That means a Round-Up of $0.25 would actually add $0.50 to your Invest account with a 2x multiplier, for example.Īcorns is partnered with 26 companies, including Airbnb, Google, Apple, and PayPal. Also, you can tell Acorns how much you'd like to invest when your transactions equal exactly one dollar.įinally, you can supercharge your Round-Ups by adding a multiplier of 2x, 3x, or 10x. You can set Round-Ups to work with every transaction or you can manually select the transactions that you'd like to round up. Acorns says that the typical person invests over $30 per month with Round-Ups alone.
Once you've reached a $5 threshold in your Acorns account, it will be automatically invested in your Invest account portfolio. Once your card or account has been linked, Acorns will monitor all the purchases that you make and round up each transaction to the nearest dollar.įor example, if you bought a cup of coffee for $2.25, Acorns would set aside $0.75. You're mainly investing in funds that invest in cryptocurrencies.Īfter you've created your Acorns account, you'll have the opportunity to link your bank account, debit card, or credit card. However, you won't get direct exposure to cryptocurrencies.
The platform will allocate up to 5% of your portfolio to the fund, but the exact amount it allocates varies based on your age, personal finances, and investing goals. Plus, you can gain some exposure to crypto, thanks to Acorns' bitcoin ETFs. Both offer automated ETF portfolios, IRAs through Acorns Later, and multiple banking and checking perks. Acorns Family, on the other hand, costs $5 per month. Acorns Personal is its core service and costs $3 per month. Ways to Invest with Acorns Acorns InvestĪcorns offers two plans: Acorns Personal and Acorns Family. Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down. You could also check out our picks for the best cryptocurrency exchanges or the best real estate investing apps. So if you're interested in a broader range of investments, our picks for the best online brokerages may have what you're looking for. However, Acorns' investment selection is limited to ETFs, and it doesn't offer tax-loss harvesting. This is because Acorns charges flat monthly fees, whereas you'll pay more for higher balances with an investment platform that charges percentage-based fees. The platform is a competitive choice compared to other automated investing platforms - including some of the best robo-advisors like Betterment Investing and Wealthfront Investing (both of which charge asset-based fees). But investors can't directly invest in bitcoin or other cryptocurrencies with Acorns. Investors can opt in so that 5% of their investment goes toward a bitcoin-linked ETF. The funds represent a mix of companies, markets, real estate assets, and bonds.Īcorns now allows users to invest in bits of bitcoin. Acorns uses these same six funds for every investor but adjusts the asset allocation depending on your goals and risk tolerance.
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Acorns uses a series of questions to determine how to allocate your assets, then assigns your funds to a specific portfolio of ETFs. You don't have to choose your own investments, either.
With Acorns, you don't have to think about setting money aside every month to invest - the app can handle all of that for you through round-ups, "found money," and recurring investments.Īcorns offers a range of account types, including individual taxable accounts, retirement saving accounts (traditional IRAs, Roth IRAs, and SEP IRAs), custodial accounts, and socially conscious (ESG) portfolio account options. Acorns is best for investors who want a hands-off investing experience, from start to finish.
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