My Acorns Update: MADE IT TO $1,500!

Monroe Mann

Published On: Dec 24, 2024

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Name: Monroe Mann Break Diving Level: Level 1 Number of Certified Dives: 15 From: United States In: United States

Monroe Mann is the founder of MonroeMannFinancialPlan.com

[Originally posted in September 2018]

As promised, here is another of my Acorn Investment App updates. What started at $0 in August 2017, and then went to $75, then surpassed $500 in winter of 2017 is now at $1515.38 on September 2, 2018!  We’re on the way to $2,000!

My hope in April was to get to $1,750 by August, but I haven’t been spending as much lately, so the amount of roundups inevitably dropped.  I also reduced the weekly contribution to put more money into Stockpile and Robinhood, where I am slowly but surely becoming better at buying and selling at the right times.

So, my revised next target is $2,000 by Christmas.

I’ll keep my earlier target too of getting it to $10,000 by April 1, 2020.  That’s two years from now.  Bold, ambitious, and… I am going to work my butt off to make it happen.  How about you?

Note: Acorns now offers IRAs.  I have wanted to start one for years, and most IRAs require an initial investment of $1,000.  In the last ten years, I never felt comfortable putting $1,000 into something I wouldn’t see for decades, but now, I see things differently (perhaps because I am getting older).  Further, with the Acorns IRA, you can start with as little as you want.  Even $25.  I’ve started small, and am adding $30/month.  I’m up to about $130 now.  A modest beginning, but, a beginning, and I am excited to increase that monthly amount in the years to come.  By law, I can put in a max of about $5,500 per year, so my target is to eventually raise the monthly contribution to $500/month, which would max it out.

In other investment news, the Break Diving Endowment Fund now has over $500 in it!  It’s really coming along!  Do you want to help us reach $1,000?  Please make a contribution!

-Monroe

P.S. – As I mention in each of these posts, it’s important to know that I don't only keep my money in Acorns.  My entire ‘portfolio’ consists of: index funds (via Acorns), individual stocks (via RobinHood & Stockpile), treasury bonds, bills, notes, and savings bonds (via TreasuryDirect.gov), Whole & Term Life insurance (via NY Life), and regular cash savings accounts (CapitalOne360.com, formerly INGdirect, and Chase).  In order, from safest to more risky: Cash savings, NY Life accumulated cash value, US Treasury bonds, index funds, then individual stocks.  I also now regularly use the amazing budgeting app called You Need a Budget, which makes a lot of sense and has already resulted in me using my money more wisely.  I intend to write a full article on this soon!

P.P.S. – You can read all of my Acorns posts from the beginning on this blog.

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