Showing results for 
Search instead for 
Did you mean: 

Any one using Acorn as an investment tool?

Senior Contributor

Re: Any one using Acorn as an investment tool?

How many different tax lots does a typical customer end up with?
Protections: CSR, Schwab Platinum, Costco, Double Cash
Rewards/Offers: BBP, CF, CFU, Discover, ED, BCE
Annual nights: IHG, Hyatt
PIN: Arrival
Bonus chasing/retention games: Aviator Red, SPG Luxury
Message 11 of 14
Regular Contributor

Re: Any one using Acorn as an investment tool?

If you have an edu e-mail address you can avoid the fees for 4yrs. I really don't understand investment but I've been giving it a try with since I have a vaild edu email and it seems to save quite a bit. I've been with acorns for almost a  year and I have a little bit over 2k built up from deposits and round-ups. I change my deposits quite frequently depending how much I can save. I usually do the daily deposits from anywhere to $5-15/day. Right now have it set to $5 because I'm saving a little bit more in my actual savings account at the moment.

EX FICO 8 - 826 (10/18) | TU FICO 8 - 823 (9/18) | EQ FICO 9 - 843 (9/18)
Message 12 of 14
New Contributor

Re: Any one using Acorn as an investment tool?

Just wanted to throw this out there. For those who prefer to invest themselves, or dont like acorns for whatever reason, I recently stumbled upon a competing app called Qapital that does a similar thing. You can set round ups but also other triggers to withdraw into a free savings account. Also has an overdrawal safety feature that stops deposits if your funding account hits $100.

It even has an optional trigger than will move a preset amount if your local temperature drops below freezing. Found that kinda funny.

But more useful triggers include setting a budget for something and moving the difference if you stay under or triggering every time you buy from a certain merchant if youv got some habits you can take advatage of. You can also order a linked debit card if that interests you.

Not much experience with it yet but I prefer my own investments to acorns yield personally. So figured id give it a try, I regularly move chunks to a high yield savings (kudos to discover for tracking the feds a bit, increased .10% in the past month) but a free separate savings to fund my current investment accounts could be handy. Well see.

Gardening until May of '19?
Message 13 of 14
Regular Contributor

Re: Any one using Acorn as an investment tool?

I became very serious about money and finances - quite late in life. I started with Acorns - and I love it. I was one of their earlier members, and in only 3 years, I now have a little over $5,000. Yes, you have get a higher return value elsewhere - but this is extra - on top of regular and consistent investing. The money going into Acorns, I never miss. I contribute automatically $10.00/week - but those round-ups ADD UP! And if I had had Acorns years ago, with the knowledge that I now have - I cannot begin to imagine what a sum that I would have built. I love Acorns!

Starting Score:537
Current Score: 748
Goal Score: 790

Take the myFICO Fitness Challenge
Message 14 of 14