Acorns

[MissLiz]

I recently regained access to an old yahoo account of mine and as I've been combing through the thousands of emails, I was reminded of an acorns account that I had completely forgotten about. Today, I was able to log in and saw I hadn't made a contribution since January of 2019, but my $265 had grown to nearly $500!

Not bad for forgotten money. 

[keekers]

Very nice; congrats for remembering it.

[FicoMike0]

Congratulations, found money is nice!

[ptatohed]

Nice.  I actively use acorns, I have been happy with them.  I'm grandfathered in at $1/month.  You might be at the new $3/mo because you had to actively request to stay at $1 when they first made the announcement.  Keep in mind $36, even $12, per year on a low balance is a very high investment fee %.  

I found about $400 (face value) worth Series EE bonds in a drawer a few months ago that I have had for 15+ years.  They had a today value of low/mid $300ish but since they were earning peanuts %, I mailed them in to cash them out.  Haven't received the money yet.  

[FicoMike0]

More found money! I sold some stock options for $300 last week. If they expire uncalled at end of month, it's all profit.

[MissLiz]

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@ptatohed wrote:

Nice.  I actively use acorns, I have been happy with them.  I'm grandfathered in at $1/month.  You might be at the new $3/mo because you had to actively request to stay at $1 when they first made the announcement.  Keep in mind $36, even $12, per year on a low balance is a very high investment fee %.  

I did see that it is now $3 instead of the $1 I was paying. I've gone ahead and linked my cards again for round-ups, and reinstated a small auto draft to the account monthly, so I'm back to putting money in it. 

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[ptatohed]

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@MissLiz wrote:

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@ptatohed wrote:

Nice.  I actively use acorns, I have been happy with them.  I'm grandfathered in at $1/month.  You might be at the new $3/mo because you had to actively request to stay at $1 when they first made the announcement.  Keep in mind $36, even $12, per year on a low balance is a very high investment fee %.  

I did see that it is now $3 instead of the $1 I was paying. I've gone ahead and linked my cards again for round-ups, and reinstated a small auto draft to the account monthly, so I'm back to putting money in it. 

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Good plan ML.  This is just me but I always strive to have an investment fee of less than 1%.  If you're paying acorns $36/yr, that would require having an investment balance of $3600+.  Obviously do what's best for you but I just thought I'd bring it up for you to keep the expense ratio in mind.    acorns essentially puts your money in low cost 0.12% - 0.25% ETFs.  You could invest in the same ETFs on your own.  But, yeah, the convenience of roundups, the diversified portfolios, auto-investing, even just using the shopping partners all have a value.  So, I do like acorns.  Just give some thought to if $36/yr is worth it to you.        

[MissLiz]

@ptatohed  Wow, thanks for the perspective! I hadn't thought about that. I do like the convenience of not having to think about it. I did open a CapOne 360 HYSA yesterday and that's where I will really put money. 

[ptatohed]

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@MissLiz wrote:

@ptatohed  Wow, thanks for the perspective! I hadn't thought about that. I do like the convenience of not having to think about it. I did open a CapOne 360 HYSA yesterday and that's where I will really put money. 

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Nice ML.  Are you working toward one of the $300, $750, $1500 bonuses?  https://www.capitalone.com/bank/bonus1500/