A Digital Piggy Bank

I recently saw a Stephen Colbert interview with Ashton Kutcher. A large part of it revolved around Kutcher's ability and tremendous success as a investor at a very early stage of start-ups. This is a must see interview for every wannabe startup. The wisdom contained in 10 minutes is definitely worth a lot more than the 10 minutes.

In the interview he mentioned, Acorns and I was intrigued. It sounded like a great idea. That evening I was going out for dinner with my colleagues Bob and Rupert. At dinner, I checked with Bob whether he had heard of Acorns. He pulled out his phone and showed me his Acorns app. He had started a few months ago and had collected over $ 1,000. Ironically it was also all of his savings. Which makes it a must have for all of us.

Acorns is a digital piggy bank, where your loose change goes into. And then gets invested in a portfolio that the app recommends. Here's how it works.

 

Acorns allows you to "Automatically Invest Spare Change". And what is amazing is that over 1 million people have started using it.

I checked it out. It's simple. Effective. And this Christmas, I'm signing up my 2 kids. Whether they like it. Or not.