Sometime ago I gave an example of the financial structure of a saver, and while I believe it is a good thing to establish, I also realize that it may seem like a hassle for some of us. For that reason, many may be less inclined to make the effort. Fortunately for the less inclined, Ally bank has just launched a set of tools that encourage such structure by using what they call ‘buckets’. The idea is allow one to easily deposit money across different accounts for different reasons, similarly to what have been written throughout this blog. You can view the video of their new service on YouTube here.
I am very happy that they have done this because I know it helps give readers a better understanding of what I have been writing about.
Ally is one of the banks I use and I periodically encourage others to explore their services, especially since they have the Ally Invest managed portfolios for the passive investors. They also have services for the active investor or trader and have joined the other brokerages by offering zero commissions.