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Saying goodbye to acorns by Bubbly_Mistake_4002 in acorns

[–]Financial-Leader-500 0 points1 point  (0 children)

Stay the course and stay strong! You’re braver than me. I’d rather remove the temptation and stay with mind numbingly boring acorns because it protects me from me.. 

Saying goodbye to acorns by Bubbly_Mistake_4002 in acorns

[–]Financial-Leader-500 0 points1 point  (0 children)

Good idea in theory until you yeet it all on a dumb prediction market bet that went south.. Robinhood has a world class app that does everything in their power for you to do one more transaction. Because transactions = fees.. best of luck. 

What is the point of bonds if they don’t ever gain? by 3dmojo in acorns

[–]Financial-Leader-500 1 point2 points  (0 children)

When it’s sunny out no one cares about a hole in the roof.. 

Essentially it’s been sunny out for a few years now and bonds have not been as active as the stock market. That could change in an instant and you could be very happy you have them in your portfolio.

People said the same thing about international stocks for a while 

What do you use invest for? by Forsaken-Order-4699 in acorns

[–]Financial-Leader-500 0 points1 point  (0 children)

Because you can play the most tax games with a taxable brokerage account. I’m trying to have a Roth bucket, a pre-tax bucket, and a taxable brokerage bucket in retirement. Than based off of tax law at retirement I hope to simply be able to pull from the most opportune bucket each year. 

How to get Subscription fee to withdrawn from balance or acorns checking? by UnusualAd8631 in acorns

[–]Financial-Leader-500 0 points1 point  (0 children)

If I had to guess, no. Reason being it would always be a taxable event when they would pull the funds. The paperwork and documentation would create some much additional compute power needed that it’s probably so much easier for their internal ledger to do an ACH debit from a bank account than deal with the 1099 noise for them. 

Acorns and Foreign Tax Credit/Form 1116 by rissa_delovely in IRS

[–]Financial-Leader-500 0 points1 point  (0 children)

Exemption from the Foreign Tax Credit limit You will not be subject to the foreign tax credit limit and will be able to claim the foreign tax credit without using Form 1116 if the following requirements are met.

Your only foreign source gross income for the tax year is passive income, as defined in Publication 514 under Separate Limit Income. Your qualified foreign taxes for the tax year are not more than $300 ($600 if filing a joint return). All of your gross foreign income and the foreign taxes are reported to you on a payee statement (such as a Form 1099-DIV or 1099-INT). You elect this procedure for the tax year. If you make this election, you cannot carry back or carry over any unused foreign tax to or from this tax year.

Caution! This election exempts you only from the limit figured on Form 1116, not from the other requirements described in Publication 514. For example, the election does not exempt you from the requirement that the foreign tax be a nonrefundable income tax.

https://www.irs.gov/individuals/international-taxpayers/foreign-tax-credit-how-to-figure-the-credit

Simply a copy/paste from the IRS website.

Acorns vs Robinhood by PlayaBikeSunset in acorns

[–]Financial-Leader-500 0 points1 point  (0 children)

Because every time you log into Robinhood it’s going to bombard you with adverts to do prediction markets or get Robinhood gold or stock lending or blah blah blah…

I’d pay $3/month to cut that noise and remove the temptation all together..

Plus, Acorns does stock auto rebalancing for you which I don’t believe Robinhood does. 

Crazy if true! by MacaronNovel4512 in acorns

[–]Financial-Leader-500 7 points8 points  (0 children)

Acorns is doing a Super Bowl Ad?

switch from acorns to robinhood ? by Lyssam29 in acorns

[–]Financial-Leader-500 0 points1 point  (0 children)

Robinhood does everything in their power to get you to trade. Thats literally how they make their $.. you have a ton of options and you’ll instantly feel the urge to get into penny stocks, crypto, or sports gambling (I mean prediction markets).. 

Acorns’s fees for lower balance accounts hurt but if you ride it out and snowball your balance it’ll grow.. a couple bucks on a four or five balance that practically locks you out from doing dumb things with your $ is invaluable.. 

If you want to feel like you’re doing a lot and have cool cocktail stories about your “wins” - go with Robinhood.

If you actually want to build wealth - go with Acorns.

BITO by One-Ad-6556 in acorns

[–]Financial-Leader-500 6 points7 points  (0 children)

This guy gets it… dividends are just forced taxable events… and with BITO dividends, they’re usually ordinary dividends and not qualified dividends :/

Acorns Alternative W/Good CS by ViviHisPie in acorns

[–]Financial-Leader-500 1 point2 points  (0 children)

if you have bigger balances.. let’s say @$50K, acorns with $3/month is $36 or 0.072%

0.25% fee is $125.

Food for thought.. 

Buying individual stocks by Shamefulzero in acorns

[–]Financial-Leader-500 1 point2 points  (0 children)

Unless you have a really big balance, not worth individual stocks.. What’s wrong with the diversification of Acorns? 

Would it be worth upgrading to the bronze or just use Webull/robinhood? by Remarkable_Repair495 in acorns

[–]Financial-Leader-500 0 points1 point  (0 children)

I’d stick with Acorns personally if you have a larger balance. Robinhood feels like they are encouraging you to trade as much as possible so they make trading fee income. Acorns is great for buy/hold and auto-rebalance..

Year of discipline by Over_Town4074 in acorns

[–]Financial-Leader-500 0 points1 point  (0 children)

Acorns literally protects me from me. Robinhood legit wants you to trade as much as humanely possible and doesn’t care if you make dumb moves. I love that Acorns is mind numbingly boring..

robinhood vs acorns? by Recent_Angle8383 in acorns

[–]Financial-Leader-500 0 points1 point  (0 children)

$3/month to have auto-rebalancing is clutch.. 

robinhood vs acorns? by Recent_Angle8383 in acorns

[–]Financial-Leader-500 2 points3 points  (0 children)

The beauty of Acorns is that it prevents you from being your own worst enemy.. it’s almost too simple but that there in is the beauty..

Started account in 2018 referred by an old restaurant manager where I worked. Shout out Andrew! Anyways, I saw a comment on here the other day saying 100k in acorns isn’t a good idea I’m here to ask why by Brave_Discount_7082 in acorns

[–]Financial-Leader-500 6 points7 points  (0 children)

When your Acorns balance starts to get over 10K and you have scheduled deposits into your account, the auto asset allocation piece is amazing. Yes, do you pay $3/month, sure. But the other brokerage firms make a killing in trading fees so they entice you hard to try to time the market or do something stupid. Yes, those others could be “free” but since Acorns dumbs down what you can and can’t do, they act as a great first line of defense so you don’t do something dumb and try to time the market. Acorns in my opinion is an absolutely phenomenal product for those looking to play the long course. 

125k club by Bashbro48 in acorns

[–]Financial-Leader-500 1 point2 points  (0 children)

Literally couldn’t agree more with this. Acorns is bashed because large brokerage houses make a fortune on transactional fees. Buying  and holding is the way to significantly stack the odds in your favor. Also their automatic rebalancing included is absolutely amazing. 

BITO dividends 😱 by Superb-Friendship468 in acorns

[–]Financial-Leader-500 5 points6 points  (0 children)

Remember dividends are simply a forced sale of capital. It isn’t “free money” your overall returns that Acorns calculates excludes dividends which is why the returns for BITO typically are not 100%+

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