Major disadvantage of IRA is the liability it opens you up for since there isn’t the ERISA protection like there is with almost all 401ks. ERISA protected 401ks are exempt to a very high amount in the 7 figures where IRAs are exempt for less than 100k. This protection is very important for several reasons such as bankruptcy, lawsuit, taxes and many other issues this opens you up for.
I don't think your selections are bad at all. Solid core with a US market, international market, two high dividend holdings and 9-10% bonds. I dont see why there are comments hating on it. 🤷🏻♂️ I'm enjoying the vids man!
Hmm. I tried, but there is no solo 401k to open?? That's important because you can make much larger contribution to a self employed 401k, but all I see available to open in traditional IRA and Roth..no SEP no solo 401k. Am I missing something.
Another question, cash not invested. You invest 30% in ET F A, 20% each in B and C. You want to research more on what do with your remaining funds. On the brokerage side your cash is earning interest, what happens on the IRA side? Sort of related, you don't want to reinvest your dividends, can you hold these in cash?
In the past 24 hours I completed moving my account from Vanguard to Robinhood. One thing that would have been helpful in your video would have been to show people the process that you go through when initially setting up the investments. It's far from complex, but a tutorial would be helpful so you know what to expect right from the beginning.
Discovered your channel not too long ago. Great content so far and really enjoy your videos diving into robinhood. Looking forward to starting an IRA with this match!
Did you happen to look at their fee schedule? It looks like there are no free options to withdraw funds, with a bank transfer hit with a 1.75% fee. If that was the only option, that would wipe out most of the benefit of this promo. Am I reading that right?
Are you able to invest your funds using that % in Robinhood, similar to how a % gets allocated to slices in your pie in M1 finance? That's what's holding me back of moving over.
It’s very similar, you pick a dollar amount for each of the things you pick. Future contributions? I don’t know but think you just pick them again in the same proportion. But I don’t think it’s automatically fixed like M1’s pies
1 minute and 25 seconds in.... what?? i had robinhood pull my IRA from Vanguard.. gave them my account number...broker name and what assets i wanted transfered and that was it... no paper work, no making account beforehand took 5 mins tops. crazy.
@brendanevan how long did it take to show? I also did a transfer and my average cost doesn’t show for anything. No loss/gain performance available for me
If you no longer work for that company you can go into Robinhood and go to transfer account and transfer your previous employers account over to Robinhood. It will ask you basic questions like account number etc.. If it's a 401k account and you still work there I don't believe you can. But once you leave a job you can convert a 401k to a Traditional IRA account. So when it would transfer from Fidelity it would transition to a traditional IRA account at Robinhood. For Fidelity you may have them convert it to a traditional IRA at fidelity and then transfer that Traditional IRA account to Robinhood
I have robinhood gold already. I'd like to transfer my wife's IRA into robinhood to get the match. Does SHE have to also be a gold member? Robinhood support has been unavailable for the last week that I've been trying to contact them
From what I understand the person who has the IRA needs to be the same person opening the account at RH. Check their FAQ but I think I remember reading that
is that small % worth having no customer support tho Something major happens to your acc and all you will have is email support brother, No phone to call, no bank to visit, no broker to kiss
@@Ciborium it’s a poorly managed account by a govt agency. I’d rather get it moving in faster lanes and be under my management. Plus I’m 30 so i don’t need to touch it for three decades..
Humm.. an IRA or Roth has a limit of how much $$ you can put into it each year so this wont work for me if i want to move my 300k. Great post though thank you
Contributions (which have limits) aren’t the same thing as transfers. You can transfer $300k in 1 year. You’d make a taxable even happen if you went from a traditional to a Roth though
Thank you for the quick response, & that is exactly what I am going to do so I can take advantage of the SCHD split coming up & love that you show your % in different ETF's too & how diverse it is with VTI, VXUS SCHD - So close to what I want to do 🎉
I’m not the best person to help everyone on RUclips 1 on 1, but the principles apply to everyone. Personally I’d live cheaply, save what I can, and find work I enjoy enough to continue doing for as long as possible
You are probably sick of me asking Robinhood questions, but here's another. I probably clicked on something to loan my shares for short coverage. I received a message from RH today that they have been loaned and I can expect a return on this loan. Do you have information on this practice?
I did make a video recently about how M1 finance does this, and some of the principles apply here as well How M1 Finance Takes Advantage of Investors ruclips.net/video/YE1S2NnNEtw/видео.html
Robinhood is a very ponzy scheme like app. Lord forbid if you upgrade any of your devices you've been using via their app. You're going to have major "security issues" in regards to logging back in. Good luck with that. They re holding all of my positions and won't let me access my account.
nice info.. But personally I dont trust RH for my long term portfolio. But.. Also why you have SCHD and JEPI when all those components already part of VTI. Having more ETFs wont help and its just a noise in your PF. Use portfoliovisualizer tool and compare returns of you allocation say from 2015 or 2018 v/s just VTI and VXUS. Check total returns. Also no need of BND at young age- I wouldnt do it.
You should be able to convert your 401k to a traditional IRA account within Fidelity and then transfer the Traditional IRA account to another brokerage account. This is only if you have left that employer. If you still work for them you won't be able to transfer the 401k account.
I transferred my IRAs into Robinhood as well. Great deal !!!!!
was the full balance transferred? i transferred mines from vanguard but im short a small percentage still.. did this happened to you?
My Merrill accounts the full balance transfered. It looks like the fidelity account they left my fractional shares behind.
ok cool thanks man
Same here. Great promotion!
Major disadvantage of IRA is the liability it opens you up for since there isn’t the ERISA protection like there is with almost all 401ks. ERISA protected 401ks are exempt to a very high amount in the 7 figures where IRAs are exempt for less than 100k. This protection is very important for several reasons such as bankruptcy, lawsuit, taxes and many other issues this opens you up for.
yes true...
I loved the video love the transparency and awesome you taking the risk of quitting your job and going full time on this
I like the transparency, Keep up the good work!
I don't think your selections are bad at all. Solid core with a US market, international market, two high dividend holdings and 9-10% bonds. I dont see why there are comments hating on it. 🤷🏻♂️ I'm enjoying the vids man!
What kind of security measures arw you taking when using Robinhood? VPN? viruse software? Anything you use would be a great help.
Me too I I made $646. I transferred my Roth and simple Ira. But I did not read that I need to transfer whole share of stocks only. No fractions.
Branden, as always, you are the man!
Gold membership at Robinhoid is 5% return.
Hmm. I tried, but there is no solo 401k to open?? That's important because you can make much larger contribution to a self employed 401k, but all I see available to open in traditional IRA and Roth..no SEP no solo 401k. Am I missing something.
Another question, cash not invested. You invest 30% in ET F A, 20% each in B and C. You want to research more on what do with your remaining funds.
On the brokerage side your cash is earning interest, what happens on the IRA side?
Sort of related, you don't want to reinvest your dividends, can you hold these in cash?
Theres not a 5% cash sweep program for uninvested cash in the IRA
In the past 24 hours I completed moving my account from Vanguard to Robinhood. One thing that would have been helpful in your video would have been to show people the process that you go through when initially setting up the investments. It's far from complex, but a tutorial would be helpful so you know what to expect right from the beginning.
Discovered your channel not too long ago. Great content so far and really enjoy your videos diving into robinhood. Looking forward to starting an IRA with this match!
Robinhood is killing it they’ll prove the doubters wrong soon enough. May 8th mark the date.
Does it matter how much you have in your 401k
Interesting question but why no VOO or S&P 500 investment? That’s usually a popular pick
No perfectly calculated reason. I think something like 70-80% of the stock market is in the SP500 anyway so I’m just opting into the rest
When doing a backdoor ROTH IRA transfer into Robinhood ROTH IRA which match is used? Is it the transfer or contribution?
You’ve gotta ask Robinhood that my friend
Did you happen to look at their fee schedule? It looks like there are no free options to withdraw funds, with a bank transfer hit with a 1.75% fee. If that was the only option, that would wipe out most of the benefit of this promo. Am I reading that right?
I see “Standard bank transfer: No fee for withdrawals.”
Here: robinhood.com/us/en/support/articles/are-there-fees-for-transfers/
I love your asset allocation choice.Keep up the good work.
did the same with my roth getting that 3% just make sense
Are you able to invest your funds using that % in Robinhood, similar to how a % gets allocated to slices in your pie in M1 finance? That's what's holding me back of moving over.
It’s very similar, you pick a dollar amount for each of the things you pick. Future contributions? I don’t know but think you just pick them again in the same proportion. But I don’t think it’s automatically fixed like M1’s pies
How long until their Gold Credit card is sent to the waitlist?
I have no idea 🤷♂️
Is this Roth IRA something you’re holding for the long term for retirement someday? Thanks bro I subbed.
Yes all my IRAs are intended to not be touched til retirement
@@BrendanEvan Why would you pick this over a simple 3 fund portfolio? Just curious?
1 minute and 25 seconds in.... what?? i had robinhood pull my IRA from Vanguard.. gave them my account number...broker name and what assets i wanted transfered and that was it... no paper work, no making account beforehand took 5 mins tops. crazy.
Yeah our 401k company was super small and not “connected” to any other major financial institutions so it was some leg work!
@@BrendanEvan dang, well glad it worked out good luck investing!
Robinhood wasting no time to complete the transfer
Do you have any concerns about the Robin hood company? The whole GME debacle comes to mind. Will the company be solvent in 5+ years to draw from?
Can’t say I have zero concerns but I also don’t have a crystal ball to know who will or won’t be solvent in the future
Will the cost basis information transfer over to Robinhood as well?
From what I can see it has, yes. I am showing performance results from before the transfer even now in the RH account
@brendanevan how long did it take to show? I also did a transfer and my average cost doesn’t show for anything. No loss/gain performance available for me
Can I roll over say for example 80% of my 401k into Robin Hood's IRA so that I can keep both my employers for 40k match plus Robin Hood's IRA match?
You'll have to ask your employer about that
Terrible idea.. at least move it to fidelity or something more credible
They're not giving you any incentive though and no one is turning down an extra 3 to 5% champ. Robinhood is the way to go.
Nice video, I personally don’t agree with your allocation to bonds, but nice video.
Today i sold one stock for two hundred dollars and they took away 30 dollars dued fluctuating that got me scared that it's too much😢
Robinhood sold your stock $30 different than the actual price?
Always use Limit orders. RH defaults to market orders. No bueno.
How do I transfer if my employer uses fidelity? Do I tell them to deposit into a Robinhood account instead?
If you no longer work for that company you can go into Robinhood and go to transfer account and transfer your previous employers account over to Robinhood. It will ask you basic questions like account number etc.. If it's a 401k account and you still work there I don't believe you can. But once you leave a job you can convert a 401k to a Traditional IRA account. So when it would transfer from Fidelity it would transition to a traditional IRA account at Robinhood. For Fidelity you may have them convert it to a traditional IRA at fidelity and then transfer that Traditional IRA account to Robinhood
I have robinhood gold already. I'd like to transfer my wife's IRA into robinhood to get the match. Does SHE have to also be a gold member? Robinhood support has been unavailable for the last week that I've been trying to contact them
From what I understand the person who has the IRA needs to be the same person opening the account at RH. Check their FAQ but I think I remember reading that
@@BrendanEvan thanks man, I appreciate the response.
If I transfer my 403b to Robinhood does it stay a 403b or convert to an IRA?
As far as I understand it has to become an IRA
@@BrendanEvan Thanks!
So why are you always holding a machete ???.
Great video although I'm surprised you didn't put any money into an S&P 500 ETF like VOO since that has proven great returns with little to no risk.
A TON of VTI is the SP500 since those 500 companies are so darn huge. But there is still definitely risk, just less than many other investments IMO
Do you have to invest in ETFs or can you do any stock?
Why you dint chose to convert the amount in Backdoor Roth IRA once the money was transferred.
I don’t have a high enough income to make a backdoor Roth necessary and if I convert this transfer to a Roth that’s a mega tax bill
You lose the 3% match if you backdoor IRA once it's moved to RH. Need to keep it in the new IRA for 5 years.
At 36 you should either be all in on etfs or etfs and cash. Any money inside of bonds is a waste and will lose to inflation.
You should watch my Vanguard video then 😉
ruclips.net/video/ATZqdysZFVg/видео.htmlsi=Gx1QjNKWCaf8Yf8J
@@BrendanEvan Smart move. Are you adding a new fund or doubling down on your current holdings?
is that small % worth having no customer support tho
Something major happens to your acc and all you will have is email support brother, No phone to call, no bank to visit, no broker to kiss
Nice!!! Thanks for the great video. Does the 3% include any brokerage funds transferred over? Non IRA funds
I don’t think so, the offer reads IRA and 401k transfers. But maybe they will run a promo for transferring taxable brokerage accounts in the future!
This is great bc I have an old 457b I wanna rollover
@@Ciborium it’s a poorly managed account by a govt agency. I’d rather get it moving in faster lanes and be under my management. Plus I’m 30 so i don’t need to touch it for three decades..
Nothing beats Fidelity
Chocolate chip cookie dough does. It beats nearly everything
Humm.. an IRA or Roth has a limit of how much $$ you can put into it each year so this wont work for me if i want to move my 300k. Great post though thank you
Contributions (which have limits) aren’t the same thing as transfers. You can transfer $300k in 1 year.
You’d make a taxable even happen if you went from a traditional to a Roth though
Thank you for the quick response, & that is exactly what I am going to do so I can take advantage of the SCHD split coming up & love that you show your % in different ETF's too & how diverse it is with VTI, VXUS SCHD - So close to what I want to do 🎉
But will they pay the $100 transfer fee that M1 charges to move your IRA away from them? 🤔. That’s the real question!
Robinhood will pay up to $75 for the transfer
@@richardjohnson218 whoaaa ok I had no idea; thanks for the heads up. I’ll look into how to do it then and get that bonus!
For uninvested cash in your IRA account would you get pay 5% interest?
In my experience, no
Wow a lot info lol great video ty I’m 64 I need your Help lol aaa I know I’m starting late any info help which way to go thanks again
I’m not the best person to help everyone on RUclips 1 on 1, but the principles apply to everyone. Personally I’d live cheaply, save what I can, and find work I enjoy enough to continue doing for as long as possible
You are probably sick of me asking Robinhood questions, but here's another.
I probably clicked on something to loan my shares for short coverage. I received a message from RH today that they have been loaned and I can expect a return on this loan. Do you have information on this practice?
I did make a video recently about how M1 finance does this, and some of the principles apply here as well
How M1 Finance Takes Advantage of Investors
ruclips.net/video/YE1S2NnNEtw/видео.html
Robinhood is a very ponzy scheme like app. Lord forbid if you upgrade any of your devices you've been using via their app. You're going to have major "security issues" in regards to logging back in. Good luck with that. They re holding all of my positions and won't let me access my account.
nice info.. But personally I dont trust RH for my long term portfolio. But..
Also why you have SCHD and JEPI when all those components already part of VTI. Having more ETFs wont help and its just a noise in your PF. Use portfoliovisualizer tool and compare returns of you allocation say from 2015 or 2018 v/s just VTI and VXUS. Check total returns.
Also no need of BND at young age- I wouldnt do it.
My job won’t let me roll over my 401k sucks… fidelity is a bunch of robbers
You should be able to convert your 401k to a traditional IRA account within Fidelity and then transfer the Traditional IRA account to another brokerage account. This is only if you have left that employer. If you still work for them you won't be able to transfer the 401k account.
wow robinhood sucks you'll find out why after a year or so
But why?