Is Acorn Actually A Good App Reddit

Is acorns worth it

I don't mind the 1 dollar fee and eventually opening Roth IRA so I have 8k to invest and 700 monthly contributions (175 weekly) I don't need the round up feature or found money still worth it for just not having to deal with it and forget about it ?

level 1

The Rounds Ups make a huge difference. I have almost 7k invested just from that. It's money you would otherwise probably not budget to invest and would usually waste.

level 1

It's always worth it. Get the IRA and open an acorns account. You'll thank yourself later.

level 2

Do you think I should always max out Roth IRA first then do taxable even though planning on retiring before 65 or 67 that would only be 200 a month into taxable

level 1

If you want a hands off investment tool. It does the job. It has given me a steady growth of money I would not have normally saved. I do round ups and $5 a day on agressive and it's been 2% growth month.

Acorns isn't a pump and dump it's for people who want to do long growth

level 1

If you don't need those features, then why acorns? They're what makes it unique and worth it IMO

level 2

Half the reason is the simplicity. If I want to invest an extra $1k, my Vanguard account is 600 more clicks and a headache more than Acorns.

level 1

Yes! I have saved up 17k in a few years and I would have otherwise just spent it...

level 2

I've also acquired approx $600 in found money.. which is free

level 1

I don't even look at my acorns as investing just to save money, the fact that I can make money on interest like a very very high yield savings is even better!

level 1

If you just want a Roth IRA and none of the features that make Acorns unique (and is what is costing you money), open it somewhere that's free. You can get a self-directed Roth IRA at Fidelity, Vanguard, Schwab, M1 Finance, and a bunch of others for $0.

level 1

I like that something like does additional money when I put gas at a certain gas station or shop at Walmart. It's simple and neat.

level 1

It's always better than having nothing. Depending on how much I'm an influence you want to personally have over your Investments, that could determine if you want Acorns or Robinhood or something else. Acorns is good for the set it and forget it kind of mentality. Speaking from personal experience, I love it. I don't need to do research of which stocks or bonds or etf to invest in. I give them my money, and they make me more

level 1

I only use it for round ups, just for fun.

level 1

I was very happy with Acorns until I had to deal with customer service. I no longer use acorns.

level 1

That sounds stupid haha who do you have as a brokerage now ?

level 1

Just open an IRA with your employer. If they match, it's way better. Acorns is for people who can't effectively save on their own. I like the idea of change on a coffee rounded up but you could just forget the coffee and put 10$ in if you can budget. Acorns is basically just a retirement savings account that charges you fees every month.