Let’s say you buy a cup of coffee that costs around $3.27, and instead of getting $0.73 back why not invest that extra change into exchange-traded funds (ETFs). Sure your $3.00 coffee ended up costing you $4.00, but will you really miss that $0.73 cents? Wouldn’t life be a little more pleasant if all transactions were whole numbers?
Creating A Portfolio Has Never Been Easier
This app is targeted at young adults who are interested in investing but lack large financial means. Acorn understands that a large majority of young folk aren’t knowledgeable about investing so they make the process extremely easy while avoiding any heavy risks. The process is almost entirely automated, and you have the power to choose how risky the broker is with your money. You can choose from the following portfolios: conservative, moderately conservative, moderate and moderately aggressive.
Start Investing Right Now
The app requires a minimum of $5 to start investing. This sum of money doesn’t have to solely come from past transaction, you can input money into the system itself. The app itself charges almost nothing to join. If you have less than 5000 dollars invested, the app only charges you a dollar a month, that makes your annual total only $12. If you’re investing around $100 into the market every month then the cost is worth it. For accounts that have more than $5000, there’s a 0.25% charge per month. This is significantly less than the cost of hiring a broker. One of the great things about Acorn is that if you are a student, or between the ages of 18-23 years old, it’s completely free.
Live Updates Are Only A Click Away
Once you’ve begun investing, Acorns will show you how your account is doing, allowing you to review time periods including one day, one month, six months, and one year. The app can also show you yearly predictions on how much you’ll be gaining if you continue your pattern of investments. In a couple of years, you could potentially be making thousands of dollars. You can cash out whenever you want as there are no contracts. Start investing in your future today! If you invite a friend you can get $5 dollars free.