5 Best Of Apps Like Acorns Reddit Best Resolution Image. It will ask you questions about your income, net worth and risk tolerance to determine what kind of investments to choose for you. I plan to continue using all three as a part of my savings strategy.
Acorns will literally allow you to invest your “spare change.” you do this by connecting your mobile phone to your bank accounts and credit cards, and the application will automatically invest your change. You pay $1 per month for account balances less than $5,000, and 0.25% per year once your account reaches this threshold. Roboadvisors like wealthfront and betterment offer low fees and will manage your investments—taking all your guesswork out of the process.
Both of these apps are aimed at millennials, although it’s never too late in life to start investing.
I’m not saying there’s anything really wrong with acorns or betterment, but they do different things. Portfolios range from conservative to aggressive. Acorns will literally allow you to invest your “spare change.” you do this by connecting your mobile phone to your bank accounts and credit cards, and the application will automatically invest your change. While this shouldn’t be your primary investing platform, it can be an excellent side hustle that helps you build a small nest egg without realizing money is being taken out of your checking account.
