Acorns Investing App

The growing technology world has allowed investing to become incredibly easy. Back in the day, long before my days, people had to physically write on a slip of paper what stocks they wanted to invest in and bring it to their broker. Now, someone could buy 1000 shares of a company in 4 clicks. Technology has also given people access to information about the stock market and the companies it consists of right at their fingertips, they no longer have to dig through the newspaper for information. What I have noticed from most moderate investors or people that want to invest but “don’t want to put in the work” is that even the ease technology has given the market is not enough. Brokerage apps such as E*Trade, TD Ameritrade, Charles Schwab, and even Robinhood are too much work for people. However, Acorns, a newer investing app, makes the process even simpler.*

The Acorns investing app’s main feature that differentiates itself from the competition is its emphasis on rounding up your purchases to invest. After signing up which takes less than five minutes and making a minimum initial investment of only five dollars, you can begin a lifelong investment journey after only five minutes of your time and five dollars from you wallet. Then, every time you make a purchase using a credit or debit card, Acorns rounds up the purchase to the nearest dollar and invests that extra money for you.

Let’s say you buy a book using your debit card that costs you $18.12 after tax. Acorns will round this purchase up to $19, and invest the $0.88 into your Acorns investing account. The amount of money you invest doesn’t seem like much but over time it will add up, especially if you decide to set up an automatic recurring investment, such as $5 a month. Once all this is set up along with your risk plan (low, moderate, moderately aggressive, etc.) Acorns finds bonds, stocks, ETFs and other investment forms that best fit your budget and risk plan and invests percentages of your money in each one. Acorns then gives you a potential analysis and tells you how much money they project you will make if you consistently keep up with your plan at any age. One investor who discussed the app with us explained how she is only on a $5/month plan and is projected to have $73,000 in her account by age 60!

It is important to remember that the investor we mentioned before would achieve this number without ever putting any other investments down, which would only increase her sum once she reached 60. Acorns doesn’t make the investing game any simpler, once you sign up and set a plan you theoretically never have to look at it again. No reason to think hard about investing strategies, Acorns does it for you. One thing to note is that they do pull a $3/month charge for the services they do creating and maintaining the investing account. After only four months of using Acorns, our previously mentioned investor has already made $150, if you use the link below, you can sign up with Acorns in minutes and see if you can catch her gains!

Sign Up for Acorns Investing

*This is not a paid promotion

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