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Acorns Review

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1 Minute Review

Acorns can help you roll your pennies into crisp hundreds with automatic savings, rounding up on purchases and inexpensive set-it-and-forget-it portfolio management. Integrate your checking, savings, investment and retirement accounts into 1 financial hub on your smartphone.

Best For

  • Newer investors looking to leave the heavy pulling to a robo-advisor
  • Regular debit card users who want to save change automatically
  • Families building wealth
  • Prepping for future investing

Pros

  • Inexpensive subscription cost at each tier
  • Smart, intuitive automatic investing strategies that utilize your spare change without leaving you cash broke
  • Retirement accounts like IRAs and 401(k)s available for investment and management, which isn’t always the case with robo-advisors
  • Heavy metal debit card (maybe not the most important factor but still pretty cool)

Cons

  • No direct relationship with a financial advisor or certified financial planner
  • No socially-responsible investing portfolio model
securely through Acorns's website

Overview of Acorns

Acorns has the perfect metaphor for its personal financial philosophy: take the acorns you have now and plant them to grow a strong oak. 

Using integrated financial accounts, automatic savings and investing and family-wealth oriented strategies, Acorns will help you grow whatever you have now into greater, more secure wealth — all while providing valuable insight and financial know-how.

With a fun, easy-to-use app and integrated accounts, Acorns is your digital financial control panel that uses smart auto-saving and investing technology to help you stack cash using your spare change.

Acorns Services

Acorns features 4 different options for you to use your change wisely. 

Acorns Invest

  • A microinvesting account that invests your leftover change from purchases into fractional shares in a well-diversified portfolio

Acorns Later

  • Get recommendations for a solid IRA plan. Acorns makes regular, automated investments to meet your retirement goals.

Acorns Spend

  • A personal account with built-in saving and investing tools, allowing you to easily toggle between your checking, investment and retirement accounts
  • Comes with a heavy metal debit card with an engraved signature
  • Offers direct deposit, check sending and mobile check deposit
  • 50,000+ free ATMs globally
  • Bonus investments when you earn from purchases
  • Smart Deposit to set aside a percentage of each deposit for saving

Acorns Early

  • Automatically included with Acorns Family, Acorns Early is an investment account for your kids that comes with your checking, investment and retirement accounts
  • Add as many kids as you’d like for no extra charge
  • Savings and bonus investments from your kids’ favorite brands like Disney+ and ABC Mouse
  • Family-friendly financial literacy tools
  • Flexible account you can transfer from easily

Acorns also offers a useful feature called Earn or the Earn Money Google Chrome Extension. This earns you money back from brands and companies when you link a card attached to your Acorns Invest or Spend account. 

Earn also connects you with available jobs and gig work that can add some extra oomph to your monthly income. You’ll get $5 towards investments for every friend you refer that signs up for Acorns from your invite.

You’ll also find a wealth of financial education resources with Grow from Acorns. This is a portal into the most up-to-date news, insights, analysis and general know-how for all things money, covering topics like saving, investing, earning, spending and borrowing.

Account Minimums

Acorns doesn’t set account minimums for its checking, savings or investment accounts, so you don’t need to worry about keeping a certain balance no matter which accounts you’re using. 

Acorns Fee Structures and Pricing

Acorns is available at 3 monthly subscription tiers. The Personal account covers the bases for an individual, although the Family subscription goes the distance for people with kids along with extra perks for the adults.

  • Lite: $1 per month
    • Investment account included
    • Utilize Round-Ups to invest change
    • Earn bonus investments
    • Financial education
  • Personal: $3 per month
    • Investment, checking and retirement accounts included
    • Same savings and investing features included with Lite
    • Tax advantages
    • Updates regularly
  • Family: $5 per month
    • Investment, retirement, checking and kids investment accounts included
    • All the above features included
    • Exclusive bonus investments
    • Family financial advice

For Acorns Invest, there are no trade fees and it will only cost you your monthly subscription fee until you reach $1 million in invested assets. 

How to Open an Acorns Account

Acorns brings strategic investment and integrated personal finances to the people — anyone can use its platform and benefit from it. Signing up for Acorns is easy from their website or through the Acorns app. It typically takes less than 3 minutes before you’re set up and ready to go.

Visit Acorns here to download the app. Or look up Acorns in the Apple App store or Google Play to get started today.

Acorns Investment Style

With help from renowned economist Dr. Harry Markowitz, Acorns combines new technology and old guard financial knowledge to bring you an innovative investment strategy. It will round up the spare change on your purchases and make automatic investments with backing of its partnerships with long-established investment management companies like Vanguard and BlackRock. 

You can make automatic investments at regular intervals, like daily, weekly and monthly. With every purchase made, your spare change gets automatically invested with Rounds-Ups. Acorns invests your money in exchange-traded funds (ETFs) made up of stock or bonds. 

With a focus on high diversification, your money is divided among a roster of asset classes:

  • Real estate
  • Government bonds
  • Large companies
  • Small companies
  • Emerging markets
  • Corporate bonds

The ETFs in your portfolio each stand for 1 of these asset classes. Acorns takes each dollar you put into your portfolio and diversifies it, distilling it into fractional shares of over 7,000 stocks and bonds. As the market shifts, dynamic auto-rebalancing adjusts your portfolio as needed.

You can choose from several portfolio models based on your investment goals and tolerance for risk.

Portfolio Models

  • Conservative
  • Grow your wealth safely over time, focusing on minimizing risk and retaining liquidity. 
  • Your portfolio will be 40% short term government bonds, 40% ultra short term corporate bonds and 20% ultra short term government bonds.
  • Moderately Conservative 
  • While keeping a focus on minimizing risk, let up a bit on liquidity, aiming for potentially larger returns but keeping a slow, steady growth pace. 
  • Your portfolio will be 24% large company stocks, 4% medium company stocks, 12% international company stocks and 60% government and corporate.
  • Moderate 
  • More evenly split between growth-focused stocks and risk-minimizing bonds, this portfolio aims to spur higher returns while still protecting your income from market volatility. 
  • Your portfolio model will be 35% large company stocks, 5% medium company stocks, 2% small company stocks, 18% international company stock and 40% government and corporate bonds.
  • Moderately Aggressive
  •  Focus less on minimizing risk to focus on higher returns by primarily investing in large company stocks, a reliable choice. Aim for even higher returns with a risk cushion by splitting the remaining allocation between riskier stock types and safer government and corporate bonds. 
  • Your portfolio model will be 47% large company stocks, 6% medium company stocks, 3% small company stocks, 24% international company stocks and 20% government and corporate bonds. 
  • Aggressive
  • Go all out with stock-only allocation, looking to maximize growth. This is for investors who can tolerate high risk and low liquidity, aka you can stand to let go of your invested money for longer periods of time and can tolerate losses and market volatility. 
  • Your portfolio will be 55% large company stocks, 10% medium company stocks, 5% small company stocks and 30% international company stocks. 

Acorns Overall Rating

If you’re looking for a stress-free, relaxed approach to investment, Acorns can do it for you. You can set your integrated Acorns Spend, Invest and Later accounts to your preferred automatic savings and investment settings. 

From there, let it do its thing. Your portfolio will auto-rebalance with market shifts to keep you on track to meet your financial goals. 

Acorns is great for chill investors, families and people who don’t want to worry about keeping minimum balances or tracking hidden fees. Download the Acorns app to get started today.