Asked on 29 May 2019
Robo advisers are pretty new. The oldest one Betterment was launched in 2010 or so.
All robo advisers do are to help you purchase investment funds from all over the world, rebalance them according to your risk profile, and make certain investment decisions over the course of your investment. And the do this in an app or a website platform.
It's what traditional Financial Advisers have been doing for decades. The business isn't new. Just the delivery using technology is.
So yes, investing in funds with a proper risk profile can probably make you money. A millionaire depends on how much you invest and the outcome of the investment funds.
If you expect a long term 6% compounded growth year on year for 30 years, you only need to invest 50k to start and then an additional 9020 per year every year to achieve $1,000,000.
Robo advisors invest into ETFs. If you use backtesting, and if their parameters hold, short answer, yes.
Real life examples? Arguable. You don't need to look at roboadvisors per say to make a decision, you need to do backtesting withh their chosen portfolios.
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