CBS News for Acorns

September 2, 2014

Poverty used to be a good excuse to put off opening an investment account. After all, if you want to buy just one share of Apple (AAPL) stock, it will set you back about $109.50 — $102.50 for the share and $7 to trade. And most mutual funds require minimum initial deposits of $500 or more.

No longer. A Newport Beach-based company called Acorns has developed an automated investment system that turns micro-deposits into real savings. If you have an iPhone and a credit or debit card, you can invest in a smart and widely diversified portfolio with nothing more than pocket change

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