After setting up your own Savings Plan, the Savings Plan algorithm will invest in an asset according to your set budget, selected number of fractions as well as preferred asset category on the second Thursday of every month starting at 10.30am (CET). 48h before that, the algorithm will reserve this asset by creating an open order for it.
So how does the algorithm-driven selection and investment process work exactly?
First, all assets that have the status Open or Coming soon, and that are scheduled to drop on the second Thursday of the current month, are selected.
All remaining assets are then filtered according to the criteria of your selected category.
From this selection, assets that you already own shares of are filtered out as well.
After those screening steps, the remaining asset will be selected. If the remaining selection offers more than one suitable asset, the asset with the closest drop date will be selected.
The selected asset will be reserved for investment on the second Thursday of each month - you will be receiving an email with all relevant asset details 48h before the investment.
If you do not like the selected asset you can skip the asset by clicking on the dedicated option within that email. In that case, no investment will be made for that month.
If you approve of the selected asset, you do not need to do anything - the investment will be made automatically on the second Thursday of each month.
How long does the Timeless Savings Plan run for?
The Timeless Savings Plan runs for 12 months. After this time period, you will be asked whether you would like to continue. If you do not confirm the continuation of your Savings Plan, we will automatically cancel it. You can of course set up another at any point after that.