I have been sitting on an old 401K for a company I no longer work for. I left that money untouched for the past 8 years. It has almost doubled in value during that time.
I am really considering taking that money and transferring it to a Robinhood Gold IRA. They are doing a 3% match through the end of April if you sign up for the Gold (must keep Gold for 1 year $5 per month fee) I am well outside of the 5 year agreement for the IRA they require before penalty for early withdraw. I am figuring 7-9 years before Retirement.
I know very little about Robinhood. My current 401K is with Voya, and the fees are less than 1.5% annual. I would have to rollover to a traditional IRA as 98% of my 401K was before tax.
Is Robinhood any good for just setting up an IRA and not "investing" with it? [Reply]
Originally Posted by scho63:
Had a bad experience with Schwab but many people love them.
Ive had both schwab and TD for a long time...
I REALLY loved think or swim (the TD ameritrade app). My main complaint with schwab was I loved Think Or swim but schwab didnt have anything even remotely close to how cool that app was...
so schwab was smart and bought TD , mainly to get that app... So now you can use that app with your schwab account as long as you are self directed.
If youre not self directed, maybe your problem was with your broker... and switching brokers might be a good idea. Some brokers are better than others or just see more eye-to-eye with what you want.
If youre bored and have the time and motivation, you should check out think or swim though, you might dig it! [Reply]
I'm a believer in always rolling over your 401k to an IRA any time you leave an employer. It gives you more control and less expense than just leaving it sit in the 401k. [Reply]
Originally Posted by lewdog:
That doesn’t appear to be free I don’t think?
I don't have an account, but I think you should be able to follow the link, select the platform you want, log into scwab and download the software. [Reply]
if you've got a self directed account , you should be able to install the desktop TOS client and log into it...
I was able to use the same user name & pw as the website
Originally Posted by Buehler445:
I don't have an account, but I think you should be able to follow the link, select the platform you want, log into scwab and download the software.
It's free. I am gonna paper trade some things in there to test out some strategies.
I worked at the KC Board of Trade for 15 years or so, as an employee of the exchange, then as a trader. They sold out and let the Chicago BOT and the Merc have the bulk of that money - the current mayor of Chicago is chasing those fellows and all their tax revenue off to Florida. Anyway - don't overlook commodity trades - you've got to do some research but rule of thumb..if the dollar won't go as far, gold or wheat or silver-will. Head-sniffin' Joe Biden doesn't really get to mess with the price of commodities. Which is fine by me.
ETA: Time is an issue w/commodity markets - they 'run out of time' and you get the cash - or you sell your July contracts and buy December instead. It's not a 'fire and forget' market. It's exciting as hell when you're there -and right. It's pretty much designed to bilk the ignorant. But if you're interested, it's a good way to park money and make some if you park it correctly. [Reply]
Originally Posted by TrebMaxx:
No advice but I just checked my retirement countdown clock and saw 7 months and 18 days. Brought a slight smirk to my face.
Originally Posted by BigOlChiefsfan:
I worked at the KC Board of Trade for 15 years or so, as an employee of the exchange, then as a trader. They sold out and let the Chicago BOT and the Merc have the bulk of that money - the current mayor of Chicago is chasing those fellows and all their tax revenue off to Florida. Anyway - don't overlook commodity trades - you've got to do some research but rule of thumb..if the dollar won't go as far, gold or wheat or silver-will. Head-sniffin' Joe Biden doesn't really get to mess with the price of commodities. Which is fine by me.
ETA: Time is an issue w/commodity markets - they 'run out of time' and you get the cash - or you sell your July contracts and buy December instead. It's not a 'fire and forget' market. It's exciting as hell when you're there -and right. It's pretty much designed to bilk the ignorant. But if you're interested, it's a good way to park money and make some if you park it correctly.
As a guy that hedges grain, I want no part of speculating any of that. [Reply]
