Post: #1

I don't know much about it, but it seems like a way to take extra change that you may not even notice is missing and invest it for potential funds growth.

From their website: Every dollar you invest is automatically diversified across 7,000 stocks and bonds to help maximize your return while reducing risk

Who is using it currently? Why or why not?

Post: #2

High % of assets fee makes it not worth it. If you're disciplined just throw fifty bucks a month into an investment fund yourself.

Post: #3

The folks on reddit made it seem like you'd only be paying a 1% monthly fee. Was I all the way wrong in how I interpreted that? I have no expertise or even general knowledge in this field of investing, so doing it by myself in an investment fund might not be the best idea.

Any other advice though would be appreciated.

Post: #4

For good index funds (highly diversified funds designed to track particular indexes like SP500 or Dow), expense ratios are as low as 0.1% per year. Typical long term (average over multiple years) investment results for stocks are 4-7% per year.

You subtract the annual fees from the annual returns. So with 1% monthly fees on 7% annual returns... Well, you are literally giving them money for their "fun" way to save. It's a great marketing plan and great deal...for them.

Look into investment advice by Jim Collins (he has a blog; no affiliation with me). In a nutshell look at something like index funds like Vanguard via an account through Fidelity. It's the best way to start. Low fees and quality, diversified investments.

Post: #5

Thanks for the thoughts. I looked into Jim Collins, but it's not the first result on Google. I found him though: jlcollins

I will look at his advice and see if I actually have any spare funds to invest. The thing with the Acorns was that it was very easy to get in, because it was basically hands-off. If you're saying it's a waste of time though, I'll re-think it.

Anyone else care to chime in?

Post: #6

The fraction of penny's that it generated didn't seem worth it overall for me. To top it off, they withdrew funds repeatedly on an account that went negative resulting in multiple NSF fees.