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3% IRA, Old 401k, Roth IRA Match with Robinhood Gold. - $3000

$3,000.00

-9 Deal Score

3,252 Views 16 Comments

Earn up to 3%* extra on every dollar you contribute to your IRA when you subscribe to Robinhood Gold. IRA transfers and 401(k) rollovers also earn 3% until April 30.

https://robinhood.com/us/en/about/retirement/

3% IRA, Old 401k, Roth IRA Match with Robinhood Gold. - $3000

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Created 01-17-2024 at 03:22 PM by hi4700

in Finance (3)

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Deal
Score -9

3,252 Views

16 Comments

$3,000.00

Get Deal at Retailer

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Eragorn | Staff

Joined Sep 2011

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Eragorn | Staff

01-17-2024 at 03:27 PM.

Still can't forgive robinhood for gamestop.

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Imallvol7

Joined Nov 2008

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Imallvol7

01-17-2024 at 04:02 PM.

Is there any reason to trust them.

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cheeknowe

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cheeknowe

01-17-2024 at 04:33 PM.

Our community has rated this post as helpful. If you agree, why not thank cheeknowe

01-17-2024 at 04:33 PM.

Unfortunately, you have to subscribe to Robinhood Gold, which is $75/year, and you have to keep the money in for 5 years, or else they claw back the matching.

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TooLitty

Joined Dec 2010

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TooLitty

01-17-2024 at 08:32 PM.

Quote from cheeknowe

Unfortunately, you have to subscribe to Robinhood Gold, which is $75/year, and you have to keep the money in for 5 years, or else they claw back the matching.

well said you've done some terms and conditions digging, great work

came here to see exactly this. who knows where robinhood will be in 5 years time

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PaulPats

Joined Nov 2006

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PaulPats

01-23-2024 at 11:03 PM.

I ended up moving my Roth IRA over to take advantage of this deal and the 3% match on the transfer was credited immediately. Blazing hot deal, thanks

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TexusSooner

Joined Dec 2016

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TexusSooner

02-07-2024 at 04:35 PM.

Such a gamble.

$3,000, for example, is $23,000 in 30 years at 7%.

You also have to figure, let's say a Robo advisor at 0.50% on $100,000… that robo advisor is $500/yr also. So that clawback if you leave in 3 years is more like $900 after earnings. But if your current advisor is more than a Robo advisor you'd recoup this even quicker.

Chancing losing $900 if you move it early vs an upshot of $23,000 in that situation is one of the better investment decisions you'll make

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Last edited by TexusSooner February 7, 2024 at 04:51 PM.

VirginiaBob

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VirginiaBob

03-08-2024 at 11:42 PM.

Great for retirees with large accounts that set and forget and withdraw 3% per year for living expenses. That's like a free year of income. Not to mention the 5.25% return on the cash account. Decent fixed income.

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sdsu

Joined May 2009

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sdsu

03-10-2024 at 08:00 PM.

Not so good with finances, is it better to move my adp to this Roth IRA ?? Any advice??

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xZero

Joined Mar 2006

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xZero

03-31-2024 at 07:26 AM.

I mostly use Vanguard target date retirement funds, would these still be offered on Robinhood? If they are, are the expense ratios the same?

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d_malt

Joined Mar 2009

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d_malt

03-31-2024 at 07:34 AM.

Quote from xZero

I mostly use Vanguard target date retirement funds, would these still be offered on Robinhood? If they are, are the expense ratios the same?

You can't transfer mutual funds into a Robinhood IRA, I asked.

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famewolf

Joined Dec 2007

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famewolf

03-31-2024 at 07:43 AM.

Quote from VirginiaBob

The usual "rule" for retiree's is 4% and some articles now claim that's not enough due to inflation.

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famewolf

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famewolf

03-31-2024 at 07:44 AM.

Quote from xZero

I mostly use Vanguard target date retirement funds, would these still be offered on Robinhood? If they are, are the expense ratios the same?

Any articles you can point to that discuss which of these to use for folks already retired?

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Price2773

Joined Dec 2019

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Price2773

04-06-2024 at 06:48 PM.

Quote from Imallvol7

Is there any reason to trust them.

Yeah they're federally insured. Only tinfoil hat wearers wouldn't trust this

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TakinCareofBizniz

Joined Jul 2009

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TakinCareofBizniz

04-06-2024 at 06:52 PM.

Quote from VirginiaBob

My uncle is about to retire and he's got 1.5 in his company's 401k account. They told him he can roll it over where he wants. Is Robinhood really gonna give him $45k just to roll it all over there? That's crazy!!