Author Topic: Acorn anyone?  (Read 2473 times)

SEAKSR

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Acorn anyone?
« on: March 31, 2017, 11:16:52 PM »
My cellphone, Google and Mint keep pushing this app at me... I'm wondering if anyone is using it? If so, awesome? Not so much?

en58

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Re: Acorn anyone?
« Reply #1 on: April 01, 2017, 06:28:17 AM »
I use it. It is ok, but it is high in fees. I know that it is only a dollar a month but if you are not putting in at least 100 a month (still a 1% fee) it is not worth it. it pretty much rolls all your purchases to the next dollar (like keep the change). It also lets you add any amount you want or recurring payments. If you make a lot of purchases in you debit or cc and put some extra it is ok. However, if you're going to put 100 dollars away reoccurring anyways you might as well put it in a Vanguard fund yourself (which is what Acorn does) and save the money.

SEAKSR

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Re: Acorn anyone?
« Reply #2 on: April 01, 2017, 09:59:12 AM »
Thanks for the once over. I hadn't decided, and truth be told I'll just stick with the auto save with my bank. I can roll that saving acct into extra investments at the end of the quarter.

Thank you!

dannymurphy

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Re: Acorn anyone?
« Reply #3 on: April 01, 2017, 04:33:31 PM »
It doesn't appear that mustachians are really the target audience of Acorn. It's more focused on getting people to save that aren't really thinking about doing so on theit own. Given there fees, you'd be better off just setting up a low recurring transfer into a fund.

marty998

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Re: Acorn anyone?
« Reply #4 on: April 01, 2017, 05:13:18 PM »
You really want to keep track of the tax cost base of 49c share parcels?

zazpowered

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Re: Acorn anyone?
« Reply #5 on: April 03, 2017, 12:03:18 PM »
I would just buy a lazy portfolios of ETFs at vanguard

FrugalFisherman10

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Re: Acorn anyone?
« Reply #6 on: February 01, 2018, 06:52:06 AM »
You really want to keep track of the tax cost base of 49c share parcels?
Is it really the case that you'd need to do that?

Can anyone back that up?

I have a friend trying to get me to try it, because if I do we both get $5, which means I get a 5 month free trial basically since it costs $1 month. I told him I don't think it's worth it for me, since that's a terribly high expense to be paying, on top of the expense ratios within the underlying funds. But he has a point that what if you were already maintaining some sort of 'perfect cashflow', i.e., you had very little cash on the sidelines at all times, and you wanted some way to invest these little bits of money by rounding up your spending.