I just signed up for the waitlist for “Acorns Later” and IRA from Acorns. I already contribute to two IRA’s, one from Betterment and one from Aspiration, but I want to see what Acorns will offer.
My equity stake in Acorns has done nicely for me, so I trust that their IRA will do the same. I also like that their minimum initial investment is $5.00, which opens the advantages of IRA investing to a wide audience.
If you’re interested in n Acorns Later IRA, just join the waitlist!
Below is more information from Acorns’ FAQ:
What is Acorns Later?
Acorns Later is the first retirement account designed for the up-and-coming. It will let you automatically invest a percentage of your paycheck into a tax-advantaged account to access later in life.
When will Acorns Later be available?
It will be available in early 2018. If you’re signed up for the Acorns Later waitlist, we will reach out with more information soon.
Why should I invest in an IRA?
Legendary investor, Warren Buffett said, “The most important investment you can make is in yourself.” We agree. IRAs can help you save for retirement without the tax penalties ascribed to other types of savings. When you join Acorns Later, we’ll help you determine the best course for you.
Is Acorns Later an IRA?
Yes. Acorns Later is an IRA, which stands for Individual Retirement Account. We will automatically select the right type of IRA for your lifestyle and goals, each offering distinct tax advantages and eligibility.
How much money do I need to open an Acorns Later account?
Acorns was founded on the principle, “From acorns mighty oaks do grow.” Just as with our investment accounts, you only need $5 to begin saving for your retirement with Acorns Later.
Do I have to be an Acorns customer to start an Acorns Later account?
As a new customer, you’ll need an Acorns profile to open an Acorns Later account. Acorns is built to work hardest for you when you have access to all of our automated tools — from Round-Ups to Found Money and Acorns Later.
We’re working on an easy signup experience for existing Acorns customers.
We believe registration should be as simple and straightforward a process as possible, and we’re focused on achieving that experience for you.
Can I withdraw or transfer my money whenever I want?
With any IRA, there are tax implications for early withdrawals or transfers. We’ll have more specifics for you when Acorns Later launches.
Why do we call this Acorns Later?
Because ‘retirement’ doesn’t mean what it used to for a lot of people. It used to be something you could count on — and when it came, you were going to pursue what you love. Today, many don’t believe they will retire, and others are doing what they love now. So we’ll call it Acorns Later because it will allow you to save – in a tax advantaged way – for even later in life.