For me its the 1% boost on deposits. I plan on investing so much these next few months that the 1% boost will pay for gold for a couple of years on its own.
Great vid, we all cared about the math. The question is, are there any brokerages that often a similar interest rate for free? I doubt it although I've heard some who said there was
@lincolnvue944 its still 5.25% which is great . u thinking 2 much about the $5 monthly... Im making more than the yearly $60 fee easily in 1 month... its totally worth it.. Re do your math
@@johnashby6353 then do the math for me. Instead of telling me how I did my math wrong, without explaining how I did my math wrong. I’m basing off on 2k to 10k. And good you saved up large sum of money that’s fine. Which I was trying to make a statement that you have more than 25k it should be on the actual rate of 5% APY. I’m talking about in general for average new robinhood users. It’s not towards for you. Instead of math, it’s typical logic common sense that it’s not going towards you. I’m not saying it’s not worth it. I’m putting in thoughts of what you start off and what you actually get. It’s not thinking too much. It’s basic common knowledge for new users to know what to choose on high yield savings.
If you do the math let’s say 2000$ x 5.25% = 105 annually - 60$ annual subscription = 45$/2000$ = 0.00225 x 100 = 2.25% Tbh you’re better off having higher funds for that 5.25% for RH. Maybe like 20k in you can atleast use 4.95% of that percentage savings. Overall you’re better off having your money elsewhere if you are 5k under. Because you’re missing out 60$ of savings. That takes a huge chunk of your APY percentages.
Since you get $1000 of free to invest (no interest) with Robinhood Gold, you could just park that in something save like SGOV or a similar dividend and earn your annual fee ($50.00) back that way. edit: mine was in reference to the Gold Credit Card, since it requires the annual subscription at $50.00 a year.
Quick question I've been getting looks like $6 every week but I also have an automatic buy for Dogecoin I'm just wondering am I buying my Dogecoin and just getting 1.5 interest return because my money is just sitting there or is it my own money
Didn't get the question...but if you are enrolled and you are getting 1.5 percent interest if you have automatic buys for dogecoin that reduces your cash that earns you that 1.5%
Anyone tell me how the access to money works? U enroll in the sweep and do u have to wait? Or ur purchasing power is still the same and u can use the cash to buy a stock anytime?
So it doesn't compound daily then. If it was compounded 4.9 daily it would more per month.. 4.9x30 days is compounding. It sounds like you mean 4.9 average
My thoughts exactly. With a little research you could invest that money and make way more than 5.25%. Added plus it doesn’t cost you 5 dollers a month either.
I think you missed the point. You should not be using RH like a savings account, that's what your bank is for. You should be using your account for the sole purpose of investing. And alot of investors have $1700 or more, just sitting there. The larger your account gets the more money just sits around, because you don't want to throw it all in trades. Higher volume can screw you, and also makes it harder for your orders to get filled. But anyway back to cash sweep thing. You shouldn't be using that as your money maker. It's not a savings account. You should be using it, because sometimes you'll get a small interest payment. But you shouldn't be using it as builder, that's what trading is for. On the first day the rate is 1.1%, that's literally nothing, except unlike a regular bank that's daily, and not monthly. But... you could make way more than 1.1% if you play the market. But you know what you can't do on the weekends, you can't trade. You know what's open on a saturday when the market is closed? The banks, so why not get a small piece literally for free. And the subscription pays for itself out of a few trades. Even with a small account lets say $300 you are throwing around thousands of dollars a month, as long as you aren't stupid. The chances of getting out at atleast $5 positive is extremely high. Access to lvl2 data is amazing for traders, you can see why stocks are slowing, and when they are likely going to take a hit. You can see a stock has gone up 50%, but with lvl2 you can see the entire volume is sellers with no buyers, that means stay away. It all pays for itself. The best thing you can do for personally growth is to throw out margin investing, it will kill you. PDT rules were put in place to keep the poor from making money. Swith to a cash account, no PDT rules, way more money.
This is what financial videos should be like
Great video! Hope you continue to put out more investment videos, extremely well breaking the subject down.
For me its the 1% boost on deposits. I plan on investing so much these next few months that the 1% boost will pay for gold for a couple of years on its own.
Great vid, we all cared about the math. The question is, are there any brokerages that often a similar interest rate for free? I doubt it although I've heard some who said there was
Webull does, I made a video as well
The rate is now 4.9% for Gold members
I just saw a video that the interest rate is constantly changing. Could it be bait and switch 6 months from now?
@ScottKazan it's based off the fed interest rate. The last few times the fed went up they went up a little bit
@@lolmock25Would it matter? Can’t we just pull all of our money out & transfer it to another bank?
5% now :)
Thats exactly why i love it over a cd right now i have immediate access @ricardor.641
Thanks bro liked how you worked it out
Current rate now is 5.25%
If you do the math let’s say 2000$ x 5.25% = 105 annually - 60$ annual subscription = 45$/2000$ = 0.00225 x 100 = 2.25% is the actual rate
It’s only good if you have 10k for that APY where it actually matters the most. Which your still down 4.65%.
@lincolnvue944 its still 5.25% which is great . u thinking 2 much about the $5 monthly... Im making more than the yearly $60 fee easily in 1 month... its totally worth it.. Re do your math
@@johnashby6353u have to think too much. Its not worth the gold if u have less than 10k. Otherwise go to wealthfront or somewhere that offer 5%
@@johnashby6353 then do the math for me. Instead of telling me how I did my math wrong, without explaining how I did my math wrong. I’m basing off on 2k to 10k. And good you saved up large sum of money that’s fine. Which I was trying to make a statement that you have more than 25k it should be on the actual rate of 5% APY. I’m talking about in general for average new robinhood users. It’s not towards for you. Instead of math, it’s typical logic common sense that it’s not going towards you. I’m not saying it’s not worth it. I’m putting in thoughts of what you start off and what you actually get. It’s not thinking too much. It’s basic common knowledge for new users to know what to choose on high yield savings.
Great detail
Thank you!
Thank you so much!!!
Your video is great!
So just for clarification, I would need to just deposit the cash and not use it for anything to accumulate the interest?
Yes
If you do the math let’s say 2000$ x 5.25% = 105 annually - 60$ annual subscription = 45$/2000$ = 0.00225 x 100 = 2.25%
Tbh you’re better off having higher funds for that 5.25% for RH. Maybe like 20k in you can atleast use 4.95% of that percentage savings.
Overall you’re better off having your money elsewhere if you are 5k under. Because you’re missing out 60$ of savings. That takes a huge chunk of your APY percentages.
Since you get $1000 of free to invest (no interest) with Robinhood Gold, you could just park that in something save like SGOV or a similar dividend and earn your annual fee ($50.00) back that way.
edit: mine was in reference to the Gold Credit Card, since it requires the annual subscription at $50.00 a year.
@@thomas1942agreed, SGOV is a good alternative choice for savings account.
Quick question I've been getting looks like $6 every week but I also have an automatic buy for Dogecoin I'm just wondering am I buying my Dogecoin and just getting 1.5 interest return because my money is just sitting there or is it my own money
Didn't get the question...but if you are enrolled and you are getting 1.5 percent interest if you have automatic buys for dogecoin that reduces your cash that earns you that 1.5%
Anyone tell me how the access to money works? U enroll in the sweep and do u have to wait? Or ur purchasing power is still the same and u can use the cash to buy a stock anytime?
You never lose your purchasing power they take care of money movement on the backend
So it doesn't compound daily then. If it was compounded 4.9 daily it would more per month.. 4.9x30 days is compounding. It sounds like you mean 4.9 average
its anual. you get paid once a month but it compounds each n every day
Is 5% per month?
APY
The IRA they offer. Is it a Roth IRA or Traditional IRA?
Both
Once you deposit this money, are you able to take it out if you need it?
Yes, I did it
The link to the spreadsheet gets blocked as phishing.
Weird...maybe you have something in your browser that does it
Can you use margin to get that percentage APY?
Is apy credited monthly ?
accrued daily, paid out monthly yes
Special for 5.5%
Why you took so long to upload a video. Pls upload more about airdrop 🙏💖
Can we get more detailed videos on potential guaranteed airdrops?
Thanks!
The fact that they haven't trotted out Mike Meyers to play gold member for their ads is criminal
😂
Thanks mate
The real question is who would keep 1700 uninvested?
My thoughts exactly.
With a little research you could invest that money and make way more than 5.25%.
Added plus it doesn’t cost you 5 dollers a month either.
You don’t want to put your emergency funds in stocks. Way too risky!
I think you missed the point. You should not be using RH like a savings account, that's what your bank is for. You should be using your account for the sole purpose of investing. And alot of investors have $1700 or more, just sitting there. The larger your account gets the more money just sits around, because you don't want to throw it all in trades. Higher volume can screw you, and also makes it harder for your orders to get filled. But anyway back to cash sweep thing.
You shouldn't be using that as your money maker. It's not a savings account. You should be using it, because sometimes you'll get a small interest payment. But you shouldn't be using it as builder, that's what trading is for. On the first day the rate is 1.1%, that's literally nothing, except unlike a regular bank that's daily, and not monthly. But... you could make way more than 1.1% if you play the market. But you know what you can't do on the weekends, you can't trade. You know what's open on a saturday when the market is closed? The banks, so why not get a small piece literally for free. And the subscription pays for itself out of a few trades. Even with a small account lets say $300 you are throwing around thousands of dollars a month, as long as you aren't stupid. The chances of getting out at atleast $5 positive is extremely high. Access to lvl2 data is amazing for traders, you can see why stocks are slowing, and when they are likely going to take a hit. You can see a stock has gone up 50%, but with lvl2 you can see the entire volume is sellers with no buyers, that means stay away. It all pays for itself. The best thing you can do for personally growth is to throw out margin investing, it will kill you. PDT rules were put in place to keep the poor from making money. Swith to a cash account, no PDT rules, way more money.
It's for those who like to have their emergency funds easily accessible.
@@mustbescud Emergency funds shouldnt be in a brokerage account.
And the cash is insured up to 250k?
per bank
he locked the spread sheet
'promosm' 😏