Are you interested in investing to grow your money? Not got a lot of cash to invest and don’t know where to start? In this post we’ll explain what micro investing is and how it is a suitable investment option for almost anybody. We’ll also look at the best micro investing app to use to help grow your wealth for the future.

What Is Micro Investing?

Micro investing is the process of depositing and investing small sums of money in an investment account to grow your wealth. Many people would like to invest but a lot of investment platforms have minimum investment limits that are often too high. Depending on trading fees it is also usually not very cost effective to trade with very small amounts of money. This is where micro investing platforms come in. They allow customers to invest very small amounts of money, often just pennies. This makes investment accessible to everybody, not just the wealthy.

There are many investing platforms available that make it easy for customers to invest their money. We will look below at one of the best micro investing apps to use to grow your wealth.

Not interested in micro investing?Find the best alternative Trading And Investing Platforms

What Is The Best Micro Investing App?

When it comes to micro investing apps, Acorns is one of the most reputable and popular with over 9 million customers. It is a secure, easy to use, feature rich app offering saving and investment services. This is more than just an investment app, it is also an educational tool that will help grow your knowledge as well as your wealth.

Micro Investing For a Wealthier Future

Acorns App Features

The Acorns app has some great features that provide an all in one banking, investment and retirement account.

Investment

Investment is Acorns main feature. With something called Round-Ups you can automatically invest spare change from all your everyday purchases.

Answer a few questions to be matched to the right expert built diversified portfolio for you. These portfolios offer automatic re-balancing so all the hard work is done for you. You can even set up regular investing over daily, weekly or monthly recurrences.

Earn extra rewards and bonus investments when you shop at your favourite stores. In addition to this you will also gain access to quality financial educational content to improve your financial knowledge. If you prefer to conduct your own financial research you might like this Investment Research Platform For Traders.

How Is Your Money Invested?

When you deposit money into your Acorns Invest account it is invested into a portfolio of ETFs. ETFs are Exchange Traded Funds which aim to replicate the performance of an index or an asset class. These ETFs will comprise of holdings in thousands of stocks and bonds.

There are several different portfolios to select ranging from conservative to aggressive and everything in between. So you can choose a portfolio that is right for your risk tolerance. Each ETF has a full prospectus you can read on the Acorns website for further information.

Get started micro investing today for a wealthier future with Acorns.

Micro Investing For a Wealthier Future

Retirement

Acorns have a retirement account available called Later which offers an easy, automated way to save for retirement.

An IRA is an Individual Retirement Account and there are several different types. When you open an Acorns Later account, they will recommend an IRA type that is most suitable for you. And you can begin investing from just $5.

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Invest For Kids

Acorns Early is the investment account available to save and invest for your Kids. Acorns Early is a UTMA / UGMA account which means the funds can be used for anything that will benefit the child. The account is transferred to the child when they reach the age of transfer which varies by state. Want the best way to teach your children the value of money? View this blog post for more information; The Best Financial Education For Children

Banking

Acorns also offer all-digital personal checking accounts for all your every day finances. Use the built-in smart deposit feature to automatically invest money from your paycheck. If you don’t want to use it for banking then there are some great alternative rewards checking accounts with these banks.

Micro Investing For a Wealthier Future

Earning

Acorns Earn is another great feature that allows you to earn from shopping or even finding a job. There is a Chrome app to install that will highlight when any special bonus offers are available. This gives you the chance to earn bonus investment from over 12,000 brands.

Earn even more by referring friends to Acorns through the referral program. For every person you refer you each get a $5 bonus.

Educational

There is a great educational element to Acorns. Acorns are partnered with CNBC to give access to an online finance magazine called Grow. Find lots of articles covering topics from investing to taxes to insurance and more, designed to improve your financial knowledge.

crop faceless accountant using calculator while making budget

Acorns Plans

There are three Acorns plans available offering excellent value for money, allowing you to pick the best plan for your needs.

FeaturesLite
($1 per month)
Personal
($3 per month)
Family
($5 per month)
Investment AccountYesYesYes
Retirement AccountNoYesYes
Checking AccountNoYesYes
Kids Investment AccountNoNoYes

View more information on what each plan has to offer on Acorns.

Benefits Of Micro Investing With Acorns

The main benefits of Micro investing through the Acorns app are;

  • More accessible to a wider range of people than traditional investing platforms
  • Low costs – pay just 1 small monthly account fee. No trading costs or hidden fees
  • Quick, simple and easy to use through an app
  • Low minimum investment – suitable for people with less disposable income
  • Potentially better longer term returns than cash savings
  • Able to save tax efficiently for retirement
  • Save for your child’s future and add more children to the account in future
  • Educational platform to grow your knowledge as well as your wealth
  • Extra rewards and bonuses available
  • Earn more through referrals

Get started micro investing today for a wealthier future with Acorns.

Are you a more hands-on active trader or want more investment options? Find the best alternative Trading And Investing Platforms. View our blog for lots more investment articles including How Does Peer To Peer Lending Work?

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