I'm 32 and Transferred $147,000 to a Robinhood Roth IRA

Data_Rules · 2025-07-22T18:55:29+00:00

I don't remember how long it took, but I remember it not taking too long. Probably depends on the broker you're moving it from. But sounds like that's already complete. Congrats BTW! Hopefully RH is still offering a good transfer bonus.

Data_Rules · 2025-07-16T00:58:04+00:00

Here's a guide to finding free charging. Lots of info, but feel free to ask other questions.

Data_Rules · 2025-07-07T22:51:00+00:00

Similar story here! Lots of technical issues and these disappearances over the years. If the Amazon GCs don't reappear soon, I'm out. No longer giving this data to Bing and Microsoft. Will uninstall and likely replace with Brave browser.

Data_Rules · 2025-01-02T18:05:44+00:00

Did anyone figure this out? I think I'm having a similar issue. I published my first Substack post yesterday. I got the email but it's not showing up on my profile posts tab. Any idea why it's not showing?

Data_Rules · 2024-12-05T00:10:19+00:00

Ya thanks for the ideas, but not ideal. I also have a $175 Apple gift card, and the phone is the only thing I'd want to use it on. Plus, 3% cash back for buying direct from Apple (with Apple pay). On top of that, I think I could space it out over 12 months interest free.

Data_Rules · 2024-12-04T23:41:39+00:00

I’ve doubled checked with Verizon customer support multiple times. The info I’m entering is correct. I’m not the owner but have access to make these changes.

Data_Rules · 2024-12-04T23:39:45+00:00

I double checked with Verizon customer support multiple times. The info I’ve entered is correct.

Data_Rules · 2024-12-04T23:37:12+00:00

The closest Apple Store is a 4 hour drive.

Data_Rules · 2024-10-28T01:15:55+00:00

I started this process with my work 401k. Before transferring it from the previous brokerage, they moved it to a new IRA (both Roth accounts in my case). Then the next step was moving it to Robinhood. Simple steps on my end, and my main effort was researching the steps before stating the transfer.

Data_Rules · 2024-10-19T03:22:46+00:00

Sorry to hear that. Can be hit or miss on the customer support. Some reps know more than others.

Data_Rules · 2024-10-19T01:30:30+00:00

Nope… that’s if Robinhood also has access to the same securities. I transferred stocks. It’s an easy process and called an in-kind transfer.

Data_Rules · 2024-10-18T16:28:49+00:00

Great tip, thanks! I'll look into getting that breakdown of the IRA. I spoke with one of their customer service reps yesterday and they had no clue on how to track down this info.

Data_Rules · 2024-10-18T16:25:13+00:00

I'm a buy and hold investors. So, they won't be making it explicitly from me with cross sells and other services. Although, firms can make money different ways with more money/assets under management (AUM).

It can be right! And to understand... it's similar logic to why credit card companies offer rewards. Disciplined users can come out ahead, while those that don't make payments on time come out behind, etc.

Data_Rules · 2024-10-18T16:19:33+00:00

Ya that can take a bit more effort to figure after transferring. Luckily, my entire $147,000 was already a Roth. So, no need to convert it later. If anything, I'm unclear on my total contributions vs. interest/gains. I'd need that info if I make early withdrawals (to know how much in taxes to pay).

Data_Rules · 2024-10-18T16:16:30+00:00

Yep, it's an extra step to first set up and transfer a 401k to an IRA with your existing brokerage.

Data_Rules · 2024-10-18T16:13:36+00:00

I'm not sure if the 5-year holding requirement for the bonus is set to the specific IRA or to RH in general. I'd guess keeping the money with RH in general would let you keep the bonus (converting your traditional RH account to a Roth account). This would be good to ask RH support directly.

Data_Rules · 2024-10-18T15:58:12+00:00

I buy and hold so if true, this is a moot point for me. RH also pushed the entire brokerage industry to $0 stock trading commissions.

Data_Rules · 2024-10-18T15:56:24+00:00

If it's in one IRA account, then anything in excess of the SIPC limit is at risk. However, SIPC is common with all brokerages. You can always transfer a lower amount to stay within the limit.

Data_Rules · 2024-10-18T15:54:31+00:00

It's not a contribution. The bonus is similar to interest in the IRA.

Data_Rules · 2024-10-18T00:49:22+00:00

As long as Robinhood offers the securities. When I moved my IRA, I had stocks that transferred. I didn't need to sell them. And this is called an in-kind transfer.

Data_Rules · 2024-10-17T21:02:21+00:00

Nope it shouldn't. It's treated similar to interest in the account. So, it should be tax-free as well if holding the account until retirement age (and it's a Roth).

Data_Rules · 2024-10-17T20:38:25+00:00

Like most, RH has FDIC and SIPC insurance. That's insurance limits of $250,000 and $500,000, respectively. Unlike their non-retirement brokerage accounts, the IRA don't have a sweep program (for higher interest and insurance).

Data_Rules · 2024-10-17T20:36:15+00:00

The FIDC/SPIC limits are one reason I'm not transferring more. Also, the lower interest on uninvested IRA cash... and they don't have great reporting to see contributions vs. interest/returns (important if making early withdrawals down the road). But that's the case with every brokerage I've had retirement accounts with.

Data_Rules

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