Robinhood's New Retirement Accounts (IRAs) - Exposing the Truth

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Our Rich Journey - Robinhood's New Retirement Accounts (IRAs) - Exposing the Truth - Robinhood is now advertising investors' ability to begin investing in IRAs on the Robinhood platform. Not only that, but Robinhood is incentivizing investors to contribute to these accounts by providing investors with a 1% match when they invest in an IRA with Robinhood. But . . . is there a catch? Is investing in IRAs with Robinhood a good thing OR is it something that you should be skeptical about? In this video, we discuss our thoughts on Robinhood's new retirement accounts!
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▸▸▸SPECIAL ANNOUNCEMENT: Enrollment for our 365 Days to FIRE Program is now open for the class of 2025! Enroll now and get 50% off the full price. Spaces are limited! Learn more at: www.365daystofire.com/

[@Kush333]

I dont think i could have gotten the number of shares Ive bought without using Robinhood. They made it very easy for me.

[@MTXSHO9732vV8SHO]

I bet that's more of an indication of your maturity and discipline than the functionality of the platform. Basketball analogy: you can put a great player in a bad situation and they'll still shine. #keepbangin'

[@buttscratcher]

I never got the feeling that robinhood is a game. The UI is easy to use and navigate and everything is organized perfectly. With other brokerages it feels like having to go thru layers and clutter just to do a simple task like transferring money into my account. You can DCA daily and weekly/biweekly into stocks/ETFs that pulls money straight from your account that can be easily stopped at any time all in the app. And you can setup DRIP in the app. You can’t do that with these outdated brokerages unless it’s a monthly recurring investment into their index fund or you have to manually invest. Robinhood has all these features that do allow for passive, consistent set/forget it type investing but people choose to look at the negatives. Fidelity also uses payment for order flow and also halted trading with all these other brokerages during the GME short squeeze.

[@Godfather9814]

Exactly I’m loving robinhood and it’ll eventually grow as big as the traditional brokerage firms, if people can’t control themselves to buy and sell and cause themselves to lose money that’s on them and the company shouldn’t be held accountable. That’s like yelling at Hershey for selling candy bars that someone bought tons of on their own and got diabetes or cavities and tried to sue the company

[@OurRichJourney]

📈Looking to learn how to invest? Enroll in our Stock Market Investing Course: www.ourrichjourney.com/investingforfire 🔥Learn more about financial independence and retiring early: Enroll in our F.I.R.E. Master Class: www.ourrichjourney.com/firemasterclass ✈Want to move to Portugal? Enroll in our Moving to Portugal Course: www.ourrichjourney.com/movingtoportugal

[@kaiung7542]

Robinhood is dope. Better than the garbage banks that charge a high maintenance fee for no reason.

[@obieone21]

Facts

[@CygnusHomes]

Agree love Robinhood, they caught wrath from the GME crash of which no financial institution could've predicted. (Clearing house issue). I think they held out substantially long giving the retail community ample time to get in and get out

[@UncleRuckus7600]

Robinhood is just so user friendly I'm doing it

[@Caseylawton]

Exactly

[@rafaelcastro5632]

same here

[@GeorgeReid]

absolutely

[@JuniorRodigan]

you're throwing away money if you do. Best of luck tho

[@restartszn406]

@@JuniorRodigan How so?

[@KevinConwayChannel]

Keeping it simple! That is why I like your channel.

[@tonyvaldez8708]

Merry Christmas to both of you and your family! 🎄Thank you again for your videos that helps us all!

[@Christian_Villanueva]

I think Robinhood is hugely underrated. I think it’s unfair to blame $HOOD for “gamifying” investments. Imagine a company being so good at what they do that they garnered a HUGE user base that the big established brokerages were forced to change the entire game. I have some bias as I both invest with Robinhood as well as invest in $HOOD. Again, it’s unfair to blame HOOD for doing what investors have always done, try to get rich quick. I think over the coming years HOOD will have a better image and will be a better brokerage. I guess we’ll see what happens!

[@Christian_Villanueva]

Also, keep in mind this company is still an infant and look at how much they have already accomplished in what, less than 10 years? I think it’s quite foolish to bet against them.

[@lalaking7974]

Robinhood definitely forced the established brokerages to change tactics. And like Amon & Christine said, I give them props. - But I want to clarify that "investors" have NOT tried to "get rich quick." Investors have done just that, "invest". And when you're "invested" in something, that means you're with it for awhile; you're committed; at least for awhile. (People like Warren Buffett, Peter Lynch, Motley Fools, Amon & Christine: investors.) Traders are the ones trying to get rich quick. And that's how Robinhood has marketed itself... which makes it a weird platform for retirement accounts to me!

[@DigitalDezinesCEO]

Robinhood is so easy to use. Its how I started investing and trading and I will continue to use it. Its gotten a bad name but why? Seems people dont like the competition.

[@itisim]

Buy the stock

[@Kush333]

im invested in the stock...

[@daisyly3065]

Merry Christmas and Happy New Year!!! Thanks for all your videos

[@JoseSanchez-tp1zv]

I love Fidelity Customer Service. So professional and always assist with basic and more complex questions, very knowledgeable.

[@tobirates916]

Merry Christmas! Thanks for the deep dive and cogent analysis. Not leaving Vanguard or Fidelity but good information to know!

[@DSkillz2010]

Hello from Houston,TX! As always, thanks for covering the latest with finance! So informative! Happy Holidays!

[@OurRichJourney]

Thank you so much! Happy holidays!!!!

[@Christian_Villanueva]

Ayyyee, Htown we reppin 🤘🏼

[@VictorSanchezVS13]

🤘🏻

[@gradinjunn9484]

Fellow Houstonian here.

[@jacqueleenzamora467]

Merry Christmas and a Happy New Year from NY! Love you guys!

[@OurRichJourney]

Merry Christmas and a happy New Year to you, too!!!

[@chuckmurray1825]

Great video. I'm glad you broke it down so people can see what they are getting into.

[@shumatsuopost]

Love how you explained the situation so well!

[@jeannettedrown7687]

Great content as usual. What's your opinion on selling covered calls at a low delta just to collect the options premium?

[@hr5364]

No days off everyone here is focused god bless us all. #stayfocuused

[@OurRichJourney]

That’s right! Stay focused!!!! ❤️🎉

[@hr5364]

@@OurRichJourney thanks so much for everything you guys do learned so much from watching

[@escapeearth2327]

Thanks for this alert! Merry Christmas to you and the girls! 🌲🎁🥰

[@Ray-bn1ry]

Thank you, this was very helpful 🙏🏽

[@annettesolis]

Great vid guys. Thanks for this info, so helpful

[@rettataffesse9593]

Thank you for sharing this!

[@TheJeanean]

I’ve been using RH for a few years now. Idk what “constant alerts” y’all keep mentioning.

[@jamesadamgleason9471]

Well if you have all notifications turned on then....

[@dellpope-bradford1704]

Merry Christmas and thanks for the info!

[@OurRichJourney]

Merry Christmas!!!

[@GH-bz2vl]

Holy hell just stumbled across you guys looking into the Robinhood IRA feature. You two are great! New Sub for sure, can't wait to see your other videos

[@kristieotero1791]

Thank God for the two of you. I love how you guys keep reminding your viewers that investing is not emotional & involves informed research & long term planning! I came across both of you during the pandemic… formulated a plan & joining your FIRE journey! Keep up the good work! Blessings to both of you in 2023!!!

[@tinacherian4816]

You guys shared wisdom as always. I’m glad I picked Fidelity and will stick with Fidelity!

[@KBlue728]

This video is great! You two are great!!

[@thegreenenchilada147]

Merry Christmas! 🎄 Can you share with us which brokerages offer the higher sign up bonuses?😊

[@pilotrenzo5065]

Good video, did you know you can invest ETF’s like Vangaurds s&p 500 index fund (VOO) and it’s Bonds ETF (BND) on brokerage and IRA accounts. It would be the same as investing in a mutual fund or index fund

[@zukozenani877]

Hi there ,I like your consistency.Merry Christmas 🎄.Comment before I even watch 😂🤦🏼‍♀️

[@OurRichJourney]

Aww, thank you so much Zuko!!!!❤️

[@MrAnls]

Thank you for your sincere teaching, your approaches are clear with no bias. It's worth subscribing to!

[@yoagi999]

was that a joke this is bias asf 😂😂Robinhood is not telling the people to have the notifications on or to click the trade buttons u can’t blame the app for a persons choices, it’s not Robinhood fault that they did or didn’t do their own research nor press the trade button 😂 we have iPhone settings for a reason, Americas already in debt it’s not that serious.

[@dwalker6868]

Thank you for sharing

[@fitnessrefocus]

How do you feel about using other platforms like Sofi or M1 Finance?

[@Angel-zn1xh]

These are things that we Need to Know - thanks again A ❤ C

[@OurRichJourney]

Thank you Angel!!!❤️

[@lowkeyIbes]

Well said. I currently use HOOD for my ETF & stock trading. I was curious to see if opening up a Roth IRA would be advantageous due to the 1% matches but after watching this video it wouldn’t really have much benefit as I would basically be investing in the same stocks & ETFs. Hopefully HOOD expands their platform & products even more as I enjoy using their app. Thank you for this information.

[@mikem9870]

Thanks for the honest review

[@beencouraged10]

Great video I just opened up the retirement account with them wish I saw this video before.

[@willmallory9085]

Excellent video Team

[@pinkislovely2477]

Thank you guys sooo much you explain it so simple 💕

[@MsJacquese99]

I've definitely harvested some loss in my Robinhood account this year. Slowly closing everything with them. I just prefer to have all of my 'brokerage' money in one place. And that place is Fidelity. Happy holidays

[@hildamartinez-herrera5511]

Feliz Navidad 🎄🎁 Y Prospero Año Nuevo 🎊🎉

[@delliott777]

This video is probably the Best Christmas gift 🎁 I received this year.

[@maxineoliver7404]

Mery Christmas to both of you and your family!🤗🎁🎁🎁🎁🎄

[@marciawhite]

Beautiful platform

[@1521joe]

Wishing you a Merry Christmas and a prosperous New year ✨

[@OurRichJourney]

Thank you so much! Merry Christmas and happy New Year to you, too!!!❤️

[@jmr2594]

Happy Holidays. I find M1 the easiest to use for retirement accounts.

[@RajaVelforyou]

Nicely said 👏🏻

[@OurRichJourney]

Thank you Rajavel!!! ❤️

[@RajaVelforyou]

Merry Christmas to you and your family 🎉🎄🎁

[@OurRichJourney]

Thank you!!!! Merry Christmas!!!!

[@clayruffin6286]

Great review.

[@jamesspitzercashout]

Merry Christmas, Happy Holidays my friends. Be safe happy and healthy.

[@laurar9748]

Happy Holidays! 🎄🎁💰

[@jrm2054]

Robinhood is easier to use. But God schawb fidelity etc have such shitty interfaces its a pain to use.

[@krimstix]

For retirement, I'll stick with M1 Finance. However, my individual account (stocks) are in Robinhood, it's just way easier to buy shares from them

[@punknhead23]

What makes Robin Hood easier?

[@theneverendinghighway]

I'm not going to open a Roth on Robinhood, but I do hope the 1% match does become popular enough that other brokerages explore it. I understand what you're saying, but if you focus on low cost ETFs, that extra $60 is $60 extra dollars every year into something like VTI or VOO. $60 more than every other brokerage in the world. I do have a play account on Robinhood because I like to have a little fun with options and I think they have the best layout of any brokerage I've seen. But, it's just 5% of all my investments.

[@DavidSanchez-wo3mz]

what do yuall think is better i'm barley entering this and never had experience . is vanguard better or robinhood and what happens to the money i put in i'm 23 what am i expected to get when i'm 55

[@shaonghosh1]

I don't have a retirement account with Robinhood. But the only con that I see with their retirement account is the absence of bonds. Retirees will be moving a lot of their assets to bonds as the are nearing retirement. I'm sure Robinhood will fix this eventually. All the other cons are really weak argument. I mean, saying that there were other brokerages that offered retirement accounts while Robinhood didn't is not a con. It *was* a con when Robinhood didn't offer a retirement account. Offering it doesn't make it a con. Equally weak is the argument that $60 is not a lot of money. It's free money, and it all adds up when you are compounding years over years. Even if you do not consider it to be a pro, it surely can't be a con. Yes, they were fined a huge sum of money, and that is a con, but that you have already discussed. Overall I see nothing wrong with it. If you can treat the account as a retirement account, and not start day trading on it, it's just another retirement account with a slightly higher annual limit than the rest. The bond issue is problematic though!

[@andrewlittlefield3425]

Great comprehensive video 😊

[@danelledautrievesanford]

Hi There and Merry Christmas.

[@OurRichJourney]

Hey there Danelle!!! Merry Christmas!!!!

[@meganpost3064]

I have my standard Ira through my traditional work place I use robinhood but just to buy stock slowly and keep some money moving nothing huge just to see how it goes.

[@sammyalabamy111]

I like me my Robinhood, so easy to use, plus I'm disciplined and know my limits, and mainly use it as a profit platform - as our main investments are with the bigger financial institutions. Plus, I'm really into their Cryptocurrency offerings recently (and Dividends), again just for profit and I learn about investing experience too. Win-win.

[@emansgaming910]

The world needs humble ppl like this

[@LilView]

Sounds like you're shorting RH...

[@831CROW]

Does vanguard have a system we're I can get stock like ribbon hood .if it sounds like robinhood not great then whos better for me to stock with

[@jamesadamgleason9471]

Fidelity is closest to RH imo only way more official. Vanguard is after you been in the game for over 5+

[@motowncooking6125]

Great video! You have a good point and i think i rather open a account else where.

[@alextjb]

we have to thank robinhood for getting $0 trades to be standard but I would never trust them with my retirement account. it is smart on them for offering the 1% match. maybe if we get lucky that will get picked up by the big 3 at some point. But I highly doubt it.

[@whatever7240]

I'm not giving up my traditional Edward Jones IRA for either of Robinhood's IRAs. I wondered about Robinhood's options and I like building up dividends with the app but that's all.

[@Envision95]

I’m with td ameri trade I’m new just funding and want more education do you recommend a different company

[@SpazzedIN]

Thank you,

[@gloriamariadc7757]

RH has the best interface of any brokerage. Mindblowingly easy. If u can be responsible w/ a credit card, u can do RH responsibly. It's for the responsible. It's not a game.

[@meetrealestatemindset]

Do video on sep Ira please

[@OurRichJourney]

Thanks!

[@carrybigspeaksoft1758]

I think Robin Hood is a good starting point and once you get over the $50,000 amount transfer to a better company…. but I do agree with the gaming of investing and for people who can’t deal with that should definitely stay away from Robin Hood. I like your out look thank you

[@traviskeefe3484]

You mean 500,000?

[@lolololo3726]

You said it all, investing should be BORING !

[@OscarCastillo-fl9dw]

That’s y I like acorn is boring but easy to understand automatic

[@hrhsophiathefirst4060]

Nope I am a boring investor, automated in Indexes to get wealthy. I do not have any finance apps even banking.

[@BernardoAnderson]

I've been able to buy index funds on Robinhood. Do you mean you can't on IRAs?

[@Godfather9814]

I get it robinhood gets a lot of slack for the GameStop situation, making investing like a game and so on. But honestly for someone that’s slowly investing more and more for the future it’s perfect with the fractional shares, Roth IRAs and so on. People shouldn’t be emotional with the stock market regardless where they’re doing it, I’ve had stocks skyrocket and I’ve had some tumble but can’t freak out. As a person who’s focused on dividend/value growth stocks, ETFs and REITs it’s so easy to deposit money once a week in robinhood and have instant access to trade that money. But if you can’t help yourself to buy and sell constantly whether you’re up or down without knowing the implications maybe you’re better off playing an idle stock game 🤷🏻‍♂️🤷🏻‍♂️😂

[@lashawn369]

LaShawn from the DMV checking in while on Holiday Vacay in Deep Creek MD.

[@BiesingerFIREJourney]

Thank you for the in-depth video and cautionary warnings!! I was surprised to hear Robinhood offered retirement accounts (and skeptical) so I appreciate your research and breakdown! We are happy sticking to our Fidelity & Vanguard accounts 😁

[@deowahju]

Never thought Robinhood as a game, they’re user friendly. You don’t have to have only one brokerage account.

[@ggfien9373]

Honestly, I drive for Uber and want to own the stock. I buy a share a day in my ROTH IRA on robinhood until I max it out. They even match 3%!

[@thomasphillips8180]

I like the way the app looks and it's easy to use.

[@MasterRichStocksOptions]

Robinhood introduced a live customer service recently.

[@zerokoolTV]

Damn, you two are awesome. Thanks for the well explanation.

[@OurRichJourney]

You are too kind! Thank you!💕

[@TheQUBANQT]

I’m sticking with Fidelity, M1 Finance & Vanguard.

[@iamgratefuldailyy]

Fidelity customer service is 5 stars plus they answer questions a beginner may have.

[@kellyroyds5040]

Happy Holidays 🎉

[@OurRichJourney]

Happy holidays Kelly!!!❤️

[@Caseylawton]

I dont understand why people think an elegant UI/UX is "gamification" and encouraging more trades. I use it just like any other brokerage. The experience is just way better then the other programs

[@dancover3624]

With the Robin Hood Roth IRA can I put the 6,000 in that plus buy stocks through Robinhood the normal way or would I be penalized?

[@MichaelM2K23]

You can have an IRA account that exists separately from your regular brokerage account. You just need to make sure you’re paying attention to which account you’re using when you do your transactions. It’s like having two separate accounts at the same bank.

[@fakebake-bw4th]

You can invest IRA into ETFs and Bond's now

[@patwalker273]

Sticking with my Vanguard account.

[@qpdpd]

I believe the info told at 12:00 is incorrect now. I think they updated the terms and Roth IRA can now invest in etfs and bonds. Correct me if I’m wrong

[@crazyworld6370]

Good video

[@razzertazzer]

Merry everything!

[@tobirates916]

5 year commitment for a measly $60!! 😵‍💫

[@notorioustori]

Isn't that only if you invest your max for one year and stop? If you max out for all 5 yrs, it's $300, compounded, no? Or did I miss something? Also, the 5 yrs is not just RB. Even at my job, you're not vested until either 3 or 5 yrs. This means you can take out what you out in, but you can't take out what the employer matched until after you're vested.

[@chewie1355]

Thanks

[@OurRichJourney]

😊

[@biagomes1864]

Hello guys My question and concerns are how much can i transfer from robinhood to my bank account per day ( or all at once) if my account is over $150k. Thank you. Love you guys.

[@Midnight-hz3ep]

So you can’t invest in index funds / ETFs within the IRA? That is incredibly weird considering that you’re able to in your main account.

[@frankharris6136]

Robinhood hell no!!!!!

[@OurRichJourney]

😂😂😂

[@timcarp1964]

I transferred my IRA over to Robinhood Retirement. Unfortunately I thought I would receive the 4.5% interest on uninvested cash. I found out that's not the case. Rather than transfer out my money, I want to see if there's a way to make HOOD work. What do you do with uninvested cash in the retirement account?

[@BrianKehm]

I’m considering transferring over $100k Roth for the 3% bonus. Any issues transferring a portfolio from another provider?