|
We built Moka to help Canadians achieve a radically different level of wealth and disrupt the status quo. Moka is the solution that we dreamt of having—an investing app that makes it easy to get rich.
|
|
To help you get as much value out of Moka as we do, we've put together this quick start guide. As always, feel free to share your thoughts—good or bad—as that's how we get better.
|
|
|
The dashboard
|
|
|
|
Projected future wealth
The dollar amount you’re on track for based on your contributions, time horizon, and portfolio.
Note: This won’t appear on your dashboard without a long-term investment goal. To create one, tap "+ Goal" and select "Millionaire goal".
|
|
Upcoming transfers
|
|
Weekly streak
The number of weekly contributions you've made in a row.
|
|
Create a new goal
|
|
|
|
Personalize your goals
|
|
|
|
Open it
On the dashboard, tap on the goal that’s already created for you.
|
Change goal photo
Tap the photo icon to upload your own photo.
|
|
|
Rename goal
Tap the gear icon to open “Goal details”, and adjust the name of your goal.
|
|
|
|
Choose your account type
|
|
|
By default, Moka places your first goal in a non-registered account. However, choosing a TFSA or RRSP account may provide significant tax advantages.
|
|
For long-term investing, a TFSA is generally a great choice for Canadians due to its simplicity and the ability to continue growing your investment after age 71. While contributing to an RRSP may offer tax refunds, withdrawals can be taxed at rates as high as 53.53% if you withdraw fully, whereas TFSA withdrawals aren’t taxed.
|
|
TFSA
|
RRSP
|
Non-registered
|
Tax-deductible
contributions
|
|
|
|
|
Tax-free growth
|
|
|
|
|
Tax-free withdrawals
|
|
|
|
No age limit
for contributions
|
|
|
|
|
To learn more about investment accounts, check out the Savings and pension plans resources provided by the Government of Canada.
|
|
|
|
|
Change account type
Tap the gear icon, then tap the “Transfer to a TFSA or an RRSP” button on the Goal settings page and continue.
|
|
|
|
Understand your Moka portfolio
|
|
Your investment goals are allocated to specific portfolios chosen by your portfolio manager based on your investor profile and the goal's time horizon.
|
|
Moka offers five portfolios, with the Equity Growth portfolio presenting the highest growth potential. It’s 100% invested in the S&P 500 and is best suited for long-term goals of at least 10 years. |
|
Portfolio
|
Composition
|
1yr1
|
10 year projected annual avg2
|
Equity Growth
(Highest growth high volatility)
|
100% equity
|
37.48%
|
15.70%
|
Balanced
Growth |
70% equity, 30%
fixed income |
28.61%
|
11.59%
|
|
Balanced
|
50% equity, 50%
fixed income |
22.69%
|
8.86%
|
Balanced
Income |
70% fixed income,
30% money market |
6.87%
|
1.94%
|
Cautious Income
(Lowest growth low volatility)
|
100% money market
|
4.46%
|
1.76%
|
|
|
|
|
See your investment portfolio
On your goal page, tap the gear icon, then tap “Investment breakdown”.
Note: It might take up to a week for this information to appear for a new account and goal.
|
Change your portfolio
Tap the “Account” tab, then tap “Get help” to initiate live chat, then tap “Change my portfolio”.
|
|
|
See monthly statements
|
|
|
|
Access monthly statements
Tap the “Account” tab, then “Documents”, and finally “Monthly Statements”.
Note: Statements will be available in the middle of the following month once you've made your first contribution to your goal.
|
Review your statements
You’ll be able to see your transfer activities for each goal, along with the investment’s performance across different time periods.
|
|
|
Get to know your Financial Freedom Calculator
|
|
|
Gain clarity and confidence in your financial future with our patent-pending wealth calculator. Experience the power of compound interest and discover how small increases in your contributions can grow into millions over time.
|
|
Note: The Financial Freedom Calculator is only available if your goal has a time horizon of 10 years or more and is in the Equity Growth, Balanced Growth, or Balanced portfolio. To view or change your portfolio, refer to Section 4 above. To change an existing short-term goal to a long-term goal (10 years or more), tap the gear icon on your goal, then select 'Goal details,' and adjust the 'desired goal achievement date.' |
|
|
Access your calculator
Tap the “Adjust contributions” button to open up the financial freedom calculator.
|
|
|
|
Adjust the age you are targeting to complete your goal.
|
|
|
Drag on the graph to see your projected wealth at different ages.
|
|
|
Adjust the age you want to stop contributing to your goal.
|
|
|
|
|
Check out the Leaderboard
|
|
|
|
Tap on the “staircase” button to visit the Leaderboard. Updated every Monday, the Leaderboard ranks the top 100 members based on their projected future wealth.
|
|
|
|
Feedback & support
|
|
|
|
Shake to provide feedback
Your feedback goes straight to the top! It’ll even be reviewed by our CEO alongside our product team.
|
Chat with our support team
Tap the “Account” tab, then tap “Get help”.
|
|
|
The Quick Start Guide only scratches the surface of what you can do with Moka. There is still a lot to discover within the app.
|
