Acorns is a comprehensive financial wellness app that empowers users to save, invest, and learn all within a single, easy-to-use platform. With over 10 million sign-ups, Acorns has become a popular choice for individuals looking to take control of their financial future.
The core feature of Acorns is its innovative Round-Ups® investment tool. Every time a user makes a purchase, Acorns automatically rounds up the transaction to the nearest dollar and invests the spare change in a portfolio of selected ETFs. This “set-it-and-forget-it” approach to micro-investing allows users to gradually build their investments over time without even noticing.
In addition to Round-Ups®, Acorns offers expert-built portfolios suggested based on users’ financial goals, risk tolerance, and investment objectives. These portfolios are thoughtfully diversified and include ETFs managed by reputable investment firms such as Vanguard and BlackRock.
Acorns don’t stop at investing spare change; it also offers a range of other features to support users’ financial well-being. For instance, users can open an Acorns Checking account, which comes with an Acorns Visa™ debit card issued by Lincoln Savings Bank or nbkc bank, Members FDIC. Acorns Checking clients enjoy benefits like no overdraft fees, no maintenance fees, and even real-time Round-Ups® investments into their Acorns Investment account with each purchase.
To cater to users who are interested in retirement planning, Acorns offers the Later account—an Individual Retirement Account (IRA) that helps users save for their golden years. Whether it’s a Traditional, Roth, or SEP IRA, Acorns provides personalized investment options based on users’ suitability questionnaire responses, making retirement planning simple and accessible.
Acorns also encourages financial literacy and learning with its educational resources. Users can access articles and tools to expand their knowledge about investing, budgeting, and personal finance. This commitment to financial education sets Acorns apart as a holistic financial wellness solution.
Security and protection are of utmost importance to Acorns. The platform ensures that Acorns Invest, Later, and Early accounts are SIPC-protected up to $500,000, safeguarding users’ investments. Additionally, Acorns Checking accounts are FDIC-insured up to $250,000, with robust fraud protection and data encryption.
Whether you’re a seasoned investor or just getting started, Acorns offers a plan for everyone. Its subscription tiers bundle products, tools, and education to cater to individuals at different stages of life. Starting at just $3 per month, users can access a suite of financial services without worrying about hidden costs or transaction fees.
In conclusion, Acorns revolutionizes how people save and invest by simplifying the process and making it accessible to all. Through Round-Ups®, expert-built portfolios, retirement accounts, and educational resources, Acorns empowers users to take charge of their financial future, one small step at a time.
Round-Ups® automatically rounds up your purchases to the nearest dollar and invests the spare change in your Acorns Investment account. For example, a $3.25 coffee purchase would result in a $0.75 investment.
Is my money safe with Acorns?
Yes, Acorns takes security seriously. Acorns Invest, Later, and Early accounts are SIPC-protected up to $500,000, and Acorns Checking accounts are FDIC-insured up to $250,000, with advanced fraud protection.
Can I open an Acorns account if I'm not a US citizen?
No, currently, Acorns is only available to US citizens or lawful residents located in the United States.