Acorns Review 2022: A Micro-Investing App For You

Investing creates the best path to building wealth. Acorns allows you to start with small increments through passive investments. You can meet your financial goals by turning your savings and spending as levers into your investment and retirement accounts.

The Acorns micro-investing app can help you grow your wealth little by little. Micro-investing allows users to save and invest in small amounts, and through rounding up your purchases to the next dollar, you can fund your investments

What Is Acorns? You can easily open an account on its website or through its app and link your debit and credit cards. Acorns targets new and young investors, families, or those who want to participate in investing without having to commit a great deal of money. Acorns doesn’t require a minimum balance and provides a simple solution to save a

Acorns doesn’t require a minimum balance and provides a simple solution to save and invest. Users aren’t trading but rather building smart diversified portfolios. Having a set-it-and-forget-it mentality rewards long-term diversified investors who can better handle interim market volatility, beating those who panic flee downturns.

Acorns Has Two Monthly Plans Acorns uses flat monthly fees rather than the investment fees used by other Robo-advisors. At one time, college students were able to set up free accounts until age 24, but its website says there are no student discounts.

Acorns Round-Ups The most notable feature that distinguishes Acorns is its Round-Ups. Users will link all their credit and debit cards, including the Acorns Visa Debit Card, so automatic Round-Ups will round up your spare change from everyday purchases like gas and groceries.

Acorns Round-Up Multiplier Over time, users can grow their investments. Spare change can add up as contributions to your investments, but if you want to accelerate your contributions you can change your settings to enable the Round-Up Multiplier to increase 2x, 3x, or 10X.

Recurring Investments Besides Round-Ups, you can set recurring investments on a periodic basis to add to your investments, such as adding $5 per day, week, or month to bolster your investment account. The company uses dollar-cost averaging for incremental investment added to your portfolio.

Acorn Invest Investing is central to the Acorns program. When users first sign up for a taxable investment account, they provide background information and their money goals.

Vanguard S&P 500 ETF (VOO) This ETF represents 500 of the largest US companies, mirroring the S&P 500 index commonly referred to as the market proxy. This proxy tends to grow an average of 10% return over the long term and tends to rise and fall more sharply than bonds.

Conservative Portfolio Conservative Portfolio is for someone with low-risk tolerance and potentially a shorter time frame to retirement. Acorns’ website reflects a sample conservative portfolio as follows: – UltraShort Term Government Bonds (BIL) 20% – UltraShort Term Corporate Bonds (JPST) 20% – UltraShort Term Corporate Bonds (ICSH) 20% – Short Term Government Bonds (GBIL) 20% – Short Term Government Bonds (SHV) 20%

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