Betterment

Betterment has been automating investment portfolios since 2008, removing the need to pick individual stocks or constantly rebalance your holdings. The service builds a portfolio of low-cost index funds and ETFs matched to your target retirement date, then automatically harvests tax losses throughout the year to reduce what you owe the IRS. Advisory fees start at 0.25% annually with no account minimum.

For retirees who find stock-picking stressful or time-consuming, Betterment's hands-off approach is liberating. The service handles portfolio adjustments as you age, and the tax-loss harvesting adds real dollars back to your account year after year, particularly valuable for investors with substantial portfolios.