Beginning of my Acorns journey! Is it worth it? Stay tuned!

ericksantos (39)in #investing • 6 years ago (edited)

So I recently started investing with Acorns.. & I will be tracking my entire journey here on STEEMIT!

So for you that don’t know what Acorns is I’ll give you a quick run down!

Acorns is pretty much an application for your phone that lets you invest in stocks, bonds, etc. It also connects to a debit or credit card to "round up" the spare change to the next dollar on all purchases. Once the roundups reach $5, it withdraws the money and invests it into a personalized stock portfolio.

Nobel Prize winner Dr. Harry Markowitz helped Acorns devise its system to personalize a portfolio composed of index funds like real estate stocks and corporate bonds. Users answer basic questions about investment goals and risk preferences, which determine where their change goes.

Acorns not only eliminates the guesswork in picking funds but it also doesn't charge a commission. And users can cancel their account at any time. It does, however, take a $1 per month fee on accounts under $5,000 -- and .25% per year on accounts over that amount.

“Found money” is another great option they have to help grow your portfolio. You can shop for your daily, weekly, or monthly needs & they reinvest a percentage right back into your portfolio. It includes stores like Walmart & Amazon that carry almost everything!

You also receive dividends on your investments that are automatically reinvested right back into your portfolio.

Now..

I made an initial investment into my portfolio of $75. It wasn’t much but I just wanted to get it up & running as soon as I could. They have 5 different portfolio options. Conservative, Moderately conservative, Moderate, Moderatley aggressive, & Aggressive. After answering a few questions & as I’m a student they suggested I use a moderatley conservative portfolio. I did a little digging & actually went for a more aggressive approach so I switched it to the Aggressive portfolio.

This is just the beginning! I will be investing a lot more & tracking my portfolio here on steemit. So keep an eye out & join me on my journey with Acorns!