Available to those paying Acorns’ most expensive tier, this is a UTMA/UGMA account, allowing parents to set up accounts for their children without dealing with sticky red tape. The cash back that you earn shopping on Earn is placed in your Acorns Invest account. An online marketplace that offers a small percentage back on purchases made at hundreds of major retailers, including Walmart. Another feature, called Smart Deposit, allows you to siphon money automatically from a direct deposit in your Acorns debit card account into other accounts, like Invest. A checking account that comes with a debit card and eschews many fees, such as minimum balance fees. All investing is for the long haul, whatever the goal. We found the Invest/Later nomenclature a bit confusing, since it’s not as if your Acorns Invest funds are meant for day-trading or immediate use. Like Acorns Invest, your portfolio is made up of ETFs. This is a tax-advantaged individual retirement account ( IRA). Setting up recurring contributions-Acorns lets users contribute as little as $5 at a time-is your best bet, taking advantage of dollar-cost averaging to build your portfolio. You may fund the account via round-ups, recurring deposits or on-demand deposits. This is a taxable investment account that puts your money into exchange-traded funds ( ETFs), chosen for you based on your risk tolerance and financial goals. Acorns offers users five main saving and investing products: Invest, Later, Debit, Earns and Early.
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