Apr 24, 2017

Mindless Investing Made Easy

Have you ever seen Superman III where Richard Pryor's character came up with a computer program to rip off the company he worked for by rounding up company transactions to the nearest penny and sticking those fractions of cents in a bank account? They did the same thing in Office Space. Well, imagine doing something similar to that for yourself, but with your own money. Sounds weird? Well stay with me, it will all make sense!

I discovered an app that in essence does this for you, but instead of fractions of a penny, it's fractions of a dollar. Once you sign up, this app rounds up transactions on every purchase you make to the nearest dollar and takes that difference and invests it in a diversified portfolio! You don't even have to think about it!

Still not making sense? Let me give you an example. Let's say you go to the grocery store, and buy $123.48 worth of groceries with your debit card. This app will then round that up to $124.00, and take that $0.52 and invest it in the stock market for you! After a while, that money can add up to thousands of dollars, and you don't even have to think about it!

This app is called Acorns, and here is a video that can explain it better than I can:

If you've been looking for a way to get into the stock market, but didn't know where to start, then you might give Acorns a try. It's ridiculously easy to setup, and you don't have to be a finance major to figure it out. Best of all, it's automated and you don't have to think about it!

Do you use Acorns? Do you like it? What do you like about it? Let us know in the comments!

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