I’ve posted about Acorns previously. Acorns is an investing app that round up your daily purchases and automatically invests the ‘change’ into a diversified portfolio of ETFs. Acorns makes it cheaper to invest, but it’s not free. It will cost you $1 per month for accounts under $5,000, or 0.25% per year for accounts over $5,000. Individuals under 24 years of age and those attending college pay no fees.You can read more about the app here. They also have a ‘Found Money’ rewards program that works like a cashback portal, but the cash back is invested instead. Now there’s a new Acorns $1,000 referral bonus.
Signup & Referral Bonus
Acorns has a $5 signup bonus. If you’re interested, you can sign up here with my referral link.
But what makes it even better this month, is that they are also offering a $1,000 bonus when 12 friends you invite, start investing in February. That’s in addition to the $5 per referral that you normally earn. Plus if you’ll be pleased to know that they will also plant an oak tree with OneTreePlanted for each new friend you invite. That’s a great referral bonus, but you only get it if you reach the number of 12 referrals. Otherwise, it’s just $5 per referral.
- Friends must sign up on or after 2/01/2018, have an account in good standing and make their first investment by 2/28/2018.
- Bonuses are paid out by 3/15/2018.
- Referrals who close their account before 3/15/2018, or make an investment that results in a chargeback, will not qualify for the promotion.
The app is an easy way to get into investing and it costs just $1 per month if your account balance is less than $5,000. I have had an account for almost a year and so far returns have been decent. I have a market gain of 15.4% (down to 12%) and total gain after fees of 12.58% (down to 9% after the last few days). Although not a great rate, it is better than I expected with these type of apps.
If you plan to go for the $1K bonus then it’s better to signup early in the month. That way you have enough time to refer 12 friends and family members. You do get the $5 bonus anyway for each person you refer, even if you don’t make it to 12.