management or just buying a CD for 12-36 months and locking in a high rate before they come down...someday.
@ClownCash6 ай бұрын
Prize pool has pretty much turned into $1.10 each Friday 80% of the time with maybe 1-2 times higher and the rest extra points. I don’t pay for their stacked option and it seems I’m less likely to win much since they started offering it. Im not closing it but I’m reducing my cash held there. Was definitely more fun before they added a paid option.
@camai758 ай бұрын
I have an M1, and Fidelity. I’ll probably be closing my M1. To much bs, and horrible customer service. I hate there is not a phone number to call for help. Fidelity has someone you can actually talk to, and extremely helpful and knowledgeable.
@conggao55658 ай бұрын
i just did tranfer to fidelity today and got a rention offer, but won't change my mind. Most of my accounts are with fildiety and they support the auto invest with stock/etf as well, which is what I need.
@JWarrenPhilly5 ай бұрын
This is only so funny now that they have force closed the M1 Credit Cards on a bunch of people if not all over the next few weeks. M1 is trash. They have no support and no direction. The offerings are in a constant state of flux which is not good for an investing/finance platform. They are horrendous in all areas outside of the idea of using a pie. Wow! I just cannot imagine why another broker couldn't copy that design...
@bradbrowne49877 ай бұрын
hopefully M1 doesn't bail on me lol. I get nervous because I have a large majority of my net (roth,crypto,monthly investing account) on there that I've been reoccurring into for 3 years now My biggest fear is in like 20 years from now I see M1 is a scam and my life savings are gone lol
@BrendanEvan7 ай бұрын
Don't forget that SIPC Insurance is a thing! It won't help with crypto but otherwise, even if M1 fails you should be covered. Here's a lot more info: www.sipc.org/for-investors/what-sipc-protects#:~:text=SIPC%20protects%20against%20the%20loss,a%20%24250%2C000%20limit%20for%20cash.
@TheAllAmericanDriver8 ай бұрын
Yes to race car
@BrendanEvan8 ай бұрын
🏎️
@TalesOfJulio2 ай бұрын
Horsepower
@PapaBigFlame9 ай бұрын
W Video
@2222222aaa7 ай бұрын
This hasn’t aged well.
@BrendanEvan7 ай бұрын
lol new video is going live in 10 minutes on the update they just made this morning
@BrendanEvan7 ай бұрын
March 15, 2024 UPDATE: They just made it even cheaper! Crazy, here's the update video on the latest changes: kzbin.info/www/bejne/faPIcmyVnbuIfck