Jeff Cruttenden – Investing In Change.

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“I just don’t have enough money to be investing.” If only I had invested one dollar for every time I’ve uttered those words. Common perception is that if you don’t have hundreds or thousands of dollars to invest, it’s just not worth it — at least, that’s what Jeff Cruttenden (Co-Founder of Acorns.com) and his friends thought — but that got Cruttenden thinking… what if you could create an app that connects to a personal credit card to a dedicated account, and as purchases are made throughout the day, the app rounds up the transactions to the nearest dollar and invests the spare change into a choice of five portfolios of varying risk – so you don’t even think about it? And that’s exactly what he’s done.

With help from the Nobel Prize winning economist and father of Modern Portfolio Theory, Dr. Harry Markowitz, they’ve constructed a system that allows you to invest in three different ways: using the roundup method which puts your spare change to good use; a recurring transaction that allows you to schedule regular deposits at the amount you set; or in lump sums. At a cost of just $1 p/month (and you can withdraw your money at any time for no cost or fees), I’ve suddenly decided I can’t not afford to invest.

Image: acorns.com

 

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