Robinhood’s retirement accounts are finally here! In this video we open a Robinhood Roth IRA account, go over the benefit/ features, and make a purchase in our retirement account.

After years of Robinhood talking about adding retirement accounts, it’s finally here. Plus I am finally off the 500,000+ person waitlist to open my very own Robinhood retirement account! In this video we are going to setup our Robinhood Roth IRA account, go over first impressions of the new retirement section of Robinhood, talk about the features/benefits you should be aware of, and actually make our first purchase within our roth IRA account.

Earn up to $200 in free stocks signing up for Robinhood –

This video is great for anyone who is considering opening their own Robinhood retirement account with the traditional IRA or roth IRA. So let’s get started!

Video link to transferring retirement accounts (IRA, roth IRA, 401k, and roth 401k) from other brokerages (Vanguard, Webull, E-trade, etc.) into Robinhood – coming soon

Timestamps
0:00 – Intro to Robinhood Roth IRA Retirement
0:19 – Opening Robinhood retirement account
1:12 – Features & Benefits of Robinhood’s retirement account
2:13 – First Purchase in Robinhood Roth IRA
3:03 – Outro to Robinhood Roth IRA Retirement

#robinhood #retirementinvesting #retirementplanning #robinhoodinvesting

What are the actually retirement account features to be aware of?

One of the best new features is the 1% match on all deposits into your IRA. This is unheard to receive a match for a IRA account! It’s common to receive a match for other retirement accounts from your employer’s 401k, but a match hasn’t been done before with IRAs. The match is also instant, so you will receive it right away. In my example, I deposited $300 into the account and received the free $3 match right away, that I can then use to purchase stocks.

Some of the other features with Robinhood’s retirement accounts include; recurring investments, that you can set up to buy every day, week, or month, dividend reinvestment, otherwise known as DRIP, which let’s you take the dividends you receive and automatically reinvest in the stock you received it from. Lastly, you have the stock lending program, which is another way for you to receive money from Robinhood lending out your stock to other investors

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Robinhood Retirement Overview, Benefits, & First Purchase (Roth IRA)

When it comes to retirement planning, Robinhood is a great option. Robinhood is an online investment platform that makes it easy to invest in stocks, ETFs, and options with low fees and no account minimums. It also offers a retirement account option, the Robinhood retirement account, which makes it easy to save for retirement and take advantage of tax-advantaged investing.

The Robinhood retirement account is a Roth IRA, which is an individual retirement account (IRA) that offers tax advantages. With a Roth IRA, you can contribute after-tax money and your investments grow tax-free. This means that you don’t have to pay taxes on any of the money you withdraw from your account in retirement. Additionally, you can withdraw your contributions (but not your earnings) at any time without paying a penalty.

There are many benefits to the Robinhood retirement account, including no account minimums, no annual fees, and low trading fees. Additionally, Robinhood offers a variety of educational resources to help you make informed decisions about your investments.

When you’re ready to make your first purchase in your Robinhood retirement account, you’ll need to decide which type of investment you want to buy. The most common type of investment in a Roth IRA is a mutual fund or exchange-traded fund (ETF). Mutual funds and ETFs are collections of investments, such as stocks and bonds, that are managed by a team of professionals. These funds are a great option for retirement investors because they offer diversification and are relatively low-risk.

Once you’ve selected a fund, you can purchase it through the Robinhood app. You’ll need to select the “Retirement” tab, then the “Roth IRA” option. From there, you can search for the fund you want to buy, enter the amount you want to invest, and confirm your purchase.

With the Robinhood retirement account, you can easily save for retirement and take advantage of the tax benefits of a Roth IRA. With no account minimums, no annual fees, and low trading fees, it’s a great option for retirement investors. And with the easy-to-use app, you can make your first purchase in minutes.