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#26 2016-01-28 02:46:02

trew
Silver Stacker
From: Melbern
Registered: 2011-08-24
Posts: 3,958
Trades :   

Re: Acorns- An App That Invests Your Spare Change

House wrote:

Find me one person that would take 10 cents here and there from daily transactions, save it and then put it into stocks... It's simply the spare change jar for the 21st century.

It's all marketing BS

If they advertised 'give us $100 per month and we'll invest it in stocks for you', people would think it's boring and they can't afford $100 per month.

But call it 'rounding up' and 'invest the change' and it sounds funky and new age and people think they won't miss a few cents here and there,
even though the reality is exactly the same as the first version.


I guess if you just want to invest a small amount in a stock index then it's an easy way to do it with minimal fees

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#27 2016-01-28 03:56:00

willrocks
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From: Yesterday
Registered: 2012-05-10
Posts: 7,628
Trades :   29 

Re: Acorns- An App That Invests Your Spare Change

scrooged wrote:
BuggedOut wrote:

Perhaps....

....but, how many people really use electronic payment for a $2.40 coffee (serious question)
.

I could save $365+ pa if I could find a $2.40 coffee.

Or waste $876 pa. Have you ever tasted a $2.40 coffee.


"You can ignore reality, but you cannot ignore the consequences of ignoring reality." - Ayn Rand

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#28 2016-01-30 18:08:46

Evolution
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From: Geelong, Vic
Registered: 2011-02-23
Posts: 207
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Re: Acorns- An App That Invests Your Spare Change

Well I for one am giving this a go. And it's not because I'm too stupid or ill-disciplined to save properly, I already do that anyway, this is just another way for me to invest my money.

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#29 2016-04-30 22:48:57

mmm....shiney!
Silver Stacker
From: 昆士蘭
Registered: 2010-11-15
Posts: 15,893
Trades :   102 
Website

Re: Acorns- An App That Invests Your Spare Change

Bonus code, if you join using this link you get a bonus and I get a bonus:

https://app.acornsau.com.au/invite/E47XCN


The woolgrower's target shall be the good thriving of his flock and its pastures, and so of himself and those whose livelihoods depend on his enterprise.
"The Woolgrower's Companion", 1906.

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#30 2016-04-30 23:05:12

HoldMeTender
Silver Stacker
From: Nunya
Registered: 2016-01-06
Posts: 945
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Re: Acorns- An App That Invests Your Spare Change

mmm....shiney! wrote:

Bonus code, if you join using this link you get a bonus and I get a bonus:

https://app.acornsau.com.au/invite/E47XCN

No no use my bonus code!!!11!

Oh hang on I'm not a spammer tongue


All that glitters is not gold...
...but all that is gold glitters!

Windbag in Spandex

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#31 2016-04-30 23:21:21

ego2spare
Member
From: Australia
Registered: 2013-06-01
Posts: 1,698
Trades :   30 

Re: Acorns- An App That Invests Your Spare Change

mmm....shiney! wrote:

Bonus code, if you join using this link you get a bonus and I get a bonus:

https://app.acornsau.com.au/invite/E47XCN

Making one now, what bonus do i get, usingyour code?


There were more millionaires created during the Great Depression than any other time in history.

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#32 2016-04-30 23:30:26

mmm....shiney!
Silver Stacker
From: 昆士蘭
Registered: 2010-11-15
Posts: 15,893
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Re: Acorns- An App That Invests Your Spare Change

ego2spare wrote:
mmm....shiney! wrote:

Bonus code, if you join using this link you get a bonus and I get a bonus:

https://app.acornsau.com.au/invite/E47XCN

Making one now, what bonus do i get, usingyour code?

Not sure, it just says "cash".  smile


The woolgrower's target shall be the good thriving of his flock and its pastures, and so of himself and those whose livelihoods depend on his enterprise.
"The Woolgrower's Companion", 1906.

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#33 2016-04-30 23:37:06

ego2spare
Member
From: Australia
Registered: 2013-06-01
Posts: 1,698
Trades :   30 

Re: Acorns- An App That Invests Your Spare Change

mmm....shiney! wrote:
ego2spare wrote:
mmm....shiney! wrote:

Bonus code, if you join using this link you get a bonus and I get a bonus:

https://app.acornsau.com.au/invite/E47XCN

Making one now, what bonus do i get, usingyour code?

Not sure, it just says "cash".  smile

big_smile SOLD! .. i wouldnt want it to say anything different. (Maybe puppies)
Using your code.


There were more millionaires created during the Great Depression than any other time in history.

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#34 2016-04-30 23:51:40

mmm....shiney!
Silver Stacker
From: 昆士蘭
Registered: 2010-11-15
Posts: 15,893
Trades :   102 
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Re: Acorns- An App That Invests Your Spare Change

I'll let you know what my bonus was when I see it.  wink


The woolgrower's target shall be the good thriving of his flock and its pastures, and so of himself and those whose livelihoods depend on his enterprise.
"The Woolgrower's Companion", 1906.

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#35 2016-05-01 08:27:24

errol43
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From: Bundaberg
Registered: 2010-04-13
Posts: 6,324
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Re: Acorns- An App That Invests Your Spare Change

Now what happens when the cup of coffee is $3.25...Old way, open your change pocket in wallet , get the .25cents and hand it over with your $5 note and get $2 change...New way you pay $4 for you coffee so the price of your coffee has increase nearly 20%..


Now when you get home you put the $2 coin in your future silver fund jar. smile


I will never let anyone have any of my fiat to invest in fiat. smile

Regards Errol 43

*I just play the monopoly game with fiat. If you get fined $29 do you say to the banker, keep the change when tendering $30? smile

Last edited by errol43 (2016-05-01 08:28:14)

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#36 2016-05-01 18:28:16

mmm....shiney!
Silver Stacker
From: 昆士蘭
Registered: 2010-11-15
Posts: 15,893
Trades :   102 
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Re: Acorns- An App That Invests Your Spare Change

errol43 wrote:

Now what happens when the cup of coffee is $3.25...Old way, open your change pocket in wallet , get the .25cents and hand it over with your $5 note and get $2 change...New way you pay $4 for you coffee so the price of your coffee has increase nearly 20%..


Now when you get home you put the $2 coin in your future silver fund jar. smile


I will never let anyone have any of my fiat to invest in fiat. smile

Regards Errol 43

*I just play the monopoly game with fiat. If you get fined $29 do you say to the banker, keep the change when tendering $30? smile

I think I follow what you mean. hmm

Old way: coffee is $3.25, you pay $5.25 for the coffee and put the $2 into your piggy bank, the coffee has not cost you $5.25 as you have saved the $2 coin, but you are out-of-pocket $5.25. The money in your piggy bank accrues no interest nor any dividend, but at the same time it costs you nothing to hold in fees and charges except opportunity costs.

New way: coffee is $3.25, you pay $3.25 for the coffee and another 0.75c is debited from your funding account into your Acorns account. The coffee has not cost you any more than before, you have saved the 0.75c (at any time you can transfer another $1.25 into your Acorns account to match the $2 under the old way), but you are out-of-pocket $4. The money in your Acorns account accrues interest (dividends), but at the same time it costs you fees to hold, these fees of course are tax deductible against any capital gain once you realise your capital.

Best way: use a piggy bank for all of the change from your cash transactions, use Acorns for all of the "change" from your electronic transactions.


The woolgrower's target shall be the good thriving of his flock and its pastures, and so of himself and those whose livelihoods depend on his enterprise.
"The Woolgrower's Companion", 1906.

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#37 2016-05-17 03:39:56

mmm....shiney!
Silver Stacker
From: 昆士蘭
Registered: 2010-11-15
Posts: 15,893
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Re: Acorns- An App That Invests Your Spare Change

@ego2spare, looks like we'll get $2.50 each. I haven't seen it yet but the offer ends on the 31st of this month so we probably won't see it in our accounts until next month.


The woolgrower's target shall be the good thriving of his flock and its pastures, and so of himself and those whose livelihoods depend on his enterprise.
"The Woolgrower's Companion", 1906.

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#38 2016-05-18 04:30:40

col0016
Member
From: Australia, Melbourne
Registered: 2011-01-04
Posts: 2,649
Trades :   20 

Re: Acorns- An App That Invests Your Spare Change

mmm....shiney! wrote:

@ego2spare, looks like we'll get $2.50 each. I haven't seen it yet but the offer ends on the 31st of this month so we probably won't see it in our accounts until next month.

Accounts?! Is it actually running now?

I was under 100th in line and haven't been notified hmm

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#39 2016-05-18 05:12:26

HoldMeTender
Silver Stacker
From: Nunya
Registered: 2016-01-06
Posts: 945
Trades :   14 

Re: Acorns- An App That Invests Your Spare Change

col0016 wrote:

Accounts?! Is it actually running now?

I was under 100th in line and haven't been notified hmm

Yeah mate it's been a go for a while.  Just download the App and go from there.


All that glitters is not gold...
...but all that is gold glitters!

Windbag in Spandex

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#40 2016-05-19 08:23:34

col0016
Member
From: Australia, Melbourne
Registered: 2011-01-04
Posts: 2,649
Trades :   20 

Re: Acorns- An App That Invests Your Spare Change

Question for you all:

I have $1000 per month I could invest without feeling it. Would this or a general market tracking thing be better?

If I'm expecting a GFC2 would it be better to hold off and by at a discount?

Last edited by col0016 (2016-05-19 08:23:59)

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#41 2016-05-19 18:15:23

mmm....shiney!
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From: 昆士蘭
Registered: 2010-11-15
Posts: 15,893
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Re: Acorns- An App That Invests Your Spare Change

col0016 wrote:

Question for you all:

I have $1000 per month I could invest without feeling it. Would this or a general market tracking thing be better?

If I'm expecting a GFC2 would it be better to hold off and by at a discount?

Can't answer your specific question, but if you do go with Acorns, you won't be investing just $1000/month but also all of the "round-ups" associated with your spending/banking habits. Not that I think you'd notice if you can save $1000/month comfortably - it's more noticeable for those who say they can afford to put aside $50/month as a direct deposit into their Acorns account, but then they end up investing an extra $30 - $40 that they hadn't budgeted for.


The woolgrower's target shall be the good thriving of his flock and its pastures, and so of himself and those whose livelihoods depend on his enterprise.
"The Woolgrower's Companion", 1906.

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#42 2016-05-19 20:20:43

ego2spare
Member
From: Australia
Registered: 2013-06-01
Posts: 1,698
Trades :   30 

Re: Acorns- An App That Invests Your Spare Change

My only concern with the app is that its just an app. Apps come and go. This could be a very long term thing for some people. Its pretty new so whos to know if it will last. Then getting your potentially thousands of dollar out before that happens.. or trying to get it back after it folds


There were more millionaires created during the Great Depression than any other time in history.

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#43 2016-05-19 20:21:55

mmm....shiney!
Silver Stacker
From: 昆士蘭
Registered: 2010-11-15
Posts: 15,893
Trades :   102 
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Re: Acorns- An App That Invests Your Spare Change

Behind the App is a registered business though, don't know if that helps. hmm


The woolgrower's target shall be the good thriving of his flock and its pastures, and so of himself and those whose livelihoods depend on his enterprise.
"The Woolgrower's Companion", 1906.

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#44 2016-05-19 20:32:17

ego2spare
Member
From: Australia
Registered: 2013-06-01
Posts: 1,698
Trades :   30 

Re: Acorns- An App That Invests Your Spare Change

Im gona say...that is somewhat helps lol

Has anyone tried to withdraw back to their bank account yet? Just as a test or something? Are their fees to do that?


There were more millionaires created during the Great Depression than any other time in history.

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#45 2016-05-20 00:46:09

col0016
Member
From: Australia, Melbourne
Registered: 2011-01-04
Posts: 2,649
Trades :   20 

Re: Acorns- An App That Invests Your Spare Change

mmm....shiney! wrote:
col0016 wrote:

Question for you all:

I have $1000 per month I could invest without feeling it. Would this or a general market tracking thing be better?

If I'm expecting a GFC2 would it be better to hold off and by at a discount?

Can't answer your specific question, but if you do go with Acorns, you won't be investing just $1000/month but also all of the "round-ups" associated with your spending/banking habits. Not that I think you'd notice if you can save $1000/month comfortably - it's more noticeable for those who say they can afford to put aside $50/month as a direct deposit into their Acorns account, but then they end up investing an extra $30 - $40 that they hadn't budgeted for.

I pay 95% of stuff in cash, so that aspect of it doesn't appeal to me. The low entry costs are what do.

I just am not sure if I'd get higher returns on what they pick or something that just follows the market. Especially since most funds don't beat the market.

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#46 2016-05-20 01:19:21

ego2spare
Member
From: Australia
Registered: 2013-06-01
Posts: 1,698
Trades :   30 

Re: Acorns- An App That Invests Your Spare Change

col0016 wrote:
mmm....shiney! wrote:
col0016 wrote:

Question for you all:

I have $1000 per month I could invest without feeling it. Would this or a general market tracking thing be better?

If I'm expecting a GFC2 would it be better to hold off and by at a discount?

Can't answer your specific question, but if you do go with Acorns, you won't be investing just $1000/month but also all of the "round-ups" associated with your spending/banking habits. Not that I think you'd notice if you can save $1000/month comfortably - it's more noticeable for those who say they can afford to put aside $50/month as a direct deposit into their Acorns account, but then they end up investing an extra $30 - $40 that they hadn't budgeted for.

I pay 95% of stuff in cash, so that aspect of it doesn't appeal to me. The low entry costs are what do.

I just am not sure if I'd get higher returns on what they pick or something that just follows the market. Especially since most funds don't beat the market.

You could put away $1000 a month with out feeling it and all of your transactions are always cash??.....u dont need this little acorns thing col0016. Your doing just fine. just stick with the hustle. Keep doing what your doin wink


There were more millionaires created during the Great Depression than any other time in history.

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#47 2016-05-20 01:39:13

col0016
Member
From: Australia, Melbourne
Registered: 2011-01-04
Posts: 2,649
Trades :   20 

Re: Acorns- An App That Invests Your Spare Change

ego2spare wrote:
col0016 wrote:
mmm....shiney! wrote:

Can't answer your specific question, but if you do go with Acorns, you won't be investing just $1000/month but also all of the "round-ups" associated with your spending/banking habits. Not that I think you'd notice if you can save $1000/month comfortably - it's more noticeable for those who say they can afford to put aside $50/month as a direct deposit into their Acorns account, but then they end up investing an extra $30 - $40 that they hadn't budgeted for.

I pay 95% of stuff in cash, so that aspect of it doesn't appeal to me. The low entry costs are what do.

I just am not sure if I'd get higher returns on what they pick or something that just follows the market. Especially since most funds don't beat the market.

You could put away $1000 a month with out feeling it and all of your transactions are always cash??.....u dont need this little acorns thing col0016. Your doing just fine. just stick with the hustle. Keep doing what your doin wink

But I want to start investing...
This is my first year working a "real" job. I'm too busy to use my money for fun, so I want to start putting it to work for me. I think I'd probably be getting like 2% in the bank?

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#48 2016-05-21 05:03:50

mmm....shiney!
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From: 昆士蘭
Registered: 2010-11-15
Posts: 15,893
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Re: Acorns- An App That Invests Your Spare Change

After some advice, how does the fees charged by Acorns compare to other managed fund operators?

Acorns is completely free to download. Once an account is opened, there are no fees on $0 balances and after that we only charge $1.25 per month for accounts with a balance under $5,000 and 0.275% per year (charged monthly, computed daily), for accounts with a balance of $5,000 and over. For more information on our fees, including our Fee Estimator, please visit the PDS on our website.


The woolgrower's target shall be the good thriving of his flock and its pastures, and so of himself and those whose livelihoods depend on his enterprise.
"The Woolgrower's Companion", 1906.

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#49 2016-05-21 22:41:24

aleks
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From: Karl-Marx-Allee
Registered: 2010-10-14
Posts: 2,392
Trades :   27 

Re: Acorns- An App That Invests Your Spare Change

Shiney, at face value it appears to be cheap compared to a vanguard retail fund which is 0.9%pa but as to what you will be effectively be charged everything considered, who knows?

If I understand correctly:
0.27% acorns fee + ETF fees 0.07% to 0.6% + netting fee? =?

Automatic Rebalancing
Acorns automatically rebalances your Acorns Investment Account when you deposit or withdraw money, or after a market move occurs that causes your Acorns Investment Account allocation to deviate by 5% or more from your Selected Portfolio target allocation. This keeps your Acorns Investment Account in line with the target allocation of your Selected Portfolio. We don't charge any fees for rebalancing and no brokerage fees are payable (see Transaction Costs on page 24 for an explanation of applicable buy/sell spreads)

Netting Policy
Trading within the Fund is conducted at a pooled level. This means that each day, we assess the net trading requirements of the entire Fund, and trade ETF Units on this basis. For example, if one Investor is withdrawing funds from their Acorns Investment Account such that, for example, three units in the SPDR S&P/ASX 200 ETF are required to be sold, at the same time another Investor is contributing funds to their Acorns Investment Account such that three units in the SPDR S&P/ASX 200 ETF are required to be purchased, Acorns instead will simply transfer those three units from the first Investor to the second Investor, without incurring any brokerage cost. If there is an exact netting of transactions between Acorns Investment Accounts, the netted transactions are priced with reference to the mid-point of the ASX closing bid/offer spread for those same ETFs (see Netting Spread on page 25 for more information). Transactions that occur on-market are priced as traded.

Netting Spread
Where the acquisition or disposal of ETF Units on behalf of Investors does not require a transaction on-market (due to the netting of transactions), we may apply a buy/sell spread (Netting Spread). The Netting Spread will be determined with reference to the mid-point of the last market bid/offer spread for the same ETF Units, and will be equal to or less than the market bid/offer spread or 0.50% (whichever is smaller). The Netting Spread allows the Issuer not to charge any brokerage fees.

Underlying Issuer Fees
The Issuer of ETF Units held in an Acorns Investment Account may charge fees in relation to those ETF Units. Those fees will reduce the value of your Acorns Investment Account. For information on the fees charged by each Issuer, you should refer to the PDS for each ETF included within your Selected Portfolio. As at the date of this PDS the range of the Underlying Issuer Fees were 0.07% to 0.60% per annum on the amount invested with them.


col0016 the best investment you can make now is in answering your own question.

Last edited by aleks (2016-05-22 00:43:14)


Only you have your best financial interest at heart, be your own guru

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#50 2016-05-22 18:09:59

mmm....shiney!
Silver Stacker
From: 昆士蘭
Registered: 2010-11-15
Posts: 15,893
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Re: Acorns- An App That Invests Your Spare Change

Just letting everyone know that the referrals bonus for opening a new acorns account is a permanent feature now, so if anyone is considering opening an account, bonus payments are available for new and existing users.  I'm an acorns user, and ego2spare has publicly stated he is, so if you're keen to open an account you should contact either one of us to get a bonus.

Any others that also want to let us know if you are an acorns member in order to take advantage of the bonus?


The woolgrower's target shall be the good thriving of his flock and its pastures, and so of himself and those whose livelihoods depend on his enterprise.
"The Woolgrower's Companion", 1906.

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