Innovative Technology of the Week: App that Invests Your Change in the Markets by Acorns
What would you do if you could constantly invest your everyday change in the markets? Acorns has made that possible by creating an app that takes your normal change and invests it in stocks.
Acorns calls this “micro-investing” and is introducing the risks and rewards of unconsciously investing this extra change in publicly traded securities.
“Acorns plans to release iPhone (AAPL) and Android apps in the second quarter of 2014; users would add their debit cards and credit cards and then answer questions to establish how risky or conservative they prefer their investment style to be. Then, in $5 increments, Acorns will begin siphoning the ‘change’ from their purchases into one of five investment portfolios.”
This new way of investing is aimed to reach people who do not already have an investment account. How would you like to make money on that change you never think about?