When you welcome a new baby into your family, you are equipped with a car seat, a stroller and a crib but have you given any thought to how you are going to prepare to send your little one off to college. Acorns Financial will provide Acorns Early free to babies born in 2020. Now it is even easier to invest in your child’s future.
With an Early, a UGMA/UTMA account parents have the tools to save and invest beginning at any age. Early funds can be used for anything that benefits the child, and custodians may see tax advantages while they invest, before easily transferring the account when the child is an adult. Acorns Early features automated Recurring Investments, an interactive Potential graph to view the power of compounding, exclusive Found Money offers, and custom financial literacy content, developed in partnership with CNBC. As part of the release, Acorns has introduced a $5 monthly tier, Acorns Family. Customers in this tier get Acorns Early, plus all-in-one investing, retirement, and checking accounts, Smart Deposit, personalized insurance options, and tools to earn more money. To support as many families as possible, Acorns will allow multiple children per Family account, at no added cost.
“We have always been guided by our mission to look after the financial best interests of the up-and-coming,” said Acorns CEO, Noah Kerner. “If we begin as early as birth, we have the opportunity to change the financial outcomes of an entire generation.”
To support its goal of 1 million Acorns children in one year, and boost customers on their family’s financial wellness journey, the company is kicking off a referral campaign today. Any new Early customers will receive a $50 bonus investment for every friend they refer, and each friend will receive a $10 bonus.
“Early is special for me as a mom, but it feels even more important this year,” said Kennedy Reynolds, mother of three, author of the children’s book, “Grow Your Oak,” and Acorns Chief Brand Officer. “Alongside our customers, we can level the playing field, and get our kids financially ready for whatever comes their way.”
Acorns is accessed simply and easily via the app for iPhone, Android or desktop. Visit Acorns.com for more.
Featured photo: Acorns