Acorns

Acorns is a micro-investing and robo-advisory app designed to help users invest their spare change and grow their wealth over time. Here are the key features and fees of Acorns:

1. Acorns Invest: This is a personal investment account that allows users to invest spare change through a feature called Round-Ups®, where purchases are rounded up to the nearest dollar and the difference is invested. Users can also set up Recurring Investments to automatically invest a specific amount regularly. Acorns Invest accounts are invested in diversified portfolios of ETFs, recommended based on the user’s financial goals and risk tolerance.
2. Acorns Later: Acorns offers retirement accounts, including IRAs (Individual Retirement Accounts), where users can start with as little as $5. These accounts benefit from potential tax advantages and are also invested in diversified portfolios.
3. Acorns Checking: An all-digital checking account that integrates investing directly with everyday spending. It offers features like automatic investment of a portion of every paycheck and no overdraft or minimum balance fees.
4. Acorns Early: An investment account for kids, which allows parents to invest for their children’s future. It offers potential tax advantages and the ability to invite friends and family to contribute.
5. Emergency Fund: A feature that enables automatic saving of a small piece of every paycheck to prepare for unexpected expenses.
6. Subscription Plans: Acorns bundles its products and services into subscription plans, offering different tiers (Acorns Personal, Acorns Personal Plus, and Acorns Premium) that cater to various needs and stages of financial growth.