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My own review and journey with ACORNS




My own review and journey with ACORNS


Mindset:
  • to be able to save and invest into a diversified portfolios of ETFs with less requirements, with as little as $5 and less clicks  from your mobile devices.

Requirements in account opening:

  • funding account (BSB and account number or user login)
  • spending account (optional only if you want to have the Roundups function for 'spare change' feature)
  • setting of a profile

Personal profile
  • full name
  • address
  • mobile number
  • email
  • PIN
  • Password
  • TFN (Can be supplied at a later date)

Financial profile (this will enable the app to choose the portfolio that is suitable for you)
  • employer
  • type of work (full-time or whatever)
  • approximate net wealth
  • investment time horizon
  • yearly income
I was able to open an account in less than 10min without providing documents. I made an initial contribution of at least $5.00 and have chosen 'moderately aggressive' portfolio (I can change this anytime as there are no switching fee)

They confirmed my account creation later on via email.

What I made as my initial funding account was my CBA account and using my user credentials such as login name and password.
I also setup initially as my spending account the same CBA account but this time, since I have several accounts, I chose my credit card.



Later on, out of curiosity, I tried to change my funding account to my Ubank Debit account (not the savers account) and have used the BSB and account number and not the Debit Card number. I decided to use this account since it has the 'sweep' mechanism where it will pull funds from the linked Usaver account. Also, for those that are familiar with UBank, even if overnight sweep is disabled (objective is to not maintain any amount in the Debit Account to maximise the interest on the Usaver account), the amount should be automatically debited from the linked Usaver account.

For the first 2 weeks, I tried and have successfully done the 3 different methods to fund my account:
  1. Made credit card transactions and set up automatic roundups
  2. Lumpsum deposits
  3. Recurring deposits (Acorns have daily, weekly and monthly)

In addition, reading further about the PDS, below are the features and benefits.

The significant features of the Acorns Grow Australia Fund are: 

  1. Micro investing 
Acorns is a micro-investing product designed to make investing and saving simple. Acorns is offered through a mobile or web-based App and you can apply for an Acorns Investment Account with just $5.00. 

  1. Investment Portfolios 
You can choose a Portfolio into which your Acorns Investment Account will be invested. The Portfolios have been constructed by a team of financial industry experts, and a Nobel prize-winning economist. Each Portfolio is comprised of ETFs that are quoted on the ASX. 

  1. Interests in a Managed Investment Scheme 
Your Acorns Investment Account is an interest in a registered managed investment scheme, being the Acorns Grow Australia Fund 

  1. Fractional investing 
One of the key features of Acorns is the ability to allocate fractional interests in ETF Units to individual Investors. The Acorns system will facilitate the purchase of the relevant number of ETF Units required across the Fund, and allocate fractional interests in these ETF Units to individual Investors, corresponding to the amount of funds they have invested in their Selected Portfolios. The whole ETF Units themselves will be held in a pooled account with the Custodian on behalf of all Investors who have been allocated a fractional interest in that ETF Unit. Excess fractions will be held in a "house account" for and on behalf of Acorns Australia as principal. Fractional interests allow you to consistently invest funds (including your virtual spare change) as it becomes available, rather than having to wait until you have enough money to buy a complete ETF Unit. 

  1. Withdraw at any time 
You can request a withdrawal of all or part of your investment from your Acorns Investment Account at any time. We will dispose of sufficient Investments in your Acorns Investment Account to pay the withdrawal proceeds in cash within 5 Business Days. There are no fees or penalties for cash withdrawals. Some withdrawal requests may be subject to rounding. 



The significant benefits of the Acorns Grow Australia Fund are: 

  1. No switching fee 
Acorns does not charge switching fees if you change your Selected Portfolio. So you can change Selected Portfolios without paying extra fees or brokerage (see Transaction Costs on page [xx] for an explanation of applicable buy/sell spreads). 

  1. No trading fees 
Acorns does not charge fees for making contributions into or withdrawals from your Acorns Investment Account. Acorns also does not charge any brokerage, trading or transaction fees for purchasing the ETF Units that are allocated to individual investors. 

  1. Regular savings 
Acorns is based on the principle that regular investment, even if in small amounts, can lead to large savings over time. You can contribute to your Acorns Investment Account frequently (at no additional cost) by enabling RoundUps, or by setting automatic recurring deposits. Small change can add up over time.


The Fund and the Portfolios


The Acorns portfolio is purposely simple: Your money gets spread among six basic index funds. The weighting in each fund depends on your risk profile, which you can dial up or down on your iPhone. More aggressive settings put more money in stocks. But you always have some money in each fund, remaining diversified among large and small company stocks, emerging markets, real estate, government and corporate bonds.


Acorns simplified the often tedious and complex process of investing. But that doesn’t mean the investment strategy is any less sophisticated. The portfolios were designed with help from Dr. Harry Markowitz, a Nobel Prize winning economist, who is commonly referred to as the father of modern portfolio theory

“Investing in a broadly diversified portfolio for the long term is the right choice for most people,” Dr. Markowitz said in a statement. “Acorns enables this to happen automatically in tiny increments with minimal cost. This has the potential to help people across all demographics.”

Start investing with Acorns today! Get $5 when you use my invite code: 
app.acornsau.com.au/invite/XD8VBS





REFERENCES:





 Performance as of 22/April/2017

Novated Leasing: End Of Lease Options




END OF LEASE OPTIONS FOR YOUR VEHICLE 

The options available to you at the end of the contracted term of your novated lease are:

1. Offer to purchase the vehicle for the residual value inclusive of GST

2. Trade-in the vehicle with a dealer who will pay out the residual value inclusive of GST any surplus funds in excess of this amount are retained by you

3. Arrange to lease the vehicle for a further period of time


Scam Warning by Australian Department of Immigration and Border Protection

We are aware that some ETA (Electronic Travel Authority) applicants have used a scam site claiming to be the Department of Immigration and Border Protection. Please ensure you always use our official site when applying for your ETA: www.eta.immi.gov.au

Australian Department of Immigration and Border Protection



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A Pinay nabs silver, first PH Olympic medal in 20 years



Photograb from Rappler

MANILA, Philippines – On Sunday, August 7, a rainy Monday morning in Manila, August 8, while most of the Philippines was fast asleep, Hidilyn Diaz proudly climbed up the podium to receive her shining silver medal.

On her third – and possibly her last - run at the Olympics, the 25-year-old Diaz was ready, focused, determined, but also calm. She was learned and more mature. So much so that even before reaching Rio, Diaz was already at peace with whatever fate awaited her Rio de Janeiro, Brazil.
Her wisdom and composure shined when she climbed out of 6th place in the snatch lift, and performed smoothly during the clean and jerk.

A bronze was expected after her second lift, but after China failed to record a lift in the clean and jerk, the door became wide open for Diaz to climb a spot higher at the podium.
After her first clean and jerk lift, Diaz was smiling ear to ear. After her second lift, Diaz went straight over to hug her coach, Alfonsito Aldanete. And when all was said and done, Diaz, a child of Zamboanga City, was in tears.

Novated Lease Early Termination / Payout Schedule Calculator




The following excel sheet may also be useful to get a glimpse of  your payout schedule each month as well as the amount should you wish to early terminate your lease. Please note though that this is only for comparison. The formula's used in this file may be different from that of your novated leasing company.

Novated Lease Calculator - UPDATED!





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The following excel sheet may also be useful to get a glimpse of  your payout schedule each month as well as the amount should you wish to early terminate your lease. Please note though that this is only for comparison. The formula's used in this file may be different from that of your novated leasing company.

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