Must Get iOS App – Acorns
We have not been this impressed with an application in a long time!
Acorns for iOS actively helps you save and invest your money. So here is the concept: Acorn rounds up every transaction to the nearest dollar and invests it into a personalized portfolio based on your annual income and current financial worth. I was placed in the moderate category portfolio (see image) but changed my preferences to the aggressive strategy. Hopefully in the future you will be able to create more personalized portfolios, and funds based on the companies you choose. *FINGERS CROSSED* After you connect your debit or credit card, checking account, and you can start to grow your investment portfolio. The app only charges you $1/month + there’s no minimum balance and the fee is just 1%. they also will give users $5 when they first create their accounts. Please note that you need to pay taxes on all realized capital gains and can deduct any realized capital losses.
You can sign up at www.acorns.com/?ref=29598653 and get on the Beta list, which you should do sooner than later. All investments are insured up to $500.000 width the securities Investor Protection Corporation (SIPC).
This can be a great money saving App for younger American’s and teach financial responsibility at a younger age.
Jeff Cruttenden, The co-founder noted, “We’re not setting out to change peoples’ behavior, I think the average person knows they should save or invest more, but it’s difficult to make that commitment. We wanted to build something that could work in the background.”
We look forward to seeing future features roll out!