5. Acorns review

Bottom Line

For the microsavings category, we think Acorns is the best service available.

Acorns is a good start if you want to invest with little money or need a nudge to start investing without affecting your lifestyle. And with Acorns adding a checking account, retirement accounts, and custodial accounts, it’s becoming even more appealing in recent years.

However, we think Betterment is a better option for larger deposit amounts with lower annual fees. In response to Acorns’ microsavings service, Betterment has SmartDeposit, automating investing once your bank account is above a specified dollar amount. However, nothing is stopping you from using both services to boost your savings rate.

Ultimately, most individuals don’t save enough for a rainy day, and Acorns will help start you down this path.

Leave a Reply

Your email address will not be published. Required fields are marked *