Acorns Investing: Maximizing Partnership Benefits

Acorns is a micro-investing app that helps you save and invest your money. It offers different subscription tiers to cater to your financial needs. The app allows you to invest your spare change, as little as $5, at any time or on a recurring basis into a portfolio of ETFs. It also has a feature called Round-Ups® that rounds up any purchase made from a linked account, debit or credit card to the next dollar. Acorns offers a full suite of investing tools to help you reach your financial goals, no matter your life stage.

Acorns' investment accounts for kids

Acorns offers investment accounts for kids, called Acorns Early, which is a smart money app and debit card designed to help children learn about money and grow their money skills. The app is intended for children aged 6-18 and can be used anywhere that Mastercard® is accepted.

Acorns Early offers a range of features to help children manage their money, including allowance and chores tracking, savings accounts, and parental controls. Children can use the app to set savings goals and parents can receive real-time notifications when their children spend money, set spending limits, and block lost or stolen cards. The app also offers bite-sized financial lessons for kids and teens of all ages.

Acorns Early is included in the Acorns Gold subscription, which costs $12 per month. This subscription also includes Acorns Early Invest, a flexible investment account for kids with a 1% match, and Acorns Later, a retirement account with a 3% IRA match on new contributions.

Acorns Early accounts are SIPC-protected up to $500,000 and FDIC-insured up to $250,000 through a partner bank. The app also offers security features such as chip and PIN-protected transactions, instant card blocking, and zero liability protection by Mastercard®.

Acorns' retirement accounts

Acorns Later is a retirement account that allows you to access three types of Individual Retirement Accounts (IRAs) to save for retirement. You can start investing in your Acorns Later account with just $5, and you can also set up automatic recurring contributions.

IRAs are investment accounts designed for retirement savings, offering tax advantages and helping your money grow over time. They generally have more investment flexibility than 401(k)s but have lower contribution limits.

Acorns Later offers three types of IRAs:

• Roth IRA: You make contributions with after-tax money, which you can't deduct on your tax return. However, your funds will grow on a tax-free basis, and you can withdraw them tax-free in retirement as long as you are at least 59 1/2 years old and the account has been open for at least five years.
• Traditional IRA: This is a tax-advantaged investment account that allows you to save for retirement on a tax-deferred basis. Contributions can be tax-deductible in the year you make them if you meet certain criteria, but withdrawals in retirement, including your contributions and earnings, will be taxed as income.
• Simplified Employee Pension (SEP) IRA: This is a type of traditional IRA designed for small businesses and self-employed individuals. Only employers can contribute to this type of IRA, but employees can open a separate IRA for their contributions.

Acorns Later accounts are SIPC-protected up to $500,000, although this does not protect against market risk. Additionally, with a Gold subscription, Acorns will boost your retirement savings with a 3% IRA match on new contributions to your Acorns Later account.

Acorns' checking accounts

Acorns is an online-only investment platform that helps you save and invest. It is not a bank, but it offers a legitimate checking account through its partner banks, Lincoln Savings Bank and NBKC Bank.

Acorns has three subscription plans, and all offer the Acorns Checking Account. The account is FDIC-insured for up to $250,000 and has no minimum balance requirements. It has no overdraft fees and gives access to 55,0000+ free ATMs through the Allpoint network.

The checking account has several unique features that help you invest. For example, when you make a purchase with your debit card, Acorns rounds your purchase up to the nearest dollar and invests your spare change. This is called the Real-Time Round-Ups® feature, and it is instant, so you can start earning compound interest faster.

The Acorns Checking Account is best for those who want to automatically save and invest spare change from regular purchases.

Acorns' cash-back rewards

Acorns offers cash-back rewards at over 450 retailers, including Apple and Walmart. You can earn bonus investments by shopping at thousands of top brands, including those you likely shop at anyway. There are 15,000+ offers from the brands you love.

You can make earnings automatic with the Earn extension. You can earn bonus investments while you browse and shop from your desktop or smartphone. You can also install the Earn Chrome and iOS Safari Browser Extensions to earn rewards when you shop online.

Most rewards are earned by shopping through the offers in the Earn section of the app. There are also some “Simply Spend” rewards that you automatically earn when you shop with a card linked to Acorns.

Acorns' subscription tiers

Acorns is a micro-investing app that offers three subscription plans with different features and benefits.

Acorns Bronze ($3/month)

The basic Acorns Bronze plan offers access to customised, diverse investment portfolios and banking features. With the Acorns Earn feature, you can earn bonus investments when you shop at over 450 partnered in-app brands. The plan also includes the Job Finder tool and educational videos and tips through the Acorns Learn platform.

Acorns Silver ($6/month)

Acorns Silver provides more investing and savings tools, such as an emergency fund, bonus Acorn matches (up to 25% of your contributions), and access to live expert Q&As.

Acorns Gold ($12/month)

Acorns Gold includes all the features of the Silver plan, plus access to Acorns Early custodial accounts and DIY stock investing. Acorns Gold offers bonus match investments of up to 50% of your contributions. This plan also includes educational courses, banking for kids, and a $10,000 life insurance policy.

All Acorns plans include banking features, IRAs, ESG portfolio opportunities, and Round-Ups.

Frequently asked questions