1/18/2024 0 Comments Acorn app review![]() (Of course, a few of my skeptical alarm bells are going off in my head at this point, but more on that in a minute.) What is Acorns?įirst, I should back up and describe what Acorns is. Amazingly, now his account is worth over $20,000! Walter, whose name I learned later, then told me that he had signed up just a few years ago, and had put in only $500 of seed money at the beginning. I told him I had heard of it, but that it wasn’t something I had personally used. Then he asked what I thought of the Acorns app. Of course, that’s always a fun conversation to me, so we enjoyed batting around various investment strategies while the game went on in the background. The guy sitting next to me asked me what I did for a living, and we inevitably got to talking about money and investing. I was there alone on this occasion, so I got to chatting with the people around me about the game and a few other things. The other day I walked down to the sports bar down to watch a game and grab a beer. My Re-Introduction to the Acorns Investing App For that reason, it’s best used for more intermediate-term goals, such as saving for a new car or house downpayment. Overall, the Acorns investing app has a lot of good features, but it’s not a replacement for your main retirement savings plan, simply because Acorns doesn’t offer tax-deferred retirement accounts at all. Acorns is an innovative way to accomplish both goals together, as it automates both the saving and investing processes together in one platform. I’ve written before about why I believe automating your investments is vital to long-term investment success, and also why “paying yourself first” is an easy way to make sure you save for long-term goals such as retirement. The Acorns investing app is a unique combination of automated savings and automated investing.
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