Let’s face it, not everyone can be Warren Buffet, investor extraordinaire. First, most people do not have that kind of money. Many Americans live paycheck to paycheck. And most people do not have that kind of time. We’re busy. We work a job, have things to take care of at home, and that leaves very little time to pay attention to things such as investing.
Traditionally, investing required a fairly large sum of cash to get started. Then there were broker fees, and other costs. The average working person could not realistically afford to invest in the stock market. For those who were able, the learning curve was somewhat daunting. And learning, along with its setbacks, is not all that enticing when it’s costing you your own money. Money that could have been spent on necessities like food and rent.
But times have changed. In 2014, Walter and Jeff Cruttenden launched Acorns, an investment app for mobile devices, making investing accessible to everyone. The following year, the web-based version was introduced. Acorns makes investing painless because you are only investing a few cents at a time and they’ve taken all the guesswork out of the equation. From their website: “Acorns simplified the often tedious and complex process of investing. But that doesn’t mean the investment strategy is any less sophisticated.”
“Our mission is to look after the financial best interests of the up-and-coming, beginning with the empowering step of micro-investing.”
Join the over 4 million people who are currently investing in their future with Acorns.
So, what exactly is Acorns?
Acorns is a legitimate and reputable financial service that makes investing simple and affordable for anyone. Acorns is the only micro-investing account that allows you to invest spare change. Set up in under 5 minutes and automatically add money to your diversified portfolio. Acorns offers a user-friendly platform and is rated the number one investment app for new investors.
How does Acorns work?
There are many methods of investing with Acorns but the easiest is their one-of-a-kind Round-ups. When you link a credit or debit card to your Acorns Core account, they track your transactions, round up the purchase to the next dollar, and invest that amount. For example: If you spend $9.56 on breakfast, Acorns would deduct .44 from your bank account and add that to your Acorns Investment account. You choose from one of five pre-built “smart portfolios,” ranging from conservative to aggressive. If you’d like to invest more you can easily do so by taking advantage of the multiplier selection. Simply set your desired multiplier and automatically invest the round-up amount multiplied by 2, 3, or 10.
Try Acorns FREE for one month.
So, how much does Acorns cost?
After the first month, which is free, Acorns charges $1.00 per month until your account value reaches $1 million. Since we’re talking spare change, the first few months, with an account of less than $100, that fee may seem a little high but keep in mind that as your investments grow, the fee does not. So, years from now when your spare change has turned into a few thousand, the monthly fee will remain just $1.00 for the basic plan, known as Acorns Core. They also offer $2 and 3$ monthly plans.
Acorns Core at the $1/month level is free for college students.
If you’re in college Acorns just got better! The basic plan, Acorns Core, is FREE for college students. You pay nothing as long as you’re enrolled in college. In other words, there’s nothing to lose.
Start investing in your future today.
Before writing this blog post, I wanted to give Acorns a try. I signed up in less than five minutes and after answering a few questions to set up my profile had a couple of debit cards linked. Within a week, my account was growing. That was four months ago and my investment is now worth over $150. Big deal, right? What good is $150? Well, for starters, that’s from only round-ups—money I didn’t even miss. In a year, if I continue on the same pace, that will be $450. And that doesn’t account for gains on the investment. Currently I’m getting a return of 11%. That’s an outstanding percent. I have other investments that do not perform nearly as well.
When setting up my account, I chose a conservative investment portfolio with very little risk. I like Acorns system of “Smart Portfolios” because it means I do not have to pick which companies I invest in, Acorns does all the work. That means I do not have to do hours of research to find a stock. I simply linked my debit cards and that was it.
And if I should ever find myself in a financial jam, and need my money, it is available for instant withdraw to my bank account with no penalty. This alone makes it a far better option than CD’s or many investment firms.
“Acorns offers a unique solution to overcoming the mental barrier: ‘I just don’t have enough money to be investing.’”
Acorns really is investing made simple. Invest as little or as much as you want. There is no downside. Click on the link below to get started.
Give Acorns a try.
Start investing today.
Questions? Visit Acorns.com