When you connect your bank accounts or credit cards to Acorns, every time you spend, y our transactions will be rounded up to the nearest whole dollar. Round-Ups help you invest your spare change and “grow your oak” faster with micro investing. This is ideal if you already have some spare cash and you want to invest it. You can also make One-Time investments, so you can just transfer a chunk of money into your acorn account at once and watch it grow. I like recurring investments because you can put your money to work as soon as you earn it and you don’t need much money to get started. I currently have my recurring investment set to $150 per week, although I’ll probably get more aggressive with this soon. You have full control over them, so you can choose the frequency (daily/weekly/monthly) as well as the day of the week your specified amount gets invested. Recurring InvestmentsĪcorns allows you to set up regular recurring investments from your bank account, which you can pause or cancel at any time. There are several ways you can invest money with Acorns: One-Time investments, Recurring Investments, Round-Ups and Found Money. If you want even more detailed information, you can download the Vanguard prospectus. If you click on each one, you’ll see a graph showing the market gains/losses, along with more detailed information about year-to-date returns. It’s a mixture of large company stocks, emerging market stocks, government bonds, international large company stocks, small company stocks, real estate stocks and corporate bonds. Here’s an example of what the portfolio (managed by Vanguard) looks like: I chose Moderately Aggressive – “A moderately aggressive portfolio is most appropriate for those with longer time horizons, young in age, and a higher risk tolerance.” There’s a questionnaire they use to recommend the best investing strategy for you, but you can choose whichever portfolio you want. When you sign up to Acorns you’ll be asked to choose a portfolio type Conservative, Moderately Conservative, Moderate, Moderately Aggressive or Aggressive. I’ve been using the Acorns app for the last couple of months, so I thought I’d give you the lowdown on how it works and what I like about it. It’s designed to make investing easy, so you don’t really think about it, it just comes straight out of your account. A friend of mine recommended Acorns, which allows you to invest your spare change, as well as investing money on a regular basis with recurring payments. As I got wiser to the concept of investing, I started experimenting with stocks, cryptocurrencies and various spare change apps. I started to look for extra ways to make money and began reading about investing. * The Raiz mobile app has achieved an average rating of 4.In my 20s I just spent whatever money came in, but when I reached my 30s I became more financially conscious and decided that perhaps it was time to think about, you know, actually saving for a house. ^ Vickovich, A 2022, ‘Micro-investing market doubles as a Robinhood trend endures’, Australian Financial Review, 19 May, "Raiz" are registered trademarks of Raiz Invest Limited. Raiz Home Ownership Pty Ltd is 100% owned by Raiz Invest Australia Limited (ABN 26 604 402 815). Raiz Home Ownership Pty Ltd (ABN 14 645 876 937), an Australian Credit Representative number 528594 under Australian Credit Licence number 387025. Home loans are subject to approval from the lending institution and Raiz Home Ownership makes no warranties as to the success of an application until all relevant information has been provided. The Raiz Invest Super PDS contains all information on our super investment options and fees. A person should consider the information in the PDS and the other important information (including the Members Guide) which form part of the PDS. The PDS and TMD are issued by Equity Trustees Superannuation Limited (AFSL 229757, RSE Licence No L0001458) as Trustee of AMG Super. Raiz Invest Super is a Division of AMG Super. Our Raiz Invest account fees can be found here, with detailed explanations and examples in the PDS and FAQs. The risks of investing in these products are fully set out in the PDS and include the risks that would ordinarily apply to investing. A person should read and consider the PDS and TMD before deciding whether, or not, to acquire and continue to hold interests in these products. Product Disclosure Statements (PDS) and Target Market Determinations (TMD) for these products are available on the Raiz Invest website and App. The Raiz Invest Australia Fund and Raiz Property Fund are issued in Australia by Instreet Investment Limited (ACN 128 813 016 AFSL 434776) a subsidiary of Raiz Invest Limited and promoted by Raiz Invest Australia Limited (ACN 604 402 815). Raiz Invest Australia Limited – Authorised Representative of AFSL 434776.
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