Financial advice

Amazon / Product
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Amazon Product

BIO
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Apr 14 16 Comments

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?
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TOP 16 Comments
  • Microsoft
    Tier 1

    Microsoft

    BIO
    #1 in Prestige
    Tier 1more
    also contribute to your HSA. It’s the best type of tax advantaged account there is
    Apr 14 4
    • BluVector sparked
      Definitely this
      Apr 14
    • Oracle / Eng wpooh
      What about high premium?
      Apr 14
    • BluVector sparked
      An HSA centered insurance plan isn’t for everyone, but if you are in an insurance plan with an HSA you’re behooved to take advantage of it
      Apr 14
    • Oracle / Eng wpooh
      Agree with that ^^
      Apr 14
  • Oath / Mgmt Atinlay2
    Robinhood sucks. A says it

    Check out this post! "Using Robinhood for Investing (Money)"
    https://us.teamblind.com/s/4a3tYmvy
    Apr 14 3
    • Amazon / Product
      .🦔...

      Amazon Product

      BIO
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      OP
      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.
      Apr 14
    • Oath / Mgmt Atinlay2
      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.
      Apr 14
    • Amazon / Product
      .🦔...

      Amazon Product

      BIO
      🤐
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      OP
      I want to be convinced to make a switch. That’s why I looked up Merrill edge to see if it would be easy for me but don’t see an RoI doing that per my situation.FYI, I updated my post with more detail. And related to your restaurant analogy, I would totally go that restaurant if I love the food despite the bathroom being dirty 🙂
      Thanks for your inputs.
      Apr 14
  • Facebook public2
    Facepalm, hope this isn't real.
    Apr 14 1
    • Amazon / Product
      .🦔...

      Amazon Product

      BIO
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      OP
      What isn’t real?
      Apr 14
  • BluVector sparked
    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
    Apr 14 1
    • Amazon / Product
      .🦔...

      Amazon Product

      BIO
      🤐
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      OP
      I feel the same way.
      Apr 14
  • Google
    tsukino

    Google

    BIO
    w
    tsukinomore
    cost of borrowing too high
    Apr 14 1
    • Amazon / Product
      .🦔...

      Amazon Product

      BIO
      🤐
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      OP
      I see. I plan to set my limit until the “free” money line. I believe that is $2000.
      Apr 14
  • Microsoft
    Tier 1

    Microsoft

    BIO
    #1 in Prestige
    Tier 1more
    Robinhood is great for small accounts where you do frequent small trades.
    Apr 14 0

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