Just downloaded this and I'm investing $20 a month. Anyone using this mf'er?
Acorns. Money Investigating App
- Thread starter UKserialkiller
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Since when do prostitutes and crack dealers a) take credit cards and b) charge non round numbers?
2017. They gotta diversify, man.
Big baller, don't spend it all in one place.
This is actually right up my alley... but I refuse to link my cards to my phone for wireless pay. I'm just not going to effing do it until they force us to.
****, it says by age 82 that I'll have $100k. Get rich or die tryin'
I'm giving it a try as well. Can't see any downside for only $1 a month (cost). You really don't see a difference in terms of overall transactional costs when making purchases, might as well put the "round up" money in a safe place where it will grow.
Tempted to delete the app so I won't be tempted to make withdrawals or check the balance. Very user-friendly interface.
Tempted to delete the app so I won't be tempted to make withdrawals or check the balance. Very user-friendly interface.
Biggest disadvantage is high management fees when starting out with low balances.
Having said that, it's also a great starting point.
Having said that, it's also a great starting point.
Fees seem so smal that I don’t even notice them.
I opened one up in 2014. Withdrew $2500 earlier this year to pay for half of a fun-mobile project. I just look at the account as found money that I don’t miss.
You link it to a checking account so I don’t know what you are talking about in terms of paying with a phone.
I check my account once a month because I have noticed it stop logging transactions because it loses connection with my checking account at times.
Mine is already back up to $500 since I withdrew money. Also, my wife doesn’t really know about it.
If you are worried about constantly taking from it then I suggest not being broke.
I opened one up in 2014. Withdrew $2500 earlier this year to pay for half of a fun-mobile project. I just look at the account as found money that I don’t miss.
You link it to a checking account so I don’t know what you are talking about in terms of paying with a phone.
I check my account once a month because I have noticed it stop logging transactions because it loses connection with my checking account at times.
Mine is already back up to $500 since I withdrew money. Also, my wife doesn’t really know about it.
If you are worried about constantly taking from it then I suggest not being broke.
Yeah, that makes more sense. I was mistaken.
Hmm. I somehow inferred that a mobile payment app was required for all round-up apps to facilitate instantly splitting funds between the card, the round-up account and the bank. I assumed this to be the case for all simialr apps b/c the app I remember seeing actually did round up instantly, making all withdrawals on the linked account nice and even in .00s... and I'm almost certain it required a mobile pay app b/c that's what put me off of it. I see that Acorns doesn't work that way, saving the round-ups in theory before hitting the $5 benchmark and then making a $5 withdrawal from the linked account. Is it possible that a mobile pay app could be necessary for one and not the other?
I'm not sure if I'd like that or not... the idea of dealing with a litter of $5 debits every month in my statement does not sound as appealing as the idea of nice round numbers and doing my own saving/investing. And I didn't see where that $5 interval could be set to a higher value...
Started my account last year, it's up to $1100. Feels like I'm living a rap video at this point.
Ok. Hold up. Maybe i should have read the fine lines. If i invest $20 a month with this app, then what are the fees?
Bro, in your case, the management fee is high. $240/$12 for 1 year. Even on $500, fee = 2.45%. Fee for many good mutual funds = .5 - 1.5%.
But slow going this route at least encourages investment in small amounts .
So explain this to me like I'm five.
What are the fees? I see it says $1/month. What is the catch?
Also, am I required to deposit a X amount of money throughout the year, like $5 every 30 days, or can I just put some money in at first then the rest be round ups on purchases?
What are the fees? I see it says $1/month. What is the catch?
Also, am I required to deposit a X amount of money throughout the year, like $5 every 30 days, or can I just put some money in at first then the rest be round ups on purchases?
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Going to invest those Netflix savings?
Keywords, from the website:
"For accounts of $5,000 or more, pay only 0.25% per year.
Free for college students with a valid .edu address for up to four years from date of registration. ".
For an amount of $1,000, and you leave it there, you're still looking at 1.2% annually on the fees. The account is worthwhile for slow savers. Important concept here is time and investing at set intervals. In small amounts, fees are unreasonable for the first few years, in my opinion.
Better alternative is a mutual fund with low minimums and paycheck withdrawals.
Don't trust it. I got all my extra funds in Bitcoin and fentanyl.
From what i read about it, high fees and they put you in their own crappy fund.
A similar yet better concept should be coming anytime youd think.
A similar yet better concept should be coming anytime youd think.
I'm going to check out the sites that have so many people on Facebook begging others to watch advertisements. Seems legit and should be big money and/or great prizes.
T rowe price and vanguard have zero/low fees. To me, vanguard funds are the best. You can invest small increments, i think, but require $4000+ initial investment.
Swagbucks. Not really big money. I rarely watch any videos, but take advantage of cash-back offers. If you game it right, you can receive 10% cash back via airline miles and Swagbucks. Some surveys are cool.
$3,000 Vanguard and $2,500 T. Rowe Price. Extremely low fees and well-managed.
Schwab currently offers $1 minimum/$1 additional investments on their S&P Index-500 fund. Management fees are an insanely low 0.03%. I was gonna recommend to brother Willy.
Thanks brother. Don't have the initial amount tho.
Austin, how do i do the schwab thing? I got an acct with them
I'm not too familiar with their interface, but if you have a Charles Schwab account, login, choose your fund, and setup automatic deductions from your checking or savings account.
Austin is the mf'in man
