Question 1

What is Elenvo and how does it work?

Accepted Answer

Elenvo is an AI-powered financial planning platform. You complete a short intake form about your financial situation, our AI analyzes your data and generates a personalized financial plan with tax implications, and licensed financial advisors are available for consultation to review your plan.

Question 2

Is this financial advice?

Accepted Answer

This is educational information and technology-assisted planning, not personalized financial, investment, or tax advice. For specific recommendations tailored to your situation, consult with a licensed financial advisor or tax professional. Elenvo connects you with licensed advisors who can provide personalized guidance.

Question 3

How is the financial plan generated?

Accepted Answer

Our AI analyzes your intake form data using retirement planning knowledge and tax rules. It evaluates your retirement accounts, insurance needs, and tax situation to generate personalized recommendations with long-term projections based on your specific situation.

Question 4

What does the plan include?

Accepted Answer

Your plan includes personalized financial recommendations, tax optimization strategies, insurance gap analysis, and access to expert advisor consultations. The plan is tailored to your age, income, retirement goals, and risk tolerance.

Question 5

What is a 401(k) rollover?

Accepted Answer

A 401(k) rollover is moving funds from your employer-sponsored 401(k) to another retirement account, typically an IRA (Individual Retirement Account). This commonly happens when you change jobs, retire, or want more control over your retirement investments.

Question 6

What's the difference between a direct and indirect rollover?

Accepted Answer

A direct rollover transfers funds directly from your 401(k) to your new IRA without the money passing through your hands. An indirect rollover sends you a check, which you must deposit into your new IRA within 60 days to avoid taxes and penalties. Direct rollovers are simpler and avoid potential tax issues.

Question 7

Will I owe taxes on my rollover?

Accepted Answer

If you roll over from a Traditional 401(k) to a Traditional IRA, there are no immediate taxes. Rolling over to a Roth IRA is a taxable event because you're converting from pre-tax to after-tax money. Our AI plan analyzes the tax implications specific to your situation.

Question 8

Can I roll over to a Roth IRA?

Accepted Answer

Yes, but rolling over from a Traditional 401(k) to a Roth IRA is a taxable conversion. You'll pay income tax on the amount converted in the year you roll over. This can make sense if you expect higher tax rates in retirement or want tax-free withdrawals later.

Question 9

How long does a rollover take?

Accepted Answer

A typical direct rollover takes 2-4 weeks. The timeline depends on your old 401(k) plan administrator's processing speed and your new IRA provider. Some plans may take longer. Our step-by-step instructions help you track the process.

Question 10

Is my financial data safe?

Accepted Answer

Yes. All data is encrypted in transit and at rest using bank-level 256-bit SSL/TLS encryption. Your information is hosted on SOC 2 Type II audited infrastructure (Supabase/AWS). We never store your bank login credentials—bank connections use Plaid, the same secure service used by Venmo and Robinhood.

Question 11

What data do you collect?

Accepted Answer

We collect only what's necessary to build your financial plan: age, income, retirement account balances, goals, and risk tolerance. If you link bank accounts, we access read-only transaction data to provide cash flow analysis. You control what data you share and can delete it anytime.

Question 12

Can I delete my data?

Accepted Answer

Yes. You can request full data deletion from your account settings at any time. You can also export your plan data before deletion. Once deleted, your data is permanently removed from our systems within 30 days.

Question 13

How much does the plan cost?

Accepted Answer

Elenvo costs $0.99 to get started, then $99/year for continued access to your plan, updates, and expert advisor consultations. This is a limited-time introductory offer. There are no hidden fees or commissions—we don't sell financial products.

Question 14

What's included in the free vs. paid plan?

Accepted Answer

For $0.99, you get your complete AI-powered financial plan with tax analysis and recommendations. The $99/year subscription includes plan updates as your situation changes, expert advisor consultations, and access to advanced features like financial overview and cash flow analysis.

Question 15

Is there a refund policy?

Accepted Answer

Yes. We offer a 30-day money-back guarantee. If you're not satisfied with your plan for any reason, contact us within 30 days of purchase for a full refund.

Question 16

Why do you need my bank account?

Accepted Answer

Bank linking is optional and only used for the Transaction Overview feature. It provides cash flow analysis and visualizations to help you understand your spending patterns. This is not required to generate your rollover plan.

Question 17

Is Plaid secure?

Accepted Answer

Yes. Plaid is used by thousands of financial apps including Venmo, Robinhood, and Betterment. Plaid uses bank-level encryption and never stores your bank login credentials. Elenvo only receives read-only access to transaction data—we cannot move money or access your login credentials.

Question 18

Can I disconnect my bank account?

Accepted Answer

Yes. You can disconnect your bank account with a single click from your Transaction Overview page or account settings at any time. Disconnecting removes all synced transaction data from your account.

Frequently Asked Questions

About the Service

About 401(k) Rollovers

Security & Privacy

Pricing & Payment

Bank Linking

Important Disclaimer