With the launch of Portfolio Jars, we’ve changed the look and feel of Savings Jars and where it lives in the app. Wealth Jars is the new home for all things savings and investing - in one place to easily track your wealth.
You now have the ability to either stash away your money in a Jar for safekeeping or grow your savings by investing it in a professionally managed portfolio.
Douugh’s Stash Jars are typically for a short-term financial goal, to help you budget and organize your money (separate from your checking account). Portfolio Jars are for your longer-term goals putting it to work in a portfolio of stocks and funds to and hopefully give you a big return.
Both are critical to helping you achieve your financial goals...so what exactly is the difference? Let us explain.
Due to historically low interest rates and now the impact of inflation, money sitting in your bank account is going nowhere fast. High-interest rates seem to be something of the past. To help we’ve introduced a Jar to help grow your money.
We know investing can be hard, time-consuming, and sometimes scary so we’ve made advanced investing solutions, usually reserved for the top 1%, accessible for all. We’ve created smart, low-cost, tailored portfolios, that are managed by experts to help you get in on the investing action and reach your long-term goals.
With the right low-cost, diversified portfolio based on your risk appetite, your money can work hard towards building your long-term wealth. Expert managers will make sure your portfolio is working, whilst our smart technology continually monitors your portfolio and automatically rebalances your account, so you can stay on track.
Diversified portfolios aim to give you access to a range of investments that give you exposure to both upside potential and downside protection so your money can grow smoothly over time by growing when times are good and protecting your investments when times are bad.
Best of all, you can create as many Portfolio Jars as you like to meet your goals, and we can help you invest every payday to ensure you’re always working towards your goals.
Investing does come with risk and you can lose money. That’s why we recommend investing in longer-term goals, to give you time to ride the highs and the lows. Is it worth the risk? Over the long term, investing in the stock markets has been proven to outperform most other types of investing, including putting cash in the bank.
Traditionally your savings are typically earmarked for short-term money goals. Hopefully, after covering your basic expenses - things like rent, groceries, and loans you’ll be left with some money that you can put towards things you want to save for.
Stash Jars allow you to easily view, manage and organize your money, while also setting goals to help you save for what’s most important to you. Everyone has things they need (or want) to set aside money for, your next girls holiday, a set of golf clubs, or a new laptop.
Best of all, Stash Jars are totally separate from your Checking Account so they’re safely tucked away to stop you from spending your savings!
One of the most common reasons we’ve found people save for is a rainy day or emergency fund. It is essentially a safety net, which needs to be accessed quickly. This is why it is usually left in a savings account until needed. We give every Douugh member a default Rainy Day Jar when they sign up, to fast-track an emergency fund.
The general downside to Saving is interest rates are pretty low or non-existent. If you’re planning on stashing away your money for a while, you’ll more than likely see its value reduced due to inflation. Douugh Stash Jars do not currently offer any interest rates.
This is why we recommend Stashing it for the short-term and having a more long-term focus on investing (rather than day trading) to secure your money for your future.
Within Stash Jars you’ve got 8 available Jars to create, providing you a place to separate all your goals.
Either way, your money is covered. Stash Jars are FDIC insured (Federal Deposit Insurance Corporation) insuring you up to $250,000. Portfolio Jars are SIPC insured up to $250,000.
Gone are the days of multiple accounts or apps to manage all your finances! You now have access to Stash and Portfolio jars.
Stash Jars are for your short-term goals - usually 12 months or less, or for funds you don’t want to risk in the share market.
Portfolio Jars are for your longer-term goals - putting your money to work in managed, diversified portfolios based on your risk tolerance.
You can create up to 8 Stash Jars and unlimited Portfolio Jars.
There are risks for both.
Both Stash and Portfolio Jars are insured.
Wealth Jars are a key part of Douugh’s long-term vision to help separate out your income and either stash it away or put it to work.
So whether you’re looking to stash or grow your money - create your Douugh Wealth Jars today, set a goal, and start shaping your future!
Douugh Wealth, LLC is a registered investment advisor with the U.S. Securities and Exchange Commission. Investments in securities: Not FDIC Insured - Not NCUA Insured - No Bank Guarantee - May Lose Value. All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. The information contained in this communication is provided for general informational purposes only, and should not be construed as investment advice. Nothing in this communication should be construed as an offer, recommendation, or solicitation to buy or sell any security. Any links provided to other server sites are offered as a matter of convenience and are not intended to imply that Douugh Wealth, LLC endorses, sponsors, promotes and/or is affiliated with the owners of or participants in those sites, or endorses any information contained on those sites, unless expressly stated otherwise.