Amidst this rising tide of enthusiasm toward investing, particularly among those new to the scene, we've crafted a beginner's roadmap to kickstart your investment journey. Acorns, the app that laid the groundwork for Aiden and Landon in understanding stock market basics, offers an automatic investment feature, an invaluable initial step before we expanded our trading horizons on platforms like Fidelity, where we now independently execute multiple stock trades.
Step-by-Step Guide to Begin Investing with Acorns:
Step 1: Join our Surgevesting Discord group.
Get started by joining our Surgevesting community on Discord, where we delve into investment discussions and learning opportunities.
[Discord Link: https://discord.gg/kpQGCZtA9p]
Step 2: Download the "Acorns" app.
Once you're part of our Discord group, proceed to download the Acorns app from your app store.
Step 3:Â Choose the appropriate plan.
Acorns incurs a fee, and selecting the right plan is crucial. Opt for the $3 a month plan then after the account is created opt for the $1 a month "assist" plan. See how to opt for the "assist" plan here.
Step 4: Account setup and Risk Assessment.
Respond to a few financial situation queries. Based on your answers, Acorns will suggest a portfolio risk. We recommend adjusting it to "Moderately Aggressive" with a "Core" theme, constituting 80% stocks and 20% bonds.
Step 5: Set up recurring investments.
Initiate an automatic recurring investment of at least around $10 or $20 biweekly or weekly, based on your preference. The more the better! These consistent contributions will steadily grow your investments. Be sure to at least have at least 6 months of emergency funds in another account and money to live with.
Step 6: Watch your investments flourish.
Track the growth of your investments over time. It's an excellent method to save and watch your money grow steadily for the long term using Dollar-Cost Averaging (DCA). Acorns is for the long term, you won't want to take money out for the short term, only for strict emergencies. There's no need to delay—start this week and adjust your recurring investments at your convenience.
This streamlined approach through Acorns offers a simple yet effective way to initiate your investment journey. Remember, the key to building wealth is consistent, long-term investing. Feel free to engage with our Surgevesting Discord community for additional guidance and support!
The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
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