FutureMoney was founded in 2023 by fintech industry veterans Philip Barrar and Dave Fortin with the goal of helping parents create generational wealth for their children using an easy-to-use mobile app. You can set up an account, choose your investment goals, and set up recurring contributions automatically directly through the app.
FutureMoney offers a unique approach to investing by focusing on family-oriented financial goals. Unlike traditional banks, it provides specialized accounts like the Junior Roth IRA, which starts as a 529 plan and can be converted to a Roth IRA after 15 years, allowing up to $35,000 to grow tax-free.
FutureMoney is an investing platform that lets you create tax-advantaged accounts to invest in your family’s future. You can open 529 plans, Roth IRAs, traditional IRAs, or the company’s original Junior Roth IRA, which starts as a 529 plan that can be rolled into a Roth IRA after 15 years. FutureMoney offers discounts to families with limited income, so it’s accessible to anyone interested in saving money for their future as early in their lives as possible.
The platform automates the investing process, allowing users to set up recurring contributions and choose from diversified portfolios managed by experts. It also enables family and friends to contribute to a child's investment account, promoting collective wealth-building.
FutureMoney is ideal for parents and guardians looking to invest in their children's future with tax-advantaged accounts. The company offers its proprietary Junior Roth IRA, which parents can open as a 529 plan when their kids are little and let the account roll over into a Roth IRA 15 years later.
FutureMoney is also suitable for low to moderate-income families and couples seeking affordable investment options. If your family makes less than $50,000 a year, you get a discount or can use the platform at no cost.
The company can also be a good fit for anyone who’s just getting started with investing. If you prefer a hands-off, automated approach to your investments, FutureMoney can work out for you.
Fees: $0 to $4 per month for accounts under $20,000; 0.25% annual fee for accounts over $20,000. Discounts available based on income.
Product Choices and Terms
The company offers 529 plans, Roth IRAs, traditional IRAs, general investing accounts, and its proprietary Junior Roth IRA. But its pricing system is based on the balance on your account as opposed to the type of account you have.
| Account Type | Fee |
| Starter Account | None |
| Assets <$20,000 | Choose either 2% AUM or a fixed fee of $5/month or $48/year (Pro Plan) |
| Assets >$20,000 | 0.25% management fee |
A “Generations” Plan is also launching soon with premium features and expanded benefits.
Fees are income-based, with discounts available for families earning less than $50,000 annually. If your family’s annual income is $30,000 to $50,000, you’ll get a 50% on service fees. If your family makes less than $30,000 annually, FutureMoney is free.
Yes, there’s a free FutureMoney app. It allows users to monitor their investments, set up contributions, and manage accounts on the go.
The FutureMoney app has been downloaded thousands of times and has a 4.9 rating out of 5 on the Apple App Store and a 4.3 rating out of 5 on the Google Play Store.
FutureMoney's investments are held in accounts at Altruist, which is one of the largest custodian banks in the U.S.
FutureMoney’s assets are protected with up to $500,000 under SIPC, ensuring peace of mind.
The platform uses advanced, bank-level AES-256 encryption to safeguard your data.
FutureMoney stands out as a family-centric investment platform, offering affordable, automated, and secure solutions for building generational wealth. Its unique offerings, like the Junior Roth IRA, combined with low fees and a user-friendly interface, make it an excellent choice for families aiming to secure their children's financial future.
1 Washington St., #1553, Boston, MA 02108
Yes, FutureMoney is a legitimate investing platform that uses state-of-the-art security measures, and holds all its investments with Altruist, one of the largest custodian banks in the U.S.
FutureMoney costs up to $4 per month for accounts below $20,000 or a management fee of 0.25% for accounts above $20,000. But if your family makes less than $50,000 you can use the platform at a discount or for free.
The Junior Roth IRA, exclusively offered by FutureMoney, allows you to invest up to $35,000 while your child is under 18 and grow that money tax free into their retirement, based on a 529 plan to Roth IRA rollover.
Disclaimers:
AI was used in the creation of this content, along with human validation and proofreading.
You can start an investment account with no subscription fee and a 0-200bps management fee. Details: futuremoney.co/pricing
