NEWPORT BEACH, Calif., July 8, 2015 /PRNewswire/ -- Acorns, the leading investment app that automatically invests the change from debit and credit card purchases, announces today that investing with Acorns is free for students between the ages of 18 and 23.
Acorns enables anyone to invest in the stock market by removing the barriers that prevent people from getting started, such as account minimums. With nearly one in five Acorns users under the age of 23, Acorns is making it easier than ever to start investing now for those who stretch their dollars the furthest. The app is free to download for all Acorns Investors and starting today Acorns is waiving the monthly fee for students.
"We understand that students carry great financial burdens, and Acorns wants to ensure there is nothing holding people back from investing," said Acorns co-founder and CEO Jeff Cruttenden. "I founded Acorns because starting to save money as early as possible sets a path toward long-term financial health. We're committed to giving young people the opportunity to grow their investments with Acorns and changing their perception of investing from complicated and inaccessible to simple and essential."
The power of compounding interest means the earlier you invest, the more you stand to gain in the future. Business Insider created a helpful visual on the difference between starting to save at 25 vs. 35. Now imagine the impact if you start saving at 18, even if it's simply rounding up your purchases and investing the change. Time is on your side: when you start the path to a lifetime of investing now, small efforts will blossom into big results.
All Acorns users can get started with as little as $5, and by connecting a debit or credit card to an account Investors can invest spare change automatically from everyday purchases into a diversified portfolio.
About Acorns Grow Inc.
Acorns is the largest and fastest growing investment app that allows people to round up their daily purchases and automatically Invest the Change® into a commission-free diversified portfolio of index funds offered by the world's top asset managers. Founded in Newport Beach, CA in February 2012, by father and son team Jeff and Walter Cruttenden, Acorns takes the guesswork out of investing and provides a simple entry-point for anyone to get started using the Acorns app on iPhone or Android. The app and financial engine were built with natural human behavior in mind to help inspire realistic investment strategies that can be held for the long term. Customers accumulate fractional shares and automatically invest and save into a portfolio constructed by world-renowned Nobel Laureate economist Dr. Harry Markowitz. Acorns' smart portfolio algorithms automatically work behind the scenes, helping people build wealth naturally, pennies at a time. From Acorns mighty oaks do grow!
Acorns Grow Inc. (d/b/a/Acorns) is the parent of Acorns Securities LLC, a member of FINRA and SIPC, and Acorns Advisers LLC, an SEC registered investment adviser.
This is not an offer or a solicitation to buy or sell securities. Investing involves risk. Investments are not FDIC or NCUA insured. Projections are hypothetical in nature. Brokerage services are provided to Acorns Advisers LLC by Acorns Securities LLC, member of FINRA/SIPC.