# Acorns App



## Drkinferno72 (Oct 2, 2021)

Looking for an easy way to get into investing.

Is the Acorns mobile app worth it? Or does it seem sketchy


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## themasterlurker (Oct 2, 2021)

You won't get any huge returns as it largely invests in penny stocks, so don't expect massive earnings, $100-$500 extra each year isn't too much


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## Drkinferno72 (Oct 2, 2021)

themasterlurker said:


> You won't get any huge returns as it largely invests in penny stocks, so don't expect massive earnings, $100-$500 extra each year isn't too much


I call that gas and beer money


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## School Shooter (Oct 3, 2021)

I wanted to give it a try, and the change rounding sounded like a cool idea. My bank didn't accept Acorns though which I found odd considering it's a huge bank. So check and see if your bank is compatible before opening up an account if you like that feature. 

If you want to get started investing open up a Roth and put your money into a vanguard target retirement fund. Depending on how many years you have you literally can't fuck it up.


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## Spasticus Autisticus (Oct 3, 2021)

themasterlurker said:


> You won't get any huge returns as it largely invests in penny stocks, so don't expect massive earnings, $100-$500 extra each year isn't too much


It doesn’t use penny stocks, it uses ETFs. They’re the same ETFs you can buy at any other broker. Acorns just charges a flat fee to automatically round up charges and put the remainder in the ETF portfolio you choose, handling the asset allocation automatically. If you want to invest but don’t want to learn how to set up an automatic deposit on a real brokerage and choose the right funds yourself, then go for it, otherwise it’s kind of a ripoff. Especially since they apparently have very high transfer fees if you ever want to move off of it to a real brokerage.


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## Picklechu (Oct 7, 2021)

It's honestly pretty dumb. The fees are pretty high, and you could just open an IRA/Roth IRA/whatever yourself, manually select a handful of ETFs and/or target-date funds (it's incredibly easy to find an idea of what to pick online), and get more out of it. I guess for people who are terminally lazy, don't know anything about personal finance, and refuse to learn, it could be fine. I wouldn't recommend it though.


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