Acorn investing is a service that can help you invest in stocks and bonds through automated investments. The company is based in Irvine, California and specializes in micro and robo-investing. In 2020, it expects to have 8.2 million users and $3 billion in assets under management. Although it is a relatively new service, many investors are already seeing success with it.
The downside of Acorn investing is that the investment is not risk-free. Although it offers a diversified portfolio, it does carry some risk. You should know what your investment goals are before investing in Acorns. In addition, you must remember that Acorns cannot guarantee the returns that you’ll see in your account. Instead, it uses a potential graph to estimate the returns of your investments. This graph shows the average returns, but you should always keep in mind that actual returns will vary.
Acorns also includes an app that teaches beginners the basics of investing and personal finance. To complement this investment app, the company launched an online magazine called Grow, which explores personal finance. The app has been gradually integrating content from Grow into its features. The articles are displayed on different screens within the app.
Acorns also offers a free account for college students with a.edu email address. During the first four years, you can invest for free. After that, you’ll only have to pay a small fee every month until you reach $1 million in account value.