Ask Terry Questions Acorn Savings

Acorn Savings

By Terry Savage on August 21, 2018 | Chicken Money

Would you recommend Acorns for seniors living only on Social Security? If so should I sign up now and transfer to the full-fledged Acorns Spend in November or wait until November?

Is this the best solution for seniors on limited incomes, but facing being alive for many more years, to invest?

Thank you

Terry Says

No, this is meant for younger people who have years to build an investment portfolio with money that would have likely slipped through their fingers. If you are a senior on a limited income, keep your “extra” money in the bank in a CD or money market fund, or in Treasury bills. This is not the time to be taking stock market rick!

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