A couple of years ago I opened an investment account through the Raiz app (known as Acorns at the time) and then promptly forgot about it. Now that reselling is generating some actual cash-flow surplus to day to day living I have decided to reopen it and automate a very modest base amount of $10 a week and then add 10% of the weekly profit from eBay on top (See the Richest Man In Babylon rules on wealth – I love this book). The other 90% of profit is still going into paying off the investment property.
The Raiz app is basically a gateway introduction to index investing and is super easy to set up. I have only been going for a month and already have cracked the $100 mark. You can use my referral code through this Raiz link, to get $5 when signing up a new account. If you do, thank you.
There are a few reasons why I am really liking this app.
1. Automatic Investments – Set it and forget it.
I was explaining this to a colleague the other day and noticed that my account had more in it than I thought it would. Oh yeah that’s right it automatically does it….! This is half the battle, doing something is infinitely better than doing nothing.
2. Round Up Investing – Spend $3.5 and the account will round up to $4 by investing the 50c difference. Lots of these add up over time and lets be honest are you really going to miss 50c?, probably not.
3. Rewards – I don’t remember these being here when I signed up last time and if you shop a lot you could get a bit of cashback for something you would do anyway, I.e shopping for groceries with Woolies. Watch out for the survey rewards, although they will give you a few cents they really are not worth the time they take to complete…
4. Referral Program – Send a link for someone to sign-up and both people get $5 win-win. You can use my referral code through this Raiz link, to get $5 when signing up a new account. If you do, thank you.
An example from a recent friend who joined is below notated as referral reward, 5 whole dollarydoos!
5. Raiz Kids – A separate tracker for your kids goals and dreams. Don’t think this was here last time either but now with a little one on the way I’ll definitely be using this to build for the future!
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