How would you like hanging around, doing nothing while making money? Hope you are all coping well. I am sitting here in my room and thinking about the world we are living in with the current pandemic. So today I would like to share with you on how you can make money doing nothing! Sounds too good to be true, well it’s not.
At the end of this post you’re not only going to understand exactly how you are going to be making money online at doing nothing. I’m actually going to share with you some very cool ways to make even more money doing even less than nothing if that even exists
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RobinHood App, zero fees!
Wait, what’s less than nothing and so unless you’ve been hiding under a rock inside of a cave you’ve probably heard about apps like RobinHood. Now RobinHood for example has completely changed the landscape when it comes to investing. In the days of old you had to pay e-trade and companies like that you know five dollars a trade, eight dollars of trade, fifteen dollars a trade, every single time that you actually wanted to buy into a stock. However, RobinHood came along and completely changed the market and now you see companies like Schwab and all these different brokerage accounts starting to copy the RobinHood model charging $0 for trades.
Investing like Warren Buffett….
The app that we are going to be talking about today has completely disrupted at the model as well and it’s a really good idea when you actually think about it. This is because, at the end of the day we all are living our lives we’re all spending money on Starbucks and buying probably too many pumpkin spice lattes but the truth is you’re spending money whether or not you actually think about it. The app that we’re going to be talking about actually allows you to start making money doing nothing differently than you’re already doing right now you’ve probably heard of Warren Buffet.
He’s pretty well known for having made tens of billions of dollars doing one thing and that one thing is investing. Now many of us if not all of us know how important investing is we know that it’s one of the number one ways that we can actually grow our online income and grow our overall wealth. However, how many of us actually are actively investing? Even though everybody knows that you should be investing. It still takes so much time and energy to actually you know go out and invest your money with fine stocks. Do the research, feel comfortable actually investing your money but what if there is a way to have someone who knows a hundred times more than you about investing invest money on your behalf with literal no work on your part?
Acorns App
So the app that we’re going to be talking about today and the way that you are going to be able to make money online doing literally nothing is called Acorns. Acorns is an awesome way to automate investing for people who don’t want to spend their valuable time looking for investments and actually spending time making those investments. Basically how Acorns works is it will round up purchases you’re already making and automatically invest that money on your behalf in an investment strategy that you choose. If you want to be very safe and very conservative, they’ll do that for you and you’ll expect to earn a little bit less money but you’ll be able to sleep at night. Or if you’d rather be a little bit more risky with a higher potential for gain. Acorns will invest your money the exact way that you tell them to. Just an example to really hammer this home for the people like me who might not be too good at math if you buy something at Starbucks or McDonald’s or if you’re trying to be healthy; if you spend two dollars and seventy five cents for example Acorns will automatically round that $2.75 up to three dollars and then it will invest the difference on your behalf. Additionally, when you actually go about signing up for your free Acorns account it will ask you what type of investment strategy you feel most comfortable with.
If you want to go very safe, they’ll invest in over 7,000 stocks from their experts that do nothing else but invest your money for the maximum return in safe investment vehicles like Vanguard and index funds and things like that. Or if you want to have a higher potential gain you can invest in other stocks that might have a riskier portfolio that have a higher chance of either going down or going up by a larger percent.
Multiplier of 2X, 5X, 10X…
Acorns also has something pretty cool called the round up multiplier you can set it at 2x or 5x or 10x. Basically how that works is in our same example if we spent 275 it would round it up to 3 that’s 25 cents that acorns is going to invest on our behalf. If we set our roundup multiplier to 10x instead of being 25 cents it would be 2 dollars and 50 cents. If we want to be a little bit more aggressive on how much we’re actually investing with no work. Of course remember if we’re investing and if the market is going well which it has been for years we would be actively making money literally doing nothing not spending any time finding investment; not spending any time actually making those investments; not doing any research to evaluate the legitimacy of those investments.
Pumpkin Spice Anyone?
All we’re doing is buying our favourite pumpkin spice latte..:), and we’re making money to do it. The cool thing about Acorns is you can set up a recurring investment strategy if you want to invest things on a daily or a weekly or a monthly basis. Just to hold yourself accountable and save your money because I know for a lot of us we might struggle with saving money and instead of actually saving our pay check, we just go out and go to the club buy a Gucci shirt and all of a sudden we have no money in our bank
Acorns actually allow you to save that money on a schedule and it’ll invest it automatically on your behalf. This really starts to add up quickly Albert Einstein said that compound interest is the eighth wonder of the world and he who understands it earns it and he who does not pays it. If you understand that quote it’s really powerful even if you invest just a dollar a day that will start to add up very, very quickly as your investments start to go up right.
If you invest just a dollar a day that’s three hundred and sixty-five dollars a year. If you make a ten percent return on that money, you’re starting to make a significant amount as the years pile up. The more you invest every day or every week or every month the more potential gains you have. Another really cool feature about the Acorns app is what’s called the potential setting and what this basically is it will estimate how much your investment could be worth if you invested a certain amount at a specific time interval.
So for example if you invested 150 dollars per month, every month the potential setting would show you how much your investment could actually be worth in, what amount of time and with over 1.2 billion dollars with is actively being managed by Acorns. You know that they have some of the best people in the world actually taking care of your money because of course their business grows if the investment grows and so all of the incentives are aligned which is super important when it comes to investors.
Acorns publicly talks about how they have over 7,000 stocks and index funds and Vanguard and all these different investment vehicles that actually are very safe and if you look at them from a historical perspective have gone directly up over the years. Of course there are slight fluctuations up and down in any market and any investment but over time the investment strategy that acorns is implementing is the same one that people like Warren Buffett and some of the best investors of all time.
Referral to increase your income
Acorns completely free for college students and its only one dollar a month for its basic and most common plan. So even if you’re investing just one dollar a day, you’ll probably pay for the one dollar a month, a monthly fee just with the gains from your investment. So one of the coolest things about Acorns is if you actually use your referral link both you and your friend who you get to sign up get five dollars deposited into your Acorns account. So if you bring you know five friends you made $25 and last time I checked they pay up to two hundred and fifty dollars in referral bonuses. So if you go out there and you find 50 people to sign up to Acorns completely for free for college students, you can make two hundred and fifty dollars profit literally for spreading the word about an app.
That’s actually really useful and it’s going to be really helpful and make a lot of people a lot of money who might not otherwise spend their time and energy to invest their hard-earned money and watch that money grow through their investments.
Verdict
So I hope you enjoy reading about this post. I am basically now a convert!
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