You have to love game-changing technologies and ideas (ie..Uber, Lyft, AirBnB, Venmo, etc.) that can turn an industry upside down or just make one’s life more simple. One such game changer is the Acorns investing app. This relatively new micro investing platform enables you to begin investing with spare change to create wealth over time. Yes, spare change!
By simply attaching your debit or credit card to the Acorns investing app, any purchase you make on coffee or on Amazon will be rounded up to the next whole dollar. Your “round-up change” will be invested automatically for you into one of five investment portfolios. These portfolios are managed by a few of the top investment management companies in the U.S. And you can make additional automatic recurring investments every week or month as well. Just like I have been teaching for years. How cool is that?
So many millennials want to invest and know they should invest, but are afraid to do so because of the lack of knowledge.
Acorns combines professional, passive money management, ease of use and low cost to provide a dynamic way to save and create wealth over time. In other words, you don’t have to know jack about investing in order to take advantage of the time value of money through the Acorns investing platform.
When I began investing money in high school, college and throughout my twenties I had to have a minimum of $1,000 to invest in a stock mutual fund. Your minimum investment requirement with Acorns is technically one penny if your debit card purchase is $1.99, for example.
If you’re a college student and have a valid .edu email address Acorns is free up to four years after registration. Otherwise, it is $1.00 per month. Once your Acorns investment account reaches $5,000 there is no monthly fee. You just pay an annual management fee of 0.25% which is super competitive.
I’m convinced that Acorns can help create thousands of millionaires over the next few decades who would otherwise not be able to do so on their own. I am all in on Acorns and have been for a while. It’s a game and life changer. Really, it’s that good.
“In other words, you don’t have to know jack about investing in order to take advantage of the time value of money through the Acorns platform.” – Todd Romer
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