Acorns review

I’ve been looking for a long time for a simple investment service that I don’t have to think to much about. We are all busy with life and having to figure out how to mix my investments can get a bit much. So, I decided to try out Acorns, it claims give you a good mix of investments with options such as automatic withdrawals, rounding up transactions and ability to roll it over into a retirement ira account.

When you setup the account you pick how aggresive the option of investment you want to use. As your money is taken out of your checking/savings account into Acorns it robo-invests them into that mix of stocks / bonds /etc… You don’t really see the specific mix because it rebalances your money based on the market changes.

##Experience## I’ve been using it for a couple months and its nice not to see it. Start with as little as 10 a month and slowly increase it. Every now and then I log into the account and I see the progress it makes. Its like found money.

They also have a cashback program where if you get something at one of their partners you get some money back into your account. I haven’t used this feature yet since most of the places I don’t go to. I picked the aggressive growth option and I’m getting a consistent 2.5-3% a month growth on the money I put in.

##Round ups## The round up option I use on and off, I like that you can turn it off if you need to pay something unexpected during the month and turn it back on to get round up investment on the transactions you make from your checking.

So for example: * Paid 5.50 for lunch * .50 is transferred to your Acorns account * You can increase this with the multiplier option (eg. 2x your round up making that 1.00)

You can also have a manual round up option, where you select the transactions you want to round up and transfer over. This helps your account increase pretty quickly.

Ratings

5 out of 5 - Investment Growth
4 out of 5 - Usage and feel
4 out of 5 - Fees
5 out of 5 - Performing the job its set out to do

The past, present, future approach makes the UI very easy to navigate. I like not thinking about what’s going on with the money and seeing the growth overtime. I’d use it for goal spending such as saving for trips, renovations or any other expenses that you use your money overtime for. For IRA, I haven’t used it, but I think there may be better options out there for that.

The initial UI experience takes a minute, but its very to use after that.

Its a great way to save without having to think about it, Give Acorns a try.