I am planning to invest in Index funds through robinhood(FDN, VOO, VOOG). I was going through some earlier discussed topic and read that it might result in complicated tax calculation. Can someone please share their experience on the pros and cons. I’m thinking to invest a small portion of my paycheck every month and the plan is to save up for a house down payment in 3-5 yrs.
Use Vanguard, they have free commission for most ETF and VTSAX
Use robinhood for stocks. Use vanguard, fidelity, or schwab for index funds
Robinhood is FDIC insured for upto $250,000. So your money is secured. Now if the equities you buy go down in value, that is on you.
Robinhood has the same level of federal insurance as any bank.
Don't use Robinhood for any serious amount of money if you have a family as they do not support naming a beneficiary. If something happens to you your family will not instantly get the money as in any other broker and when they do a huge chunk will go to probate fees. If you are investing play money go ahead it doesn't matter, but if you are putting in over 100k or so many brokers will give you free trading and have much better service.
Tech Industry
Yesterday
2207
I’m Sooo Happy about Biden signing TikTok ban bill today!!
Tech Industry
Yesterday
3034
Avoid teams with only Chinese or Indians especially with a Chinese/Indian manager
Tech Industry
2d
40791
Worried that our top performer is an attrition risk. How do managers handle this?
India
Yesterday
253
Heard congress distributing wealth
Tech Industry
Yesterday
1016
I haven’t done shit today!
Fuck Robinhood, use Vanguard.
Fuck Vanguard, use Robin Hood