Plenty is a wealth platform helping modern couples invest and plan for their future together. We bring the investment strategies and products of the wealthy to the everyday household.
✨ A journey 2 years in the making...
🎉 We're excited to launch Plenty to the public.
When Channing Allen and I got engaged, we lived the problem we set out to solve.
Our journey to starting Plenty started on a beach, dreaming about the future we wanted to create together. It led to interviewing financial planners, 10-tab spreadsheet models of our own finances, and drawing after drawing of a product we wish existed.
What started with us, led us to discovering one of the biggest problems facing our generation today. We discovered how broken the financial industry is for couples who simply want to work together, for people who aren’t financial experts, and for those early on in their wealth building journeys.
Today's couples are juggling the balance of togetherness and independence, just like they're juggling the demands of their careers and lives at home. Managing money in a "Yours/Mine/Ours" approach is the new normal. And as couples enter their 30's and 40's, they need better financial products to help them grow wealth faster:
💸 -> 5.08% APY for your cash
💸 -> 0.20% annual investing fee
💸 -> Advanced direct indexing portfolios
💸 -> and more coming soon...
We built Plenty for couples like us. Couples who believe in the power of working together.
🙏 We’re excited for a world with plenty. If you’re excited about what we’re building, we'd love to hear your questions and feedback. Try our 2 week free trial today at withplenty.com.
** The product of the day award was provided by Product Hunt, a third party. The date of the rating is May 16, 2024. Any testimonials from clients of Plenty on Product Hunt are opinions and may not be representative of the view of all clients. No compensation was provided in relation to the award or testimonial.**
@aris_nakos - Thanks Aris! We're out to make finances less stressful. 🤔 We'd also watched FTX + SBF for years and never quite understood the business... in the world of finance, if you can't understand the business... that's a problem.
@davidgarsia - It's on our roadmap, but we're staying focused on the US right now. Each country has unique financial products and tax incentives, so it takes thoughtful planning to expand into new countries 🙂
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@bestofluk excited to test it out! thanks for building this 🌟
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@bestofluk amazing, been waiting for this for a while! congrats!
Ooooh, @bestofluk, I love your Plenty product demo (and great name)! UPVOTED! You're so right; the financial industry is ripe for disruption. Growing up, my father (a CFO/Chartered Accountant) always told us to save, save, save, buy shares, invest, etc., but he sadly died, and I have very little clue. The industry is full of sharks after commissions & you have no idea who you can trust. I love the family orientation of your technology, the beautiful dashboards, the personalized planning tools for couples, etc. Are there features for children also? My kids are <11yrs, but showing them a tool like Plenty would prepare them well for financial literacy. I couldn't gather from your demo, but can users invest within your platform (i.e., in indexed funds, etc.?) Which funds in which regions are available? Can you connect with your existing bank accounts, super funds (I'm from Australia, and we have super, which is like govt forced savings for retirement), so everything is in one place.
Insurances (life, total permanent disability, income protection, etc.) are another detail finance managers always secure for you - can you lodge those in your platform also?
@emily_willis1 - Thanks Emily! This industry is full of misaligned incentives and business models that encourage and maintain that. I wrote about the 5 lies I heard from financial planners before Channing and I decided to start Plenty. [0] 👶 //Kids// We've seen people use our goals feature to open up investing goals that they've named for each kid to show their kid how to invest. It functions like it's own portfolio nested under your account. It's on our roadmap to build out standalone accounts for kids too. 📈 //Investing// We're only available for US tax residents currently - we do offer investments in both index funds & an advanced strategy called direct indexing. We invest in US domestic stocks, Intl stocks, and US bonds. Insurance is also something we're thinking about to support our couples + families.
[0]https://www.linkedin.com/posts/e...
Congratulations on your launch! I noticed that Plenty can be used not only for couples but also for families. For example, my uncle and dad are interested in investing money but don't know how to do it. They're willing to give me money to invest on their behalf. However, they also want to stay in the loop and know what's going on.
@anastasiia_stepko - Thanks Anastasiia! That's a helpful use case to know about. You're right, you can use Plenty for that today and open up accounts with either your uncle or dad.
@anastasiia_stepko Thanks for the kind words, Anastasiia! While our current focus is on couples, expanding Plenty to encompass whole family investing is definitely part of our vision for the future.
Recently, I have been doing financial planning with my girlfriend. Currently, the asset allocation is a mess. Most of it is in bank wealth management products, and a small portion is invested in stocks. I really need such a tool! I plan to give it a try. 😇
@paul_richards1 - That’s very common. We have a form of shared goal (called split goals) where you can each set the risk level / choose the portfolio for your portion of the investments. That way, you can each decide whatever makes sense while still both investing.
Congratulations on the launch! The multiplayer functionality is a game changer. Making all of your accounts “joint” is no longer an effective solution for most couples. The ability to allow couples to easily see “what’s mine” and “what’s ours” is representative of how dual-income couples manage their money today.
@adamnash Thanks for your support since the beginning, Adam! Your insight on building Plenty right has been vital for us.
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As someone who got married after we were both deep into our careers, I’ve often lamented the missing toolkit for multiplayer financial planning. Plenty is def a key part of that missing toolkit and I'm super excited to see you launch!
@will_larson Thanks for your support and insight since the early days, Will!
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I am a giant PFM nerd. The ability to track joint finances, and keep personal info separate is a game-changer. My first PFM with my girlfriend at the time was a pencil case with equally contributed cash. Couples today are almost never fully combined, or fully separate. Lives are interdependent, and so are our finances. Congrats on the launch!
@daniel_a_chen Thanks for the thoughtful note, Daniel! It's incredible (and awesome) how much the new normal for modern couples' finances has evolved. We're excited to meet and support folks right where they are :)
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