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Nzoner's Game Room>Investing/Retirement question
Renegade 01:29 PM 02-29-2024
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]
Ming the Merciless 01:12 PM 03-01-2024
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!
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scho63 07:39 PM 03-01-2024
The Scottrade java applet that showed real time trading was the bomb. Showed true bid and ask. Tick by tick.

I saw Think or Swim and pretty good but could never get used to it.

I went to Wells Fargo short term and then opened Robinhood.
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lewdog 08:16 PM 03-01-2024
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.
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lewdog 08:20 AM 03-03-2024
Originally Posted by Ming the Merciless:
Charles Schwab just bought TdAmeritrade and the software called ThinkOrSwim

I personally love it and would recommend checking it out...been using ToS for years. A+

(if you use think or swim, it's self directed)

so you can open a schwab account and get think or swim free now)
I have Charles Schwab now after I started on TD Ameritrade.

Is the think or swim free, I don't seem to see it?
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Buehler445 08:50 AM 03-03-2024
Originally Posted by lewdog:
I have Charles Schwab now after I started on TD Ameritrade.

Is the think or swim free, I don't seem to see it?
https://www.schwab.com/trading/think...BoCmbUQAvD_BwE
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scho63 11:19 AM 03-03-2024
Originally Posted by lewdog:
I have Charles Schwab now after I started on TD Ameritrade.

Is the think or swim free, I don't seem to see it?
I think they acquired just the customer base and assets but will make you migrate to their platform.

I believe Think or Swim has sunk, just like when TD took over Scottrade. :-)
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lewdog 11:46 AM 03-03-2024
Originally Posted by Buehler445:
https://www.schwab.com/trading/think...BoCmbUQAvD_BwE
That doesnít appear to be free I donít think?
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Ming the Merciless 11:58 AM 03-03-2024
Originally Posted by lewdog:
That doesnít appear to be free I donít think?
it should be , I believe...

https://www.schwab.com/trading/thinkorswim/desktop

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
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Buehler445 12:01 PM 03-03-2024
Originally Posted by lewdog:
That doesnít appear to be free I donít 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.
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CatinKS 12:21 PM 03-03-2024
https://www.early-retirement.org/forums/

If you have any questions about retirement investing this forum is a great site.
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lewdog 01:26 PM 03-03-2024
Originally Posted by Ming the Merciless:
it should be , I believe...

https://www.schwab.com/trading/thinkorswim/desktop

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.

Thank you both.
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Buehler445 10:58 AM 03-04-2024
This must be a thing. WeBull is doing the same thing, but they'll bump it to 4.5% if you refer someone.

https://www.webull.com/ko-yield/1708508176523-bb98c7
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BigOlChiefsfan 10:30 PM 03-04-2024
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]
DenverChief 11:44 AM 03-05-2024
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.
61 years young eh?
[Reply]
Buehler445 01:36 PM 03-05-2024
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.
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