Lets discuss and review Acorns Investment App, go over all of its features, and whether or not it’s actually a good value - Enjoy! Add me on Instagram: GPStephan
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What is Acorns?
The basic premise is that they’re an app that helps automate your investing. And their most notable feature, in my opinion, would be their “round up” feature - this lets you invest the spare change from what you spend, and you can just “round up” every single purchase to the nearest dollar to invest the difference.
They also give you the option to setup recurring investments on a daily, weekly, or monthly basis… again, the entire purpose of this app is just to help automate regular and consistent investing. They’ll also let you see, real time, what your investments COULD be worth depending on your contributions…so it’s really meant to get you thinking about the long term.
Now in terms of WHAT they invest in, they say “Your investments are then diversified across more than 7,000 stocks and bonds and automatically rebalanced when the market fluctuates.” So basically, they’re investing in broad funds that track the market, very similar to the vanguard index funds I always talk about on the channel.
And when it comes to this, Acorns is what’s called a Robo-Advisor - this has definitely gained some popularity lately with other companies like Wealthfront, Bettermint, and M1 Finance to name a few.
If we go to their pricing tier, we can see that their basic service begins at $1 per month:
With that, you get the Automated investing where they round up the charge and invest the difference
Then, for $2 per month, you get access to all of that, plus Acorns Later - which is their IRA.
And finally…for $3 per month, you’ll get access to their checking account with debit card.
So overall, looking through everything on Acorns and spending way too much time on this…here are my thoughts and what I REALLY think of it:
Acorns simplifies investing and making it incredibly easy, to the point where you don’t need to think about it. The concept of rounding up is clever, it’s gimmicky, and I can see how it works. If Americans aren’t going to think about investment, they can just invest on Autopilot without making any difference whatsoever except for setting up an Acorns account. So from that perspective, I really like it.
HOWEVER…what I consider a negative for Acorns, is that if you just want to straight up invest a small amount of money into an index fund…and what to do it for TOTALLY FREE, you can do that with Fidelity.
If you’re investing with more money, Acorns slowly becomes more and more worth it as the $1 fee becomes a smaller percentage of the total amount you have invested.
BUT…I’ll admit, using Acorns is WAY better than doing nothing. For people who just can’t seem to save and invest any money, or don’t really take an interest to investing…this is BY FAR better than the alternative of just not investing.
Just my opinion, not financial advice.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
Sign up for Acorns and get $5: https://share.acorns.com/graham_stephan
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
Get 2 Free Stocks on WeBull when you deposit $100 (Valued up to $1000): https://act.webull.com/k/Vowbik9Tm5he/main
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
What is Acorns?
The basic premise is that they’re an app that helps automate your investing. And their most notable feature, in my opinion, would be their “round up” feature - this lets you invest the spare change from what you spend, and you can just “round up” every single purchase to the nearest dollar to invest the difference.
They also give you the option to setup recurring investments on a daily, weekly, or monthly basis… again, the entire purpose of this app is just to help automate regular and consistent investing. They’ll also let you see, real time, what your investments COULD be worth depending on your contributions…so it’s really meant to get you thinking about the long term.
Now in terms of WHAT they invest in, they say “Your investments are then diversified across more than 7,000 stocks and bonds and automatically rebalanced when the market fluctuates.” So basically, they’re investing in broad funds that track the market, very similar to the vanguard index funds I always talk about on the channel.
And when it comes to this, Acorns is what’s called a Robo-Advisor - this has definitely gained some popularity lately with other companies like Wealthfront, Bettermint, and M1 Finance to name a few.
If we go to their pricing tier, we can see that their basic service begins at $1 per month:
With that, you get the Automated investing where they round up the charge and invest the difference
Then, for $2 per month, you get access to all of that, plus Acorns Later - which is their IRA.
And finally…for $3 per month, you’ll get access to their checking account with debit card.
So overall, looking through everything on Acorns and spending way too much time on this…here are my thoughts and what I REALLY think of it:
Acorns simplifies investing and making it incredibly easy, to the point where you don’t need to think about it. The concept of rounding up is clever, it’s gimmicky, and I can see how it works. If Americans aren’t going to think about investment, they can just invest on Autopilot without making any difference whatsoever except for setting up an Acorns account. So from that perspective, I really like it.
HOWEVER…what I consider a negative for Acorns, is that if you just want to straight up invest a small amount of money into an index fund…and what to do it for TOTALLY FREE, you can do that with Fidelity.
If you’re investing with more money, Acorns slowly becomes more and more worth it as the $1 fee becomes a smaller percentage of the total amount you have invested.
BUT…I’ll admit, using Acorns is WAY better than doing nothing. For people who just can’t seem to save and invest any money, or don’t really take an interest to investing…this is BY FAR better than the alternative of just not investing.
Just my opinion, not financial advice.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
With all the iced coffee Graham drinks, maybe he should be investing in dental care. Haha just kidding. Lookin good.
Anybody here in 2023!??
Great info. Thank you.
Good knowledge but that voice… good god! Get some bass and slow down
Is it just as good now, than back in 2019?
tap tap tap
I have some few amount saved for my children in fidelity but haven’t invested it yet ,would you recommend I invest it or just let it sit there ? I’m actually a beginner when it comes to investing and all . Please help . Thanks .
I love Acorn it is so easy to set up thank you for sharing 🙏🏽
Honestly acorn save me alot of times. I dont really notice it save money and also it invest. I started when i had my first job and when the pandemic hits i remember i have save up on acorn. I so happy with the app. ACORN help me more than my relatives. 😂
Open the account with at least 3000
it's 9$/month now crazy
So acorn is a good thing cause idk what app or where to go instead of acorns
Update: in 2023 fee tiers are at $3, $5, & $9. [Not sure how that stacks up to the old $1,2,3.]
Acorns is only for citizen or any persone with residence can use this app?
My mother always said; it's better to have it and not need it, then to need it and not have it!!! Acorns is designed to help those class of people that retire solely dependent on social security…which is another form of hell on earth!!! So keep it REAL, you earn a referral commission from acorn's
Great video, my experience has been OK with Acorns. It's better than nothing, but I recently took full control of my investing journey. 😍
When u were explaining ur fav word free and not fee just take out the letter I started laughing so fuckin hard
What about the individual investing through acorns. Premium is 12 per month
Hey, i have an acorn app, and i have robinhood as well, i would love your perspective, opps i forgot you just gave acorn an ok, do you think i should do vanguard too.
Would be great if index funds where an option in acorns. One of the subscriptions says that you can chat with someone for help or advice and you actually can't, it's just a few articles. Don't use acorns it will not explain anything relevant to how taxes work with the app.
genuinely thought he was gonna say his most hated word was capitalism
I have used acorn for few years
It’s nice for “savings” account but it won’t take you into retirement unless you are way more aggressive.
Which are your top robo adviser of choice?
It costs money in the end for any company to exist and function. $1-$3 a month is chump change for what they do for you. Imo it’s worth it
I already have a 401k and maxing that out every year. Should i be putting money into a roth ira as a seconday account or straight up invest? or do both roth IRA and invest. If both which one should I be putting more money in if I were to be putting 50 dollars a week. Or split it evenly i wouldent be touching these accounts for another 28 years at least
So you are better off saving 100 dollars a week on the side
Thanks bro. And subbed to TGSS👍
The white car behind him is so distracting. The vibes are "trust me bro, I have fancy car."
But, the information is very helpful thanks
Wait so investing in a S&P index fund is considered Aggressive? 🤔
Before video starts. I am guessing it has nothing to do with Oak Trees! 🤦
Is there an equivalent for UK?