What is Wealthsimple Save?

Andrew Goldman

Andrew Goldman has been writing for over 20 years and investing for the past 10 years. He currently writes about personal finance and investing for Wealthsimple. Andrew's past work has been published in The New York Times Magazine, Bloomberg Businessweek, New York Magazine and Wired. Television appearances include NBC's Today show as well as Fox News. Andrew holds a Bachelor of Arts (English) from the University of Texas. He and his wife Robin live in Westport, Connecticut with their two boys and a Bedlington terrier. In his spare time, he hosts “The Originals" podcast.

Wealthsimple Save is a savings investment account and the perfect parking spot for money you’re going to need soon. Every financial toolkit should include retirement investments to provide for stuff way in the future — Disney trips with the grandkids, retirement home shuffleboard dues, etc. You also need a checking account to buy your lunch and pay your electric bill. But where do you put the money that you don’t need to pay bills today, but need soon enough that you don’t want to risk the volatility of a growth investment portfolio? Money for your epic Africa safari, your big wedding, the down payment on an apartment or any big purchase you’re planning within the next three years. Wealthsimple Save is a smart place to put your money rather than have it sit in a checking account and earn almost no interest, no interest at all, or even in some egregious cases cost you money!

There are no account minimums or no introductory offers that will evaporate after a few months. Plus, any amount you put in Wealthsimple Save will count towards the $100,000 account balance required to achieve Wealthsimple Black status, with its reduced management fees on investment accounts. It’s easy to open, and just as easy to link to your bank checking account.

Last Updated May 22, 2020

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