/biz/ - Business & Finance

>>52757396
free 1% take it if you're getting 0% match

>>52757413
Don’t have an IRA, so don’t know much about it

My company is shit in that regard but right not baby on the way and health insurance is very good so can’t switch jobs, plus I make a decent amount so stocks/crypto have been my play

Don't do it, Tanner.

There’s gotta be a catch

Of course there's a catch goyim. You think your 1% / year will match a long lasting decade of 3-5% inflation?
That's why you need to chose your horse carefully or you will lose the inflation race.
>Hint : cash is trash during inflation, dollar was great until now and it's still the best west-currency but overall currencies will take shit.

And no I'm not ahilling pmg, these retards have been right. However for a long term investment buying gold / silver / commodities is a smart play cf turtles traders.
Enjoy

>>52757605
What if I’m already planning on holding certain stocks till retirements like uranium stocks? I’m assuming “IRA” is just a fancy way of saying you can’t take this out until retirement or x amount of time without penalties.

>>52757396
>a roth with a match
I'm gonna look into it

>>52757396
If I can invest all that money in stocks that will get me x% plus another 1%. That is a good deal.

>>52757745
That's personnal but I wouldn't invest over the next 5-10 years. We might get inflation, it could last years but the moment shit it the fan aka weimar style, every ira & retirement program will be worth nothing. Already happening in France (ira equivalent are creating laws to forbid people to withdraw money from their account to avoid massive panic mode which means retirement plans products are in deep trouble)
But again that's my take.
Uranium is good, careful with selection. During inflation only great companies will thrive. Personally I buy directly the uranium "indice" this way I don't think too much about companies, the indice do the filter for me. Cameco has a good chart (i would buy only stable monsters)

>>52757510
>please leave your money with us
>we're totally not about to go under

>>52758108
DNN, Cameco, CCJ, are some of the plays

So what just put majority into cash? Or inflation hedgers like gold/silver? I have a hard time convincing myself to buy silver and gold when I can never sell it more than spot price but when I purchase I pay 15% over spot minimum it seems

>>52757396
Might as well if you are doing an ira anyways
What is wrong with robinhood? I use tda but all the normans I know use rh. Both tda and rh sell orderbook flow

>>52757396
Ira limit is $6000, so they give you $60 if you max? Not really a game changer. Probably better to look at fees on the funds and things you want to invest in as those will cost you more in the long run.

am i retarded if I withdraw it all from my 401k? I really don't see the stock market or the USA even existing in 30 years by the time I can access it. seems smarter to use the cash now while I'm young and alive.

>>52758675
I think you're probably financially illiterate

>>52757605
you invest the money in an IRA. the 1% is a one-time match

Yeah from what I see it’s free money if you were already planning on investing. My question is could I pull out funds in 10 years if need be?

>>52758844
some but not all. look up the rules for ira accounts

>>52757605
You have no fucking idea what you are talking about and then you just come in shilling precious metals. Average fucking silver "investor" right here everyone.

>>52758778
i think you're probably a nigger

>>52759063
A nigger definitely drains his 401k every time he changes jobs. You want to live like that?

>>52759063
yeah low time preference, classic nigger behavior

>>52758636
>I have a hard time convincing myself to buy silver and gold when I can never sell it more than spot price but when I purchase I pay 15% over spot minimum it seems

Depends what you're buying it for. If you just want to trade and profit from price appreciation you can buy paper gold like GLD and SLV. That obviously doesn't work if you are buying PMs as a hedge against the financial system, but then you shouldn't care about a 15% premium that much.

>>52758108
IRA has nothing to do with what you invest in. You can put money in an IRA and buy individual stocks. You can even go the route of making an LLC that your IRA owns, and you are the manager of, and you can open bank accounts for IRA's LLC and buy w/e the hell you want including crypto, the only restrictions are things like art, physical collectables, and they the custodian must have some control over it.

>>52757396
>>52757605
The catch is they can just get rid of the 1% any time, then you have an IRA at robinhood you have to transfer. I assume its only on new money, so since the limit is $6,500/year, you will get $65 after 1 year. Its actually not that great. Like if you transfer over your existing IRA you probably won't get 1% on that balance, just what you contribute to robin hood. And they'll probably nix the program in a few years. Maybe you'll get $65 the first year, $130 the second, etc. so maybe after a few years you'll get a few hundred before they nix it. Up to you if that is worth applying for, using robin hood for a few years, and then transferring the money out.

>>52759395
to add, its a ONE TIME 1% boost on contributions. So even if robinhood keeps the 1% forever and you use the robinhood IRA from when your 22 to 60, you will only have a 1% higher balance.

>>52758844
https://www.investopedia.com/articles/retirement/02/111202.asp

>>52757396
Wow, a free $60 a year if I contribute the max of $6,000!

>>52759535
its only useful if you dont ever expect to have a job that matches more than 1%

>>52758637
Robinhood is probably insolvent and likely the next FTX. Seems like a last minute cash grab. Focus on yourself:
https://m.youtube.com/watch?v=7PbFZVYwrL4

>>52759690
>>52759535
or I guess in the meantime until you have one that does. Idk if transferring incurs any fees generally

>>52759700
Robinhood is FDIC insured. as long as you dont have more than $250k in any of your robinhood accounts then it doesnt matter

>>52757396
Between this and the notifications/emails they have been spamming out lately, it sounds like robinhood is desperate for liquidity. Hoping no one notices that crypto partner JumpTrading lost $1B in the FTX bankrun. Also that SBF owns 10% of their company and has been trying to liquidate his holdings for $9/share and that was before this story was in the spotlight.

>>52759700
>>52759731
And you own the stocks in your account not them. I guess it could be a big headache but you won't get rekt

>>52759700
Based video btw. I went down a rabbit hole of law of attraction stuff once and basically it's all true your only limited by your own creativity.
How are you going to win the lottery if you never bought a ticket?

>>52759794
Law of attraction is not true, it's partially correct because they're recognizing a pattern but draw the incorrect conclusions. I'm in sales and I meet people in this CULT. There are guys I know who literally say "affirmations" to themselves in the shower about how a million bucks is coming to them. I'm not saying it's all untrue I'm just saying be careful with these partial truths. A lot of the time a small truth is converted into a large lie and we get duped while someone acquires money and power. Be wise and keep your wits about you. Just had to tell you since we're so much alike! You attract what you are! ;)

>>52757396
There's no catch but you stand to make more on interest in your cash account, which is protected up to 250k anyway.

>>52757396
seems kind of sus no cap fr fr, is that money insured in any way?

>>52760255
well you have SIPC which will cover $500k of securities. and stocks you own in a brokerage are also your property, so exempt from a robin hood bankruptcy, if they just ran out of money. It would only be an issue if their margin system failed or something.

>match*

Its not a real match niggers. A match implies 100%

>>52760628
thats why its a 1% match, they match 1%. glad I could clear things up for you

>>52760958
It is kinda of a misrepresentation though. Like a company might say they match "4%" but what they mean is they match 100% of 4% of your income which is like thousands of dollars. But roobinhood's "1%" match is actually matching 1% of the IRA contribution, which ends up being $65 max.

>>52760958
Then dont call it a match retard. Thats like giving away a FREE toaster except its actually 1% free, you still pay for 99% of it.

>>52761175
what the fuck would you call it? they're matching 1%, it's as literal as it can be. concise, and effective at getting the point across if you independently understand the meaning of "1%" and "matching" as it applies to retirement accounts. the same shit you'll see in employment contracts

>>52761029
in terms of retirement accounts, I;ve never heard this language used. the max is like 6k per year, so if they're "matching" a percentage of your income(which isnt matching if you;re not putting it into an investment account), then they could easily be maxing out your contribution alone which wouldnt make sense. and in that case, they would probably just say that they contribute 100% of applicable funds to your IRA

>>52762300
That's how most 401k matching works though. When you set up your 401k contributions, most people configure it as a percentage of their income, like 4, 5, 6%. Unless your maxing your 401k, you probably aren't putting in a dollar amount. So companies usually offer something like 3% dollar for dollar match. Which means they will match up to 3% of your income contributed to your 401k. But that "match" is 100%. Or it could be something like matching 6% of your income with 50%. But either way, the benefit is thousands of dollars, compared with $65 with this "1% match."

i mean free money is free money. I probably don't have the funds to max out my IRA this year though so I might not but if theyhave free transfers and will do a match I'd consider it since I just have my IRA parked in VTI + VXUS and then in GUNR for commodity exposure instead of bonds

>>52759395
yeah maybe so but it doesn't really matter where your IRA is unless you're trading in it on the regular like a degenerate.

>>52758675
yeah you're a fucking dipshit. Let your retirement account be your hedge against gettting old and gambling your funds away on shitcoins or whatever stupid fag shit you were thinking retard. If you think your 401k is going to zero then I assure you we've got way bigger problems ahead of us that money isn't gonna solve unless you're armed to the teeth with supplies.

or if you wanna pull it out and long cumcoin because "bro the dollar is getting fucked!!!" then knock yourself out