Proverbs 21:5 The plans of the diligent lead to profit as surely as haste leads to poverty.
Investing Made Easy & Affordable with Acorns: The Biblical teachings of living within our means, not borrowing, and practicing frugality somehow fell by the wayside in recent decades during the era of easy credit. Now more and more people wish they had funds to invest or wish they knew where to start.
Dealing with investment firms often involves a fairly hefty investment price and trying to figure out which stocks and bonds to buy in your spare time with your spare change can be intimidating. That’s where Acorns comes in,
Acorns is sometimes seen as the way Millennials are investing by saving loose change with an automated savings tool. The app rounds up the odd change on your purchases to the next dollar on linked credit or debit cards. When the total of the change equals $5, it is then directed to a computer-managed investment portfolio.
But what about Baby Boomers and other generations who are nearing retirement or already in their golden years? Can Acorns work for them?
Certainly. Often it is retirees who don’t have a lot of money to invest and investing a little loose change every month has the potential to get them a little closer to a future purchase, trip or gift. And not only can Acorns’ investors earmark their loose change to investments, then can also ask Acorns to deduct an additional small amount from their card every month if they choose to increase their investment for potentially higher earnings– $5, $10, $20 or more.
Christian Activities publisher Kathryn Darden decided to try it earlier this month and has enjoyed her investing experience so far.
Acorns allows anyone on any income to invest small amounts and handles the portfolio. Clients answer a few questions that let the Acorns investment team know whether a conservative, moderate or aggressive portfolio would work best for each client.
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