I know nothing about investing so I downloaded this today. Seems pretty easy to use so what the hell. Thoughts and experiences?
>Only available for US residents only
dropped
In same boat as OP recently found Acorns and have no knowledge of investing is this a good start?
Ausfag here
>>1145056
Investing in the right enterprise at the right time, it is mainly a game of luck, you can increase your chances if you have valuable information at your disposal. 101
Stock market is luck; I recommend investing in an index (S&P500) and sit for a couple of years
>>1145056
It's fine but you must invest more than 5k. Otherwise, the $1 per month fee for less than 5k accounts is as bad as investing in a mutual fund.
The 0.25% investment fee they charge yearly for 5k+ accounts is average with what most index funds charge you, but some can go lower with around 0.18% for the Vanguard S&P 500, for example.
If the ~0.07% of your yearly gains isn't worth the hassle of balancing your portfolio on your own and buying it every now and then and you want a "set and forge" type of thing, then by all means, go for it. But just seriously be aware of how they are profiting at your expense and what you are paying for that privilege.
>>1145056
You guys are missing out on great opportunities that come out once in every 20'40 years. Ethereum
>>1145376
Do you really care about $1 fee per month?
>>1145376
Is $1 a month worth the lessons you can learn from a noob friendly app?
>>1145987
Please tell me you're joking. Compounding $1 at say 10% over a 5 year period is still under $100...
>>1146010
And it's still high on a mathematical basis. You might as well go with a mutual fund rather than Acorns if you want them to take that much in fees with a sub 5k investment.
It really comes down to how much you value the dollar and clearly, I would say I value it more than you and the other two posters I replied to.
>>1146036
Okay OP here, forgot about this yesterday. I'm under 24 for the app has no fees. Seems slightly sketchy but hey no risk no reward. I don't think you can manually change your portfolio, only switch settings on how aggressive or conservative your investments are, which is a little irritating.
