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Our Rich Journey – Robinhood’s New Retirement Accounts (IRAs) – Exposing the Truth – Robinhood is now advertising investors’ ability to begin investing in IRAs on the Robinhood platform. Not only that, but Robinhood is incentivizing investors to contribute to these accounts by providing investors with a 1% match when they invest in an IRA with Robinhood. But . . . is there a catch? Is investing in IRAs with Robinhood a good thing OR is it something that you should be skeptical about? In this video, we discuss our thoughts on Robinhood’s new retirement accounts!
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Financial Norms Destroying Your Wealth – We Broke Them to Retire at 39 As Millionaires:
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LEARN MORE ABOUT: IRA Accounts
INVESTING IN A GOLD IRA: Gold IRA Account
INVESTING IN A SILVER IRA: Silver IRA Account
REVEALED: Best Gold Backed IRA
As a popular stock trading app, Robinhood has recently released a new retirement account, the Robinhood IRA. This new account allows users to invest in a variety of stocks, ETFs, and cryptocurrencies. The account is designed to be an easy, low-cost way to save for retirement.
Although the Robinhood IRA has some advantages, it also has some drawbacks that are important to consider before investing. One of the biggest drawbacks is that the account does not offer any tax advantages. The account is not tax-deferred, meaning that all of the investments made in the account are subject to capital gains taxes. This means that investors may end up paying more in taxes than they would with other retirement accounts.
Another issue with the Robinhood IRA is that it does not offer any of the tax-advantaged options that other retirement accounts offer. This means that investors cannot take advantage of tax-deferred contributions, catch-up contributions, or other tax benefits that are available with other retirement accounts.
Finally, the Robinhood IRA does not offer any of the investment options that are available with other retirement accounts. The account does not offer bonds, mutual funds, or other investments that can help diversify a portfolio. This means that investors are limited to investing in stocks, ETFs, and cryptocurrencies.
Overall, the Robinhood IRA is a great option for those who want to start investing in stocks, ETFs, and cryptocurrencies. However, it is important to consider the drawbacks of the account before investing. The lack of tax advantages, investment options, and other features means that the Robinhood IRA may not be the best option for those who want to save for retirement.
they are right about the constant notifications from the Hood… it’s annoying.
In Robinhood, if you want to invest in bonds, you can purchase shares in bond based ETFs such as:
JNK-SPDR Bloomberg High Yield Bond ETF
VCIT-Vanguard Intermediate-Term Corp. Bond ETF
Just name two, but there are more.
If mutual funds are your teacup, you can invest in mutual fund based ETFs, such as:
IVZ-Invesco
Robinhood let me buy stocks without fees ( yes, 2 cents is like free, compared to 7 dollars per transaction). With Robinhood's help, I learned a lot about stocks and the economy. I never felt that Robinhood gamified anything, but they did make it very user friendly to operate. Robinhood always warns people, that investment is risky, and sometimes can be extremely risky. Investments that are risky and also user unfriendly is even worse in my opinion. Go Robinhood!
After the shit they pulled with GameStop, I wouldn't be so quick to be promoting this.
You guys ever went into a brook and mortar bank? these the type peoples you will see in the bank you will never see a young person going to the bank
I’m with td ameri trade I’m new just funding and want more education do you recommend a different company
Noone else gives 1% and 60 dollars over time 20..30..40 yrs ots gonna be a lot of money. Come on now lol
Looking at the charts, today’s market does seem like a game
Robinhood is easier to use. But God schawb fidelity etc have such shitty interfaces its a pain to use.
4% intrest is unmatched
Robinhood is dope. Better than the garbage banks that charge a high maintenance fee for no reason.
I have my retirement accounts with Fidelity, but I use Robinhood for brokerage account. “Gamification” notwithstanding, I find their user interface far more useable than Fidelity. I understand the fact that I’m dealing with real money with real implications, so the alerts/notifications don’t really affect me. I get all my information from sources outside of the app.
Wow! I think I'll stick with my Fidelity account then. I was thinking the same thing of them having a shady way of making back that 1 percent match offering.
You guys are right about trading and Robinhood
If Robinhood made it a 3%-5% match I might be interested but a 1% match is $65. Doesn’t seem significant.
Fidelity customer service is 5 stars plus they answer questions a beginner may have.
Good video, did you know you can invest ETF’s like Vangaurds s&p 500 index fund (VOO) and it’s Bonds ETF (BND) on brokerage and IRA accounts. It would be the same as investing in a mutual fund or index fund
Start a IRA with RH. Collect the 1% bonus. Then rollover after the 5 year vesting period.
FUD.
Robinhood is just so user friendly I'm doing it
There is a reasn why you guys are millionaires snd retired early. You know this stuff.