Acorns App Review: Will It Really Help You Reach Your Savings Goals?

See if Acorns is the best investment app for you.

Investing in the stock market can feel overwhelming, particularly for millennials. A survey conducted by Ally Invest found that 70 percent of individuals between the ages of 18 to 39 experience stress related to financial insecurity. Factors such as the cost of investments and not knowing how to start the process contribute to feelings of anxiety about investing in the stock market or share market.

Fortunately, there are a lot of investment apps, like Acorns, to help alleviate these fears.

Keep reading to learn about the Acorns app and see if it’s the right investment tool for you.

What Is the Acorns App?

Acorns is an automated investment app targeted at newbies and passive investors looking for low-cost investing. Low management fees and a simple investment platform are just some of the reasons Acorns has turned 2 million users into investors.

With Acorns, you can schedule recurring or one-time investments, but its distinguishing factor is “round-ups.” Round-ups work by linking your debit and credit cards to your Acorn’s account. Each purchase is rounded to the nearest dollar and the spare change is automatically invested in your account.

Acorns has a selection of portfolios, each made up of different exchange-traded funds (ETFs), across 7,000 stocks and bonds. From penny stocks to Fortune 500 companies, every cent invested is diversified over your portfolio. When choosing a portfolio with Acorns, you determine the risk-return ratio based on conservative, moderate or aggressive investing goals.

Save for Your Future
Sponsors of

Acorns is a trusted investment app and secures your personal information with 256-bit encryption. It is also a member of the Secure Investor Protection Corporation (SIPC), which protects each investor up to $500,000 in securities.

What Are the Monthly Fees?

With just a $1 monthly management fee, Acorns shines as an extremely low-cost option compared to other brokerages which often come with high maintenance fees, making it ideal for new investors. The monthly fee becomes an annual fee of 0.25 percent of your account balance when you have $5,000 or more invested. Additionally, students with a valid .edu email receive free management for four years after their sign-up date.

What Is Found Money?

If shopping is your passion, take advantage of it with Acorns’ Found Money feature. Earn extra cash towards investments by purchasing products from partnered companies. Companies like Nike, Macy’s and Groupon will invest a portion of your purchase back into your Acorns account.

Advantages and Disadvantages of Acorns App


  • Low minimum investment: You only need $5 to start investing.
  • Low management fee: Pay as little as $1/month, and it’s free for college students with a .edu address.
  • Hands-off investing: Benefit from automated investments developed with input from Nobel Prize-winning economist, Dr. Harry Markowitz.


  • Limited investment choices: You can only choose from five portfolios, compared to competitors like Stash which offers a larger selection of ETFs along with individual stocks, or Robinhood which allows you to invest in individual stocks.
  • No retirement investment option: As of right now, Acorns does not offer retirement savings investments.

While it’s easy to get caught up in the idea of turning a dollar into millions, the speed at which you see returns is dependent on an array of factors including how often you choose to contribute money, the overall aggressiveness of your portfolio and the performance of the market.

Up Next: The First Step in Investing Your Money

Related Video

About the Author

Laurel Funk

Laurel Jacketti Funk is an entrepreneur and freelance writer originally from Northeastern Pennsylvania now living outside NYC.  Laurel graduated at the top of her business class from the Pennsylvania State University, earning a B.S. in business administration, focusing on marketing and management.

Read More

Acorns App Review: Will It Really Help You Reach Your Savings Goals?
Close popup livericher_png

We're here to help you Live Richer.

Sign up to receive our daily weekday newsletter with the latest finance and lifestyle content.

Please enter an email.
Please enter a valid email address.
There was an unknown error. Please try again later.

For our full Privacy Policy, click here.