Invest Your Spare Change With Acorns? Huh?
I’ve always wanted to invest and make my money work for me, but most investment firms require a large amount of money upfront to open account. When I heard about Acorns and its ability to invest my spare change from everyday purchases, I was immediately intrigued.
What Is Acorns?
According to their website, Acorns invests spare change automatically from everyday purchases into a diversified portfolio. You can set up recurring investments in daily, weekly or monthly amounts to set aside more, or invest lump sums when you’d like.
Acorns helps you proactively invest. We round up each of your transactions to the nearest dollar, and invest the change into a diversified portfolio. Simply connect a credit card, or debit card and a checking account, and tell us about yourself. We‘ll automatically recommend a stock portfolio based on information like your age, time horizon, investment goals and the amount of risk you’re comfortable taking.
Acorns constructs and optimizes 5 diversified portfolios with help from the Nobel Prize winning economist and father of Modern Portfolio Theory, Dr. Harry Markowitz.
We are committed to building the best possible product and we know that starts with a world class team of engineers, designers, mathematicians, financial experts, and marketers.
OK, So What Are the Fees?
Acorns’ fees are refreshingly simple: $1/month for accounts under $5k, or 0.25%/year for accounts over $5k. Students and anyone under 24 can invest for free. You can withdraw from your account at any time with no fees or penalties, and you can open an account with as little as $5.
In addition to their website, Acorns also has apps available for iPhone and Android that allow to you invest in real time. They’re well-designed, visually attractive and easy to use.
How Do I Sign Up?
Sign up with this link and get $5 free when you open an account. Happy Saving!