Robinhood announced this week that they’re coming out with both traditional and ROTH IRA’s that come with a 1% match! Is Robinhood’s 1% Match Retirement Accounts Worth it?
AS ALWAYS THIS IS NOT FINANCIAL ADVICE!
Retirement accounts are some of the best way to build wealth out there. You know it’s worth using when the government restricts how much money you can put in per year. Just like a Robinhood change the game with commission free trading, they’re at it again!. Today we talk about Robin Hood‘s one percent IRA match accounts. This includes a traditional and Roth IRA option. I answer some of the main questions that I had when I saw this announcement. Does the match count towards your contribution limit? Who would benefit from using this Roth IRA? And finally what does Robin Hood have to game from a situation like this? I answer all of these questions in the video and I hope you learn something from it. Do you plan on using Robinhood retirement accounts for the future? Or is this just a gimmick to keep people on Robinhood app. Thanks for watching!
Chapters:
0:00 Robinhood Announces Retirement Accounts with 1% Match
0:52 Does Robinhood IRA Match count against your contribution limit?
2:05 Does Robinhood do retirement accounts?
3:50 How much money will 1% Match Make You?
5:25 Who will use Robinhood’s IRA retirement accounts?
Tags in case this does anything:
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Are you going to try out Robinhood's retirement accounts now that it has a 1% Match? Free money or not worth it? Let me know what you think!
From Robinhood *Contributions must come from an external source and the match is capped at the annual IRS limits for contributions.
I am sorry I use to love robinhood so much and they left me down so many bad news I just went back to my acorn stay with the sp500 at the same time I have my retirement Ira also there and my round ups connects to my bank it doesn’t make me go out of my way buying different stocks just stay consistent and no drama or bad news like robinhood
I have a 403b at work and a traditional. I dont max out on either account. Am I allowed to have both?
Are the retirement accounts have the ability to use robinhood gold (with 3.75% for cash)?
I agree with you. This is tricky. If they are insured then it should be OK to test it out… Idk.
Regulators don't seem to trust Robinhood (and they don't catch much malfeasance) , is it wise for retail investors to???
Feel like its hard to trust the app anymore