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but they charge a fee on top :) it's small, but it basically abstracts away the underlying investment vehicles. it causes Acorns to be a blackbox. "welp, I don
by MuffinFlavored 7y ago
but they charge a fee on top :) it's small, but it basically abstracts away the underlying investment vehicles. it causes Acorns to be a blackbox.
"welp, I don't know where my money is going, it's just going into the Acorns! They handle it all for me!"
- elamje 7y agoI don’t mind it. Personally I find that it gives an incredible amount of dollar cost averaging, since as little as $5 gets invested at a time. All transaction fees are included with the $1-$2 a month. Additionally it’s not a black box because you get to select from 5 options that explicitly show the exact allocation and which ETF it goes to. To each his own, but I find that it takes away a lot of the psychological thought of investing in a cost effective way. But the $1-2 a month can end up being a large fee if you don’t have more than $10 or $20k invested.