Rounding up Small Change article in Tampa Bay Times regarding the Acorn App
This article really peaked my attention. However I’m not sure it would benefit me. I am 67 and retired already. I have a very good public service pension of approx 75,000 yearly and approx. 400,000 in a deferred comp account, most in a fixed 3.5 rate. Of course when I take it out I pay taxes on it. Have always wondered about Roth IRAs where you can withdraw tax free, but have always heard to stay away from. My question is would this app in any of its forms benefit me in any way? If so which one? I use my two main credit cards to pay for almost all my spending and pay them off each month.
Terry Says
No, you’re past the stage of accumulating money for an at-risk investment account. I think you’re set up pretty well for retirement. When the stock market crashes you might want to buy a bit of an index fund in stocks — just to hedge against the impact of inflation on those fixed-rate investments. But there’s no rush to do that now!
