Hey, guys so massive changed happened with acorns and I was not happy what so ever, because I’m going to get massive tax liability, and maybe you might too.

Also, I thought they made the change without telling customers, but they did send a small email. But I never saw it but I do it see in my mailbox today.

So I called acorns very upset and had a conversation explaining why I was not happy, but before I show you guys the call, I think it would be fair to explain a few things.

1. What happened:
– Basically, Acorns was made up of 7 investments
– And acorns sold of my holding in 6 of those and reinvested into 5 other investment
– Now the investments are still solid and in a way, even more, diversified.

But:
– If I knew about it prior I would transfer over my holding to another portfolio I have
– Because they sold over $19,833.81 of my holdings, and I they were between a 15-18% return for the year
– Meaning I have to short term capital gains tax on $2,975 ( which is going to be taxed as regular income because its short term, meaning a tax bill for me of around $773)

I know it doesn’t sound like a lot:
– But imagine If I had a portfolio size $500k-1M
– And that’s why I was upset, however, they did notify people
– I just never saw it

2. Overall in the End
– That’s was the call and you can tell I was pretty angry
– I felt like they did it just because of Blackrock
– And even they did, its still good investments ( I was just mad about not knowing that I got notified in a small email)

But Here is the truth:
– They even sold my Blackrock investments also
– So I don’t think that was it
– I think the big issue was, people are worried about their investments
– Let’s create a portfolio with much lower risk to help them in this landscape

However:
– That just turned me off, because we know that investing in acorns is for the long term, so short term gains don’t matter
– But it felt like in a way they bent a little and I didn’t like that
– The portfolio is still solid, I’ll still recommend it

* PRO TIP*
INFORMATION IS EVERYTHING

????1 on 1 Talk + My Budget + Stock Investments????
https://www.patreon.com/tommybryson

????Merch????
https://teespring.com/stores/tommybryson

✅2 FREE AUDIOBOOKS✅
https://amzn.to/2Enayo8¬¬¬

????M1 FINANCE $10????
Link: https://m1.finance/fQsrul1PZcHM

????ACORN FREE $5????
Link: https://acorns.com/invite/38EYSU

⚡FREE KINDLE UNLIMITED⚡ (traditional reading)
Link: https://amzn.to/2VGbxt9

????????‍????DISCORD PRIVATE GROUP????????‍????
https://discord.gg/EcZEHpA

My Camera Gear: https://www.amazon.com/shop/tommybryson

✔ Help Us Reach 250,000 Subscribers: https://goo.gl/0wvm6w

????All My Social Media????
Link: https://linktr.ee/tommybryson

*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

source