I’m as green as it gets when it comes to investing/saving, so I decided to dabble using the Acorns app. I like the interface and have read good reviews. Anyone here tried it?
Acorns app
- Thread starter Msubulldogfan1
- Start date
That’s it. You can deposit any amount you want though. I put in a hundo and some change to start. Made 40 cents in two days. I’m pretty much a stock broker now.
I decided against acorns and got Robinhood. There is no rounding transactions but it has no fees. If anyone is ever interested PM your email, I'll send you an invite and we will both get free stock.
I'm sorry you lost your arms in the war. You did grow a nice set of tits, though.*
Seriously though, I'm poor Loxley. Help a Merry Man out.*
I downloaded Robinhood but something didn’t work, like the account never fully setup up and it was in limbo.
I too just started Robinhood not too long ago. I’m young and just getting into investing and have enjoyed robinhood so far. I researched both but found robinhood had higher ratings on many websites. But I Would love to hear someone’s opinion on the pros and cons on both apps that’s has serious experience with them.
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Hmm. Thought acorn was the one that let's you register anyone to vote whether you actually talk to them or not.
If it gets you to save when you otherwise wouldn't, then that's a win. I'd suggest a better approach would be to set up an account at Vanguard or T Rowe Price and have a set amount automatically withdrawn each month, even if it's a small amount. But it's definitely better than nothing.
Since a lot of brokers have gone commission free on trades, I don’t know that Robinhood has any advantages.
It’s all really just a personal preference on which platform is easiest for you to navigate. TD Ameritrade has most vote because of its clean and easy to use interface. The mobile app is a different story.
It’s all really just a personal preference on which platform is easiest for you to navigate. TD Ameritrade has most vote because of its clean and easy to use interface. The mobile app is a different story.
So. I have used both for a couple of years. Acorns is a way to start saving and investing typically in with smaller sums of money that you almost don’t notice. There isn’t really any investment decision to be made. I actually don’t do the the round up anymore and just have specific amounts go in each week.
Robinhood is nice as there are no trading fees (many others have switched to that now) so you can buy one share of stock at a time.
If you want to learn to trade Robinhood is a great platform.. if you want a set it and forget it, Acorns is a great way to go..
I will say this, it is amazing how fast the roundups do add up and you can end up with a nice little nest egg pretty quickly.
Robinhood is nice as there are no trading fees (many others have switched to that now) so you can buy one share of stock at a time.
If you want to learn to trade Robinhood is a great platform.. if you want a set it and forget it, Acorns is a great way to go..
I will say this, it is amazing how fast the roundups do add up and you can end up with a nice little nest egg pretty quickly.
You don't need to begin your investing career in "dabbling" in individual stocks.
Start putting what you can into the S&P500 index since you're young and need to be aggressive. Study up on stocks you want to own for a while and watch how they trade before you start buying individual stocks.
Spinning charts and cool graphics and interfaces are nice to look at, but they won't make you any money.
If you are new to investing and are buying individual stocks, you are almost guaranteed to fail. You have to get experience investing or your emotions are going to be making decisions for you and that's a recipe for disaster.
Start out buying an index fund and study the market and you'll be much better off in the long run. I kinda like Cramer's general rule: Don't buy any individual stocks until you at least have $10k in an index fund"
ETA: The S&P500 returned nearly 30% last year. It takes no effort or high IQ to simply buy the index and get what the market returns, which on average should be around 10% or so. The market will humble a man really quickly or expose someone who lacks humility.
Start putting what you can into the S&P500 index since you're young and need to be aggressive. Study up on stocks you want to own for a while and watch how they trade before you start buying individual stocks.
Spinning charts and cool graphics and interfaces are nice to look at, but they won't make you any money.
If you are new to investing and are buying individual stocks, you are almost guaranteed to fail. You have to get experience investing or your emotions are going to be making decisions for you and that's a recipe for disaster.
Start out buying an index fund and study the market and you'll be much better off in the long run. I kinda like Cramer's general rule: Don't buy any individual stocks until you at least have $10k in an index fund"
ETA: The S&P500 returned nearly 30% last year. It takes no effort or high IQ to simply buy the index and get what the market returns, which on average should be around 10% or so. The market will humble a man really quickly or expose someone who lacks humility.
This is true. Stock trading is now a commoditized business. Schwab, Fidelity, etc they're all the same when it comes to being able to trade and access to research.
Okay you're good to go then brother!! Glad you're getting into investing. You'll be happy you did.
I think a good process is to invest in things that you know you spend money on or use daily. Especially after my work with google Facebook amazon twitter LinkedIn etc...
Verizon and other places that you spend a good amount with is another idea. If you are pretty familiar with the company and you see what all can be an upside - it beats random investment.
Verizon and other places that you spend a good amount with is another idea. If you are pretty familiar with the company and you see what all can be an upside - it beats random investment.
Got a free share of Visa from this worth $203 at the time.
Basically a free $200 just for signing up.
Wow. You got lucky. I'm happy you were able to get a sizable stock out of signing up.
I think I saw it was like a 1 in 200/300 chance to get a stock of that value. Did you get yours
I do this with my "play" account, and it works better than anything else I've done on individual stocks. I'm a research professor who deals with giant data files. Back in the early 90's when I had just started buying a few stocks, the ZIP drives showed up, and it was a game changer for lots of people needing to transport and backup big data, so I bought IOMEGA in 95 and sold it so I could move to my new job in July of 96 - %1700 percent increase. a few years later I started noticing that more and more of my students were skipping the bookstore and finding used books online. The students found that the easiest and most comprehensive seller was Amazon, so I bought some about a year after their IPO. I still have that, and it is truly insane. i got roped in to teaching a grad course in data visualization for the business school's new data analytics program about 6 years ago because every idiot was yakking about "big data" I looked around for a software format and found Tableau, which worked really well and was simple enough for even business majors to use, so I bought some of that and rode it up till they were acquired this year. I've missed on a few, but it makes a lot of sense to use your own expertise in a field to pick a few individual stocks as small supplements to an index fund portfolio.
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