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Acorns Investment
Posted on 11/22/18 at 3:19 pm
Posted on 11/22/18 at 3:19 pm
Have any of you invested or used the Acorns investment? I’m looking for the pros and cons with this. Thank you in advance.
5
Posted on 11/22/18 at 4:32 pm to chadzthename
I have it. Kind of a set it and forget it deal. It’s grown quickly for me. Roll with it !
Posted on 11/22/18 at 7:58 pm to chadzthename
I've used it in the past for a year or so. I found the investments to under-perform. I also tried betterment and came to the same conclusion. Now I automatically deposit into Robinhood and invest as I see fit.
Posted on 11/22/18 at 11:26 pm to chadzthename
In a world in which I can set my Vanguard account to automatically invest $XXX every week, I honestly don’t understand the purpose of Acorns.
Posted on 11/23/18 at 10:52 am to chadzthename
I’ve been using it for a few years, mostly for the roundups from my checking account. It’s added up and I have about $4K in it now just from roundups. Just a safety blanket if something comes up in addition to my savings account.
Posted on 11/23/18 at 12:07 pm to chadzthename
Cons: Pricing
Pros: Mindless investing in addition to everything else you may do.
Pros: Mindless investing in addition to everything else you may do.
Posted on 11/25/18 at 9:16 am to brass2mouth
quote:
I’ve been using it for a few years, mostly for the roundups from my checking account. It’s added up and I have about $4K in it now just from roundups. Just a safety blanket if something comes up in addition to my savings account
How does the roundup work? I suppose I could Google it, but I'd rather hear from an actual user.
Posted on 11/26/18 at 11:36 am to Vols&Shaft83
quote:
How does the roundup work? I suppose I could Google it, but I'd rather hear from an actual user.
Suppose you spent 5.75 on a purchase. It rounds your purchase up .25 cents to the next dollar. So when all of your roundups equal 5 dollars, it invests them into your acorn account. You do need to adjust the settings a bit though to what you’re comfortable with. If not, it will round up every purchase you make, which can add up very quickly if you are someone who uses their debit card a lot. Personally, mine is set to only make roundups of .50 cents or less. You can also set it up to make automatic monthly investments in addition to your round ups.
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