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The Washington Post

10 years after the financial crisis, has your retirement portfolio recovered?

By Michelle Singeltary

Jon Stein, co-founder and CEO, Betterment financial adviser: “So many people lost their retirement savings when the markets crashed, and that really has a lasting effect. At the time, I saw my portfolio crash, too, but I had investing experience so it wasn’t as big of a shock for me. Seeing how the crisis affected people’s lives was a big part of why I founded Betterment in 2008. People were turning their backs on traditional Wall Street institutions, and that ultimately worked in our favor. Some of Betterment’s first customers had stories about personally losing money, or a close family member that sold everything at the bottom. I really wanted to change the financial model and offer an affordable, transparent service that prioritized people’s well being.”

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This article originally published September 10th, 2018 on The Washington Post

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