Top Rated For

澳洲幸运5开奖号码历史查询:Best for Those Who Struggle to Save

Our Take

Acorns is a unique robo-advisor, with the objective of making it easy to start investing and saving for your future by automatically investing your “spare change” with every debit or credit card purchase. Once Acorns’ Round-Ups® feature has been selected in the account, investors can effortlessly invest by automatically rounding up their purchases to the next dollar, and investing what’s left over. Because this concept is so effective at allowing customers to start investing by simply setting aside pocket change, Acorns is Investopedia's choice as the 澳洲幸运5开奖号码历史查询:best ro✱bo-adviso꧅r for those who struggle to save. For small accounts, however, theಌ monthly account fees could outweigh the savings feature, depending upon the investor’s level of use. We’ll take an in-d✨epth look at the pros and cons to help you decide if this robo-advisor is right for you.

Pros & Cons

Account Overview

One feature that makes Acorns stand out among robo-investing competitors is the ability for investors to implement a powerful 澳洲幸运5开奖号码历史查询:micro-saving sไtrategy known as “round-up” investing. Acorns' Round-Ups feature is simply the ability for an investor to round up everyday purchases and 🧔invest the “spare change” amount.

For example, if an investor has an Acorns debit card, or any other credit or debit card linked to the Acorns investing account, and makes a purchase for $10.25, 🗹the amount is rounded up to $11.00, with $0.75 automatically being invested for your future. Because of this effortless and easy investing feature, Acorns earned the Investopedia award for the Best for Those Who Struggle to Save category.  

Account Setup

Opening an Acorns account is simple and can be done completely online. During account setup, investors will input information regarding income, age, time horizon, risk tolerance, and financial goals to determine asset allocation within the portfolio. Acorns will automatically recommend a diversified portfolio of ETFs customized for you based on your investing preferences and needs. Any account level is also able to personalize investments with a Bitcoin-linked ETF; further customization can take place by selectꦏing individual stocks at the Gold account level. 

Once the account is set up, it's completely hands-off for the investor when you turn on the automatic Round-Ups feature or recurring investments. Acorns takes care of diversifying your investments, rebalancing your portfolio, and reinvesting your dividends automatically.

Goal Planning

Acorns investors have the ability to choose from four different ﷺacওcount types:

• Invest: Regular investing account
• Later: Retirement account; traditional, SEP, or Roth IRAs are available
• Early: Investing for kids (Gold level only)
• Banking: Invest spare change in real time and set up automatic investments every time you get paid

Acorns offers🐎 investing and banking all in one place. When investors also open a banking account, they can easily set up automatic Round-Ups investing. This means that when investors make a purchase with their Acorns debit card, the spare change amount will automatically be invested in real time. If an external checking account is linked or an external credit card is used, however, the spare chan𝓡ge amount is pulled from the external checking account and invested only when a minimum of $5 is reached. 

Account Services

Acorns also stands out as a robo-advisor by offering investors the ability to earn bonus investments for shopping. There are more than 400 in-app partner brands to♛ earn bonus investments with and over 15,000 offers from major brands to earn investment bonuses automatically when you shop from your desktop or smartphone by installing the Acorns extension on Chrome or Safari internet browsers. 

Another unique feature that Acorns offers is𒁃 a side hustle search. Acorns users can search part-time, full-time, or remote jobs through JobFinder for ways to earn additional money. Lastly, Acorns users can also earn bonuses by inviting their friends to sign up and join. Plus, account members can also earn up to a 25% bonus investment match from Acorns, and Gold members can earn up to 🅷a 50% match on bonus investments. 

Cash Management

All Acorns members have access to these features🤪:

• Checking account that saves and invests for you
• Instantly invest spare change with real-time Round-Ups
• No overdraft fees
• No ATM fees at 55,000 locations nationwide and around the world
• Acorns Visa™ debit card

Additionally, Silver and Gold members can open an emergency fund account and have the ability to earn 2.57% APY on their checking account and 4.05% APY on the emergency fund account.

Portfolio Construction

Similar to most other robo-advisor platforms, investors will walk throuཧgh investment goals and preferences during account setup. Acorns offers several different ETFs, based on theme, to recommend for investment:

• 5 Base Portfolios: Aggressive, Moderately Aggressive, Moderate, Moderately Conservative, and Conservative 
• 4 澳洲幸运5开奖号码ꦗ历史查询:ꦏEnvironmental, Social, and Governance (ESG) Portfolios: Aggressive, Moderately Aggressive, Moderate, Moderately Conservative
• 1 Bitcoin-Linked ETF: Invest up to 5% of your portfolio in a Bitcoin-linked ETF to further diversify your portfolio

Available Assets

Portfolio Customization

At the basic level, there is not much portfolio customization beyond answering the questions during account setup regarding investing goals, time horizon, and risk tolerance. However, there are a few investing preferences that can be added to any portfolio, including options for ESG or Bitcoin-linked funds. Additionally, investors do have the option to select individual stocks to further personalize their portfolio at the 🃏Gold account level.

Portfolio Management

Investors input information regarding income, age, time horizon, risk tolerance, and financial goals to determine asset allocation within the portfolio. Acorns will then automatically review your investments, usually on a monthly basis, and rebalance the portfไolio to sustain those initial levels if the portfolio has shifted significantly away from the foundational weightings. It is unclear exactly what constitutes a “significant shift” that would actually trigger an auto🌳matic rebalancing, though.

While Acorns does allocate new funds across all the ETFs you own in your portfolio to keep your asset balance in line with your allocation goals, when it comes to 澳洲幸运5开奖号码历史查询:rebalancing your portfolio and buying or selling assets, tax-loss harvesting is not taken into consideration, as it is♊ not offered by Acorns at this t🍌ime.

Real-time reporting on progress toward goals is available to investors when they log in to their accounts. Investing can also take place in real time when using the Acorns' Round-Ups feature. The spare change amount can be invested immediately if it is transferred from the Acorns checking account. If it is an external account, no investing will take place until the $5 minimum is reached.

Key Portfolio Management Features

User Experience 

Desktop

Investors can easily set up an account online in just a few minutes. Account users can also conveniently log in via desktop computer to check the status of their account and make changes. Users ♔are also able to download the free Chrome extension to unlock special savings and bonuses while shopping at their fa๊vorite brands.

Mobile 

Acorns offers apps for both iOS and Android. Functionality mirrors that of the desktop, so viewing and making changes to your account can be done easily from your smartphone. However, there are a few things that can be done on the mobile app that cannot be done on the desktop, such as depositing a check. Since depositing 𓆏a check cannot be done at an ATM, users must log in to their app to upload pictures of the check and enter the amount.

Customer Service

There are several ways that inve🌠stors can conta▨ct Acorns with questions or issues:

• Help Center: Search a topic and review results based on matching keywords.
• Live Chat: Investors can ask questions in a live chat via the website or through the app, 24 hours a day, 7 days a week
• Email: Investors can submit an email ticket with non-urgent questions
• Telephone: 855-739-2859, 8 a.m. to 10 p.m. ET (5 a.m. to 7 p.m. PT), 7 days a week.

Security 

Acorns has several security measures in place to keep investor account informat✤ion safe and secure.

• Two-factor authentication: Acorns requires all accounts to have two-factor authentication for security purposes. While investors cannot disable this account security feature, they can update or change their email or phone verification.
• Optional verification through service: Verifying your identity through SSA’s eCBSV service is not a mandatory step to opening an Acorns account, but it does provide an extra layer of account protection.
• SSL encryption: Acorns’ website and app are secured with 256-bit encryption.
• Account alerts: Investors will be notified about unusual account activity to help secure their accounts against fraud.
• Automatic logouts and ID verification: Account safeguards are in place to help prevent unauthorized access.

Acorns is a member of SIPC, meaning that securities in your account are protected up to $500,000. Additionally, Acorns checking accounts are FDIC protected up to $250,000 because Acorns’ banking partners, Lincoln Savings Bank and nbkc bank, are both FDIC members.

Education

Acorns offers several articles and videos to help investors understand basic investing and t𝕴o grow their knowledge. Silver and Gold members also get live Q&A sessions with financial experts, and Gold members have the additional option of taking educational courses.

Commissions and Fees

Acorns has a straightforward fee structure that makes it easy for investors to know what to expect for each account type♛, with no hidden costs or transaction fees:

• Acorns Bronze: $3 per month
• Acorns Silver: $6 per month
• Acorns Gold: $12 per month

Each account type offers investing, banking, earning, and learning options, with the Bronze account being basic, Silver offering a few additional perks, and Gold offering even more features, such as GoHenry (banking for kids), $1𓂃0,000 life insurance for eligible customers, a🔯nd an option for a no-cost will to help plan for the future. 

On the banking side, the company also promises:

• No hidden fees
• No minimum balance fees
• No overdraft fees
• No fees to use any of the 55,000+ ATMs within the AllPoint Network

While the fees are somewhat affordable, as compa🌸red to other robo-advisors within the industry, they are relatively high; many companies charge $0 monthly fees. However, standard account features may make the slightly higher fees worth it.

The Bottom Line

Acorns is distinctive among robo-advisors. With the Round-Ups feature, which allows investors to easily invest “spare change” from every credit or debit purchase linked to their account, the company has created a pathway to help those who find it hard to save money. The company also offers a host of additional benefits, including investment bonuses, kids' accounts, life insurance, and no-cost wills to help families plan for the future. Investors who want to take advantage of the life insurance and will options at the $12 per month Gold level may find it worth their time, considering the will planning alone is valued at $259.

However, with the lowest member level costing $3 per month, it is necessary for an investor just starting out to determine if they will actually be able to save enough each month by investing spare change or earning enough investment bonuses to outweigh the cost.

What Is Acorns Investing?

Located in Irvine, California, Acorns is a financial technology and services company that offers a unique method of investing by allowing members to invest their spare change from credit or debit purchases by rounding up each purchase to the next dollar. Very simply, once you have linked a debit or credit card to your Acorns account and make a purchase, yo🌳ur spare change will be invested. If you spend $3.75, then $0.25 will be invested. If you have a hard time setting money aside to invest, using the Round-Ups feature with Acorns is a great way to start saving for your future.

Is Acorns Worth it?

Acorns charges monthly membership fees, starting at $3 per month. Even though it is a very𒈔 easy way to get started investing, if you don’t make enough purchases each month to round up and set aside enough money, the monthly fee could outweigh the benefit. Higher levels of membership, such as the Gold level at $12 per month, include additional benefits of kids’ savings accou🔯nts, creating a will, or even the option for life insurance; if those are options that investors need, the value of these items alone is worth more than the fees. Bottom line, each investor needs to examine their needs to determine if Acorns is the right choice.

Where Does Acorns Invest Your Money?

Acorns invests your money in a diversified portfolio of ETFs based on your investing goals and preferences. Acorns offers portfolios based on investing style: Aggressive, Moderately Aggressive, Moderate, Moderately Conservative, and Conservativ🐈e. Additionally, investors can add ESG and ﷽Bitcoin-linked ETFs to their portfolios as well. Gold members can further customize their portfolio with the option to add individual stocks. 

How Can I Invest With Acorns?

Setting up an account with Acorns ဣis simple and can be done easily online or through the app🌊. Investors can choose to use the Round-Ups feature or set up recurring contributions to invest each month in the recommended portfolio of ETFs.

Is Acorns Investing Safe?

Investing in the stock market is never guaranteed, but Acorns implements 澳洲幸运5开奖号码历史查询:portfolio diversification to mitigate the risk of investing by spreading out the money across several stocks and bonds within the ETFs. Acorns also has several security measures in place to protect account user information: two-factor authentication, an encrypted website, and security alerts.

How We Picked the Best Robo-Advisors

Providing readers with unbiased, comprehensive reviews of digital wealth management companies, more commonly known as robo-advisors, is a top priority of Investopedia. To collect data for our 2024 best robo-advisor awards and rankings, we sent a digital survey with 64 questions directly to each of the 21 companies we included in our rubric. Our team of researchers verified the survey responses and co🙈llected any missing data points through online research and conversations with each company directly. The data collection process took place from Jan. 8 to Feb. 9, 2024.

We then developed a quantitative model that scored each company to rate its performance across nine major categories and 59 criteria to find the best robo-advisors. The score for each company’s overall star rating is a weighted average of the criteria:

• Goal Planning - 21.00%
• Portfolio Contents - 17.00%
• Portfolio Management - 17.00%
• Fees - 15.00%
• Account Services - 10.00%
• Account Setup - 5.00%
• Customer Service - 5.00%
  
• Security & Education - 5.00%
• User Experience - 5.00%

Many of the companies we review for our projects grant o🐻ur team of expert writers and editors access to live accounts so they can perform hands-on testing. Robo-advisor companies allowed us to do this, as well.

Through this all-encompassing data collection and review process, Investopedia has provided you with an unbiased and thorough review of the top robo-advisors. Read more about 澳洲幸运5开奖号码历史查询:how we research and𒀰 review robo-advisors.

The above material and content should not be considered to be a recommendation. Investing in digital assets is highly speculative and volatile, and only suitable for investors who are able to bear the risk of potential loss and experience sharp drawdowns. Digital assets are not legal tender and are not backed by the U.S. government. Digital assets are not subject to FDIC insurance or SIPC protections.