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Subject: "Pocket investments aka stack money while doin' nothing" Previous topic | Next topic
double negative
Member since Dec 14th 2007
21506 posts
Wed Jul-26-17 08:59 AM

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"Pocket investments aka stack money while doin' nothing"
Wed Jul-26-17 09:04 AM by double negative

  

          

From another thread I brought up the Acorns app.


*What is it?

Its a micro investing platform thats funded using money rounded up from card transactions. Every time you use your card whatever is left over be it 99cents or .01 cent is sent to your Acorns account automatically.

If your total from a transaction is $1.09 then .91 is sent to your Acorns account
If your total from a transaction is $1.99 then .01 is sent to your Acorns account.

I also just learned that if you have other invest accounts linked to the main account thats feeding Acorns then anytime money goes from the main account to the investment account a single dollar goes to your Acorns account.

*So, what? This is is like Keep the Change thingy from Bank of America or Wells fargo?

Kinda. The big difference is that the money is placed in the markets across a mix of stocks and bonds. (large+small company stocks, emerging markets, real estate stocks, gov bonds, corporate bonds, international stocks). Rather than have money sitting in a savings account earning a percent of a percent in interest the money is used to earn and grow.


*Can I get under the hood and select individual stocks, funds, etfs, etc?

Not really. You just have to set your risk level. The levels are, Conservative, Moderately Conservative, Moderate, Moderately Aggressive and Aggressive.


*Anything else?

Kinda, I also have it set to drop in 20 bucks each Monday.


*Does it work?

Absolutely, I've been using it in the background since January and I'm just under 1k. Thats $1000 gained doing nothing but setting it up and going on about my life.

I personally believe in "bucketing", thats having your money parked in several places while also earning money in several places. This is the dumbest most easy things to do. It's like giving your future self a gift off GP.


*What else you using?

Betterment, Robinhood plus some other stuff, but we're talking about mobile investing right now.


If you want a invite code let me know or PM me. The invite code gifts you 5 free dollars for getting started.


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Pocket investments aka stack money while doin' nothing [View all] , double negative, Wed Jul-26-17 08:59 AM
 
Subject Author Message Date ID
What are the fees like?
Jul 26th 2017
1
FOCUSED
Jul 26th 2017
2
$1.25 per month for accounts with a balance under $5,000
Jul 26th 2017
3
      Sounds like a rip off to me
Jul 26th 2017
5
           I'm not exactly sure how to respond to you on this one.
Jul 26th 2017
6
           you're applying advanced sabermetrics to a little league game
Jul 26th 2017
8
           RE: Sounds like a rip off to me
Jul 26th 2017
12
           That's what I'm saying. The more you invest, the less terrible this beco...
Jul 26th 2017
16
                RE: That's what I'm saying. The more you invest, the less terrible this ...
Jul 26th 2017
18
                     I'm not trying to be all in your pockets, but how much did you deposit?
Jul 26th 2017
20
           baby steps Pimp.. you are on another level,
Jul 26th 2017
14
           I have a 401K, a savings account, a 529
Jul 26th 2017
21
I set it up last night but it's not activated yet. Takes 1 to 3 days
Jul 26th 2017
4
get it going. forget about it and then look at it a month from now
Jul 26th 2017
7
so did I, did an initial $20 and a recurring $20/month, for now
Jul 26th 2017
17
      I'm going to round up and maybe do the $1 per transaction
Jul 26th 2017
22
RE: Pocket investments aka stack money while doin' nothing
Jul 26th 2017
9
RE: Pocket investments aka stack money while doin' nothing
Jul 26th 2017
10
I've been using "digit" for a minute now..
Jul 26th 2017
11
Robinhood is....its a toy but its not.
Jul 26th 2017
13
      that's exactly how I got mines set up
Jul 26th 2017
15
Acorns won't let me do the round up from my Credit Union.
Jul 26th 2017
19

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