Acorns

Hello biz,

I'm an idiot and want to make saving money slightly more interesting. What can you tell me about Acorns? It's some sort of "investment" management thing where you just chuck a bit of money in it every now and then and the people who run it invest the money for you, kind of like superannuation. I'm not entirely sure who the guys are who run it but figured you guys might be able to shed some light on the subject for me.

Thanks and regards,

user

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nice dubs

if you want some crypto then just go to reddit

this place is nothing but cancer

damn that sick ventors gamble

It's not crypto as far as I'm aware, just a place to put extra money.

Nothing like scientific notation to get my price boner going

It's not that Acorns is a scam, it's that the actual mechanism it uses to operate doesn't match up with the concept that is boldly advertised by the company. This online money service actually has no way to “round up” your purchases.

I'm actually not interested in that part of it anyway so that's good. I was just thinking of putting in 50 a week but if I was going to do that would it be better just to do something else with it? I guess I should have said that in the OP.

It's just a cheap way to incrementally purchase ETFs. The allocation of each of the 'strategies' is clearly set out in the T&Cs.

If you want to access those ETFs in those ratios, then acorns is the cheapest way to access it. If not, pointless.

Ignore the 'round up' memes

yeah dude fucking buy bitcoin jesus christ

really

its pretty much USI-Tech tier

50 a week is so poverty that you might as well go for a big win on crypto

see
I guess I've made the right decision there then. Not sure what ETFs is though.

But I don't have a big fund for buying and that makes me think it's not going to be worth while doing. I mean it's not like it's going to keep growing forever, right?

What does that mean?

Yeah fair enough.

Looked it up, yeah I get it now. Convenience for the complete casual "investor" is their goal and I guess they've nailed it.

investopedia.com/terms/e/etf.asp

An ETF is nothing to do with convenience and anyone who tells you otherwise is an idiot. It's a fund that represents an index at all times. Unless you think you're smarter than Warren Buffet, or you have inside info, the index is going to outperform the stockpicker over the long term

Acorns is the cheapest way to incrementally purchase thes

yes bitcoin is anthropologically transcendent fuck sakes dude im wasting my wisdom here

this too, same reason you should never use a broker for long terms

I think it's a lost cause desu

I meant that Acorns is like a convenient way for people who don't know anything about investing to pretend they're involved in investing some how. I dunno, see my OP, "I'm an idiot"

I should probably just stick to climbing the ladder at my wageslavery job and hope for the best.

I can see that

If you actually need that $50/wk in the medium/long term, use acorns. If you want a chance of making that into actual wealth, buy bitcoins. If you really really need that money, put it in muh savings account until you find something appealing

I don't need the money and that's why I'm looking to do something interesting and profitable with it so thanks for the advice.