In response to
"wasn't that the community Obamanizer group that laundered pimp's money?"
by
suspicious Fox Viewer
|
*sigh* I knew someone would try to tie this to PizzaGate ...
|
If I recall correctly, no initial investment is required. The basic mechanism is a "round up" savings account: you attach a credit or debit card (or multiple cards if you want) and the extra change from purchases is invested. So, if you buy something for $4.59, the purchase is rounded up to $5 and the 41 cents is added to your account.
You can add in funds if you want. So, for example, I've been putting in another $25 a month (in addition to round ups), plus any found money I come across (like my tax refunds) to save up for purchasing stuff for the house.
They also have partnerships with retailers -- which I need to take advantage of. For example, Macy's will contribute 5% of purchases to your Acorns fund, and Uber contributes 50 cents per ride.
|
Responses:
|