You Would Be Nuts Not to Use Acorns
PSST… Hey. Come over here.
(Looks around nervously)
You wanna make $5 bucks?🤑
Yeah, sure you do.
Let me tell you about this little app you might be interested in…
It’s called “Acorns”, see? What you do is you connect it to your bank accounts, see?
No, don’t worry ’bout it. Yeah, it’s safe. Their app and website used 256-bit SSL encryption. 🔑
Not good enough? Ok, your Acorns Core and Later accounts are protected up to $500,000 AND your Acorns Spend account is insured up to at least $250,000 💵
Alright, enough of that. Lemme tel you how this thing works. During the account setup process, the app will ask you a bunch of questions to help figure out which investment strategy is right for you. Yeah, the app figures it out. You don’t have to talk to anybody.
- These strategies include
- Conservative
- Moderately Conservative
- Moderate
- Moderately Aggressive
- Aggressive
How does it work? Geez, I thought you would never ask.
Lemme explain real simple like. See, everytime you buy something, the total of that purchase usually ends up with some weird ass number like $2.37, or $4.85, or $8.76.
Well Acorns comes along and notices that and it’s like, “hey, you wanna round-up?” Basically that means it will take that $2.37 and round-up to $3.00. When you total the round-ups above you end up with $1.02 in investment funds.
No, of course you’re not going to retire off $1.02 🙄
The power here comes from donig round-ups over and over until it becomes a habit.
Too much discipline? That’s ok. You can setup recurring investments so you don’t ever have to think about it. 😎
Don’t worry. Yes they have fees. Just remember to compare the fees to what you will be saving/investing along with a comparison with what your current savings and investment strategy is. If you haven’t got one then this one ain’t bad. Below is a recap of the current Acorns pricing structure. You should probably check out that link if you need more information.
| $1 per month | $2 per month | $3 per month |
|---|---|---|
| Acorns Core* | Acorns Core + Acorns Later | Acorns Core + Acorns Later + Acorns Spend |
*free for college students |
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👉Now, about that $5… once you have your account setup, you need to go over to your account profile and select Invite your friends.👈 That’s my link here. Now, you don’t have to, but if you thought any of this information was useful, or even mildy entertaining, you could always use that link and I could make a quick $5 bucks to! 😁
Disclaimer: I’m no financial advisor so I won’t offer you financial investment advice. Any links in this article may result in a commission.
Photo by Matthew Henry from Burst