App of the Week – Blooom

Published On September 18, 2019 | By Tom Huskerson | App of the Week

So you got a 401k. So does everyone else. You have no idea what the hell is going on with. Neither does anyone else. Thats why Blooom is the App of the Week.

Blooom claims to be the first ever app that manages your 401k for you. Blooom can manage your 401k from the first day you get the job until the day you retire. And that maybe a blessing for you youngsters out there.

Blooom manages the retirement accounts for 25,000 people. That is a small number but the money is not. Blooom is managing over $3.7 billion worth of assets. And they do it well. They’ve been named one of the top 10 most innovative companies in personal finance

How does Blooom work? They start by asking your current age and desired retirement date. Using this information they can tell you how to optimize your 401k to save for the day when you kick back once and for all. With that date in mind Blooom slowly calibrates that strategy over the course of years.

And get this; Blooom does not take a cut! They make their money by charging a single, low fee. Other money managers may take a percentage or commissions or move 401ks with billion dollars of assets around to different funds. Not Blooom. They get nothing from Wall Street.

Every day Blooom helps new people by providing free 401k checkups to determine how much of an account’s savings are being lost to high fees. Here is an interesting fact; Blooom is the only robo-advisor that can manage your 401k.

Look you could do worse. Many brokers and money managers make a killing off the fees and commissions. Even when you don’t make a dime. Thats how the game is played. Blooom is just trying it a different way that saves you some money while you save money.

To get started just visit the website.

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About The Author

Tom Huskerson Bio Born in Richmond Virginia Tom Huskerson is a military veteran who settled in California after his discharge. Tom attended Santa Barbara City College where he began his writing career as a campus reporter. He worked as an intern news reporter for the Santa Barbara News-Press writing feature stories before moving on to San Francisco. At San Francisco State University Tom studied broadcast communications and began to focus on the Internet. He completed his graduate thesis on Internet advertising. Tom was the first student to ever focus on the Internet as a graduate student at San Francisco State University. After graduation he went to work for Zona Research in California’s Silicone Valley. As a research associate Tom supported senior analyst writing on the latest developments in the Internet industry. During the dot com boom Tom worked for several web businesses as a market researcher and analyst. As a writer and researcher Tom has authored various technical works including a training program for Charles Schwab security. Other projects included professional presentations on workplace violence and hiring security contractors. Tom has also written both fiction and non-fiction works and blogging for a travel website. He has published two books of short stories and completed two novels. Tom is the owner of Scribe of Life Literature and Tom is not the chief editor for the OnTechStreet. com. A news and information blog that focuses on tech news for African-Americans. The blog is the result of his desire to inform the African American community of the dangers and benefits of the cyber age. In his blog Tom reports on information security, new and analysis, scams and hoaxes, legal happenings and various topics that arise from the age of information. Tom believes that technology is a necessary tool for black people and they should know what is happening. Tom writes believing that techno speak is for the professional and that valuable information can be communicated using plain language. As a result he has embraced the motto, Less Tech, More Knowledge.

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