Support

For other requests 

You can send us an email at support@xiggit.com.

For immediate help

Sign into the Xiggit app.  In the settings tab you can open a support request.

Frequently asked questions

Getting Started

Why start with Xiggit now?


Don't delay, start today. When you start today, even with a small amount you take advangtage of time. Today is the longest time you will ever have to grow money. Starting today gives your investments time to grow exponentially through compound interest.




What is the minimum?


You need to contribute at least $25 per month to your savings to remain a Xiggit member. All Xiggit savers are eligible for Boosts.




How much does Xiggit cost?  How are the fees taken out of my account?


Xiggit has a $2.00 per month fee for savers. Xiggit adds the fees to your contributions which can come out of your paycheck from your employer or from your linked bank account.





IRA

What is an IRA?


An IRA is an account set up at a financial institution that allows an individual to save for retirement with tax-free growth and/or tax-deferred basis. The custodian of an IRA must be a bank or an entity meeting standards established by the Secretary of the Treasury. You put investments into an IRA.




Why invest in an IRA?


An IRA has two large benefits: 1. One benefit is reducing the taxes you pay in the current year by reducing your taxable income. This is true for a traditional IRA (or 401k). 2. Another benefit that assets grow tax free while they are held within the retirement account. That means you do not pay the taxes on the growth of your assets during your working years. Later, when you take your assets out of the retirement account to fund your lifestyle you may have to pay taxes on the growth depending on the type of IRA. There are two IRAs that are designed for employees: Roth: Contributions into a Roth IRA are made with post-tax money. That is money that you have already paid tax on. Roth IRAs are not taxed when the money is withdrawn. Traditional: Contributions to a Traditional IRA are tax deductible for the current tax year providing you or your spouse are not investing in other employer offered retirement programs. More details about an IRA can be found at: https://www.irs.gov/publications/p590a




How much can I invest in an IRA?


For 2020, your total contributions to all of your traditional and Roth IRAs cannot be more than: $6,000 ($7,000 if you're age 50 or older).




How much does an IRA cost?


Typically the financial institution charges between $25 and $50 per year for account maintenance. This includes tracking all the assets held within the IRA, handling all the relevant tax documents, and servicing your IRA. Some financial institutions waive the IRA fee if they are offering other fee-based investment services.




What investments are available in the Xiggit IRA?


Xiggit's IRA is unique in that it has a simple investment structure. Each Xiggit IRA is held within the Tactical Allocation Conservative Fund (Securities and Exchange Commission listing TFAZX). Tactical Allocation Conservative Fund is a diversified member of the Collaborative Investment Series Trust. Xiggit IRA participants do not select invididual investments, rather they buy shares of TFAZX and the fund advisor selects the investments for the fund as outlined in the fund prospectus. All administration costs for the IRA are contained by the fund.




How do I access my money held in my IRA?


The Xiggit IRA offered through the Xiggit app can only be accessed and managed through the app.




Who is the custodian of my IRA?


US Bank is the custodian of the mutual fund. They are members of FINRA, FDIC, and SIPC. SIPC provides protection for the securities of customers of its members for a maximum value of $500,000 (this includes $250,000 of coverage for claims relating to loss of cash). Further information is available at www.sipc.com. SIPC may also be contacted at the following address: Securities Investor Protection Corporation, 805 15th St. N.W., Ste. 800, Washington, D.C. 20005-2215; Tel: 202.371.8300, Fax: 202.371.6728; E-mail: asksipc@sipc.org.




What is the fee for my Xiggit IRA?


There is no specific fee for your Xiggit IRA. You can access your IRA and manage your contrributions via the app. The IRA custodian is US Bank.





Investment

What is an investment?


An investment is an asset with monetary value that was purchased with the idea that the asset will provide income in the future or will later be sold at a higher price for a profit. When the investment is sold, pays dividends, provides rental income or generates interest the change in monetary value is called the return. The return may consist of gains (or losses).




What is investment risk?


In finance and investing, risk often refers to the chance an outcome or investment's actual gains will differ from an expected outcome or return. In general, as investment risk rises, investors expect higher returns to compensate for taking those risks. The greater the amount of risk an investor is willing to take, the greater the potential return (gain or loss).




What is risk tolerance?


Individuals have different risk tolerance levels. Risk tolerance may change over a lifetime, especially if the value of an individual’s assets change dramatically. At the start of a journey to learn about investing, idividuals may want to preserve their assets without the risk of loss and choose conservative investment options. Later, when they are more experienced with investing, have more assets, have an aggresive saving goal, or are more confident about investing they may select investments with more risk. It’s a personal journey for everyone.





Copyright © 2020 67Ready, Inc.