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26 comments
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Just to make it clear, to make a full $6,000 Roth IRA contribution in 2022, the income limit is $129k for single filers and $204k for married filing jointly. It's shown in your table at 02:00, and what you said was correct, but the $129k/$204k limits are more important to highlight.
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Wow that suck
I’ll pass on anything SBF still has his fingerprints on.
Talking about Robinhood on a Webull sponsored video 😂
If Robinhood goes bankrupt is your IRA insured? Would suck to loose 100% trying to gain 1%
Hopefully, M1 Finance will start doing this. Thanks for posting.
You can still contribute to a ROTH using a mega back door. Basically you just convert your traditional account to Roth each year.
Roth way better…
Interesting for people who dont already get 401k/403b matching from their employer, since those are typically more than 1% matched. But handy for people who might be self employed
IRA isn't Individual Retirement Account, it is Individual Retirement Arrangement. 🤔
Nope, IRA is NOT Individual Retirement Account 🙂
I wouldn’t trust Robin Hood with soccer ball let alone my money
I wonder if this will make people more people get on Robinhood!
The deadline is actually whenever you file your tax return for that year and NOT the last day to submit returns
Why don’t you just do a back door roth?
Hi Ben, at the bottom of the terms of service you agree to Stock Lending which means your account will not be SIPC insured if Robinhood loans out from your account.
There are income limits on both Pre-tax and Roth IRAs. In fact, the income phase out on traditional IRAs is even lower than on Roth IRAs
I know some nuckle heads with a Robinhood account who have no idea they actually have a Brokerage account. I doubt they’d be excited about this Roth IRA.
You need to shave that off bro
They're hungry for cash if you can't use existing funds. Free trades and bribes to contribute, something smells fishy.
Does Robinhood give you the option to do a backdoor Roth IRA on the platform, converting a traditional to a Roth as simply as, say, Vanguard does?
ROBIN HOOD SUCKS 7.32B$ MARKET CAP??? WHAT EVIDENCE DO YOU HAVE THAT YOU'RE ACTUALLY TRADING ON AN EXCHANGE, AND NOT JUST BETWEEN OTHER USERS ON THE APP?
To call this an IRA match is pretty disingenuous. When an employer offers a 1% match, usually that means the employer will match dollar for dollar up to 1% of the person's SALARY. So if a person is making $100K and puts in $1000, the employer will also put in $1000 resulting in $2000 in his account, essentially giving the employee 100% on his money.
Robinhood, on the other hand, is simply giving out 1% interest on a brokerage account. Better than nothing I suppose, but to call it an IRA match is almost criminally misleading.