Acorns is an automated investing app designed to make it easier to save money and invest it.
We know investing can seem scary especially when youre brand new to it.
But Acorns rounds up everyday purchases to the nearest dollar and invests the spare change in a diversified portfolio.
That allows newer or more hands-off investors to grow their money in a way that works for them.
ThisAcornsreview will explore its features, fees, investment strategy and how it compares to other platforms.
What Is Acorns and How Does It Work?
One of the biggest draws of the app is that it does some of the work for you.
you could also set up recurring investments, helping you stay consistent with your portfolio.
Acorns isideal for beginnerslooking for a hands-off investing approach or those who need a little help with saving.
There are also multiple accounts to choose from.
The fees can add up if youre looking to keep a small balance.
Heres what investing with the app would cost.
It uses Modern Portfolio Theory (MPT) to balance risk and reward.
MPT is basically the idea that diversifying your portfolio can boost your returns without a ton of risk.
So its a way for investors who arent ready to get risky to still reap the maximum benefits possible.
Acorns vs. Robinhood
Acorns vs. Stash
Acorns vs. Betterment
Acorns vs.
Competitors
Who Should Use Acorns?
Its also great for people who struggle to save money on their own.
However, not everyone is cool with relinquishing some control over their investments.
