by Dr. Monroe Mann, PhD, Esq, MBA, LLM, ME, EMT
Founder & Executive Director, Break Diving, Inc.
As promised, here is another of my Acorn Investment App updates. What started at $0 in August 2017, and then went to $75, and finally surpassed $300 is now nearly at $550! And all in less than four months.
Note: this is not all “gains”. Most of it is just me continually adding money to the account. As you can see from the photo, $303.32 of the recent increase resulted from about $48 of roundups, $20 from my recurring monthly investment, $235 (wow!) from random optional additions I’ve made every few days, and then $0.17 in dividends.
Since I am making about 20 cents every month in dividends from a total of about $500 invested, perhaps logically, once I get to about $2,500 total invested, I will be making about $1/month in dividends. In other words, the dividends themselves will start paying for the $1/month fee I owe Acorns for the service once I can get up to $2,500 (unless the dividends rise considerably of their own appreciation sooner). Though I also recall that once an account reaches $2,500, the $1/month fee is replaced with a very small percentage of total account value.
Does the account have any true gains? Yes! Since I started using this app, the account HAS seen gains. In fact, since I started, the account itself has had a $6.75 gain. In other words, in the last 4 months, the stocks in the index funds I’m invested in have increased in aggregate by nearly $7, or by 1.24%. 1.24% isn’t anything really to brag about, but it is indeed $7 I didn’t have back in August. 😀
Truly, what I love about Acorns is that:
a) I can easily add an extra $10, $25, $50, or $100 with the touch of a button.
b) If I don’t have the extra cash, no problem: as long as I continue to use my debit card, money is automatically being invested each week through the roundups.
c) And even if I don’t use my debit card, at the very least, $20/month will be invested, which I know I can afford, no matter what.
In other words, as I said before, as long as there is no major crash again, this is a no-brainer. In the last post, I thought I might surpass $750 by the end of the year. Now, however, I think it’s almost a certainty. We’ll certainly find out! And I think I will be at $2,500 by this time next year, and I hope, even more. Awesome!
More to come after Christmas! On that note, Merry Christmas!
P.S. – I just discovered that starting next year, Acorns will be offering retirement plans through the app as well. Pretty cool!
You can read all of my Acorns posts from the beginning by starting here: The beginning of my Acorns journey.
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