Updated almost 11 years ago on . Most recent reply
Acorns?
I was just browsing the web to see where I'd like to park some additional money that I dont plan to put into REI right away. I came across this article about an App called Acorns and was curious if anyone else had used it before. Basic outline from what I've been able to read is they round up your purchases to the nearest dollar and then whenever that round up number gets to $5 they deposit that into your "investment portfolio" and over time that grows. Their timeline being 20+ years, hence the name Acorns. It appears to be similar to a mutual fund but liquidity in the account seems to be there with no fees for pulling the funds out of your account. I thought it was a pretty novel approach and seems to be targeted to people in my age range 20-30's as a low cost way to get started into long term investments.
So naturally I was curious if anyone has used them or knows someone else that has used it before? Here is their webpage https://www.acorns.com/ no affiliation with this company just looking to see if anyone else is using them or not.