It’s time for another Acorns Report!
The Acorns Experiment
I am running a 12 month experiment with Acorns where I will be investing $100 a month as a regular investment and also allowing it to do ’round-ups’ to invest the spare change from my spendings. Acorns has a standard monthly fee of $1.25 for account values under $5000 and my personal view is that it is an exorbitant fee that makes any investments under that threshold be better off done in a high-interest bank account.
However, instead of just pulling numbers out of thin air, let’s actually play with a live stock market and real cash.
You can read May’s Report here.
June wasn’t a great time for Acorns this month. I don’t know that much about patterns within the stock market currently as I am very young in my journey, but I wondered if the end of financial year had anything to do with it?
Hooray, I’ve made my first ever dividend income! 1 cent, I’m rich!
I’ve also realised that I really like the monthly statements that Acorns generates. It makes it very easy to see everything at a glance. That maintenance fee of $1.25 is still mocking me though, I cannot shake the niggling feeling that it’s absurdly high. I know it will get better as I put more and more money into Acorns but right now…
And just as a reminder, the portfolio I have opted for is the aggressive portfolio.
Which at this point seems to be aggressively dropping in value. Hah.
And that’s it for this month’s report. There’s not much I can add to it beyond the figures above. At this point, I wouldn’t be actively recommending Acorns as a micro-investing tool because I feel that it is folks like me with tiny bits of money in it that’s actually funding the company. However, it is still early days. If you feel like signing up for Acorns, here’s my referral link.
I guess that brings a big question to the forefront – is micro-investing actually worth it?