This deal has expired, view more Acorns deals here or more Blooom deals here.
The Offer
- Acorns offers $55 in Found Money if purchase a membership with Blooom investing.
Blooom is a robo-investment website which focuses specifically on the 401k and offers to monitor and optimize your investments. The monthly membership fee is $10.
The Fine Print
- Valid between midnight (Pacific Time) on July 10, 2018 and midnight (Pacific Time) on July 16, 2018.
- Must click through the Acorns link to get credit.
- New Bloom customers only.
- You will typically be notified within 72 hours of successfully completing an eligible transaction, and contributions to your Acorns account will typically be posted within 120 days thereafter.
Our Verdict
Nice way to try out this service being that the first month puts you back only $10 and the reward is $55. Do your research on whether it’s worth staying with them long term.
Acorns has a $5 referral bonus for both the new member and the referring member, so long as the new member makes an investment. Appreciate if you use my referral link for signing up with Acorns.
Hat tip to Stephen at Frequentmiler
Access for my 401(k). No I don’t think so.
I joined Blooom earlier buy never payed them any money. Will I get the $55 if I sign of for the “premium” membership with Blooom now?
I think there iis a typo.. there are three Os..
No typo, that is the name of the company.
Also, its free for the first month using this code, Found it online (not a ref code) : M6VYV2ZD
You don’t get the $55 bonus if you use a free month code, per the terms of the offer.
Note that signing up for this service will allow Blooom to make trades automatically on your 401k account and you cannot disable this feature.
any other data points on this?
Data points??? Literally the entire purpose of this service is for it to make trades on your behalf.
From the T&C:
“The terms of your Agreement grant blooom a limited power of attorney and appoint blooom as your attorney-in-fact and agent to access third party sites, retrieve and use your information with the full power and authority to do and perform each thing necessary in connection with such activities, with the same legal force and effect as if done by you.”
Is the $55 recorded on 1099-INT?
How does Acorns work? Is it a taxable account? I see that they charge a $1 monthly fee; is there any way around that, or are there enough “Found Money” offers to make it worth keeping around? Can you opt out of the “round-ups”?
I believe if there are no funds in the Acorns account, they don’t charge a monthly fee. Not sure about 1099s.
If you sign up using a .edu email, then you won’t be charged a monthly fee.
Will,
just used your referral for Acorns. Do I need to fund anything in the account to get us the $5 or just opening it is enough?
You have to fund it.
You need an existing 401k from your employer.
So if I don’t have a 401k thru my employee, I cannot/shouldn’t do this??
You aren’t eligible.
What if my old 401k has a zero balance but is still open?
Any thoughts on the usefulness of the service?
Blooom has 3 Os. That is the only thing I have learned from all their commercials. 😛
P.S. Just signed up for Acorns with your referral.
Thanks, let me fix.