What is Acorns?
What is Acorns?
Acorns is an investment service that allows users to save "spare change" into a virtual portfolio within the platform, where they can invest small or large amounts of money into big and recognized companies such as Nike, eBay, Jet, among others.
How do I join Acorns?
To get started with Acorns, you will first have to create an account; feel free to use my referral link https://acorns.com/invite/M79ZXB and you will get $5 to start investing if you'd like to. This company also promises to plant an Oak Tree for every new user that joins, so not only you get free money just for signing up, you also help the planet as well. The next step is to download the mobile app (optional). This will allow you to carry your virtual wallet with you at all times in case you need to withdraw money at any moment, feeless*.
Is it legit?
As legit as it can be my friends.
Acorns is backed by world-class investors and advisors including two Nobel prize winning economists. Acorns has famous investors like Adam Nash, Ashton Kutcher, and even NBA player Kevin Durant invested in Acorns.
Acorns also has been featured and recognized in many popular TV shows and websites such as:
How secure is it?
Fees
This is the part of any business that people hate the most. Fortunately for you, Acorns only takes a $1 Monthly Fee for its services. That is, $12 a year, or around 0.001% of what the average user's annual revenue. But for the most part, you will not even feel that you paid that $1, if you know how to invest, because your dividends should be more than $1 at the end of each month. See a screenshot of my account for the month of December as a reference:
As you can see, I earned $1.53 of shares, minus the $1 monthly fee, I still made a positive revenue. At the end of the year, you should have higher gains than losses. That is, excluding any other investments you do and/or all the spare change Acorns saved for you.
What do you mean by Acorns saving spare change for me?
What Acorns does is that it saves any spare change that you have from any purchase or transaction using your desired method of payment (bank account, credit/debit card, etc.) For example, let's say you go to a Starbucks and you buy an Iced Coffee with a Cheese Danish and your total is $8.75. If you pay with your debit card, per say, and you have that card linked with acorns, you will be charged $8.75 for Starbucks but actually $9 for Acorns. Let me explain before you jump into conclusions. What that means is that __Acorns will round up your purchase to the next whole number (9 in this case), so the $0.25 remaining will be saved as "Spare change" into your Acorns account. This way, you will be saving money without even noticing and without it affecting your pocket. Think of this, if you would have paid for that order in cash instead, and you gave the barista a $10 bill, your change should be $1.25 but most likely you would have kept the dollar but either lost or threw away the quarter ($0.25) because we tend to not like walking around with change (coins) in our pockets. Not all of us are like that though. I hope that example made sense. The point is that you will save some money in a way that will surprise you. I joined Acorns around 6 months ago and this is the balance I have right now: (this includes both investments and spare change saved)
Pretty cool huh? Hold on, it gets better...
Acorns even makes an analysis of your monthly earnings and predicts how much money you can potentially make in the future. By the time I retire, I should have more than $100,000 saved in my Acorns account. Sick !
Acorns also has a cool feature they call "Found Money" in which companies invest in you for buying their products or services. I bought flights the other day from Expedia+ and earned 4% back of my purchased through Acorns investment system.
Disclaimer: I am not affiliated with/ or sponsored by Acorns LLC. I just wanted to share with the Steemit community an app with a concept that I find very cool and innovative, besides the green part, which is great because helps our ecosystem.
On that note, if you want to join Acorns because you want to invest in stocks, or because you want to have better -more fun version of a savings account in your pockets, or if you just want to help the planet by planting an Oak Tree on your behalf, then please feel free to go ahead and click the link below to start using Acorns. I hope this was helpful.
Thanks for reading.
Referal Code ---> https://acorns.com/invite/M79ZXB
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