Don't get discouraged just because you can "only" invest like $100 per month. It can compound to tremendous wealth over the course of decades. The important thing is that you keep going!
I'm planning to invest $250,000 of my savings into the stock market to build an aggressive portfolio that will surppas millionbs on the long run. What are the best long/short term investment strategies to use to achieve this goal?
Exactly, why I stopped taking financial advise from UA-camrs, because in reality I end up with a collection of confusing stocks. Whereas, all I needed was a real market expert to have made over $350k in less than 2 years.
Don't ask random people on UA-cam. It will lead you nowhere. You can ask my specialist DIANA CASTEEL LYNCH or do your own research, nothing in between.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
the misunderstanding here is you dont have to just put in spare change, you can put in as much as you want into acorns. They also have roth IRA's you can contribute to. I'm maxing out my acorn roth IRA
@@PiLLO360 the shtick of acorns is the round up features, yes, but you can also have recurring investments of any size on the platform that could go either into the regular "brokerage" account or an IRA account (Roth or otherwise). Sure, if you only put in your spare change it won't make you rich, but it will be extra money. It is basically like having the jug full of change, but instead of it being on your dresser, the money is actually working in an index fund.
Problem with apps is they control when you buy/sell your investments. Example: your Gamestop stock is worth 1 million, you hit "Sell"... 2 days later, it's worth 200,000. 4 days later worth $2 again *your transaction has been processed*, $2 will be added to your bank account(minus capital gains tax). Meanwhile they owned the stock you thought u did, that's the easiest way to understand it if you don't (which you should delete the app asap)
@@chuck... she won't have "extra" to do it without the psychological thought of it only being extra because its the difference. She won't track purchases like that each time and add that to an account. She can invest in that separate. Saving both can only be good. It will keep her from making extra purchases she thinks is already in the budget.
My Acorns investment growth over the past year has been 35%. My only regret is I didn't have more to put in. Dave might wanna look into this a little more and revisit the topic.
Yeah I disagree with him I get quarterly bonuses from my company and I put the extra I get into acorns on top of the round ups and the weekly deposits and it’s been great for me I’m on the moderate growth potential plan for 20 plus years .
The fees are high if you have a small balance. Really investing isn’t as hard as it seems. It’s just intimidating at first. Most folks better off throwing that extra change into a broker account imo
Yeah I heard that as soon as he mentioned the coffee cup. Because I have the acorns card. Which gives max 5.00% APY. I've already got $2.50 in one month having $1k in it. I highly recommend! Same with upside
I’ve used acorns and I’ve had 8% return average in the past 4 yrs. if you put a weekly reoccurring investment then you get good returns. I’ve invested 80k and it’s gone to up to over 100k so that’s been good. Ramsey I like you but you are wrong on this one.
I think Ramsey is out of touch with these alternative ways of investing. I came directly to the comments to see what people who are using this app are saying. Thanks for sharing your experience!
You can tell he doesn’t know much about these apps, he’s become so far out of touch with the modern generation of adults investing. I think he needs to brush up on a lot of current ways people are saving. He’s been financially secure for so long, he has no idea what we’re up against in these times. Especially post Covid world, it’s awfully hard out there. Rent is insane and people need 3/4 roommates to even pay the bills!!! Jobs are getting away with letting people go that aren’t fully trained and perfect by 3 months. Unemployment/state programs are squeezing money back out of the poor people they just paid it to. It’s a very tough and different world out there. I think he needs to do some research about newer ways people are saving, it’s better to start small then do nothing at all!!!
hes insane, part of his baby steps is to pay for ur kids college because for some reason kids cant handle debt? but anyway if you put in 90$ a week into a acorns account for a kid from the day he was born to the day he was 18 you would have 277k with a 166k return on investment. hes to clueless to know acorns skips his baby step of paying for someone els college fund LOL, not to mention if used right, acorns can set ANYONE up for retirement, its what i bank on for self employment
@Frenzy yah there was some news a few months back now about in him having to leave the ramsey group, dang shame cause I kinda came to love his advice helped me a ton. was definitely my favorite of dave's hires
Hey Dave, although what you said is an aspect of Acorns, it is still useful. There are still a lot of people that are first or second generation that did not grow up learning about the investing.
@@janayewill3883 It’s obvious that R.O.I is not as much as other investments, however for those who know nothing about investing, it’s a great start. Does that answer your question?
I think Dave needs to do a little research on Acorns. I put 10,000 a year into acorns. That 6k in a Roth IRA and 4k into a regular account. Acorns has the same mutual funds/ETF that Dave Ramsey teaches and have performed extremely well with low expense ratio. This was a disservice to the lady.
Even if a home owners pays off their mortgage, they still won't own the home. Because in America, if you still don't pay your real estate taxes every year the state or county can foreclose on the home.
I have the Acorns app and I can tell you that opting out of the nickel and dime investments is an option and you can basically just invest a larger amount recurring. The dividends start out a few cents a month but as your balance grows so does your dividends. Now I invest just the minimum $5/mo and get $7.50/mo in dividends so now I'm making some money off of it even though it's not much it is a relatively profitable amount.
Here's the thing. I am people like me. And people like me wouldn't even be investing or even saving of it weren't for easy apps like Acorns. Not everyone is people like Dave. A lot of people are people me. (BTW this is why I don't like hearing the condescending comparisons. I'm only comparing me to the old me.) Gotta wonder why Dave doesn't encourage how to use a tool like Acorns properly. Nickels and dimes was a start. Then it wasn't enough. So I stepped it up, which you can do in Acorns. It's not a joke. It's better than I used to do. Now I'm debt free, and I have way more put away in various places than I have in my checking account, and it took a long time for me to even imagine something like that. I have a plan for growth. Thanks, apps like Acorns.
I’m usually for Dave but he is so wrong on this one. It’s funny that this is coming from a guy who preaches “every dollar should have a name” and “best way to invest is automated investing”. A dollar consists of 4 *chump changes* quarters. 4 everyday transaction and a dollar is put into an automated investing account without you even notice it. And no the fee is not $3/month that’s the highest tier if you go with the base tier it’s $1 a month. I had a total of $4500 contribution in my Acorn account since 2017 and it now worths almost $7000. Last year my “chump changes” totaling up to $450 (now worth $580) or $37.50 average every month automatically invested for me, that’s 37.50% contribution of the “$100 a month from age 20 to age 65 will make you a millionaire” talking point of Dave. I can’t believe Dave discourages Acorns it’s like the perfect piggy bank for the people that he wants to help.
@@soonermagic24 You are investing in ETFs with acorns and the only fee is literally $1 a month. I think you can whether a $12 year loss when your returns are coming back at 8% or more.
@@GhostAcez acorns is trash bro. Not saying you’re incorrect, but why not just invest normal amounts like 400 per check into etfs or stocks you like? Why let’s then just pull 10 bucks a time out?
@@soonermagic24 you can put in as much as you want into acorns and your money is insured up to $500k lol. You could literally put $500 a day into it if you wanted
When most people take a decade to save up for a mortgage down payment these days, he could at least say "yes, putting your money in acorns at 5% is better than putting it in your local bank at 0.05%." Come on dave, compound interest
I like how Dave says he puts extra cash in an S&P500 fund to keep it liquid... But says Acorns is bad, when it puts extra cash into Vanguards S&P500 Fund VOO...
I've had it for about five years now. I have quite a good chunk of change in it now. It is not my only form of investment. I feel that Dave dismissed it too early. I know that I won't get rich with it, but from the amount of money I have in it now, when I need a new car in five or six years, I could purchase 1/4th or 1/3rd of a new car.
I have 12k in mines. Been investing since 2017. $2,600 is profit. So about 10k that i put on my own. Not sure what dave is talking about. So far i like it. Its not been bad. Mostly i had it set too concervative. Now its on moderatly aggressive.
Started out with acorns but I use a better platform now. I challenged myself to put away 50% of my monthly income into stocks which is quite easy since I live frugal without debt. I work as an account executive, and make over $20000. $10000 goes into dividends, and the other $10000 covers my my food plus living expenses. I am seeing improvements in my portfolio, dividends look certain, but I have to attribute this to only to guidance of a licensed fund manager who allocates funds to a plethora of assets. I have to stay disciplined, and remember that I’m in it for the long term. Just got my first property and hopefully looking to get another down the road. Good luck to everyone and thanks for the great video.
@Joey PerolliniAs I said, I was a novice when it came to investing before I got to know an astute trade analyst, Herman W Jonas, who is guiding me through the process. I put in $30k as capital spread across stocks(index funds, ETFs) and I trade fx and options on the side. With his guidance and I’ve made a return of $103k within my investing span. I'm slowly but perfectly building my portfolio by putting money into the market at a consistent pace.
@Emmanuel Gaithier Thanks for pointing this out. I usually skip past these. Also, how can I get across to him? How quickly does he respond? I will be patient though.
That man is a genius! I endured my fair share of losses when I tried navigating the market myself, but now I appreciate the genius of Herman’s approach to the market in helping me recoup from the losses I made earlier, and even go on to earn more. This is precisely the reason I pick him over and over again.
Dave: "Acorns isn't going to make you rich" Comments: "I like Dave, but I disagree because...." 2 Months Later Dave: "I don't care what you think, Acorns is stupid!" Everyone Else Including Me: Still watches, likes, subscribes, and comments
He doesn't listen at all. ACORNS is not just round up change. You can put however much you want into it. The woman said that but he absolutely did not listen.
I know this will get lost in the comment section but sometimes at night I go to my backyard and roll over in the dirt and pretend I'm a big carrot 🥕.. The neighbors come out to their backyards and yell out "hey who's there?!" I would like to answer but since carrots can't talk, I just remain silent.
@@jimroscovius I do. I use acorns strictly for the round-ups since it's free for me. I have two other portfolios with much more money in those from regular contributions. I'm also a student if you missed that from my initial comment so i'm not going to have a huge portfolio yet due to part-time income.
@@jimroscovius People literally make thousands from acorns. It's the same as if you invested the money in Vanguard elsewhere. Also the accounts are insured up to 500k.
Does Dave not realize that Acorns isn't ONLY round ups? That's just one of the many features. They have Roth IRA or Traditional IRA and they max out at $6500 a year just like any Roth IRA does. I was hoping he would comment on their fees to see if it's worth it. Idk if I should contribute to my Acorns Roth or Fidelity Roth
Dave obviously popped off with his response without really knowing much about the app .. he has no idea all the features this app and others offer to put money away and in fact invest money
Ramsey knows what he knows and shows contempt for other things. Ramsey would do well to get some education. Acorns has wide and deep appeal. It's legit. It grows that forgotten change. Investing tools are getting more clever as tech improves.
When Dave is speaking, he is speaking for the majority who only use it for the round up on change. People should be focusing on the big picture and be maxing out their IRAs and 401ks first before moving to taxable brokerage firms.
Im using raiz (the aussie version of acorns) to save roundups so i can eventually buy more bulk shares. Its a good way to put money aside when your saving for other stuff, and gets better returns than a bank account these days.
Just more proof Dave is out of touch and doesn’t have any clue what acorns does. His exposure to acorns is likely what he’s seen on UA-cam advertisements from 6 years ago. It’s not JUST small amounts. That’s what they branded themselves on, sure. But you can literally throw in 20k here, 5k there, 100k there if you wanted to. There is no limit to the amount you can invest. 😂
I don’t think he understands that people can put in set amounts per week, bi-weekly, monthly, etc. I’m putting $600 per month divided weekly into Acorns set to aggressive. I don’t think he understands the premise of her question, and I can hear it in her voice, because it’s the same frustration I have hearing him say it’s amounts too small to matter. $600 per month is not insignificant on any planet.
I can’t stand ppl that think they know it all ... if your not knowledgeable on certain things just don’t speak on it ... acorns is an awesome investing tool ...
Yeah, the point isn't to make you rich. This is essentially the same as Dave's coffee cup he mentioned except it beats a savings account in returns. It's not much but you might as well
@@musicpro7278 Not it's not. It just like any other place where you can invest. Just because your cult leader doesn't like it, because he does not understand it. Does not mean it's stupid.
I use Acorns an Robinhood for different reasons an i invest way more in Acorns and let the experts handle the hard work . I been getting great returns , he really just don't understand acorns business model .
11 years ago I started putting $5 per day into the aggressive type fund with Acorns and this last May I bought a late model used car with the proceeds. Dave has a misunderstanding about what Acorns is and what the app is capable of.
I use it more of just a way for saving where I’m not really thinking much about it. My husband and I are great savers but I like acorns because each week I have them take $20 and put it in my acorns account. I empty it every 6 months. About $500 in June that we use for vacation for food, entertainment, fun money… About $500 in December for Christmas. It is not our only savings for vacation or Christmas but it’s kind of nice to use it like fun money or a cushion that I never miss. It’s like the cup of change but I never pay in cash so it’s earning me more than I would ever earn with change!
That’s exactly what I do.. I have a Roth IRA, a Brokerage Account that I invest in as well.. but I also have an acorns account that I use and withdraw once a year for a nice vacation fund.. I typically have like $1500 to spend every year at the end of the year. I love it !
Same with everything going to debit cards etc nobody Carry’s paper bills anymore so it’s useful to have the round up go digitally into a savings although most banks offer the same service now
He’s an older guy and probably has his ways of making money as set and stone. He doesn’t like BTC or anything current so his way will probably make you lots of money but he doesn’t care to learn about the new stuff either
How much would you have to invest in Acorns Invest and Acorns Later to make the $3/month fee worth it? 🤔 I’ve been comparing using Acorns vs an S&P 500 index fund for. Vanguard or Schwab.
I think that using it for a side dream is the way to go. For instance I have an account with M1 that I put 20 per paycheck in just for fun that I want to use 20 years from now for a chunk of money towards a sports car or a boat. If it has good returns (20% so far) I'll be able to afford a really nice toy I wouldn't normally want to drop money on without touching my bank account or main investment portfolios
Could the guy sitting next to Dave actually have an original thought rather than agree with everything he says? They are so out of touch and don’t even offer good advice regarding Acorn.
The math ain’t mathing for me I’m trying to learn about acorn.. you said $20 per day so 20 x 7= $140 140 x 4 (4 weeks) = $560 So for about 9 months you invested about 5,040 with a return $492 Coming from the amount you put in plus the round ups… Can you help me out… It’s not making sense
@@zealbell7817I see it as him getting close to 10% so far in 9 months which is pretty good. I haven’t invested in acorns. Been researching but it has been good so far that I have been hearing.
I'm considering getting an Acorns account solely for the round up feature. I'm already maxing out my Roth IRA every year, anything above that Roth IRA cap, I put into a traditional investing acct...so if I have the ability to put my 'coffee cup change' to work, I'd like to take advantage of that. Thanks for making the video!
asking Dave Ramsey if you should use one of his smartvestor pros, is like asking a fox to count how many hens are in the coop. be advised he gets a kickback anytime someone does.
At first I was glad someone asked this question, but I don’t agree with his answer, first off, you’re better off putting your change into the SP500 than not, also Acorns is whatever you want it to be, I invest most of the money I make into it and it’s been great
He has some good information, but he doesn’t listen well. He regularly cuts people off. Maybe I notice it because being interrupted when I’m trying to explain is a huge pet peeve of mine.
It charges a fee 3$ a month or 36$ a year, so as long as your return makes more than that you should be good. But look into other apps with less fees also
Acorns help me raise a lot when I didn't have a substantial amount to invest but now that they're tripling their fees I don't know if I want to stick around
Rounding up your change on debit purchases is just a feature that acorns offers. You can put in whatever amount you want on a daily or weekly basis. I have a certain amount of my check deposited into acorns every week. If I wanted to I could deposit 500 dollars into my acorns Roth IRA right now. I kind of feel like that fact makes this segment obsolete, as this video makes it sound as if acorns only invested your spare change. Nope. My Acorns account is doing pretty darn good. I have utma accounts open for my kids too through them.
I understand his point of view. What he meant to say is that at the long run, investing those dimes and nickles you would normally put on Acorn, you should put it towards a debt or a higher compound of an already invested area. For example a savings account with 5k, 10k or 20k. A stock or fund with 5k, 10k+, etc etc. That doesn't mean Acorn is useless. It's just a matter of prioritizing your money
You can put 5k, 10k, 20k into an acorns mighty oak savings account with a 5% APY. The whole dimes and nickels thing is like 0.003% of what acorns offers.
Pay attention to what people are saying!!You completely missed what she said. She doesn’t just put the change in. She puts several hundred into it every month in addition to the change. Listen to her! Dave Acorns is based on the S&P 500 mutual funds that you tout hardcore.
Last week I looked in my acorn account and found $250 in it. I have no idea where it came from. I didn't even set an automatic payment where they take the money out of my account. I'm assuming its because I use my debit card a lot and rounds up the change.
@@onehonei2 I did soon as I found about the 250. But that's a good question hopefully I didn't get penalized for. I didn't think about that when I withdrew the money
I’m 35 haven’t started investing haven’t had a good job until recently (construction) how to I go about starting this stuff to be set for when I’m 60 ish to retire? Is that even possible??? None of this stuff makes sense they’re talking about? Where do I start??
Golly, before he comments so sure about something, he should've of really be sure what he is talking about. It's not only the spare change, but the recurring investments.
Question, would you still match a 401k if you don’t make contributions your whole life? As a government employee I have access to the TSP and the government will match 5% BUT if you leave federal service you can’t contribute anymore. I may only be contributing for a few years….. anyone have any insight in this?
The good thing about the 401k is the tax benefits and employer contribution. It's up to you, I was looking into starting a roth with.acorns. I started with acorns and I think it's a good place to start.
Most of y'all in the comments are weird. The lady is already following the 401k, Roth, IRA plan so using acorns is not necessary for her. Although it's true she can more if she wants to, if she is not throwing in chunks then it doesn't matter and he is right. All he is saying is pay the home off and keep the 401k, IRAs going. If her company didn't have good retirement options or a 401k at all, Acorns would be a viable solution. Obviously if you max out 401k yearly investments and pay extra on the mortgage then you can do what you want and you should.
Literally 5-10 years ago there were articles making fun of all the baby boomers who bought forested land as a long term investment. They couldn’t sell the lumber. Just had to ride it out.
Every penny counts. She should be doing it because you would just land it in the coffee cup until you had enough to invest anyway. When she could luck out. Sunstone could rob the change that you save.
You would think someone like Ramsey would be supporting something that saves nickels and dimes and invest that into the market. All of that adds up in the long run. Acorns also offers IRA and Roth IRA and you can deposit whatever you want. A dollar, $100, $26.93, your call.
In less than 6 months with round ups and reccuring payments i have over 3k already. Acorns is good for starters in the market. U can also add a roth ira or ira as well.
@@jimmatzek5895 Does not matter the amount but consistency is key. I believe what Dave is trying to say is that why bother with saving change when you should focus on saving a lot more to get to your goal quicker. 200k sounds good but will that be that same 200k be worth the same in 40 years as it is worth today ? Most people don't save for retirement and this app will give them a false sense of security. But...a little investing is better than nothing i guess.
@@lombardo141 yeah its consistent in addition to my regular accounts. Adds up.... I have learned a lot from Dave, got me to straighten me up and get wise about money... as your main vehicle to retirment no, it will likely be an account gifted to niece or nephew to grow generational wealth. The more I listen to Dave he just sounds like an angry old man. You need the rigidity when you start sbd thats what he is there for, but as you grow learn and understand your views change...
I put my escrow money into Acorns until it's time to pay taxes & insurance. It does more for me than it would sitting in a checking or savings account.
Dear People, this guy just heard pennies and placing pennies somewhere. He really does not know how Acorns works or lacks research about this app. You can tell, Ramsey is an old school kinda guy when it comes to finance. He wants everyone to invest into Roths lol Roth has a limit of how much to put in a year.
I just set it up, forget it, and let it do it’s thing. Then before a vacation, I can use the build up round up for vacation spending. It is GREAT for that kind of thing. Just like putting change in a jar as a family like we all did as kids but this is way better than a change jar because rarely do must of us use cash much nowadays. Just my two cents. 🤷🏼♂️
I love Dave but the Acorns app works well. I have been putting 20 bucks a week in and it grows steadily. Wish I could put in more and looking into dividend investing as well.
Don't get discouraged just because you can "only" invest like $100 per month. It can compound to tremendous wealth over the course of decades. The important thing is that you keep going!
I'm planning to invest $250,000 of my savings into the stock market to build an aggressive portfolio that will surppas millionbs on the long run. What are the best long/short term investment strategies to use to achieve this goal?
Exactly, why I stopped taking financial advise from UA-camrs, because in reality I end up with a collection of confusing stocks. Whereas, all I needed was a real market expert to have made over $350k in less than 2 years.
Could you recommend your advis0r? I'll be happy to use some help with my portfolio’s management
Don't ask random people on UA-cam. It will lead you nowhere. You can ask my specialist DIANA CASTEEL LYNCH or do your own research, nothing in between.
Her name is DIANA CASTEEL LYNCH. I can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@ClarieZwiehoff That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@ThamaraSchlossarek My advisor is *MARGARET MOLLI ALVEY*
You can look her up online
Nah I Can't say I can relate, *MARGARET MOLLI ALVEY* charge is one-off and pretty reasonable when compared to what I benefit in returns.
I think ur change is better in that app than the coffee mug
Agree lol his coffee cup is definitely not going to make his money grow. He doesn't know all the good things and the tools in the acorn app.
the misunderstanding here is you dont have to just put in spare change, you can put in as much as you want into acorns. They also have roth IRA's you can contribute to. I'm maxing out my acorn roth IRA
Anymore info? Sounds interesting :)
Elaborate
@@PiLLO360 the shtick of acorns is the round up features, yes, but you can also have recurring investments of any size on the platform that could go either into the regular "brokerage" account or an IRA account (Roth or otherwise). Sure, if you only put in your spare change it won't make you rich, but it will be extra money. It is basically like having the jug full of change, but instead of it being on your dresser, the money is actually working in an index fund.
Problem with apps is they control when you buy/sell your investments. Example: your Gamestop stock is worth 1 million, you hit "Sell"... 2 days later, it's worth 200,000. 4 days later worth $2 again *your transaction has been processed*, $2 will be added to your bank account(minus capital gains tax). Meanwhile they owned the stock you thought u did, that's the easiest way to understand it if you don't (which you should delete the app asap)
what are the fees like?
It's better than her spending that "small amount" on something else she doesn't need.
Exactly!
@@tonypeters3320 she spends enough to justify using the app to round up so she obviously feels like she spends enough to make it worth it.
She should not be putting spare change in corn she should put it to her 2 big investments her morgage or her 401k
@@chuck... she won't have "extra" to do it without the psychological thought of it only being extra because its the difference. She won't track purchases like that each time and add that to an account. She can invest in that separate. Saving both can only be good. It will keep her from making extra purchases she thinks is already in the budget.
@@chuck... she maxed out her 401k only allowed certain amount per year
My Acorns investment growth over the past year has been 35%. My only regret is I didn't have more to put in. Dave might wanna look into this a little more and revisit the topic.
Yeah I disagree with him I get quarterly bonuses from my company and I put the extra I get into acorns on top of the round ups and the weekly deposits and it’s been great for me I’m on the moderate growth potential plan for 20 plus years .
The fees are high if you have a small balance. Really investing isn’t as hard as it seems. It’s just intimidating at first. Most folks better off throwing that extra change into a broker account imo
It’s the truth! I love it!
You mean matching the current inflated bubble?
@@usernameluis305 there is always a bubble but go ahead and save your money for when your 70. You’ll be too old to enjoy your money
Dave dismissed it prematurely because he didn’t know the app enough to give an informed answer. He rushed onto what he’s most comfortable with
Yeah I heard that as soon as he mentioned the coffee cup. Because I have the acorns card. Which gives max 5.00% APY. I've already got $2.50 in one month having $1k in it. I highly recommend! Same with upside
@@colesmith4694 I got my 5% APY too! You can’t get that ANYWHERE.
Yah and I didn't like how he didn't let her elaborate
I’ve used acorns and I’ve had 8% return average in the past 4 yrs. if you put a weekly reoccurring investment then you get good returns. I’ve invested 80k and it’s gone to up to over 100k so that’s been good. Ramsey I like you but you are wrong on this one.
I think Ramsey is out of touch with these alternative ways of investing. I came directly to the comments to see what people who are using this app are saying. Thanks for sharing your experience!
@@RuthAnnNordin of course no problem. I agree with you
Acorns is not as good as vanguard. In the past years, I have averaged over 15-20 percent!
@@alexhung7158 yeah but not everyone signs up ok vanguard and Acorns makes it very simple
@@OrangeCountyProductions vanguard u need 3,000 to even open an account, right?
You can tell he doesn’t know much about these apps, he’s become so far out of touch with the modern generation of adults investing. I think he needs to brush up on a lot of current ways people are saving. He’s been financially secure for so long, he has no idea what we’re up against in these times. Especially post Covid world, it’s awfully hard out there. Rent is insane and people need 3/4 roommates to even pay the bills!!! Jobs are getting away with letting people go that aren’t fully trained and perfect by 3 months. Unemployment/state programs are squeezing money back out of the poor people they just paid it to. It’s a very tough and different world out there. I think he needs to do some research about newer ways people are saving, it’s better to start small then do nothing at all!!!
He’s right about it though tiny investments aren’t going to make you financially free
Love this comment ❤❤
I personally love my acorns account!
You literally don’t feel the money going in and the growth is pretty good
hes insane, part of his baby steps is to pay for ur kids college because for some reason kids cant handle debt? but anyway if you put in 90$ a week into a acorns account for a kid from the day he was born to the day he was 18 you would have 277k with a 166k return on investment. hes to clueless to know acorns skips his baby step of paying for someone els college fund LOL, not to mention if used right, acorns can set ANYONE up for retirement, its what i bank on for self employment
Who remembers when this was Chris Hogan's channel?
@Frenzy yah there was some news a few months back now about in him having to leave the ramsey group, dang shame cause I kinda came to love his advice helped me a ton. was definitely my favorite of dave's hires
Oh it was? That’s why I was already subscribed! I didn’t know that.
🤣
Apparently Dave had to fire him because of allegations extramarital relationships.
🤣 crazy switch up
Acorns also can take large amounts to similar to a 401k. Dave needs to read more about acorns.
Facts!
Dave is a joke
He’s uninformed
@@Daniel-mq3nf And yet here you are! With no idea what you are talking about.
@@anthonybrown06 Nope, he has access to the best investment advisors money can buy, you have an opinion.
Hey Dave, although what you said is an aspect of Acorns, it is still useful. There are still a lot of people that are first or second generation that did not grow up learning about the investing.
I wonder if I put 150 into my acorns every 3 months I want to know if that can round up to 5000 in 2 years
@@janayewill3883 It’s obvious that R.O.I is not as much as other investments, however for those who know nothing about investing, it’s a great start. Does that answer your question?
I am one of them and I am now using acron and it’s good with me
I think Dave needs to do a little research on Acorns. I put 10,000 a year into acorns. That 6k in a Roth IRA and 4k into a regular account. Acorns has the same mutual funds/ETF that Dave Ramsey teaches and have performed extremely well with low expense ratio. This was a disservice to the lady.
I agree Mr. Ramsey should not have disrespected her as he did.
I do also man
Even if a home owners pays off their mortgage, they still won't own the home. Because in America, if you still don't pay your real estate taxes every year the state or county can foreclose on the home.
And, if you don't take care of the paperwork and you end up in a care home. You loose it as well.
@@ignatiusarchambault1049 "Keep your friends close, and your enemies closer.'' (The Godfather Rule)
I have the Acorns app and I can tell you that opting out of the nickel and dime investments is an option and you can basically just invest a larger amount recurring. The dividends start out a few cents a month but as your balance grows so does your dividends. Now I invest just the minimum $5/mo and get $7.50/mo in dividends so now I'm making some money off of it even though it's not much it is a relatively profitable amount.
Exactly! I don't know what this guy is talking about 🤷♂️ it's been making me money.
What kind of balance do you have to maintain to get 7.50/month in dividends?
@@echofoxtrotwhiskey1595 If you owned about 4k in Pepsi stock, the dividends would be close to 7.50 per month.
@@Jmsadv trU 💯💥
I also don't see any growth in my acorn account 😅
Here's the thing. I am people like me. And people like me wouldn't even be investing or even saving of it weren't for easy apps like Acorns. Not everyone is people like Dave. A lot of people are people me. (BTW this is why I don't like hearing the condescending comparisons. I'm only comparing me to the old me.) Gotta wonder why Dave doesn't encourage how to use a tool like Acorns properly.
Nickels and dimes was a start. Then it wasn't enough. So I stepped it up, which you can do in Acorns. It's not a joke. It's better than I used to do. Now I'm debt free, and I have way more put away in various places than I have in my checking account, and it took a long time for me to even imagine something like that. I have a plan for growth. Thanks, apps like Acorns.
“It is difficult to get a man to understand something when his salary depends upon his not understanding it.”
I’m usually for Dave but he is so wrong on this one. It’s funny that this is coming from a guy who preaches “every dollar should have a name” and “best way to invest is automated investing”. A dollar consists of 4 *chump changes* quarters. 4 everyday transaction and a dollar is put into an automated investing account without you even notice it. And no the fee is not $3/month that’s the highest tier if you go with the base tier it’s $1 a month. I had a total of $4500 contribution in my Acorn account since 2017 and it now worths almost $7000. Last year my “chump changes” totaling up to $450 (now worth $580) or $37.50 average every month automatically invested for me, that’s 37.50% contribution of the “$100 a month from age 20 to age 65 will make you a millionaire” talking point of Dave. I can’t believe Dave discourages Acorns it’s like the perfect piggy bank for the people that he wants to help.
Thanks for sharing! I never heard of Acorns before. Now I'm going to check it out.
You’re getting hit with fees.. just open your own td Ameritrade account, and throw in etfs. You’d do better than you think. Good luck
@@soonermagic24 You are investing in ETFs with acorns and the only fee is literally $1 a month. I think you can whether a $12 year loss when your returns are coming back at 8% or more.
@@GhostAcez acorns is trash bro. Not saying you’re incorrect, but why not just invest normal amounts like 400 per check into etfs or stocks you like? Why let’s then just pull 10 bucks a time out?
@@soonermagic24 you can put in as much as you want into acorns and your money is insured up to $500k lol. You could literally put $500 a day into it if you wanted
When most people take a decade to save up for a mortgage down payment these days, he could at least say "yes, putting your money in acorns at 5% is better than putting it in your local bank at 0.05%." Come on dave, compound interest
Hey Dave- how about letting her speak?
I'm glad I read the comments because the way he cut the caller off without hesitation rubbed me the wrong way. I will continue researching Acorns!
He makes no money from Acorns, notice he immediately said call my “Smartvester Pros” now they will collect him some fees.
Even rich people have regrets in not investing in stuff.
I like how Dave says he puts extra cash in an S&P500 fund to keep it liquid... But says Acorns is bad, when it puts extra cash into Vanguards S&P500 Fund VOO...
Exactly!
I've had it for about five years now. I have quite a good chunk of change in it now. It is not my only form of investment. I feel that Dave dismissed it too early. I know that I won't get rich with it, but from the amount of money I have in it now, when I need a new car in five or six years, I could purchase 1/4th or 1/3rd of a new car.
So would you say if a car is 30,000 in 5 or 6 years acorns will catch you about 7,000? So how about a thousand or less a year that you're earning?
BBC = Bring Back Chris.
𝘛𝘩𝘢𝘯𝘬𝘴 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘤𝘰𝘮𝘮𝘦𝘯𝘵𝘴!. 𝘋𝘰𝘯'𝘵 𝘧𝘰𝘳𝘨𝘦𝘵 𝘵𝘰 𝘩𝘪𝘵 𝘵𝘩𝘦 𝘴𝘶𝘣𝘴𝘤𝘳𝘪𝘣𝘦 𝘣𝘶𝘵𝘵𝘰𝘯✅
.....................................&✔️+⑴(6)(1)(7)(2)(0)(3)(6)(8)(2)(9)
𝘞>𝘏𝘛𝘈𝘗✔️
....................................
Miss him too. He needs his own financial show, it will be huuuuuuge
I have 12k in mines. Been investing since 2017. $2,600 is profit. So about 10k that i put on my own. Not sure what dave is talking about. So far i like it. Its not been bad. Mostly i had it set too concervative. Now its on moderatly aggressive.
Started out with acorns but I use a better platform now. I challenged myself to put away 50% of my monthly income into stocks which is quite easy since I live frugal without debt. I work as an account executive, and make over $20000. $10000 goes into dividends, and the other $10000 covers my my food plus living expenses. I am seeing improvements in my portfolio, dividends look certain, but I have to attribute this to only to guidance of a licensed fund manager who allocates funds to a plethora of assets. I have to stay disciplined, and remember that I’m in it for the long term. Just got my first property and hopefully looking to get another down the road. Good luck to everyone and thanks for the great video.
@Joey PerolliniAs I said, I was a novice when it came to investing before I got to know an astute trade analyst, Herman W Jonas, who is guiding me through the process. I put in $30k as capital spread across stocks(index funds, ETFs) and I trade fx and options on the side. With his guidance and I’ve made a return of $103k within my investing span. I'm slowly but perfectly building my portfolio by putting money into the market at a consistent pace.
I don’t make that much, but I sure do make enough. However, it will not be a bad idea to hear from a professional.
@Emmanuel Gaithier Thanks for pointing this out. I usually skip past these. Also, how can I get across to him? How quickly does he respond? I will be patient though.
Thanks for getting back to me. I just left him a mail. Can’t wait to begin my investing journey!
That man is a genius! I endured my fair share of losses when I tried navigating the market myself, but now I appreciate the genius of Herman’s approach to the market in helping me recoup from the losses I made earlier, and even go on to earn more. This is precisely the reason I pick him over and over again.
Dave: "Acorns isn't going to make you rich"
Comments: "I like Dave, but I disagree because...."
2 Months Later
Dave: "I don't care what you think, Acorns is stupid!"
Everyone Else Including Me: Still watches, likes, subscribes, and comments
He doesn't listen at all. ACORNS is not just round up change. You can put however much you want into it. The woman said that but he absolutely did not listen.
I know this will get lost in the comment section but sometimes at night I go to my backyard and roll over in the dirt and pretend I'm a big carrot 🥕.. The neighbors come out to their backyards and yell out "hey who's there?!" I would like to answer but since carrots can't talk, I just remain silent.
Be careful.. Bugs might come find you
Bugs Bunny that is
Lost, but now no where near forgotten..
Best comment by far
@@jimmyers1108 And Elmer Fudd 🤣
Yeah, Dave doesn’t understand acorns. You can put any amount of money you want into acorns.
As a student I was grandfathered in so I don't pay anything for Acorns at least right now. I love it and have been using it for a couple years now
You could make a lot more putting that money elsewhere.
@@jimroscovius I do. I use acorns strictly for the round-ups since it's free for me. I have two other portfolios with much more money in those from regular contributions. I'm also a student if you missed that from my initial comment so i'm not going to have a huge portfolio yet due to part-time income.
@@Tammacazi10 Sure, if you're happy making peanuts. I sure didn't get my earnings with peanuts from Acorn.
@@jimroscovius People literally make thousands from acorns. It's the same as if you invested the money in Vanguard elsewhere. Also the accounts are insured up to 500k.
Hi, is there anything you have to do after signing up or do they handle everything for you?
Does Dave not realize that Acorns isn't ONLY round ups? That's just one of the many features. They have Roth IRA or Traditional IRA and they max out at $6500 a year just like any Roth IRA does. I was hoping he would comment on their fees to see if it's worth it. Idk if I should contribute to my Acorns Roth or Fidelity Roth
Dave obviously popped off with his response without really knowing much about the app .. he has no idea all the features this app and others offer to put money away and in fact invest money
If you have no experience in investing I think it’s a good idea.
If your account is under like 6k, your expenses are low, and you’re already investing it’s a waste of time.
Ramsey knows what he knows and shows contempt for other things. Ramsey would do well to get some education. Acorns has wide and deep appeal. It's legit. It grows that forgotten change. Investing tools are getting more clever as tech improves.
It's not an investing tool his company can make money from, of course he is going to down play it
When Dave is speaking, he is speaking for the majority who only use it for the round up on change. People should be focusing on the big picture and be maxing out their IRAs and 401ks first before moving to taxable brokerage firms.
@@alexhung7158 acorns offers IRAs. 👀
Im using raiz (the aussie version of acorns) to save roundups so i can eventually buy more bulk shares. Its a good way to put money aside when your saving for other stuff, and gets better returns than a bank account these days.
Just more proof Dave is out of touch and doesn’t have any clue what acorns does. His exposure to acorns is likely what he’s seen on UA-cam advertisements from 6 years ago. It’s not JUST small amounts. That’s what they branded themselves on, sure. But you can literally throw in 20k here, 5k there, 100k there if you wanted to. There is no limit to the amount you can invest. 😂
Long time Ramsey listener. I just signed up for the app. It's kind of like putting your change into a jar; you don't see it.
I don’t think he understands that people can put in set amounts per week, bi-weekly, monthly, etc. I’m putting $600 per month divided weekly into Acorns set to aggressive. I don’t think he understands the premise of her question, and I can hear it in her voice, because it’s the same frustration I have hearing him say it’s amounts too small to matter. $600 per month is not insignificant on any planet.
I can’t stand ppl that think they know it all ... if your not knowledgeable on certain things just don’t speak on it ... acorns is an awesome investing tool ...
I just use it for the round ups, i know its high fees its just for the convenience and have a few bucks on the side.
thanks for watching and commenting on my UA-cam channel.
inbox me on whatsapp..
👇
+ •❶•❻•❶•❼•❷•⓿•❸•❻•❽•❷•❾
Yeah, the point isn't to make you rich. This is essentially the same as Dave's coffee cup he mentioned except it beats a savings account in returns. It's not much but you might as well
Don't ask him. He doesn't know how is works. You can put in any amount you want to in acorns.
You are not only investing pennies and spare change.
Still stupid
@@musicpro7278 Not it's not. It just like any other place where you can invest.
Just because your cult leader doesn't like it, because he does not understand it.
Does not mean it's stupid.
@@saulgoodman2018 investing in a taxable account before matching or Roth is actually really stupid
@@d_all_in Any investing you are going to have to pay taxes.
Think for yourself. Don't just repeat you cult leader.
@@d_all_in you are in a cult get help. Don’t listen to everything Dave says do your own research.
I use Acorns an Robinhood for different reasons an i invest way more in Acorns and let the experts handle the hard work . I been getting great returns , he really just don't understand acorns business model .
Acorns been the best tool for me in investing. I am still learning but I have about 20K in my acorns and I just let it grow.
11 years ago I started putting $5 per day into the aggressive type fund with Acorns and this last May I bought a late model used car with the proceeds. Dave has a misunderstanding about what Acorns is and what the app is capable of.
I use it more of just a way for saving where I’m not really thinking much about it. My husband and I are great savers but I like acorns because each week I have them take $20 and put it in my acorns account. I empty it every 6 months. About $500 in June that we use for vacation for food, entertainment, fun money… About $500 in December for Christmas. It is not our only savings for vacation or Christmas but it’s kind of nice to use it like fun money or a cushion that I never miss. It’s like the cup of change but I never pay in cash so it’s earning me more than I would ever earn with change!
What about taxes taking out to early?
That’s exactly what I do.. I have a Roth IRA, a Brokerage Account that I invest in as well.. but I also have an acorns account that I use and withdraw once a year for a nice vacation fund.. I typically have like $1500 to spend every year at the end of the year. I love it !
52 weeks in a year. Half of that is 26. 26X20 is 520. That means you're losing $20. You might as well just stash it in a safe, you'd be better off.
Same with everything going to debit cards etc nobody Carry’s paper bills anymore so it’s useful to have the round up go digitally into a savings although most banks offer the same service now
Does Dave and his team actually do extensive research into these apps.
No.
As a Dave Ramsey fan... probably not in all honesty
He’s an older guy and probably has his ways of making money as set and stone. He doesn’t like BTC or anything current so his way will probably make you lots of money but he doesn’t care to learn about the new stuff either
Just my opinion ^
Obviously not in this case anyway
How much would you have to invest in Acorns Invest and Acorns Later to make the $3/month fee worth it? 🤔
I’ve been comparing using Acorns vs an S&P 500 index fund for. Vanguard or Schwab.
I mean, it's $3 x 12 = $36. So if your accounts earn double that, I would say it's worth it. No?
I am just glad Dave Ramsey pronounces it "Akerns" Clay Newcomb would be proud.
As Warren buffet said "saying you have a mutual fund tells me you know nothing about investing"...
I think that using it for a side dream is the way to go. For instance I have an account with M1 that I put 20 per paycheck in just for fun that I want to use 20 years from now for a chunk of money towards a sports car or a boat. If it has good returns (20% so far) I'll be able to afford a really nice toy I wouldn't normally want to drop money on without touching my bank account or main investment portfolios
Its a great tool to help build an emergency fund.
Could the guy sitting next to Dave actually have an original thought rather than agree with everything he says? They are so out of touch and don’t even offer good advice regarding Acorn.
I’ve made $492 since January on acorns, adding $20 per day + round ups. It’s that a good return?
Yes
The math ain’t mathing for me
I’m trying to learn about acorn.. you said $20 per day so 20 x 7= $140
140 x 4 (4 weeks) = $560
So for about 9 months you invested about 5,040 with a return $492
Coming from the amount you put in plus the round ups…
Can you help me out… It’s not making sense
@@zealbell7817I see it as him getting close to 10% so far in 9 months which is pretty good. I haven’t invested in acorns. Been researching but it has been good so far that I have been hearing.
I'm considering getting an Acorns account solely for the round up feature.
I'm already maxing out my Roth IRA every year, anything above that Roth IRA cap, I put into a traditional investing acct...so if I have the ability to put my 'coffee cup change' to work, I'd like to take advantage of that.
Thanks for making the video!
asking Dave Ramsey if you should use one of his smartvestor pros, is like asking a fox to count how many hens are in the coop. be advised he gets a kickback anytime someone does.
What's wrong with that? He's running a business, not a charity.
At first I was glad someone asked this question, but I don’t agree with his answer, first off, you’re better off putting your change into the SP500 than not, also Acorns is whatever you want it to be, I invest most of the money I make into it and it’s been great
He has some good information, but he doesn’t listen well. He regularly cuts people off. Maybe I notice it because being interrupted when I’m trying to explain is a huge pet peeve of mine.
Agreed! He always cut people off in the middle. Sometimes, he doesn't care to listen. He needs to slow down!
hes been doing this for 30 years hes heard it all, hes getting to the point
Yes you guy’s are Right I have use acorns for 1 year and I love it I have save I’m getting more then what banks give
Fact is, Dave does not know everything that works and everything that doesn't. Remember, it's your choice.
I used Acorns as a saving method.
It charges a fee 3$ a month or 36$ a year, so as long as your return makes more than that you should be good. But look into other apps with less fees also
What about investing $100/ month in Acorn?? Is it good investing???
yes!
ive used Acorns for the Past year and have consistently gained 10-12% on my Money.
Acorns help me raise a lot when I didn't have a substantial amount to invest but now that they're tripling their fees I don't know if I want to stick around
Acorns also has a Retirement Account-I have a Roth IRA with them
Acorn app is unavailable in my region . What can I do ? Will vpn help
Where do you live? Acorns is only available in US as for now
Rounding up your change on debit purchases is just a feature that acorns offers. You can put in whatever amount you want on a daily or weekly basis. I have a certain amount of my check deposited into acorns every week. If I wanted to I could deposit 500 dollars into my acorns Roth IRA right now. I kind of feel like that fact makes this segment obsolete, as this video makes it sound as if acorns only invested your spare change. Nope. My Acorns account is doing pretty darn good. I have utma accounts open for my kids too through them.
What is utma accounts??
Are you alex rodriguez the baseball player.
@vjiggy81 Yup, that would be me. And no, I don't know how Jennifer's doing.
i am 16 and want to do stocks but my mom won’t let me open a custodial account and idk what to do
Get a part-time job, and you can open an account yourself. You can't open an account without an income.
I understand his point of view. What he meant to say is that at the long run, investing those dimes and nickles you would normally put on Acorn, you should put it towards a debt or a higher compound of an already invested area. For example a savings account with 5k, 10k or 20k. A stock or fund with 5k, 10k+, etc etc.
That doesn't mean Acorn is useless. It's just a matter of prioritizing your money
You can put 5k, 10k, 20k into an acorns mighty oak savings account with a 5% APY. The whole dimes and nickels thing is like 0.003% of what acorns offers.
Pay attention to what people are saying!!You completely missed what she said. She doesn’t just put the change in. She puts several hundred into it every month in addition to the change. Listen to her! Dave Acorns is based on the S&P 500 mutual funds that you tout hardcore.
Last week I looked in my acorn account and found $250 in it. I have no idea where it came from. I didn't even set an automatic payment where they take the money out of my account. I'm assuming its because I use my debit card a lot and rounds up the change.
Can you withdraw the money out anytime you want without being penalized
@@onehonei2 I did soon as I found about the 250. But that's a good question hopefully I didn't get penalized for. I didn't think about that when I withdrew the money
I’m 35 haven’t started investing haven’t had a good job until recently (construction) how to I go about starting this stuff to be set for when I’m 60 ish to retire? Is that even possible??? None of this stuff makes sense they’re talking about? Where do I start??
Golly, before he comments so sure about something, he should've of really be sure what he is talking about. It's not only the spare change, but the recurring investments.
I respect Dave Ramsey. Though he’s only talking to the educated class. 80-90% of folks aren’t making 90K+.
From acorns mighty oaks do grow.
Question, would you still match a 401k if you don’t make contributions your whole life? As a government employee I have access to the TSP and the government will match 5% BUT if you leave federal service you can’t contribute anymore. I may only be contributing for a few years….. anyone have any insight in this?
My acorns is at 8% return seems like it's not a bad place to put some money if you want to be able to get to it
if you plant nothing, you get nothing. I hope DR researched Acorns and revisits this call.
I invest in my 401k and acorns. I put 6% in 401k and 3% in acorns. Should I just have all 9% in my 401k or do something else with the other 3%? Thanks
The good thing about the 401k is the tax benefits and employer contribution. It's up to you, I was looking into starting a roth with.acorns. I started with acorns and I think it's a good place to start.
Most of y'all in the comments are weird. The lady is already following the 401k, Roth, IRA plan so using acorns is not necessary for her. Although it's true she can more if she wants to, if she is not throwing in chunks then it doesn't matter and he is right. All he is saying is pay the home off and keep the 401k, IRAs going. If her company didn't have good retirement options or a 401k at all, Acorns would be a viable solution. Obviously if you max out 401k yearly investments and pay extra on the mortgage then you can do what you want and you should.
Yeah let me get my spare change and send it to my 401k every week.
@@kevovernon😂😂😂😂😅😅 Exactly !! This is hilarious
"Match beats Roth beats Traditional"
"Ok, rock paper scissors, right"
🤦♀️no, not rock paper scissors. Traditional does not in turn beat match.
Index funds are better than mutual funds, less fees which makes a huge difference in long term
Is Acorns just a savings app?
Literally 5-10 years ago there were articles making fun of all the baby boomers who bought forested land as a long term investment. They couldn’t sell the lumber.
Just had to ride it out.
Monthly fees of $3-$12? Why? ETrade doesn't charge me anything to have an account with them.
Every penny counts. She should be doing it because you would just land it in the coffee cup until you had enough to invest anyway. When she could luck out. Sunstone could rob the change that you save.
I’m all for Dave but he needs to maybe reconsider large and small platforms
You would think someone like Ramsey would be supporting something that saves nickels and dimes and invest that into the market. All of that adds up in the long run.
Acorns also offers IRA and Roth IRA and you can deposit whatever you want. A dollar, $100, $26.93, your call.
In less than 6 months with round ups and reccuring payments i have over 3k already. Acorns is good for starters in the market. U can also add a roth ira or ira as well.
Sorry Dave, you are wrong. These nickel and dime add up return has been 24 percent. As an additional thing it is nice.....
24% of $1. Nice ?
@@lombardo141 turns into an additonal 200 k by retirment... so there is that....
@@jimmatzek5895 Does not matter the amount but consistency is key. I believe what Dave is trying to say is that why bother with saving change when you should focus on saving a lot more to get to your goal quicker. 200k sounds good but will that be that same 200k be worth the same in 40 years as it is worth today ? Most people don't save for retirement and this app will give them a false sense of security. But...a little investing is better than nothing i guess.
@@lombardo141 yeah its consistent in addition to my regular accounts. Adds up.... I have learned a lot from Dave, got me to straighten me up and get wise about money... as your main vehicle to retirment no, it will likely be an account gifted to niece or nephew to grow generational wealth. The more I listen to Dave he just sounds like an angry old man. You need the rigidity when you start sbd thats what he is there for, but as you grow learn and understand your views change...
Dave ramsey needs to revisit the 3% APY debit card
Paying off your mortgage is the stupidest thing I’ve ever heard.
Can you max out both Roth and 401k? Or if I contribute $6k to Roth then I can only do $13k on 401k?
You can max out both. 6000 and 19500
I put my escrow money into Acorns until it's time to pay taxes & insurance. It does more for me than it would sitting in a checking or savings account.
Dear People, this guy just heard pennies and placing pennies somewhere. He really does not know how Acorns works or lacks research about this app. You can tell, Ramsey is an old school kinda guy when it comes to finance. He wants everyone to invest into Roths lol Roth has a limit of how much to put in a year.
But you can build a farm with acorns too. You just have to put more money than changes 🙄
I just set it up, forget it, and let it do it’s thing. Then before a vacation, I can use the build up round up for vacation spending. It is GREAT for that kind of thing. Just like putting change in a jar as a family like we all did as kids but this is way better than a change jar because rarely do must of us use cash much nowadays. Just my two cents. 🤷🏼♂️
I love Dave but the Acorns app works well. I have been putting 20 bucks a week in and it grows steadily. Wish I could put in more and looking into dividend investing as well.
I just started one putting in 20 bucks, what kinda return are you getting?