Follow up on Acorns

Investing
#1

I found a thread about Acorns from about a year ago and wanted to ask a follow-up question. I started using the Acorns app and adding $20/mo toward the end of 2017. I’ve been on the $1/month plan, but they’re getting rid of it soon.

Starting in September, the base plan is $3/month. This isn’t a huge fee on its own, but when I’m only putting about $25/month (including my round-ups), it doesn’t look as attractive. I don’t have a large amount in there ($2188), but I’m wondering if it would be better to move this to a brokerage account at Vanguard (where my Roth is).

#2

Yep, that’s what I would do. $3 out of $25 is over a 10% fee! Ouch! It would be better to invest MORE, there’s not really any benefit to acorns other than the round up thing. I’d personally go with Vanguard and set up an automated contribution. All that money should be going into your Roth before you max it out anyway! :slight_smile:

#3

Thank you. Just closed it so I can send the money to Vanguard (and set aside a little for taxes since I’m selling my shares to close the account).

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