The middle class is often told to start by investing what they’d otherwise spend on a latte. If you put $3 a day aside, you’d have more than $300,000 in 50 years, goes the refrain.
Not many people in the US are listening.
Over a third of Americans spent more on coffee last year than they invested, according to a survey of 3,000 Americans aged 18-44 by Acorns, a California-based company which helps people invest in tiny increments. Getting people without much money to invest small amounts for their own good later on turns out to be much harder than people thought it would be.