Automate getting rich
The easy way to achieve financial freedom.
Building wealth isn't as complicated as the "experts" say it is. It just comes down to investing early, consistently, and passively. We believe that getting rich should be accessible to all. That's why Moka is designed to make it easy for everyone to reach financial freedom. What is your financial freedom number?
Financial freedom or work forever?
Invest $50 per week
Total amount invested: $101,920
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Moka$ 1,133,879
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Mutual Funds$ 697,900
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Savings$ 142,064
Many Canadians can't retire
62% of Canadians are concerned they won't have enough money to retire, and this graph illustrates why. Canadians invested over $2 trillion in mutual funds and the majority of them are paying fees that average around 2%, which seriously undermine their investment returns. The exact same long-term investment can turn into almost double the money with Moka compared to mutual funds because of the fees.
This tool is provided for illustrative purposes only and is a not indicative of the performance of either Moka portfolios, mutual funds, or savings accounts.This tool uses assumes a 10% gross return based on the S&P's average annual return to illustrate the impact of fees. This assumed return is not indicative of either Moka or Mutual Funds past performance and is not meant as an expectation of future performance.
The total investment figure for Moka factors a deduction of the 3.99$ monthly fee by reducing the weekly contributions from the slider by 1$. It also factors a deduction of 0.14% from the gross 10% rate due to the average weighted MERs of the underlying ETF funds contained in the Moka Equity Growth portfolio based on the asset mix of these ETFs in the portfolio at May 31, 2022.
The total investment figure for Mutual Funds factors a deduction of a 2% MER from the gross 10% rate based on the 2019 IFIC Report "Monitoring Trends in Mutual Fund Cost of Ownership and Expense Ratios", which found the average total Cost of Ownership of mutual funds in Canada to be 2.10%. There is no amount deducted from the weekly deposit amount in this case.
The assumed savings account rate used in this graph is 1.5% which is higher than the rates offered based on our review of 16 savings accounts from the 5 largest banks in Canada. The approximate average interest rate offered is 0.63%, excluding promotional rates; this research was compiled on July 29, 2022.
This tool is provided for illustrative purposes only and is a not indicative of the performance of either Moka portfolios, mutual funds, or savings accounts
Proven long-term investment strategy
Rather than trying to time the market or guess which stocks are going to win big, investing early, often, and consistently with a portfolio of index funds is a tried and true investment strategy.
The S&P 500 is an index that lists 500 of the largest companies in the United States. Though the S&P 500 has observed several declines in its history, it has always bounced back, bigger and better than before. Even legendary investor Warren Buffet recommends it. In fact, less than 10% of professional money managers beat the S&P 500 over the long run.
Fees matter, a lot
When you're investing for your future, fees matter a lot. Many mutual funds charge 2% fees, and many financial advisors charge a 1% fee. This may not sound like much, but a long time horizon means that percentage fees will compound and undercut your returns by a lot.
Compound interest is the eighth wonder of the world
The power of compound interest shows how you can really put your money to work and how the long time horizon can get you rich. When you earn interest on your investment, that interest then earns interest on itself and this amount is compounded.
$1.2M net worth would put you in the top 1% in the world
Know you're becoming a millionaire while crushing your other money goals
Personsalized investments managed by pros
Everyone has different financial goals. Whether you're investing over a long time horizon towards a goal like financial freedom, or over the short term for a goal like your very first down payment on a home, your experienced portfolio manager will select the perfect portfolio for you and manage your investments every step of the way.
Got tons of goals? Don't sweat it.
Want to go on a vacation? Don't just put it on credit and wind up in debt. Moka makes it easy to save up for the things you want, fast.
Alongside your long-term wealth-building journey, you can set up as many savings goals as you'd like with no additional fees. Moka's short-term portfolios are more protected from market volatility, helping you grow your money with less risk.
A typical savings account offers just 1.5% interest on your money. Moka's savings portfolio sees a current yield of 2.83% on terms of one year or less, earning you almost double the return. 1
Invest with impact
When you invest with Moka, you join Mogo's 1.8+ million members in using your money for good, and creating positive social impact just by building personal wealth. You can amplify your impact by choosing Moka's Socially Responsible Investment Fund, which invests in companies dedicated to making the world better for all.
Accounts that fit your goals
TSFA
A Tax Free Savings Account lets you build wealth tax free on the gains that you earn over time.
RRSP
A Registered Retirement Savings Plan lets you defer and decrease your taxes for when you retire.
Non-registered account
A Non-registred personal investment account is a taxable account where you can continue to invest after maxing out your RRSP and TFSA accounts.
Peace of mind, at all times
Access your money any time
With Moka, you're never locked in. You can withdraw your money at any time, for free.
Talk to a human, any time
Got questions about your money? We can help. Reach out to speak with one of Moka's (human!) portfolio managers whenever you need.
Your money is safe
Your RRSP and TFSA investment accounts have CIPF coverage which covers up to $1M for all general accounts combined (including TFSAs) and an additional $1M for registered retirement accounts (like RRSPs).
Spend less than you make and invest consistently while making a positive impact
With Mogo, you can build wealth and make the world a better place just by doing your daily spending and investing. Moka, powered by Mogo, is our simple and powerful solution to help you invest early and consistently. This is the revolution. And we're just getting started.
Learn more about MogoStart getting rich with Moka
