I want to invest in simple index based ETFs for long term. I am not a frequent trader. I have around $70000 in Robinhood. I have heard good reviews about Ally too. The question here is to place more money in Robinhood or not ? Given most of Robinhood users have pretty small amount like $1000 on an average invested through the platform. The clearing times are higher too. Should I invest any new money using Ally Invest for any reason or just keep adding money to Robinhood ?
Index funds r good. check vangaurd or robinhood for returns based on ur risk...Market is on peak. I won't recommend to put all ur money like lumpsum. always try to diverse based on ur target ... like some equity , bonds /cd and keep some buffer in money market to invest specially when u see dip in the market.....
Time in market beats timing the market 100% . Your logic id flawed. The market always keeps on hitting new “highs” thats the way it moves up over a long period of time. DCA works , but time in the market beats all of them. Look up statiscal studies done on this.
This is gonna be a long read. Hold on: Vanguard and Charles Schwab have long been recognised as the “Big Daddy” of ETFs / Mutual Funds. Both of them offer a list of excellent index-funds with no commision fees (that means they dont charge when you buy it) and very low Expense Ratios (ER for short) I went with Charles Schwab . Reason #1 is basically what I have said above. Reason #2 is that if you open a checking account with them (online, free, no fees whatsoever) , it comes with an in-built brokerage account as well( again FREE!) . You can use this vrokerage account to buy ma y of those excellent funds , set up a DRIP, pay ZER0 Fees. Now the checking account is excellent because the debit card you get with it has “No fees” cash withdrawal anywhere across the world. Ally limits this to $10 per statement cycle. I withdrew money abroad for Zero Fees. Its pretty well known! World class customer service as well. Read up online. Dont take me for granted. If you are a decent traveller (which if not already, i suggest you do before you die) , this checking account is a god-send. Also let me clear a few misconceptions. I have a six-figure amount in my Robinhood simply because i like to gamble with individual stocks and dont want to pay the fees per trading . Everything has its own purpose. Lmk if you are ok with Charles Schwab , if i refer you, you get $100 free in your account (i dont get anything out of it ). Use that money to add to yoir index funds !! Enjoy!
And I was surprised to see Robinhood even allows comm. free Crypto trading. Any reco on index funds in Charles Schwab?
Crypto is something i dont care , nor do i invest on. Money is much too hard to earn than to throw away. For schwab or anything else generally, you should stick to a 3-fund portfolio 1 domestic large cap 2 international large cap 3 high quality bonds Now if youre a young gun like me ( i am 29 but feel so old 😂) you have a lot of time for your money to grow. I wouldnt care about bonds for now. Its something you do when youre old like 45 or sth. Stick with US equity market. Dont bother with internationals especially be careful with Chinese markets. Any large US corp has some exposure to Chinese Market so youre sufficuently covered with just sticking with large cap US index funds I have 3 different indexes in my schwab SCHX SCHB SCHG All are US equities. Zero bonds. Zero emerging markets. I bet on US market. All commison free. All low ER. All DRIP. Enjoy and let the time aspect of money make you rich ! Edit: dont forget to reevaluate your portfolio once in a while. Add bonds when u r old
I use Motif, you can create your own fund or use existing Stock/ETF’s.
You can do that in m1finance for free
You don’t know how much money Robinhood users have on the platform. I don’t like Robinhood. I don’t use it. But there’s no need to manufacture “facts”
It's pretty well know that robinhood originally attracted first time investors with little money (I would bet median is still around low thousands). But things might have changed because no trading fees is very attractive for active investors with medium size pockets like OP.
Vanguard . I hate Robinhood , went in for crypto , but now out of everything, free trades don’t make things better, it makes you do bad decisions
Use Vanguard VTSAX. End of discussion.
Care to explain ?
Agree here. It's the best EV because of broad diversification and lowest cost.