Tindering your Investments

Greetings from Paris! I couldn’t wait to post this because of how exciting it is, so I decided to go ahead and post while backpacking through Europe, and of course, stopping at the best macaron bakery in the world! (Yes, I am bringing home ten for the gf)


After 2008, people have been scared of words like “invest” and “stock.” Millennials are the biggest victims of this because many of their parents have put the wrong information in their heads on how investments actually work.

I won’t give you stats on how many millennials aren’t investing or how much “gain” is being lost by being out of the market, but what if I told you there was a way to start investing your money in the stock market with just $5? What if I also told you that there would be no fee’s or commissions involved besides a $1 per month charge on accounts under $5,000 and .25% per year charge after that? Lastly, what if I told you that you could automatically contribute a few cents to this account everyday without having to do anything? Ok no more what if’s, this is the real deal people, and it is revolutionizing the way millennials invest. It is called Acorns and according to CNN, people are comparing this to Tinder, except the investments aren’t photoshopped and they aren’t looking for your phone number.

According to Mashable, the company was started by the father and son duo of Walter and Jeff Cruttenden to provide millennials a way to invest money without any hassles or heavy transaction fees. Acorns also takes the investment picking off your hands. The Acorns app, which is available for iPhone and Android, allows you to connect your bank account and credit card while doing “round up’s” on everyday purchases. For example, if you bought milk today for $2.25, Acorns will track $.75. Once the total reaches $5, Acorns will pull the money out of your bank account and invest it into a personalized portfolio. You have several options on how to keep investing from automatically investing round ups to making lump sum deposits.

Where is my money invested? Acorns provides six different types of Exchange-Traded Funds in which your funds are invested based on your profile. Investopedia defines ETF’s as a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. In human terms, ETF’s are an easy way to get into the market with low costs and diversification. Though Acorns is doing all of the work for you, I highly encourage everyone using the app to educate yourself on what ETF’s are and how they work. This will help you understand where and how your money is invested.

What if I want to take my money out? There is no withdrawal or termination fee. You can take your money out at any time.

How do I sign up?

1. Download the app on your phone or tablet.

2. Create an account. You will be required to provide some personal information as this is considered a brokerage account, but don’t worry, your information is safe and secure. You will link a checking account and/or a credit card where your round ups will be calculated. Acorns will also recommend a portfolio that will go with your timeline. You will have the option of making it more or less aggressive.

3. Start investing!

In April 2015, Acorns announced that it’s 650,000 users had saved a combined $25 million dollars! Acorns is obviously a hit among millennials as most of their users are under the age of 35. Acorns has made it easier and more affordable than ever to invest your money. You don’t have to have a plan or a large amount to invest, just start!

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