I have premium which is suppose to be $9 a month fee but since i have a direct deposit in their checking of at least $250(their minimum) they waive the fee. I pay zero a month to invest! And i also have their savings that pay 5% apy
The difference between instant round ups and the standard through an external account is that the standard method doesn’t invest the change until it adds up to $5. On the other hand, the instant round ups through Acorns checking invests the change right away.
Dayuuuuum. Another solid video Brendan. I always recommend acorns to beginners. But once they got their bearings on saving and investing I would recommend them to M1 (or SoFi). All my main banking is with SoFi and I really dig their investing side too, so that’s always another good place to move to.
Thanks! 🙏 Funny you mention SoFi, I’m working on a first look and then a review of them! (Might be a month before they are done so don’t hold your breath though!)
Been using Acorns since April of 2017. The ease of the service is just hard to beat. I suggest it to anyone asking how to get their foot in the door to investing. Came here to see if it would be worth upgrading to the $9/month plan for the individual stock purchase plan and think at this point I’m going to pass due to the lack of freedom of choice. Great video.
@@gary19631970 YTD +5.4%, 1Y 10.4%, 5Y 5.9%. My numbers may be slightly skewed as I pulled most of mine out this summer for a poor financial but amazing personal purchase… a boat 😂 I currently have Acorns set to 2x roundups and $100 weekly and am on the most aggressive plan +btc
Thanks Miguel! That’s awesome! If you want more… This one is meant to do that exact thing (I just made it a couple days ago) th-cam.com/video/V3kRrXsVYCQ/w-d-xo.htmlsi=apabDbE2gdMHpdzC
I started using acorns 2019 then forgot about it then at the beginning of the year I'm putting in a lot more. There are some features that I'm not to excited about like you can only get certain shares. I have started also with Ameritrade that have no fees but can't buy fraction shares and Charles Schwab is taking over in May but still satisfied with Acorns. At least it has gotten a foot in the door to invest and save 😊
nice video one thing you did forget to mention that if you direct deposit $250 or more a month into the acorns checking account they wave the subscription fees at this time
Good morning Brendan, hope all is well, I've been getting more and more into investing, I like to thank you personally for all these fantastic resources. I have 1 question for you? if I start to contribute to my later account with Acorns, how does my later money gets invested? do I have set another portfolio? or everything is combined? Thank you in advance.
Based on the Acorns FAQ page, it looks like they invest it based on your preferences and age: "Your Acorns Later portfolio is selected based on your age and the time until you reach age 69. Over time, Acorns adjusts your portfolio to help you stay on track toward your investment goals. For example, as you grow closer to retirement age, we may consider more conservative investments since your money may have less time in the market. In other words, we’ll automatically rebalance your portfolio as you age - all in the background of life!" Here's the link: www.acorns.com/later/
When u add a custom stock do you have to pay the full price of a share right out the gate or will whatever percentage of your portfolio is for that stock will it just go up accordingly? (I.e say i have 100 dollars there now and i want 20 of it in a stock thats 200 a share, so in the event they go up 50 dollars my portfolio goes up 5) is that possible with acorn?
I'm an expat living abroad and was looking into this app. Unfortunately you can't sign up for it without providing a US phone number. Do you know if there's a way around this?
What were the taxes like at the end of each year? I've never had a taxable broker account and I'm just curious how much I will owe based on what I invest. Very new to this so sorry if it's a dumb question lol.
Yeah it’s an important question! It totally depends on what you do while you invest, how often you buy and sell, and the rest of your tax situation. But since it’s Acorns you’re not day trading a bunch cuz it’s not possible. The very generalized and abbreviated answer is: you get taxed on profits you take. So if you have $10k invested and over the course of the year it increased in value by $1k, then you sell those investments to buy burritos and racecars, you might want to plan on getting taxed on that $1k profit. Of course consult your accountant or tax pro for a real answer.
@@BrendanEvan OK thank you! Always wanted to invest in stocks in some way but because of my lack of knowledge it always seemed so intimidating. Just seems so easy to lose money. I think Acorns might be the perfect way for my to dip my toe in the water with investing money. Great video btw, helped me out a lot in learning about this!
Great vid, I’m not sure if you went over this or not, but isn’t the fee monthly fee waived when you have direct deposit set up on the mighty oak card. And if so, how would that reflect in your overall score?
Yup! I don’t think it changes the score since I’m not convinced everyone is/should be depositing $250 per mo. I prefer my method of dropping in a little over $2k and having the interest cover the cost anyway 😆
Yes, that is correct. I have have a direct deposit of at least $250 a month, the fee is wavied. That's what I did and Acorns sent me an email confirming this.
I stay for the emergency account and the round ups…….Ive had my roundups set to 3x for so long I can’t remember😂Plus I’ve been putting in 300 bucks a month since 2015 when I first started the using the app. I don’t see myself not using the app
That’s good I just started to invest with acorns again I’m 26 I used a few years ago for a while but pulled my money and didn’t come back but I’m back to stay . How is your account looking now that’s gotta be decent return ? I am also starting with 300 a month to invest into acorns I will do aggressive account as well
I just signed up yesterday for this. I believe it’s $10 dollars weekly? I also picked the Gold application? I’m not very familiar with this app, after you sign up, they do all the work, for the most part for you, according to what you said to the questions they asked, correct?
Not sure what is $10 weekly, but that could be the amount you chose to invest on a recurring basis. The cost of the app is monthly. But yes once you answer the initial questions and link your bank it’s on autopilot which is very handy!
@@BrendanEvan Yes, I believe that’s exactly what it was. I gave them my bank account information, they asked a few questions, and at the end, it said success. Then I pressed done. It does take a few days to go through, correct?
If everyone was able to put the time and effort into researching some of these companies behind these stocks and use a little critical outside the box thinking skills mid/long term investing can be profitable.
The only value that differentiates them is the financial incentives set-up between parents and children. The rest are junk benefits. If I round up 62 cents 30 times per month that only comes to (0.62 x 30 x 12) $223 per year. That is appealing only for children saving & learning as they spend.
I had to look this up after seeing the comment and @StolenHandel is correct. Which got me thinking…. What about other investing brokerages? M1 Finance: F Vanguard Group: F Wealthfront: F Betterment: D- WeBull: not rated I don’t think the higher rated companies are always what I expected either: Ally bank: B- Fidelity Investments: A+ Robinhood: A- Interactive Brokers: A-
@@BrendanEvan Can you maybe do a video on this? I think this would make a great video! Plus I’m a beginner to all this investing stuff and I feel like could definitely help me gain some perspective on each platform. Pros/Con kinda thing. Thanks!
@@BrendanEvan if vanguard is an F, I wouldn’t consider the group rating the brokers, as reliable. Vanguard is probably the safest most reliable broker. I use Robinhood. I admit it’s not the greatest. I just like the User Interface and experience. But rating RH an A, and vanguard a “F” is insane to me.
Do you live in your own world? Acorns does just part of what you suggest and I think they will do fine attracting people..... Just having all stocks to choose from..... But just having a
Hello ., You can help us enter the acorns account again, we tried to do so, it does not allow us to call customer service and we have not received a response either.
I’ve been using them since 2014…the amount of features that’s been added since then is incredible.
@@cesarcharolet from 2014 to now how much money in round up have u put in and what has been the profit on it?
I have premium which is suppose to be $9 a month fee but since i have a direct deposit in their checking of at least $250(their minimum) they waive the fee. I pay zero a month to invest! And i also have their savings that pay 5% apy
That great information, thank you
Is that direct deposit from your other bank accounts, and is it per month?
@@CerebralFriction direct deposit from my employer every month
So you dont pay any fee monthly?
@@kristineb697 no
Real solid video. Great and informative.
You really make me pause the video and go subscribe before I even finish it!
Great Work!
The difference between instant round ups and the standard through an external account is that the standard method doesn’t invest the change until it adds up to $5. On the other hand, the instant round ups through Acorns checking invests the change right away.
Thank you for evaluating this. So appreciate your in depth analysis!
Dayuuuuum. Another solid video Brendan. I always recommend acorns to beginners. But once they got their bearings on saving and investing I would recommend them to M1 (or SoFi). All my main banking is with SoFi and I really dig their investing side too, so that’s always another good place to move to.
Thanks! 🙏
Funny you mention SoFi, I’m working on a first look and then a review of them! (Might be a month before they are done so don’t hold your breath though!)
@@BrendanEvan Heck yeah! Excited for it!
Been using Acorns since April of 2017. The ease of the service is just hard to beat. I suggest it to anyone asking how to get their foot in the door to investing. Came here to see if it would be worth upgrading to the $9/month plan for the individual stock purchase plan and think at this point I’m going to pass due to the lack of freedom of choice. Great video.
Thanks for checking it out! (P.S. I'm editing a dedicated Acorns Later review video now, so stay tuned for that!)
If u have at least $250 of direct deposit, monthly fee will be waived! I love using acorns
Can you give me an idea of a % you are making if you don’t mind?
@@gary19631970 YTD +5.4%, 1Y 10.4%, 5Y 5.9%. My numbers may be slightly skewed as I pulled most of mine out this summer for a poor financial but amazing personal purchase… a boat 😂 I currently have Acorns set to 2x roundups and $100 weekly and am on the most aggressive plan +btc
Can I transfer out of Acorns into another wallet for other investments?
Your videos have really helped me with improving my financial literacy, thank you very much!!!
Thanks Miguel! That’s awesome!
If you want more…
This one is meant to do that exact thing (I just made it a couple days ago) th-cam.com/video/V3kRrXsVYCQ/w-d-xo.htmlsi=apabDbE2gdMHpdzC
Thank you for this video! I have been using Acorns for about a year. I appreciate your insight.
I was planning to start on acorn account for just savings is it safe ???
I started using acorns 2019 then forgot about it then at the beginning of the year I'm putting in a lot more. There are some features that I'm not to excited about like you can only get certain shares. I have started also with Ameritrade that have no fees but can't buy fraction shares and Charles Schwab is taking over in May but still satisfied with Acorns. At least it has gotten a foot in the door to invest and save 😊
How much does it cost each month that's what I need to know
I'm still locked into the $1 a month thankfully. I mainly use it as a "loose change" jar with the round ups.
Hold fast to your $1/month!
Our daughter has go Henry and it’s amazing. She learning the benefit of saving, investing, making and spending money:) it’s amazing!
At what age you think it's good for them to get one?
nice video one thing you did forget to mention that if you direct deposit $250 or more a month into the acorns checking account they wave the subscription fees at this time
This is true
Doesnt accept my partial payment direct deposit. Tsk
Did you earn something after pulling out your money previously?
What protects them or makes them different from what is happening to yotta at the moment
Good morning Brendan, hope all is well, I've been getting more and more into investing, I like to thank you personally for all these fantastic resources. I have 1 question for you? if I start to contribute to my later account with Acorns, how does my later money gets invested? do I have set another portfolio? or everything is combined? Thank you in advance.
Based on the Acorns FAQ page, it looks like they invest it based on your preferences and age:
"Your Acorns Later portfolio is selected based on your age and the time until you reach age 69.
Over time, Acorns adjusts your portfolio to help you stay on track toward your investment goals. For example, as you grow closer to retirement age, we may consider more conservative investments since your money may have less time in the market.
In other words, we’ll automatically rebalance your portfolio as you age - all in the background of life!"
Here's the link: www.acorns.com/later/
Been a user since 2019 and it’s a must for sure.
You mentioned they have work at home income jobs I think?
Such a great video thank you so much man!!
Did you go full aggressive or moderate aggression
I’m full aggressive
I want someone to maje me a webull account pls 😢😢 its not available in my country
When u add a custom stock do you have to pay the full price of a share right out the gate or will whatever percentage of your portfolio is for that stock will it just go up accordingly? (I.e say i have 100 dollars there now and i want 20 of it in a stock thats 200 a share, so in the event they go up 50 dollars my portfolio goes up 5) is that possible with acorn?
The $9/month membership is definitely the best one and can be expensive but I have monthly direct deposit from my employer of $250 to waive that fee.
I'm an expat living abroad and was looking into this app. Unfortunately you can't sign up for it without providing a US phone number. Do you know if there's a way around this?
Have you reached out to Acorns support?
@@BrendanEvan I haven't. Don't want to draw attention to the profile I stated setting up in case this is an intentional road block in the system.
Dave has a side hustle job finder option also
What were the taxes like at the end of each year? I've never had a taxable broker account and I'm just curious how much I will owe based on what I invest. Very new to this so sorry if it's a dumb question lol.
Yeah it’s an important question!
It totally depends on what you do while you invest, how often you buy and sell, and the rest of your tax situation. But since it’s Acorns you’re not day trading a bunch cuz it’s not possible.
The very generalized and abbreviated answer is: you get taxed on profits you take. So if you have $10k invested and over the course of the year it increased in value by $1k, then you sell those investments to buy burritos and racecars, you might want to plan on getting taxed on that $1k profit. Of course consult your accountant or tax pro for a real answer.
@@BrendanEvan OK thank you! Always wanted to invest in stocks in some way but because of my lack of knowledge it always seemed so intimidating. Just seems so easy to lose money. I think Acorns might be the perfect way for my to dip my toe in the water with investing money. Great video btw, helped me out a lot in learning about this!
So can you give me an idea of your $ growth in % if you don’t mind me asking? I have the app but I haven’t done anything yet?
I can't withdraw what I have in my account.
How do I withdraw?
Contact acorns customer support! 👍
Great vid, I’m not sure if you went over this or not, but isn’t the fee monthly fee waived when you have direct deposit set up on the mighty oak card. And if so, how would that reflect in your overall score?
Yup! I don’t think it changes the score since I’m not convinced everyone is/should be depositing $250 per mo. I prefer my method of dropping in a little over $2k and having the interest cover the cost anyway 😆
Yes, that is correct. I have have a direct deposit of at least $250 a month, the fee is wavied. That's what I did and Acorns sent me an email confirming this.
Can I do the deposit by myself or does it have to be through the employer?
@@rufusade4294 I’d like to know the answer to this question as well
I stay for the emergency account and the round ups…….Ive had my roundups set to 3x for so long I can’t remember😂Plus I’ve been putting in 300 bucks a month since 2015 when I first started the using the app. I don’t see myself not using the app
That’s good I just started to invest with acorns again I’m 26 I used a few years ago for a while but pulled my money and didn’t come back but I’m back to stay . How is your account looking now that’s gotta be decent return ? I am also starting with 300 a month to invest into acorns I will do aggressive account as well
Are you in the green with them? Looking to get in myself $300 a month and round ups. Good luck
$300 a month since 2015 and we are about to enter 2025 have you made 32,400 or more?
For some reason acorn premium plan is $12 a month.
I just signed up yesterday for this. I believe it’s $10 dollars weekly? I also picked the Gold application? I’m not very familiar with this app, after you sign up, they do all the work, for the most part for you, according to what you said to the questions they asked, correct?
Not sure what is $10 weekly, but that could be the amount you chose to invest on a recurring basis. The cost of the app is monthly.
But yes once you answer the initial questions and link your bank it’s on autopilot which is very handy!
@@BrendanEvan Yes, I believe that’s exactly what it was. I gave them my bank account information, they asked a few questions, and at the end, it said success. Then I pressed done. It does take a few days to go through, correct?
Thank you very much 👍
@Mark-um3hm yes transfers happen pretty slowly but you’ve got the ball rolling now! Congrats!!
Thanks Brendan, appreciate the knowledge 👍
Another good feature with mighty oak, if you direct deposit 250 a month the $5/month is waived.
You inspired me to make this short proclaiming the free-ness to the world:
th-cam.com/users/shortsm9EwhEQqfIM?feature=share
Thank you
This isn't true for the $9 a month option?
You can just do direct deposit and not worry about the monthly payments
Direct deposit of $300 per month to the checking acct will waive the $9 member fee.
I believe its $250 per mo
If everyone was able to put the time and effort into researching some of these companies behind these stocks and use a little critical outside the box thinking skills mid/long term investing can be profitable.
Brendan, if you make an investing video for Acorns I have no doubt people will watch it.
Roundup does not work on credit card that’s why I left Acorns
Do they do a hard pull on your credit??
No
The only value that differentiates them is the financial incentives set-up between parents and children. The rest are junk benefits. If I round up 62 cents 30 times per month that only comes to (0.62 x 30 x 12) $223 per year. That is appealing only for children saving & learning as they spend.
Great video!
Thanks!
Did you start your video with randomly setting down an axe in your room?
Whaaaat
they moved the UGMA option from the $5 option to the $9 option? not worth it.
Not unless you get it for free: th-cam.com/users/shortsm9EwhEQqfIM?feature=share
You can still do the $1 monthly account, that has not changed.
I got grandfathered in to the $1 a month plan after I signed up in 2020. 😮💨
Don’t change a thing!
Still flat fees but already jumped to $3, $6, and $12 now lol
Acorns invests $1.00 for purchases on the even dollar. They figure no change, we’re going buck. 👍🏻✌🏻
13:29 is the reason why not to use this app
I really like the app.
I’m about transfer from to wealth front
They have an F on the better business Bureau...
this is the most underrated comment on here
I had to look this up after seeing the comment and @StolenHandel is correct.
Which got me thinking…. What about other investing brokerages?
M1 Finance: F
Vanguard Group: F
Wealthfront: F
Betterment: D-
WeBull: not rated
I don’t think the higher rated companies are always what I expected either:
Ally bank: B-
Fidelity Investments: A+
Robinhood: A-
Interactive Brokers: A-
@@BrendanEvan Can you maybe do a video on this? I think this would make a great video! Plus I’m a beginner to all this investing stuff and I feel like could definitely help me gain some perspective on each platform. Pros/Con kinda thing. Thanks!
@@BrendanEvan if vanguard is an F, I wouldn’t consider the group rating the brokers, as reliable. Vanguard is probably the safest most reliable broker. I use Robinhood. I admit it’s not the greatest. I just like the User Interface and experience. But rating RH an A, and vanguard a “F” is insane to me.
You should have developed acorns, the changes you’ve mentions are BIG ONES THAT WILL MAKE A MAJOR DIFFERENCES..
I'm still waiting on that job offer.....
Do you live in your own world? Acorns does just part of what you suggest and I think they will do fine attracting people..... Just having all stocks to choose from..... But just having a
Money *does* grow on trees
Why do they have the fucking rock advertising a credit card at 2:30 that's an immediate red flag that this isn't all that
It's not a red flag. Only for...... ppl like you.
Its the same like others screwing over customers
It is a scam!!!
....how??
Hello ., You can help us enter the acorns account again, we tried to do so, it does not allow us to call customer service and we have not received a response either.
I can’t. I don’t work for Acorns and can’t provide customer service. Also it’s probably illegal for me to have access to anyone’s account info.
😂
This is the same as stockpile and both suck!