Acorns is a great little investment app when used correctly. Remember there is a monthly fee of $1.25 for investments below $5,000 so make sure your investment is at least above the breakeven point. If we take an average return of investment for index funds lately, it is roughly:

Conservative: $542.25 Moderately Conservative: $464.41 Moderate: $435.32 Moderately Aggressive: $398.91 Aggressive: $357.57

These are just averages though, as ROI is ultimately dependent on market performance. I believe it is worth a try as the return has been around 7% so far since I started 6 months ago and I used the Aggressive strategy. Here is a free $2.50 credit (sometimes $5) if you decide to give Acorns a try - https://app.acornsau.com.au/invite/XQEMS9

Happy investing!

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This product is not really useful for balances under about $500 and preferably around $1000. On a balance of say $200 with a 5% return, the account will go backwards ie $15 fee, $10 earnings, say 1.5% inflation so after 12 months $200 will be worth around $94; so beware and keep funds in a term deposit until there is about $1000 to invest.

Further, Acorns will not supply historical returns on their various portfolios. This lacks transparency.

Having made these observations, I believe it is a good introductory product, but one should do due diligence before investing (as with any product).

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Thanks for sharing, really helpful.

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