Acorns Invest App Review

Acorns Invest App Review – Invest Your Change

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Want to learn to invest?

What if I told you there was a way you could without learning all of the complicated stocks? This Acorns Invest app review is all you need to get started investing money for your future.

Let’s talk about one of my favorite investing apps and share with you the pros and cons of the app as well as how to get started. Welcome the Acorns Invest app review. I would like to thank my girlfriend for this post. After back and forth for an entire day explaining it to her, I figured I need to write an Acorns Invest app review to save time for anyone else with questions.

Acorns is one of the most simple trading apps on the market. The way that Acorns works is every time you make a purchase, Acorns will round that purchase amount up to the nearest dollar and invest the change. For instance, if you spend $5.75 at Starbucks, Acorn will round up the total to $6.00 and invest .25 cents for you into your account, a highly diversified portfolio of ETFs . This is a passive and seamless process that will put your savings ahead and place you in the position to make your money work for you.

ETFs = Exchange-Traded Funds





You are also able to create recurring deposits into your account from your bank account or card. This feature is nice when you have extra that you would like to you to experiment with Acorns or just to save. As of yet, Acorns has no debit cards and the money takes a few business days to transfer back to your bank so it’s safe to say you won’t be spending it.

Another feature that we felt was perfect for our Acorns Invest app review was recently introduced as well. Acorns have also recently released a new feature which allows companies to invest in your account for shopping with them, called “Found Money.” With this, you can purchase from most of your favorite brands and they will invest a percentage of your purchase back into your Acorns account.

Acorns Invest App Review

Still deciding?

Our Acorns Invest app review also includes a dedicated portion below if you would like to see all of our found pros and cons in one snapshot.

Pros:

The app is very easy to use and user friendly with simplified layouts and large display of all the important information. The app also leads you in with a simple profile completion process helping you get started investing.

With the great round-up feature, saving becomes passive and stress free. This features collects all of the spare change until it reaches $5 total before it deposits it into your Acorns account. This feature is great because its automatic and you are literally saving without thinking. Acorns also recently released a multiplier feature for those who would like that spare change to be multiplied to increase on your savings.

Acorn charge $1 a month as long as your account stays under $5,000. That’s a great deal! That means you will pay $12 annually in trade commission fees. I don’t about you but my bank savings account fees hit me for about 5 times as much due to transfer fees. I’d rather use Acorns for lower fees, and tougher to spend my money.

  • Round-Up Change
  • Low Monthly Rate of $1 for Accounts Under $5,000
  • Simplified System
  • Friendly User Interface

 

Cons:

As much as I love this app, it isn’t for everyone. Acorns is not for people looking to invest large amounts or get into purchasing individual stocks. Acorns lack of portfolio customization prevents you from truly making your investment to your own desire because it only gives you the option to invest in an increment of 5 levels between conservative and aggressive.

It also may be undesirable for people investing more than $5,000 because of the .25% fee. That means if I was to keep my account around $5,000 I would be paying about $150 annually in commission fees.

  • Lack of Portfolio Customization
  • Higher Commissions of .25% for accounts over $5,000.

Final Thoughts

This app has a few setbacks but is definitely a must have app for people looking to invest or save. This app makes it so much easier for new and younger investors to get started. They also will learn how to make their money work for them in the market and learning without high end fees and full stock prices.

Again, I highly recommend this app to everyone looking to save and invest. This app is perfect for teens, students, or anyone who want to invest in small amounts at a time. I’ve asked Acorns for a little help getting you guys started with $5 invested in your account for you to try it for yourself. Go ahead and try Acorns now from our exclusive link to get $5 into your account for free. I hope you enjoyed our Acorns Invest app review. We would love to hear your experience with investing with automated apps.

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Jonathan Tyler

Entrepreneur | Thinker | Cool Shit Doer at Think Cents
A natural thinker of life, business, and art, Jonathan was born gritty at heart. That grit burns through his blog Think Cents as a desire to fight for financial independence. Seeing how little success traditional work life brings, he's seeking to achieve building his wealth in the more unconventional ways.
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Posted by Jonathan Tyler

A natural thinker of life, business, and art, Jonathan was born gritty at heart. That grit burns through his blog Think Cents as a desire to fight for financial independence. Seeing how little success traditional work life brings, he's seeking to achieve building his wealth in the more unconventional ways.

2 comments

[…] also a post dedicated to my Acorns Invest Review giving you all the pros and […]

Jonathan Tyler

Acorns Investing is really a great app guys. Let me know how you like it and share with other what you think as well.

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