Acorns - Invest Spare Change from Everyday Purchases into a Diversified Portfolio
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►WELCOME TO MICRO INVESTING◄
Investing was for the wealthy. Now it's for everyone! Acorns helps you save and invest small amounts regularly into your own diversified portfolio. Start with just your spare change and join over 1 million taking steps to improve their future. It only takes minutes!
○ Painlessly invest your spare change into a diversified portfolio of over 7,000 stocks and bonds automatically
○ Easily invest more - with Recurring Investments (daily/weekly/monthly), One-Time Investments, Referrals, and Found Money!
○ Watch your progress – check in on your account from anywhere
○ SPIC insured – up to $500,000 is protected against fraud so your money is secure
○ Stay educated – Gain access to our online personal finance publication, Grow Magazine
○ Withdraw anytime – at no charge.
►WHAT THE WORLD IS SAYING◄
FORBES: “The app makes investing effortless.”
ABC NEWS: “If you set aside just $5 every couple of days you would have set aside $1,000 in a year.”
WIRED: “Acorns simplified the often tedious and complex process of investing.”
US NEWS: “Acorns offers a unique solution to overcoming the metal barrier: ‘I just don’t have enough money to be investing.’”
GOOD MORNING AMERICA: “Painless! It’s like dropping your change into a bowl on your table, like we all do everyday.”
►TRUSTED AND INTELLIGENT◄
○ 256-bit encryption to keep your information safe and secure
○ Automatically rebalances your portfolio – buys low and sells high
○ Automatically re-invests your dividends for you
○ Diversified Portfolio includes hundreds of international companies, corporate and government bonds, and real estate.
Acorns costs $1 per month for accounts investing less than $5,000. After your account grows past $5,000, the fee switches to 0.25% per year (@$5,000 that’s about $1 a month). That’s like 3 semi-fancy cups of coffee (you know you do it) a year, just to invest in your future.
In order for Acorns to invest your spare change from purchases, which is part of why we charge $1 per month, you will need to connect a bank account. Worry not - we've got 256-bit encryption. That's a nerdy way of saying we're as secure as the people you bank with. Now, stop reading and get invested.
This app is operated by Acorns Advisers, LLC, an SEC Registered Investment Advisor. Brokerage services are provided to clients of Acorns by Acorns Securities, an SEC registered broker-dealer and member FINRA/SIPC. Investments are not FDIC insured and may lose value. Investing involves risk and investments may lose value, including the loss of principal. Please consider your objectives and Acorns fees before investing. Past performance does not guarantee future results. Investment outcomes and projections are hypothetical in nature.
Information about FINRA is available at www.finra.org. Explanatory brochures about SIPC insurance are available upon request or at www.sipc.org.
What's New in Version 1.5.6
Thanks for using Acorns! Just like small contributions to your Acorns account can add up to something big, small improvements make the Acorns app better over time. With this update, you can now pick a day of the week or month for your recurring investment. And as always, we’ve also made some enhancements to make Acorns work even better for you. Happy investing!
One of the Great Investment Option Around
Intuitive app, intelligent investment strategy, low fees (depending on position). The app is one of the most well designed apps in any genre... The investment strategy is relatively safe over the long-term (no guarantees in stock market tho) and the auto rebalancing is awesome! The flat fee of $1 a month is righteous.. They could charge so much more but, given their low cost model, they choose to pass on saving to customers and emphatically rebuke the high fee system of old. I also use a competing service that starts with a "B" and they charge WAY more if your auto deposit isn't at a certain amount each week (without providing alerts that tell you how to minimize this fee)... Not to mention their holdings aren't as apparent as ACORN and their app isn't as intuitive.
NOTE: please refrain from giving the company/app a low rating because you have paper losses from market fluctuations... Or if you haven't put enough money in your account to see any paper profits as the one dollar fee erodes them (just put a little more in each month or wait to use this service until you can). You are doing this app, potential customers and yourself a huge disservice by giving up on your investment future and writing an uninformed review about it.
Nice Gimmick... But not entirely worth it.
It's a nice gimmick to encourage people to save for their future. I have a few problems with this application.
1. It is geared for the youth, but they have unstable incomes, so sometimes the autowithdrawls can overdraft their bank accounts, putting them at risk of account closure and a whole lot of disaster. Even in a bad situation could effect their credit.
2. If you are a student you can have an account fee-free, just call them, this is a good option for students. But as for fees and when you are investing in small amounts of money, the fees eat away at the investment. There are better options out there like Vanguard and Fidelity for mutual funds. For stock trading, I would recommend checking out Robinhood.
3. It is hard to track the progress of your investment. You have to log into the computer. I personally don't like not knowing what stocks or mutual funds I am investing in from the start. It's not viewable on the app, I have a problem with that. Nor are there screenshots on fund performance.
4. A huge one for me, despite they say to not attempt at trying to time your investments. I would want a notification if price drops, because I can't check every day and it would make me want to put more money in quickly. They do not have the capacity to do real time trading/investing. So really you are just investing and who knows what the price is going to be when they invest you. That is a big one for me.
Helps you save money
The app works perfectly, rounds up spare change and invests it for you. It adds up to quite a bit after a few months of usage. I recommend adding multiple accounts and cards to really watch you account grow. The app is very safe and reliable. The addition of found money on the app is really great because especially if you are a part of dollar shave club, acorns will invest 10 percent of your order in addition to round ups! The only downside to the app is that there is a long delay for round ups, so if you spend money at a continence store on Monday, the round up won't appear till the following week, which makes it hard to keep track of round ups. As long as that doesn't bother you, the app is a great investment and worth your time.