Is the Robinhood 3% match free money?
I have about $100k in an IRA with Fidelity. It’s mostly invested in the default target date fund and I barely touch it. Robinhood is advertising a 3 percent match if I transfer assets as long as I keep it for 5 years and pay $10 per month in Robinhood gold.
What’s the catch or risk here? It looks like I could earn a cool $3k with this without risks.
I know Robinhood earns money on margins during trading but if I don’t do that and keep my IRA money untouched does that mean it’s essentially the same as keeping it in fidelity?
What happens during the transfer as I move to some fund in Robinhood? Is that where I may lose some money even for an equivalent index fund?
Submitted January 18, 2024 at 10:37PM by tinymammothsnout https://ift.tt/hD2UAV4
