You Could Download Vault. Or You Could Die Miserable and Penniless.

Old man, look at your life ...

By Kirk Miller

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08 June 2017

Maybe you’re set for retirement.

Maybe the second you joined a big firm, you had a 401K ready to go.

Bully for you.

Or, maybe you change jobs a lot. Or your employer hasn't set up a retirement plan. Or you're like an increasing number of Americans who are freelance contractors and have volatile income.

Doesn’t mean you can’t think about the future. And that’s where Vault comes in. The app, just released this week, automatically invests a percentage of your income into a retirement plan every time you get paid.

As founder Randy Fernando notes, he started Vault “to make long-term investing available to everyone. As a former JP Morgan advisor, I saw first-hand how hard it was for most people when they didn’t work for a big company that provided retirement benefits.”

With Vault, you just link your bank account to the app and set a contribution percentage. That’s it. The company will then invest your money in exchange-traded funds (ETFs) across up to 28,000 stocks and bonds, and you can track your retirement plan on your app. The service charges $1 per month (if your account is below $5000) or 0.25% per year.

The app is now available for free on iOS and Android.

Happy saving.

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