The Best Acorn Investing Alternatives for Millennials in 2024

Are you a millennial looking to grow your money but don't know where to start? Look no further! In this blog post, we will explore the best acorn investing alternatives for millennials in 2024. Whether you're a beginner or have some investing experience, there's an option that will suit your needs and goals.

What is Acorns?

Before we dive into the alternatives, let's quickly understand what Acorns is. Acorns is an investment app aimed at beginners who want their money to grow but may not have the time or expertise to manage it. It's a popular choice among millennials due to its user-friendly interface and automated investing features.

The Benefits of Acorn Investing

Acorns offers several advantages that make it appealing to millennials:

• Easy to use: Acorns' user-friendly interface makes it easy for beginners to start investing.
• Automated investing: Acorns automatically invests your spare change by rounding up your purchases to the nearest dollar and investing the difference.
• Diversification: Acorns spreads your investments across different asset classes to reduce risk.
• Low fees: Acorns charges a low monthly fee, making it affordable for millennials with limited funds.

Acorns vs. Stash: A 2024 Comparison

One popular alternative to Acorns is Stash. Let's compare the two and see which one might be the best fit for you:

Acorns is best for:

• Beginners who want a hands-off approach to investing.
• Millennials who want to start investing with small amounts of money.

Acorns at a glance:

• User-friendly interface.
• Automated investing through round-ups.
• Diversified portfolio.
• Low fees.

Stash is best for:

• Millennials who want to choose their investments based on their interests and values.
• Investors who want more control over their portfolios.

Stash at a glance:

• Wide range of investment options.
• Ability to invest in fractional shares.
• Opportunity to align investments with personal values.

Top Alternative Investment Platforms in 2024

Now that we've covered Acorns and Stash, let's explore some other alternative investment platforms that may be of interest to millennials:

1. Roots

Roots is an alternative investment platform that focuses on real estate. It allows you to invest in properties and earn passive income. With a minimum investment amount and low fees, Roots is a great option for millennials looking to diversify their investment portfolio.

2. Masterworks

If you're interested in investing in art, Masterworks is the platform for you. It allows you to invest in shares of valuable artwork, giving you exposure to the art market. Masterworks offers a minimum investment amount and charges fees based on your investment returns.

3. Robinhood

Robinhood is a popular investment platform among millennials due to its commission-free trading. It allows you to invest in stocks, ETFs, and cryptocurrencies. With a user-friendly interface and no minimum investment requirement, Robinhood is a great option for beginners.

4. Fundrise

Fundrise is a real estate investment platform that allows you to invest in properties and earn rental income. It offers a minimum investment amount and charges fees based on your investment returns. Fundrise is a good option for millennials looking to diversify their portfolio with real estate.

Acorns Alternatives for International Investors

If you're an international investor, you may be wondering if Acorns is available worldwide. While Acorns is currently only available in the US, there are alternatives that cater to international investors:

1. Wealthsimple

Wealthsimple is a popular robo-advisor that is available in multiple countries, including Canada, Europe, and the UK. It offers a user-friendly interface, automated investing, and low fees. Wealthsimple is a great alternative to Acorns for international investors.

2. eToro

eToro is a social trading platform that allows you to invest in stocks, cryptocurrencies, and more. It is available in many countries around the world, making it a good alternative for international investors. eToro offers a user-friendly interface, a wide range of investment options, and the ability to copy the trades of successful investors.

Conclusion

In conclusion, if you're a millennial looking to start investing in 2024, there are several great alternatives to Acorns. Whether you prefer a hands-off approach, want to invest in specific industries or assets, or are an international investor, there's an option that will suit your needs. Consider your investing goals, risk tolerance, and preferences when choosing the best acorn investing alternative for you. Happy investing!