robjoshParticipantStatus: PhysicianPosts: 2Joined: 03/01/2019
I have been using Acorns app for nearly 2 years and love it so far. Just wanted to hear everyone’s thought about it.
I think the fee structure is harsh on people with low balance ($1 per month) but if you once you have 1000-2000 dollars then the fee is negligible (0.1%). I have the money in an aggressive portfolio which consist of
40% large company stock
20percent small company stock
10 percent emerging market
10 percent real estate
20 percent international
They have other less aggressive options available if need with more bond mix.
They usually use low-cost Vanguard ETFs.
2 best features that I like are
1. Daily investing (I set 100 dollars to be invested into my acorn account every day so a big chunk of money is not leaving my account at once
2. Auto re-balancing. I never felt comfortable in re-balancing my portfolio so I am glad to pay 12 dollars per year to do that. I think its saves time too.
I know the app was built for Millenials in mind to invest pennies and dimes in mind but so far my experience is great with nearly 100K invested with them. One feature they don’t have is tax-loss harvesting but back in Dec 2018, I did tax-loss harvesting in my vanguard account that I could claim for the next several years. They also have a cashback program where you can get money back if you purchase an item via their website.
Just wanted to hear everyone else’s experience with them.September 9, 2019 at 10:58 am MST #244920PhantasosParticipantStatus: PhysicianPosts: 86Joined: 01/06/2016
Please don’t tell me you have 1000 tax lots.
"The problem with internet quotes is that you can't always depend on their accuracy" - Abraham Lincoln, 1864CordMcNallyParticipantStatus: PhysicianPosts: 2805Joined: 01/03/2017
Haven’t some of those apps messed up their tax loss harvesting with the ridiculous amounts of rebalancing that they do?
“But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”
― Benjamin Graham, The Intelligent InvestorSeptember 9, 2019 at 11:44 am MST #244934