How to Get the Most Out of Ellevest Plus

By Ellevest Team

When we launched membership at Ellevest, we knew we wanted to give everyone the opportunity to earn more, save more, and grow your money, learning as you go. But we also knew that the moves people need to make for their money and career are pretty personal. That’s why we offer two different plans — so you can pick what’s right for you.

We also packed those plans with benefits and features designed to help you hit the money goals that are most important to you. This guide is all about the $5-a-month (or $54-a-year) Ellevest Plus membership — and how you might use it.

A hand holds a smartphone with the Ellevest app open to an investing goal. A three-dimensional bar chart, a toggle switch, a chat window featuring an avatar of a coach and a thought bubble, and a pie chart float nearby. Illustration.

What’s in Ellevest Plus?

  • Investing: Two ways you can invest, when you’re ready: Build Wealth and Retirement

  • Learning: Also included: a Learn dashboard to explore ways to get your money and career questions answered at your own pace

  • Coaching: An unlimited 30% discount on every session with financial planners

What can you do with Ellevest Plus?

Get the 10,000-foot view of your retirement

You may have a 401(k) in your current job, plus an old 401(k) from your old job, plus an IRA you started a while ago, or maybe you’re thinking of starting an IRA now. That’s a lot of retirement savings in a lot of different places. With Ellevest Plus, you can use the Retirement goal to get a holistic picture. 

Here’s how it works: 

  1. Add a Retirement goal to your account by navigating to “Investing,” then “Set up retirement.”

  2. List out what you have saved in your “outside accounts” — including retirement accounts you have elsewhere, like a 401(k), plus banking accounts.

  3. We’ll use the info you gave us about yourself when you joined Ellevest (things like your salary, gender, and age), plus the info about what you have saved in your outside accounts, to tell you the target amount to have when you retire — the full amount you should target to retire the way you want to, not just the amount for an IRA with Ellevest. We’ll also recommend what type of accounts you might use to get there.

We target getting you to 90% of your pre-retirement income at retirement, after taxes, by the way. We estimate you’ll spend a little less than you do before you retire, but not too much less. (You’re still you, and you’ll still want to do things.)

We also check in with you quarterly to remind you to update your outside retirement accounts and anything else that’s changed in your life, so this full picture stays the full picture. And if you have more personal questions about your target, you can always book a retirement check-up session with a coach.

Start investing for retirement whenever you need to

Your Retirement goal will also tell you whether you’re on track to that target number. You definitely might be doing fine with just your 401(k) you have at work — with nothing else needed. We’ll let you know that, and then you’re all set.

But you might be off track — after all, due to a lot of reasons, women retire with two-thirds as much money as men do, even though we live six to eight years longer. You also might decide that an IRA is a smart money move to make. (Here’s some more info on that decision.) If so, you might want to open an IRA using your Ellevest Plus account. Here’s how that works:

  1. You can open a traditional, Roth, or SEP IRA using Ellevest Plus. You can also open a taxable investment account inside your Retirement goal, if you need to (we’ll recommend it if we think you do).

  2. We’ll suggest an amount to deposit each month so you can catch up. (But it’s your life and your money — you can use the Goal Planner tool to tweak our suggestions whenever you want.) 

  3. You can choose to set up an automatic paycheck deposit or bank transfer for your contributions so that you’re automagically paying Future You.

  4. Then we do the investing for you, using our gender-aware algorithm. 

You also might have an old 401(k) from a previous job you want to roll over, or an IRA you’d like to transfer to Ellevest, and your Concierge Team is here to help you do that anytime.

Get started with Building Wealth

If you’re on track for retirement, you can also start investing with a Build Wealth goal. This is different from investing for retirement in a couple of ways. 

So what’s the difference? Your Build Wealth investing goal is always a taxable investment account. That means it doesn’t come with the tax advantages of a retirement account like a 401(k) or IRA. There’s also a few differences in the way we set this goal up: First, we recommend an amount you might start with that’s based on the amounts that other people like you (similar in age, income, kids, etc) decided to start with. But — just like with the Retirement goal — you can adjust our recommendations to fit your life and your budget. (And just like with the Retirement goal, you can set up recurring deposits for Build Wealth.) 

Second, they’re different “goals” for a reason — and they’re designed to be used in different ways. The Build Wealth goal helps you invest over the next five to 20 years, with a target amount and end date in mind. The Retirement goal, on the other hand, doesn’t assume you’ll need your target amount all at once — you’ll withdraw from it slowly over time once you retire. That changes the recommendations we make.

If you decide later on that you have specific money goals, like starting a business or buying a home, and want to invest for them, you can always move up to Ellevest Executive and transfer your balance to a different goal. 

Get your questions answered

We worked hard to give you what you need to know … but also to make it actually interesting. Each learning opportunity is created with you in mind by real (and pretty great) humans who are definitely not here to waste your time. You can navigate to your Learn dashboard to explore money and career topics at your own pace — and every bit of learning at Ellevest is included with your Plus membership. Here’s what you can expect:

Get started with coaching

Maybe the biggest perk of Ellevest Plus is the unlimited 30% discount on coaching sessions. This can be the secret sauce to level up your money — because you now have a team. Ellevest coaches have a ton of professional experience (take a look at the creds on their bios). And they passionately want you to succeed. 

Also important: Their guidance is all about real-life goals, not impossible ideals, and they’re focused on problem solving and using what’s really important to you to help you make decisions. That means looking past the money to what you want to do with it, and working together on strategies to help get you there.

Each coaching session is designed with your needs in mind. Some are one-and-done: 30-minute directed sessions where you solve a specific problem and come out with a quick action plan — like a call with a financial planner to help you ditch the debt. Some are more intensive, like helping you take a closer look at your retirement plan.

Bonus: With the retail price of sessions starting at $199, with the Ellevest Plus plan your $54-a-year membership pays for itself in just one coaching session discount. And if you’re in a situation where you see yourself using coaching a lot, you can bump up to Ellevest Executive and get 50% off to save even more. 

Here’s how it might all work together

Say you’re considering moving to a new city. Hypothetically, you might use your Ellevest Plus membership to:

  • Use the Emergency Fund Calculator to figure out how much to save in case (or when) things don’t go exactly according to plan

  • Use your Retirement goal to see whether you’re on track for retirement right now, to help put your decision into perspective

  • Use your 50% discount to book a 1:1 coaching session that can help you plan for new housing costs. That might be a Homebuying Strategy and Budgeting Session with a financial planner if you plan to buy, or a just Budgeting and Spending session if you plan to rent

  • Sign up for a free email course to brush up on your networking skills and start building connections in your new city

But that’s just one way to use your Ellevest Plus membership. We designed it so you can learn more about the money and career moves that might be right for you — then make a plan to get there.


© 2020–2022 Ellevest, Inc. All Rights Reserved.

The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities, and should not be considered specific legal, investment, or tax advice.

The information provided does not take into account the specific objectives, financial situation, or particular needs of any specific person.

Investing entails risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time.

As of 8/15/2022,  Ellevest Membership fees can be found here. Other fees as described in Ellevest’s Wrap Fee Program Brochure and the Ellevest Membership Terms and Conditions Agreement will continue to apply.

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