What does /biz/ think of the Acorns app/concept?

>>1645463
dogshit

When you’re dealing with just a few dollars every month, the $1 fee starts to make less sense.

If you have 50 transactions every month with an average of $.25 rounded-up per transaction, you’re only investing $12.50 every month. Acorns’ monthly fee is taking away 8% of your monthly contributions to your investment portfolio.

1% gains a month on $50 is pretty shit

>>1645470
isnt it free for students and people under 21?

>>1645463
This >>1645469

>>1645463
It's a piggy bank. I use it, but that's literally all I use it for. I've saved about as much money as I would have saved had I paid cash for everything and dropped the change in a jar at the end of the day.

been using it for 10 months or so. I dont use rounds up i just have a weekly recurring amount i deposit.
It has helped me save a decent amount of money. the returns only become worthwhile once you start getting up to $1000 in your account.
its not a get rich over night thing which is all biz seems to care about. you will accumulate money slowly over time.
feels good to look at my account and see the money ive saved in there and see the dividends i get from it get reinvested as well.

i would recommend have a weekly deposit of $10+ for at least 6 months and then check back on it and see if you want to keep it going

>>1647201
You could invest your money and collect dividends without paying any service charge.
So aren't you really saying that it's good because you lack the discipline to do this on your own and have to pay someone to force you to save?

>>1647287
im at the point now where my gains and reinvested dividends are much greater that the $15 a year fee. so not only am i saving but its growing at faster rate than i would earn in interest in a bank account.

and yeah ive have saved more with this in 10 months than 2 years just putting savings in a separate account that i would then draw upon and undo the savings. ive have a few grand to show for this and if it cost me $1.25 a month to do so thats something i can live with.

i get that people dont want to pay a fee but i cant invest $10 a week through my brokerage account (min spend $500)

They are confirmed to shill here even though we have unanimously agreed that their product is shit.

>>1647201
Here's a shill.

>>1647377

not a shill, just giving my opinion. idgaf if you use it or not. my experience with it has been positive.
seeing how every second thread on here is cunts moaning about how they dont have any money or crypto shills harping on about the next p&d i thought i would give my experience with this product that has allowed me to save some decent money to actually invest with.

>>1647369
>my gains and reinvested dividends are much greater that the $15 a year fee
That's great, but they'd be even more without paying $15. You know that, right?

>than 2 years just putting savings in a separate account
I said investing, not saving. We all know you're making more than a savings account would pay you.

>i cant invest $10 a week through my brokerage account (min spend $500)
Are you claiming your brokerage won't accept contributions to an established account if they don't total $500? This is difficult to believe; that's suicide from a business perspective.

Are you sure you're not just a developer/shill?
Because to be honest, that's what it sounds like.

>>1647564

>That's great, but they'd be even more without paying $15. You know that, right?
yeah, $15 more

>I said investing, not saving. We all know you're making more than a savings account would pay you.
exactly, so minus the fee my rate of return is still better than a bank

>Are you claiming your brokerage won't accept contributions to an established account if they don't total $500? This is difficult to believe; that's suicide from a business perspective.
i might not have been clear enough here...i mean in order to invest through my trading platform its a min $500 spend +$20 brokerage fee. with acorns i can invest what ever i want when ever i want with no brokerage. unless you think of the monthly fee as brokerage.

im done here...i wasnt trying to get into a debate, simply offer my opinion based on my experience. how many people here shit talking have used the app for more than a month?

>>1647588
>yeah, $15 more
That's more. Making light of the amount doesn't make it less, or a smart play at all.

>still better than a bank
But as stated, we're not talking about a bank, but investing. And the fact remains, you can duplicate these results without a fee.

>in order to invest through my trading platform its a min $500 spend +$20 brokerage fee
That's laughable. Most people don't use a trading platform, or have any sort of fee structure remotely resembling this. In fact, most can transfer small amounts to their brokerage whenever they wish. It sounds like you're simply justifying paying someone to do this for you in order to justify your inaction.

>im done here...i wasnt trying to get into a debate
Says the guy with more posts than anyone in the thread. Either you're a simple shill, or someone unable to defend their argument. Either way, have fun paying someone to make your investment decisions for you, it sounds like you're convinced that's the right strategy.

>>1647650
He's definitely a shill. Notice how in his first post he implied that anyone who doesn't use Acorns is a retard who only chases cryptocoins; this is marketing.
He also tells people they should put hundreds of dollars in over 6 months to "try it out."

Besides that, if he was investing $10/wk for 10 months he'd only have about $400 invested; $15 is a significant proportion of that.
Even if you put in $100/mo, you'd be paying a 1% "management" fee for the first year. You'd be better off saving up and buying into an index fund once every month or so.

>>1647662
Yeah, you're probably right.
I just want him to admit either that, or that he's one of the developers.
Always the official icon, too. As if someone looking for honest opinions would just have that lying around.

>>1647717
Do we have any traffic estimates on /biz/? I always wonder why people shill here so hard, it feels like a generally small audience and a less gullible one than they would fine elsewhere.

so whats better as a savings account, this shit or a bunch of ETFs on robinhood? this shit is free for people under 24 apprently

>>1647730
I'm guessing it's because they figure the posters here care marginally more about making money than the average person (who can't even be bothered to save/invest).

this thread is posted once a month and you have the same fucking shills every time