Edited post! Initial Q was if Robinhood Gold is worth it. I maintain $140k worth portfolio in stocks and ETFs and been on the Robinhood app for 2 years. I’m not into frequent trades yet and invest about $4k a month on FANG like companies and on random stock picks going by the app’s top stocks list and if 95% analysts rate buy. I’m a buy n hold person and never sold on the app. Additional details: 1. I have a 401K with Vanguard and plan to open an IRA roth account very soon. 2. I have a HSA account but don’t make any contributions. 3. $30K in crypto on Coinbase 4. $25K in checking accounts in Chase, CapOne and Credit Union 5. 40 AMZN RSUs in Morgan Stanley 6. Two credit cards with negligible balance 7. No mortgage / don’t own a home 8. Take home $9K How can I optimize, consolidate or improve? Show some free financial advisory love.
cost of borrowing too high
I see. I plan to set my limit until the “free” money line. I believe that is $2000.
I don’t bother with gold; seems like it mainly benefits those that are engaging more actively in day trading type activities; as a buy and hold guy it doesn’t seem worth it IMO
I feel the same way.
Robinhood is great for small accounts where you do frequent small trades.
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Robinhood sucks. A says it Check out this post! "Using Robinhood for Investing (Money)" https://us.teamblind.com/s/4a3tYmvy
That thread is not really helping. The primary focus there is about their failure in getting that checking account launched. It doesn’t bother me as they’ve added value to the market and currently command a $5B valuation. So, I don’t have a trust issue with them. I’m looking for quant evidence that says one is better off investing $X with trader A v/s Robinhood. I currently maintain $140k in Robinhood spread in stocks, ETFs. I don’t have Bank of America accounts and the Merrill edge plan requires 3 month history. Also, I may have to pay taxes if I take out money from Robinhood. Do I have any other options to optimize? I plan to invest around $4K every month and don’t do trades.
It sounds like you can’t be convinced then. Why post at all? When you have seen how these places cut corners, you can’t trust them with anything. It’s like a restaurant with a dirty bathroom. Dirty bathroom = almost always a dirty kitchen.