I personally just put it in vanguard money market, which is basically cash but in a brokerage account. It's not locked like in a CD or certain bonds, and the interest is competitive (around 4.8% right now for VMFXX)
Another advantage of putting it in money market is that it seems like there's no limit on transferring from brokerage to my other accounts. Regular banks usually have limits (like $10k) when initiating the ACH transfer, not sure why banks are restricted but not brokerage.
I buy Dogecoin every week I must small investor I was thinking about doing the Robin Hood gold what's your suggestion or idea on this for cryptocurrency
They offer 0% interest on the first 1k of margin + 1% match in everything deposited , as a person who's investing about 2k a month this alone covers the fee with some to spare
Robinhood gold also lets you use $1000 in margin for free, and a lower rate on all margin after. So, if you simply stay under the free $1000, it makes it worth the $5/mnth right there. Basically, you get upgraded service and research materials and can barrow $1000 for free, plus get like 4.65% apy on your cash, all for $5/mnth. That's not bad.
This is exactly why I started researching it, I mean dang it with $1000 you would have to be such a lousy investor to fail to make $5 from it 😭. I am taking it only to borrow that $1k for now and see how things go
this is exactly what Robinhood is hoping the average investor will do, start trading their money away (i.e., gambling for most people). If you understand what you're doing, cool. Otherwise, if that's the main benefit of this to you, STAY AWAY from margin trading and save your money elsewhere for the same returns without fees, you're playing a losing game, just like in the casinos. Personally I find Gold worth it for the instant transfer limit. I'm a long-term investor, so when there's a dip in the market, I have a list of tickers I want to buy more of, and having the ability to get access to up to 50k instantly without waiting for the 3-5 business day ACH is great (I don't want to park all my money in RH). a 4.9APY on parked cash is just icing on the cake, and personally, long as the APY covers the cost of Gold, I'm cool with it. Basically, pay $60/yr to make $322/yr vs pay $0/yr to make $0/yr is a no-brainer. In the end, RH is just another tool, like CCs, use it wisely.
You should do another video talking about more premium level accounts on different platforms to see if they are worth it. Dollar flight club, upper levels with airlines, instacart plus stuff like that, M1 Finance
I mean, I would just put in maybe 3k and just leave it. It will not only pay for itself but you get 80$ back per year (not a lot, but better than 1%) and if you do see a great stock to invest in, then go for it.
Was just watching your other video. Just to be redundant because I want you to see this comment. You have such a unique view. You don’t do the same boring content as others. You’re in a legue of your own. Just keep doing videos that you want and we love it. ❤
How do you come up with the 7 and a half hour runtime on your fridge? I’m guessing you have used something like a kill-a-watt to measure its usage over a period of time? I see that it says 3 hours of runtime on the display but we all know a fridge doesn’t run 100% of the time.
None of these HYSAs are outperforming inflation. People are attracted to these because of the safety and relatively high return but people who put all of their money in these kind of fixed income products should be made aware that their Real Rate of Return is still negative after all is said and done.
@@insanepykl3603 Monry Markets have become the reservoir for the remaining liquidity of the average retail investor. VMFXX is a Vanguard Group mutual fund that offers higher return than any HYSA I've seen but still likely won't outperform inflation in the long term.
No way you earn $60 on $1500 on the less than a percent difference between Hood and Bank Y. $15,000 is correct if you are only paying for the APY. There are of course other nice features you get with Gold.
@@BeatTheBushim not following, can you elaborate some more? For example if u have $5000 uninvested cash, you accumulate in a year $232.5. Why do you need $15k to break even?
I was thinking of getting Robinhood Gold, the 4.6% interest seems amazing considering my bank gives 0% interest. The whole "Oh the money is there, easily spendable when in investment!" might be an issue but as long as I remember why I put so much money into my Robinhood account I should be good. I will have to think "Always have more than $1,500 in my brokerage account." I did the math awhile back and to not lose money while using Robinhood gold, I would need a minimum of $1,500. I say $1,500 because I think Robinhood will eventually revert back to 4% from 4.6%, but 4% is still really good! When I get to the point that I have more than $1,500 then I think I will get Robinhood Gold, but who knows.
I haven't received a notification about it going down yet. Idk. It's pennies on the dollar anyways. Anything over like 3% is pretty good for a savings account that is still liquid. The only reason to keep it in a bank outside of robinhood is if you don't want to be tempted to invest it.
I’m really trying to understand how this work I have a little cash very little (10k) and would like to get involved in making this money gain some interest not sure if Robinhood is the best choice for me personally but would love to learn how it works. Should I try some of this small banks offering about the same interest or tryout Robinhood
Most people with 50k are less likely to do stupid stuff like that... that's y an individual must have 25k in order to day trade... and if you invest in a good company that gives out dividends, it,ll cover the 5$
Check out Webull bit.ly/2XwlcQ4 (affiliate link). They now have 5.0% APY on uninvested cash. No annual fee. Even 0.1% better than Robinhood GOLD.
People with buying impulses will never make it to 50k or 100k cash like you are suggesting.
This was tremendously valuable information so thank you for that
Great video. Ally Bank has the best deal right now with 4.75% on an 11-month no penalty CD.
I use ally too, it’s downright amazing!!
That's nothing lol
I personally just put it in vanguard money market, which is basically cash but in a brokerage account. It's not locked like in a CD or certain bonds, and the interest is competitive (around 4.8% right now for VMFXX)
Another advantage of putting it in money market is that it seems like there's no limit on transferring from brokerage to my other accounts. Regular banks usually have limits (like $10k) when initiating the ACH transfer, not sure why banks are restricted but not brokerage.
... webull shows 3.5% currently 1yr apy?
there's more to robinhood gold than interest, like instant deposits and access to research reports
I buy Dogecoin every week I must small investor I was thinking about doing the Robin Hood gold what's your suggestion or idea on this for cryptocurrency
That part. He completely ignores that. Interest rate is the icing on the cake
Most underappreciated comment 👍🏽
They offer 0% interest on the first 1k of margin + 1% match in everything deposited , as a person who's investing about 2k a month this alone covers the fee with some to spare
Robinhood gold also lets you use $1000 in margin for free, and a lower rate on all margin after. So, if you simply stay under the free $1000, it makes it worth the $5/mnth right there. Basically, you get upgraded service and research materials and can barrow $1000 for free, plus get like 4.65% apy on your cash, all for $5/mnth. That's not bad.
This is exactly why I started researching it, I mean dang it with $1000 you would have to be such a lousy investor to fail to make $5 from it 😭. I am taking it only to borrow that $1k for now and see how things go
this is exactly what Robinhood is hoping the average investor will do, start trading their money away (i.e., gambling for most people). If you understand what you're doing, cool. Otherwise, if that's the main benefit of this to you, STAY AWAY from margin trading and save your money elsewhere for the same returns without fees, you're playing a losing game, just like in the casinos. Personally I find Gold worth it for the instant transfer limit. I'm a long-term investor, so when there's a dip in the market, I have a list of tickers I want to buy more of, and having the ability to get access to up to 50k instantly without waiting for the 3-5 business day ACH is great (I don't want to park all my money in RH). a 4.9APY on parked cash is just icing on the cake, and personally, long as the APY covers the cost of Gold, I'm cool with it. Basically, pay $60/yr to make $322/yr vs pay $0/yr to make $0/yr is a no-brainer. In the end, RH is just another tool, like CCs, use it wisely.
Well... It's not "free". You are paying $5/month for it: an effective 6% APR, or about 5.83% APY. This is a great rate, but it's not "free"
5.25% now
For the first 60 days then it’s 5%
Is the 5% guaranteed? And does it compound monthly?
I can move money any time I don’t see any issue ?in Robinhood the money is not locked
Robinhood is now offering 5.0%
As what this host reasoned, in 1 sec your money is gone for gambling and that's how robinhood can provide you 5%
Now they are 5% APY and have a gold card with unlimited 3% cash back on everything AND a 3% match on IRA deposits. Would your opinion change today?
You should do another video talking about more premium level accounts on different platforms to see if they are worth it.
Dollar flight club, upper levels with airlines, instacart plus stuff like that, M1 Finance
Your math makes no sense to me. %5 of $15,000 is $750 which means that it would be worth it with much less money... Explanation?
So it all comes down to self discipline!! With guaranteed 4.9%. When I save 10k I'll upgrade to robinhood gold.
I mean, I would just put in maybe 3k and just leave it. It will not only pay for itself but you get 80$ back per year (not a lot, but better than 1%) and if you do see a great stock to invest in, then go for it.
Was just watching your other video. Just to be redundant because I want you to see this comment. You have such a unique view. You don’t do the same boring content as others. You’re in a legue of your own. Just keep doing videos that you want and we love it. ❤
13 week Treasury bills are winning in my opinion
How do you come up with the 7 and a half hour runtime on your fridge? I’m guessing you have used something like a kill-a-watt to measure its usage over a period of time? I see that it says 3 hours of runtime on the display but we all know a fridge doesn’t run 100% of the time.
Fidelity is 4.98% no monthly fee. Your math is wrong, you only need 1500 to break even.
None of these HYSAs are outperforming inflation. People are attracted to these because of the safety and relatively high return but people who put all of their money in these kind of fixed income products should be made aware that their Real Rate of Return is still negative after all is said and done.
More details. Been considering it and was looking for info
@@insanepykl3603 Monry Markets have become the reservoir for the remaining liquidity of the average retail investor. VMFXX is a Vanguard Group mutual fund that offers higher return than any HYSA I've seen but still likely won't outperform inflation in the long term.
Lol the power goes out at the perfect time for the sponsor.
Can u access ur purchasing power and buy stocks anytime? Or like a savings acc, u have to wait?
It’s not 15,000.
4% of 1000 is $40
2000 would be $80 which already pays for the gold service
Compare not to 0% interest but a high yield savings account that has no fee.
Are the other services RHGold includes included with a savings account? Are they "Free" anywhere? @@BeatTheBush
Are they of any real value?
Really appreciate the heads up!
I’d rather put my money in a rolling 1-month CD at 5.2+%.
Which institution offers that?
@@Uhmier2 Charles Schwab
Amen sister
I use it. Just need to stay disciplined.
Is the interest paid monthly?
Good morning beat the bush
Ally is 3.75%apy not 4%
Hard to transfer money there…
To cover 60 dollars a year you would only need to invest 1,142.86 to break even at 5.25% rate not 15k.
Compared with 0% interest, I hope nobody watching this channel is currently getting 0%.
$1,500 not $15,000
No way you earn $60 on $1500 on the less than a percent difference between Hood and Bank Y. $15,000 is correct if you are only paying for the APY. There are of course other nice features you get with Gold.
Robinhood Gold was recently offering 4.5% before announcing 4.4% as a new and positive change. Rather deceptive imo.
4.65% right now
I'm getting 4.5 percent with cash app savings
Great video and insight. Super informative, as always!
Hmm what if we can use the Gold membership plan that gives us that percentage, then deposit money into the Roth IRA plan that they provide?
I disagreed , 60 bucks yearly fee requires at least $1290.32 investment to break even at 4.65% reward
Only if you compare to 0% interest. You really should compare it to a high yield savings account with no fee instead.
@@BeatTheBushim not following, can you elaborate some more? For example if u have $5000 uninvested cash, you accumulate in a year $232.5. Why do you need $15k to break even?
@@kevs1768I agree with you! I don’t see what he is saying eitjer
I was thinking of getting Robinhood Gold, the 4.6% interest seems amazing considering my bank gives 0% interest. The whole "Oh the money is there, easily spendable when in investment!" might be an issue but as long as I remember why I put so much money into my Robinhood account I should be good. I will have to think "Always have more than $1,500 in my brokerage account."
I did the math awhile back and to not lose money while using Robinhood gold, I would need a minimum of $1,500. I say $1,500 because I think Robinhood will eventually revert back to 4% from 4.6%, but 4% is still really good! When I get to the point that I have more than $1,500 then I think I will get Robinhood Gold, but who knows.
Just get a high interest savings account with CIT bank. I’m making 4.93% with no monthly fee
@@ianhopit’s 4.65 at CIT now and 4.9 at robinhood . What do you still recommend?
I haven't received a notification about it going down yet. Idk. It's pennies on the dollar anyways. Anything over like 3% is pretty good for a savings account that is still liquid. The only reason to keep it in a bank outside of robinhood is if you don't want to be tempted to invest it.
@@ianhop I think I’ll be set with leaving it their untouched
3 month us treasury bond give you 5.26 interest. (TBIL)
I just use RH gold to sell puts on margin
not recommended for everyone unless you know what you're doing.
The meant you need min $1500 to offset the fee?
1500x0.44=$66
I'll make a calculator for this in the next video.
This is so smart
Doesn’t show Kinesis. That worries me. Lmao.
I’m really trying to understand how this work I have a little cash very little (10k) and would like to get involved in making this money gain some interest not sure if Robinhood is the best choice for me personally but would love to learn how it works. Should I try some of this small banks offering about the same interest or tryout Robinhood
So if I put 1.5 million in there I get $75,000 a month in passive income.
Per year, not per month.
So then if I am at Wells Fargo at .15% should I do Robinhood?
Depends how much cash you have for collecting interest.
Battery is nice swag!
So I buy Dogecoin every week on Robinhood was wondering about this option any suggestions or ideas
If all you are using Hood for it to buy Doge, probably you won't get anything out of Gold. But I use Gold and it's been worth it for me.
Ahhh now it’s 5.5%
Most people with 50k are less likely to do stupid stuff like that... that's y an individual must have 25k in order to day trade... and if you invest in a good company that gives out dividends, it,ll cover the 5$
@4:00 Your maths not right here chief. I know first hand. My first month i put 5k into CIT bank and got back $15.00 in interest off of one month.
The math is calculations compared with what you current get for interest and not compared to getting zero interest.
It makes sense. Thank you for your logical advice.
No link for the Ecoflow
Sorry about that. I will re-post it in a later video.
People with money in the bank are panicking. People that self custody crypto are their own bank.
The few clicks is the stupidest point I heard. People who invest like that deserve to be broke
R u the utoober that will help subs reach 10 referrals on RH Gold
Lol people have no self control
Its 4.9 apy with robinhood for me
Check out Webull bit.ly/2XwlcQ4 (affiliate link). They now have 5.0% APY on uninvested cash. No annual fee. Even 0.1% better than Robinhood GOLD.
Not me realizing the average trader is an absolute idiot. Thanks for your example.
wtf robinhood is PROVEN a scam cfd dealer
Move on already.