Spaceship and Raize

Anonymous

Spaceship and Raize

Hi all!
I've started looking into Spaceship and Raize...
Can someone PLEASE explain it to me or give me a heads up!!
Yes, I've read the stuff on there and the emails but I just don't get it! Sorry, potato post I know.
Thanks for your help!!

Posted in:  Life Lessons, Money

2 Replies

Anonymous

From a quick look, it seems to run on a similar method to superannuation. You put an amount of money in, choose between safe/balanced/growth options and someone else invests it on your behalf. The losses or returns depends on the choices they make. If you go in with a long term goal it may work. Look at everyone that retired around the GFC, and now in the past 18 months where returns were lower and interest rates bottomed out. They make no guarantees of success and it looks like they offer no assurance against foreign currencies crashing, and you'll have no say in your exposure to those currencies. It doesn't look like they actually teach you how to trade for yourself.

If you decided to give it a go maybe cap yourself at 100 bucks and see what happens.

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Anonymous

I have a raiz account and it's really easy. I have set up an automatic transfer of $50 a week and that was the hardest thing I had to do. I like it because unlike term deposit accounts you can put in very small amounts of money and you can withdraw money whenever you like. There is a small monthly fee. If you're only putting small amounts in you only see small gains, so it is a long term thing but I have had my account for a few years and I have never lost any money, it has grown.

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