Welcome to my first ever post to document my progress with the acorns investments app. I will try to post monthly so people can get an average idea of the returns I am getting with it. I have had a lot of fun with the application and am somewhat addicted to it now.
I started investing shortly after finding out about the Acorns Application from an ad I received while browsing Reddit. I researched the app heavily of course before putting any money into an account, but was unable to find anything negative about the app. The only issue that I found people complaining about, was the fact that there was a $1 fee per month to use it. I did not care much for this since I planned to invest enough money ($3000+). This would at least return more than the $12 fee per year.
I started off really slow at first only putting in $100 to see how everything worked and how long it took for acorns to purchase stock as well as starting out with a mildly conservative portfolio. Eventually, I started slowly getting more and more comfortable with Acorns and decided to start putting in $200 increments every week. This worked out really well especially since the market was on a decline. Eventually, I changed to an aggressive portfolio since I decided I will be keeping the money in the account for longer and will ride out any dips in the market. This ended up being a mistake… because when you switch portfolios basically Acorns sells your stock then re buys them to match your portfolio. I had a little loss here but eventually started to see more returns once the market started to go back up again.
Present Day – 7/25/2019
Currently have over $8000 in my account from depositing $30 a day without even having to think about it. This is the nice part about Acorns, it makes saving money so easy! Without this app I doubt I would have this much saved up. Because of this, I think the $1 fee that acorns charges is well worth it! Here is a picture showing my current balance and gains up to this point:
As you can see I have currently a 4.55% return which is much better than you would get from a normal savings account. Even though I changed my portfolio midway throughout (and at a dumb time) I am still in the positive. There is also another benefit from owning stocks which come in the form of dividends. Dividends are quarterly payments that are given out to stockholders from a company. Up to this point I have made $65 from dividends which equates to roughly 0.8% of what I have invested. Granted this is not that much, but is just a little added bonus to owning company stocks. These dividends are also then automatically reinvested into purchasing more stocks which is compounding. I will be putting out monthly updates on this progress for anyone interested in following. Click here to see more of my acorns progress over the months!