Author Topic: Aspiration.com  (Read 4184 times)

Spondulix

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Aspiration.com
« on: November 11, 2014, 03:35:30 PM »
I just saw an article on this investment firm. Anyone using it or familiar with it? Thoughts?

BEN_BANNED

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Re: Aspiration.com
« Reply #1 on: November 11, 2014, 03:45:07 PM »
An investment firm targeting people with a "victim" complex.

I wonder if Bernie Sanders and Elizabeth Warren are angel investors in this racket?

solon

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Re: Aspiration.com
« Reply #2 on: November 11, 2014, 03:51:05 PM »
I had a friend who die of aspiration. He got food into his lungs and choked on it. Great name!

seattlecyclone

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Re: Aspiration.com
« Reply #3 on: November 11, 2014, 04:10:59 PM »
The company seems extremely new, and their site provides essentially no detail on what you would be investing in if you hand them your money. I would stay away at this point.

BEN_BANNED

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Re: Aspiration.com
« Reply #4 on: November 11, 2014, 04:21:56 PM »
The company seems extremely new, and their site provides essentially no detail on what you would be investing in if you hand them your money. I would stay away at this point.

Agreed.

Why would you need an investment company charge a fee to make donations to a charity for you? That doesn't sound very Mustachian.

Would you be able to write off these donations come tax time?

trailrated

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Re: Aspiration.com
« Reply #5 on: November 11, 2014, 04:23:57 PM »
All of the articles I could find about them were from today...

wtjbatman

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Re: Aspiration.com
« Reply #6 on: November 11, 2014, 04:25:50 PM »
http://alternativebeta.credit-suisse.com/altbeta/en/ab_home.aspx?cy=USD
http://finance.yahoo.com/news/credit-suisse-liquid-alternative-beta-140800911.html
Quote
The LAB series of indices seek to replicate the aggregate return profiles of hedge fund strategies using liquid, tradable instruments. LAB indices are priced daily and constructed using an objective and transparent rules-based methodology, making them ideal candidates for index-linked products.

I already transferred my mom's savings to Aspiration. She's going to be so thrilled when I tell her she's investing like a hedge fund maverick!

Spondulix

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Re: Aspiration.com
« Reply #7 on: November 11, 2014, 04:29:47 PM »
All of the articles I could find about them were from today...
Good point - I didn't pick up on that. I want to know what they are in investing in, and how transparent they are about it when you're a user.

I really can't see people paying a fair amount for this service, either. Do they think that because they have accountability built on on their end that people won't take advantage? When it comes to money, most people are pretty dumb or selfish.

trailrated

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Re: Aspiration.com
« Reply #8 on: November 11, 2014, 04:31:38 PM »
This stood out to me

This is from the business Insider article on them
Quote
Through its "Dimes Worth Of Difference" campaign, it donates 10 cents of every dollar of revenue to provide micro-loans to struggling Americans

This is from their site
Quote
Aspiration donates a dime of every dollar we earn to help Americans working to climb the ladder of opportunity. And we make it possible for you to choose to give a portion of your profits to the charitable cause of your choice.

How is a loan a donation or am I missing something?

Spondulix

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Re: Aspiration.com
« Reply #9 on: November 11, 2014, 04:59:13 PM »
This is from their site
Quote
Aspiration donates a dime of every dollar we earn to help Americans working to climb the ladder of opportunity. And we make it possible for you to choose to give a portion of your profits to the charitable cause of your choice.

How is a loan a donation or am I missing something?
I thought it meant that a portion of your fees (paid to Aspiration) get donated to charity. So if you invest $1k and elect a 1% fee, $9 will go to Aspiration and $1 will go to charity.

What I'm confused about - are you picking what you invest in (like Lending Club)? Or are they just doing a fund of their own and you just buy into the overall fund? (Like a Berkshire Hathaway for venture capital)

dragoncar

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Re: Aspiration.com
« Reply #10 on: November 12, 2014, 11:14:23 AM »
This is from their site
Quote
Aspiration donates a dime of every dollar we earn to help Americans working to climb the ladder of opportunity. And we make it possible for you to choose to give a portion of your profits to the charitable cause of your choice.

How is a loan a donation or am I missing something?
I thought it meant that a portion of your fees (paid to Aspiration) get donated to charity. So if you invest $1k and elect a 1% fee, $9 will go to Aspiration and $1 will go to charity.

What I'm confused about - are you picking what you invest in (like Lending Club)? Or are they just doing a fund of their own and you just buy into the overall fund? (Like a Berkshire Hathaway for venture capital)

The 10% goes to a charity that does the loans.  If and when loans get repaid, the charity doesn't give the money back to Asipiration.  It uses the money again for a new loan.