Acorns Invest Review | Pros and Cons of Acorns in 2021

Acorns Invest Review:
FREE $5 FROM ACORNS: https://www.acorns.com/invite/5SSSLM

▽MY FINANCIAL TOOLS▽

➤ SoFi Complete Money Management
1) 💸 SoFi - Banking App - Get $50 When You Open a SoFi Invest Account
https://www.sofi.com/share/invest/2938577

Get $50 When You Open a SoFi Money Account
https://www.sofi.com/invite/money?gcp=5fca095f-872b-43e0-aa8f-bbfc63716837

----------

➤ Wealthfront Automated Investing
2) 📊 Get Your First $5,000 of Investments Managed for FREE
https://www.wealthfront.com/c/affiliates/invited/AFFD-QB0P-ONHX-7R0L

----------

➤ Yotta Savings
3) 💵 Yotta - Use code MAGNIFIED to Get 100 FREE Tickets
https://withyotta.page.link/j769cHLe1ArthPiB8

----------

➤ Chime Bank
4) 💰 Chime - Banking App - Get $50 When You Open an Account:
https://www.chime.com/r/brendanpaules/

----------

➤ WEBULL
5) 📲 Webull - Investing App - Earn 2 Free Stocks (valued at up to $1400) when you deposit $100.
https://www.webull.com/activity?inviteCode=undefined&source=invite_gw&inviteSource=wb_oversea

----------

➤ ROBINHOOD
6) 📈 Robinhood - Investing App - Earn 1 Free Stock when you open an account.
https://join.robinhood.com/brendap549

----------

➤ MY CAMERA GEAR
7) 📸🎤💡Camera, Microphone, and Lighting Kit
My Camera: https://amzn.to/3e6VSdg
My Microphone: https://amzn.to/2HHT5eN
My Lights: https://amzn.to/31PJp8V

When Acorns hit the market in 2012 it was one of those platforms like Robinhood that really shook up the investing industry but what put Acorns on the map was actually their roundup investing feature which we are going to talk about in length today and break down exactly what this means and how to set it up. But in a nutshell, this allows you to automatically invest your spare change without even thinking about it and that really is where Acorns got their start but before we talk about that in-depth let's talk about the three different account options that acorns offer. And yes spoiler alert, Acorns is not free to use platform but don't worry because you are going to get a lot of value for a low price.

So essentially you've got the $1 per month basic package that is going to allow you to automatically start investing, the $3 option that will also give you a retirement account and checking services for $3/month, and then the family package if that is something you're interested in for $5 per month. Now $1 may not sound like a whole lot of money and you would be right however if you're only going to be investing a few $100 or even $1000, Acorns is not really worth it just because comparatively...the management fee would be way too high as a percentage of your investment. So if you're going to use the acorns platform, then I personally would recommend that you're investing at least $4000 since paying $12.00 per year on a $4000 investment would mean a management fee of 0.4% which is definitely much more realistic.

Now the round-up feature is great so if you go to Panera, for example, and you spend $19.55 then by paying with a card that is linked to your acorns accounts, Acorns is automatically going to round up that purchase to $20 and invest that extra $0.45 for you. Now within the app, you can customize exactly how much you would like it to round up and even set multipliers of 2 3, or 10 times the amount rounded up so if Acorns rounds up and invests $0.10 and you have the 3X multiplier turned on then they will actually invest $0.3 but remember this isn't just free money that they're given to you this is pulling money from the card that you used to pay and investing it automatically without you having to think about it. Now the other big question is where is this money being invested because with the acorns platform you're not able to go in and buy your own individual stocks or ETF's like you can with other investing platforms but that's not what acorns is designed for. Again, it is made for individuals who are looking for a fully automated approach to their investing and because of that, Acorns is going to give you your choice of five different portfolios with varying levels of risk that go all the way from aggressive down to conservative.

So if you're looking for a fully automated way that you can get started with investing without even having to think about it then I would definitely check out the Acorns platform since it is a great place to get started. And if this is a platform that you want to get a shot then there is a link at the top of the description that will give you $5 for free just for opening up an account so if you're planning on giving it a shot then definitely check that out.

Music from Storyblocks Audio

I am not a Certified Financial Planner®. The topics presented in this video are for entertainment purposes only. You, and you alone, are responsible for the financial decisions that you make.

Видео Acorns Invest Review | Pros and Cons of Acorns in 2021 канала Magnified Money