I think Acorns is a great app for all types of investors even though you can tell they are targeting beginners. Essentially, Acorns will round your purchases and invest the difference into stocks. Say you buy a coffee that is $4.30. Acorns will round that purchase to $5 and help you invest the difference ($0.70). It's a great way to slowly add more money to your investments although you can also choose to set up monthly deposits. They allow you to select how risky you want your portfolio to be and depending on what you select, the ratio of stocks/bonds in your portfolio will change. Students that signup with a valid .edu email will not pay fees for 4 years so it's definitely worth a try if you are still in college.
The app itself is really well designed. Probably one of the nicest apps I've seen in a long time. Overall I would recommend Acorns and will definitely keep using it.
2 months ago
I absolutely love it. I've been heavily downvoted for mentioning it in the past but for a fledgling investor, it's great. It helps you save and invest money without thinking about it, and allocates it based on modern portfolio theory with respect to your risk tolerance. Not to mention it lets you dollar cost average effortlessly. I especially love the no commissions part of it. I'm overjoyed that less than 48 hours ago they made it free for students. I've been making some larger lump sum investments since the market has been down. I would recommend it to anyone in college to help start them on investing.
2 months ago
I love it. Not because of their investment strategies necessarily but it makes it so easy for me to save little by little without really feeling the hit of saving.
I have it set where I invest $7 everyday. It's also informative to see everything you're spending money on then rounding it up to invest. I do this EVERYDAY.