Acorns Review





Nope, it's not those things that fall off of trees. It's an investment app. 
Acorns is a easy-to-use application that allows the investor to link their credit card and bank account to their account. The rounding up of change and setting the app to autopilot make Acorns an easy way for beginners and novices to get started with investing and is useful for investors of most levels. 

How It Works

After downloading the app the next step is account creation and setup. This whole process was very simple to do on your smartphone and the interface of the program was attractive. All information is conveyed and exchanged over email.
You link and verify your bank account, and link your credit cards. When you make a purchase using a linked card the app rounds up your spare change and invested it for you. The app has a minimum investment threshold of $5. What this means is that the user needs to have enough rounds ups set aside from purchase made till they can invest their spare change. 
The app tracks all purchases made and in the round up tab, keeps a running total of what spare change was thrown into the piggy bank fund. Once the $5 threshold was met you can make your first small investment. You're given different investment choices and it's easy to understand the different options laid out to you. It also gives you a risk tolerance and explained what risk tolerance was appropriate for what age group. The transparency is a nice feature and you are able to get more information on all the choices offered for investments by clicking on the more info tab.
The program also offers a recurring investment option. You can choose to do a Daily, Weekly, or Monthly investment option. It gives you the option to enter the amount of money you would like invested at your time preference. 

Conclusion

Acorns is a very simple platform that allows users to toe dip into the world of investing. I think this is a useful instrument for anyone, even for people who are experienced investors like me. The best benefit is for kids. Once the account is setup and put on autopilot, don't look at it. Let them round up your lose change. You won't miss .20 cents or .70 cents here and there.  If you let the gas run for years to come, you'll generate a nice portfolio nest egg for yourself. 
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