# Acorns Investing App Review
Investing is one of the most rewarding ways to grow your wealth over time, but it can be overwhelming for many people. Acorns, a popular investment app, aims to make investing simple and accessible for everyone, regardless of their level of experience. In this review, we will explore the features of Acorns and see how it stacks up against other investment apps in the market.
## What is Acorns?
Acorns is an investment app that allows users to invest their spare change into a diversified portfolio of stocks and bonds. The app rounds up your purchases to the nearest dollar and invests the difference automatically. For example, if you spend $3.50 on a coffee, Acorns will round up to $4.00 and invest the extra $0.50 into your portfolio. Users can also set up recurring investments or make one-time deposits into their account.
## Features
### Portfolio Options
Acorns offers five different portfolio options ranging from conservative to aggressive. Each portfolio is made up of ETFs (exchange-traded funds) that include a mix of stocks and bonds. The portfolios are designed to be diversified, which helps to minimize risk and maximize returns.
### Round-Ups
Acorns’ round-up feature is the app’s main selling point. It allows users to invest their spare change automatically, without even thinking about it. This feature is especially useful for people who have a hard time saving money or don’t have a lot of extra cash to invest.
### Recurring Investments
Users can set up automatic recurring investments on a weekly or monthly basis. This is a great way to make investing a habit and ensure that you are consistently adding to your portfolio.
### Found Money
Acorns has partnered with over 350 brands to offer cashback rewards when users make purchases with their linked credit or debit cards. These rewards are deposited directly into the user’s Acorns account and can be invested just like the round-ups.
### Education
Acorns offers educational content to help users understand investing and make informed decisions about their portfolio. The app also has a feature called “Grow Magazine” that provides articles on personal finance, investing, and other related topics.
## Fees
Acorns charges a monthly fee based on the level of service you choose. The fees are as follows:
– Lite: $1/month
– Personal: $3/month
– Family: $5/month
The Lite plan includes only the round-up feature and an investment account. The Personal plan includes all of the features mentioned above, and the Family plan includes everything in the Personal plan plus investment accounts for children.
There are also underlying fees for the ETFs in your portfolio, which can range from 0.03% to 0.15% annually.
## Pros and Cons
### Pros
– Easy to use
– Automatic round-up feature
– Diversified portfolios
– Cashback rewards through Found Money
– Educational content
### Cons
– Monthly fees
– Limited investment options
– Underlying ETF fees
## FAQs
### Is Acorns safe?
Yes, Acorns is safe. The app uses bank-level security measures to protect user data and investments. Acorns also has SIPC (Securities Investor Protection Corporation) insurance, which protects users’ investments up to $500,000.
### How much money do I need to start investing with Acorns?
There is no minimum investment required to start using Acorns.
### Can I withdraw money from my Acorns account?
Yes, you can withdraw money from your Acorns account at any time. However, it may take a few business days for the funds to transfer to your bank account.
### How does Acorns compare to other investment apps?
Acorns is a great option for beginners or people who want to invest small amounts of money. However, it has limited investment options compared to other apps like Robinhood or TD Ameritrade. It also has slightly higher fees than some other investment apps.
### Is Acorns worth it?
Acorns can be worth it for people who have a hard time saving money or want to invest small amounts of money automatically. However, if you are looking for more control over your investments or want to invest larger amounts of money, you may want to consider other options.