Later

Why should I invest in an IRA?

Legendary investor, Warren Buffett said, "The most important investment you can make is in yourself." We agree. IRAs can help you save for retirement without all of the tax implications of other types of investments. When you join Acorns Later, we'll help you determine the best course for you....
Is Acorns Later an IRA?

Yes. Acorns Later is an IRA, which stands for Individual Retirement Account. We’ll automatically select the right type of IRA for your lifestyle and goals, each offering distinct tax advantages and eligibility....
How much money do I need to open an Acorns Later account?

Acorns was founded on the principle, "From acorns mighty oaks do grow." Just as with our investment accounts, you can begin investing with just $5....
Do I have to be an Acorns Invest customer to start an Acorns Later account?

If you’re a new customer, you’ll be able to sign up for our most popular subscription tier, Acorns Personal. This includes Acorns Invest, Later, and Spend. Acorns is designed as a system that helps you save, invest, earn and grow the most when you use all of our automated tools tog...
Can I withdraw or transfer my money whenever I want?

Yes, you can withdraw your money at any time. Be aware that with any IRA, there are tax implications for early withdrawals or transfers before you retire. If you can, keep your funds invested for the long term. From the mobile app or website, navigate to your Acorns Later account and tap...
Why do we call this Acorns Later?

Because 'retirement' doesn't mean what it used to for a lot of people. It used to be something you could count on — and when it came, you were going to pursue what you love. Today, many don't believe they will retire, and others are doing what they love now. So we’ll call it Acorns...
How do I make an IRA contribution?

There are a few ways to contribute to your Acorns Later account. If you’d like to make a contribution, first make sure that your primary bank account, which we call your Funding Source, is linked to your Acorns Later account. Recurring ContributionsTo set up a Recurring Contribution...
How is my portfolio selected?

Your portfolio is selected based on your age and the time until you reach “retirement age,” which is currently 59 ½ years old according to the IRS. Over time, this calculation naturally changes, so we automatically rebalance your investments. For example, as you grow closer ...
Can I roll over my existing 401(k) or IRA to Acorns Later?

Yes, you can. Rolling existing plans over to Acorns Later is a good way to get the most out of our portfolio allocations. It’ll also consolidate your investment accounts and potentially save on management fees. If you're interested in rolling a plan into your Acorns Later account, contac...
How Do I Close My Acorns Later Account?

To close your Later account: For Mobile: After logging in to your account, tap the menu (avatar) in the upper left corner of the screen Tap "Settings" Tap "My Subscription" Tap "Close account" and we'll guide you through the process For Web: After logging in to your account, click on the me...
Why can’t I have someone other than my spouse as my beneficiary?

If you live in a community property state (Louisiana, Arizona, California, Texas, Washington, Idaho, Nevada, New Mexico, and Wisconsin) and you want to designate someone other than your spouse, you will need to have your spouse sign a notarized document. You can contact Acorns Support&nbs...
Will I Be Exempt from IRS Penalties on Early Withdrawals from my Later Account?

There are tax implications (generally a 10% penalty and possibly income taxes and other penalties) for early withdrawals from an IRA, but sometimes the IRS will waive a tax penalty for early withdrawals. We’ve listed some of the exceptions below. The IRS also talks about this here. Pleas...
What's an IRA?

IRA stands for Individual Retirement Account, and they have lots of tax advantages over traditional savings accounts. Acorns Later offers 3 IRAs - Traditional, Roth and SEP. When you open an Acorns Later IRA, we automatically select the right IRA plan for your lifestyle and goals. To learn mor...
How much does Acorns Later cost?

The Later account is part of our Personal ($3/month) tier. When you sign up or upgrade your account, you will be able to set up the Later account if you are on a tier that offers it. Prior to May 20, 2020, Acorns offered a separate tier for just Invest and Later, but now is part of our Persona...
Can I change my IRA type?

We automatically select the right type of IRA for your lifestyle and goals, each offering distinct tax advantages and eligibility. If you would like to discuss changing your IRA type, please contact Acorns Support....
How do I cancel an Acorns Later pending contribution?

In order to cancel an Acorns Later pending contribution, please visit your Acorns Later account and select “View All” under Recent Activity. From here, tap on the transaction that you would like to cancel and select the Cancel button in order to stop that transaction. Please ...
How do I withdraw funds from Acorns Later?

With any IRA, there are often tax implications for early withdrawals or transfers (generally a 10% penalty and possibly income taxes and/or other penalties). You can learn more about the specifics from the IRS website here. To withdraw your Acorns Later funds, please follow these steps: ...
Can I have an Acorns Later account if I live in a US Territory?

To have an Acorns Later account, you must have taxable United States income. This includes bonuses, side hustles, alimony and any other forms of taxable income. Without income that is taxable by the United States, you do not qualify for an Acorns Later IRA....
How do I set up a Later Account?

Acorns Later is only available in the Personal ($3/month) or Family ($5/month) subscription tiers. To open an Acorns Later Account, follow the below steps: For Mobile: After logging in to your account, tap the "Set up" button next to "Later starts today" Tap "Next" Answer the survey que...
How do I set up a beneficiary for my Acorns Later account?

To set up a beneficiary for your Acorns Later account, please take the steps below: Log in to your Acorns account Tap on "Later starts today" Tap on "Beneficiary" Enter the information for the person you'd like to designate as your beneficiary (Please note your beneficiary must be at least 18...
How much can I withdraw from my Later account?

You are able to withdraw from your Acorns Later account at any given time; however, the maximum withdrawal limit per transaction is $50,000. With any IRA, there are often tax implications for early withdrawals or transfers (generally a 10% penalty and possibly income taxes and/or other penalti...
How do I find out how much I’ve contributed this year?

This is provided for informational purposes only. Acorns does not provide tax or legal advice. You should consult with a tax or legal professional to address your particular situation. To find out how much you’ve contributed to your Later account, log in here to your statements screen us...
Can I make a prior year contribution for Acorns Later?

This is provided for informational purposes only. Acorns does not provide tax or legal advice. You should consult with a tax or legal professional to address your particular situation. You can make a prior year contribution from January 1 up to when you file your income taxes. Wait. What&rsquo...

Why should I invest in an IRA?

Is Acorns Later an IRA?

How much money do I need to open an Acorns Later account?

Do I have to be an Acorns Invest customer to start an Acorns Later account?

Can I withdraw or transfer my money whenever I want?

Why do we call this Acorns Later?

How do I make an IRA contribution?

How is my portfolio selected?

Can I roll over my existing 401(k) or IRA to Acorns Later?

How Do I Close My Acorns Later Account?

Why can’t I have someone other than my spouse as my beneficiary?

Will I Be Exempt from IRS Penalties on Early Withdrawals from my Later Account?

What's an IRA?

How much does Acorns Later cost?

Can I change my IRA type?

How do I cancel an Acorns Later pending contribution?

How do I withdraw funds from Acorns Later?

Can I have an Acorns Later account if I live in a US Territory?

How do I set up a Later Account?

How do I set up a beneficiary for my Acorns Later account?

How much can I withdraw from my Later account?

How do I find out how much I’ve contributed this year?

Can I make a prior year contribution for Acorns Later?