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forum threadhi4700 posted Jan 17, 2024 11:22 PM
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forum threadhi4700 posted Jan 17, 2024 11:22 PM

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

$3,000

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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/
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About the Poster
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/

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21 Comments

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Pro
Deal Hunter
Jan 17, 2024 11:27 PM
19,947 Posts
Joined Sep 2011
Eragorn
Pro
Deal Hunter
Jan 17, 2024 11:27 PM
19,947 Posts
Still can't forgive robinhood for gamestop.
1
Jan 18, 2024 12:02 AM
812 Posts
Joined Nov 2008
Imallvol7Jan 18, 2024 12:02 AM
812 Posts
Is there any reason to trust them.
1
Pro
Jan 18, 2024 12:33 AM
1,976 Posts
Joined Oct 2005
cheeknowe
Pro
Jan 18, 2024 12:33 AM
1,976 Posts

Our community has rated this post as helpful. If you agree, why not thank 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.
3
2
Jan 18, 2024 04:32 AM
98 Posts
Joined Dec 2010
TooLittyJan 18, 2024 04:32 AM
98 Posts
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
1
Jan 24, 2024 07:03 AM
1,237 Posts
Joined Nov 2006
PaulPatsJan 24, 2024 07:03 AM
1,237 Posts
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
Feb 08, 2024 12:35 AM
558 Posts
Joined Dec 2016
TexusSoonerFeb 08, 2024 12:35 AM
558 Posts
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
Last edited by TexusSooner February 7, 2024 at 04:51 PM.
Mar 09, 2024 07:42 AM
998 Posts
Joined Dec 2005
VirginiaBobMar 09, 2024 07:42 AM
998 Posts
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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Mar 11, 2024 03:00 AM
276 Posts
Joined May 2009
sdsuMar 11, 2024 03:00 AM
276 Posts
Not so good with finances, is it better to move my adp to this Roth IRA ?? Any advice??
Mar 31, 2024 02:26 PM
105 Posts
Joined Mar 2006
xZeroMar 31, 2024 02:26 PM
105 Posts
I mostly use Vanguard target date retirement funds, would these still be offered on Robinhood? If they are, are the expense ratios the same?
Mar 31, 2024 02:34 PM
29 Posts
Joined Mar 2009
d_maltMar 31, 2024 02:34 PM
29 Posts
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.
Mar 31, 2024 02:43 PM
6,232 Posts
Joined Dec 2007
famewolfMar 31, 2024 02:43 PM
6,232 Posts
Quote from VirginiaBob :
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.

The usual "rule" for retiree's is 4% and some articles now claim that's not enough due to inflation.
Mar 31, 2024 02:44 PM
6,232 Posts
Joined Dec 2007
famewolfMar 31, 2024 02:44 PM
6,232 Posts
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?
Apr 07, 2024 01:48 AM
19 Posts
Joined Dec 2019
Price2773Apr 07, 2024 01:48 AM
19 Posts
Quote from Imallvol7 :
Is there any reason to trust them.

Yeah they're federally insured. Only tinfoil hat wearers wouldn't trust this
Apr 07, 2024 01:52 AM
506 Posts
Joined Jul 2009
TakinCareofBiznizApr 07, 2024 01:52 AM
506 Posts
Quote from VirginiaBob :
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.
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!!
Last edited by TakinCareofBizniz April 6, 2024 at 06:56 PM.

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Apr 11, 2024 07:15 PM
23 Posts
Joined Feb 2023
ScarletMustang4542Apr 11, 2024 07:15 PM
23 Posts
3% match is only good for initial deposit of rollovers for 1 year, then it reverts to 1%. Additional yearly contributions will earn the 3%. Meh.

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