What does Veeky Forums think about Acorns?

What does Veeky Forums think about Acorns?

My buddy uses and recommends it, I'll download it today and get back to you OP. This thread sparked my interest.
What is your thought on it?

Why not just use robinhood and invest your spare change into meme stocks? Assuming you're in the states

I never used it, I am thinking about it.

I use it. If you arnt broke as shit and can handle maybe 10-20 bucks a week. Go for it. Forget about it.

Well it looks like you get better diversification with less money this way. If you really want to hands on manage your investments, you'll want a more powerful platform than robinhood.

>If you really want to hands on manage your investments, you'll want a more powerful platform than robinhood.
yea but we are talking about investing pennies here

You could invest more with acorn. My shitty BoA has a similar approach with rounding up and adding it to the savings account, but the yield is so poor. I'd rather risk it with the market than the bank.

Is there something similar for germany or international? Why are all these nice investing apps only available in the states that prooves prooves again to be ahead of everyone in capitalism? Would there be a market for international more of the books bitcoin/cryptocoin sort of acorn? Will it be super illegal?

Would it be tiresome if I made a joke about Islamic monetary policy here?

I see your point.

Seems like the $1 monthly fee would eat your margins. Even 100 transactions a month @ .25 spare each is $25. $1 is 4% of $25. 4% fees monthly is crazy

Yeah but $25 is chump change m8. Also it says it's free for students which is good for me.

How is giving away your money a good deal? Whether it's $25 or 25k doesnt matter

You're not giving away your money, you're paying for a service.

And what does the service do? Transfer money from one account to another? I just did the math are you saying these funds are gonna pull >4% a month?

It invests it into the stock market. Its not just transferring money.

Anyway I read that betterment maybe the better option. Will try that out, too.

Who cares what they do if you don't make money?

Most funds return 8% yearly TOPS. And we're talking about losing 4% MONTHLY to fees. I'm not sure how many more times I can spell it out for you. It's a bad deal. If you want to invest in funds with little capital, start a Robinhood account and buy ETFs

>And we're talking about losing 4% MONTHLY to fees
No we're not you monglord, in your "case study" you said that $1 was 4% of $25 which is true. But $1 isn't 4% of $1000 or $10000 or $100000 now is it? Think a bit before shitting up this space even more.

If anyone wants to try here is my invite link
we both get 5 bucks.

acorns.com/invite/7Y9KE2

God bless burgerland.

Downloading now.

Ausfag here
Got about 7.5k in it. up ~2.4% this month

Literally just put Student as your job...

im still waiting for robinhood for Australia, but we also have acorns here.

I dont have alot of money, even if I put in $1k, i don think getting $5 out of it would be worth my time?

So this is just a fund manager app for small quantities of money?

I just created an acorn account completely out of fake info, and got 5 dollars from a referral.
Can anyone see this being abused?

>Can anyone see this being abused?

Good luck getting that put into your account

We were discussing the spare change aspect, assclown. In what world fo you have 10k spare change in a month

What's the alternative? Keeping it in the bank allowing them to profit it off and leaving you with the same amount you loaned them?

enjoying having the SEC slam down your door for falsifying information.

you're still off because spare change could add up higher depending on how often you use your card and if you don't like, just take your money out, close the account and all that experiment would've cost is about 3$ if you stayed for 3 months. I've literally lost more money sitting in my car.

>paying a robo app to scrape your change
>not already having a fixed investment schedule
>not always looking for dips to invest more

I think it's shit but then again I don't like paying for pointless services.

Also, remember that nothing is free, """"""Students"""""".

$1/month is only $12 a year, which is less than one meal out.

Does anyone do this? What percent returns after fees are you seeing? What principal do you have invested? I actually have about 3k to kick around, or more if I can withdraw it quickly. Since the standard bank issued investment options are showing me, at best, 2%, and on average .5%, would this be better for a short term use?

>giving away $3 because it's "just $3"
wtf am i reading. Do the fucking math you lazy fucks like the other user did . If you spend more than 100 transactions/month on a debit card you're failing at life

I've been using it almost a full year.
It takes a few bucks depending on how you spend.
They take your money and put it in a vangaurd account. and charge you for the "service". No thinking required.
Beta- weighted performance has been shit. Barely better than a savings account.
My bets on ThinkOrSwim are finally crawling out of the red.

This accounts for about 10-15$ a month for me.
I'm just going to switch over to an automatic monthly investment in Vangaurd of $25 for now. and $100 in my TOS.

Wow you're dumb. We're talking about a fixed $1 a fucking month. Not a $1 fee every time you deposit. Why are people so fucking dumb?

What's the minimum and optimal amount you'd need invested to actually see your account grow. Eg, leaving $50 in seems like the monthly fee would eat it faster than it can compound. Also does it compound monthly?

Work on your reading skills before calling others dumb.
>why are people who cant read so fucking dumb?

I've had an acorn account for 24 hours now

> deposited 20$
> got 2 ppl to sign up, 10$ in referral
> account value: 30.11$

I've made 11 cents in 24 hours user, I'm gonna be a fucking trillionaire with this thing in no time.

I called up their customer service and they said it's free for all people under 24

THIS SOUNDS LIKE A SCAM

Any alternatives for eurofags?

> live in EU
> need cash
> cry to fucking Germany
> ???
> profit!!

Qapital is better