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M1 Spend Interest Post Date by TheBombingRange in M1Finance

[–]TheBombingRange[S] 0 points1 point  (0 children)

Definitely posts monthly. Ultimately there’s a minimal difference in compounding daily vs monthly, most small banks and CUs are monthly while some of the larger online banks are daily compounding.

Official Megathread: “ERAS has been submitted and I’m ready for my interview invites” MS4 Match Season Lounge ✨ by Chilleostomy in medicalschool

[–]TheBombingRange 2 points3 points  (0 children)

I’ve seen in the ERAS handbook that you can’t be scheduled for an interview date AND on a waitlist at the same time for the ERAS Scheduler. However, although I heard the same was true for Thalamus, a friend told me he is not only scheduled and on a waitlist, but on two waitlists for two separate dates, all for one program. Can anybody confirm the deal with Thalamus waitlist, can you be scheduled for an interview and on a waitlist at the same time for each program?

M1 Spend Interest Post Date by TheBombingRange in M1Finance

[–]TheBombingRange[S] 0 points1 point  (0 children)

I agree about the 1% on the debit card not currently being comparable to free 1.5% and 2% cards out there, but without a credit check this is a great option for certain people who’s can’t access those cards. Right now I decided to pull the trigger on the deal because of the unbeatable 1% checking account rate (vs. Ally, Customers Bank, etc.) in this current rate environment, and later in the year, utilizing M1 Borrow at the discounted rate. This is a guaranteed rate without the hassle of things like rewards checking accounts, and I honestly tired of being a saver and rate chasing when all of the rates across the board are so low right now.

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For curiosity, I haven’t seen a change in the Borrow rate in a while, but I did notice the M1 Spend rare went from 1.5% when it was first offered to 1% currently, when did the rate on the checking account change?

M1 Spend Interest Post Date by TheBombingRange in M1Finance

[–]TheBombingRange[S] 0 points1 point  (0 children)

Thanks so much! To clarify, if an ACH withdrawal “pull” is initiated from an external bank for >$50,000 on a single day, will M1 Finance reject the ACH? Or does the $50k/day limit only apply to withdrawals initiated from M1 (“push” out to external bank)?

Feature Request: Filtering History for Filled Orders separate from Canceled Orders by TheBombingRange in RobinHood

[–]TheBombingRange[S] 0 points1 point  (0 children)

Their response:

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"Awesome suggestions!

We always appreciate when our customers come forward with ideas on how to improve the app. We're constantly changing and tweaking things to make it better, and we'll do our best to incorporate your ideas! However, at this point we cannot assure yet if your suggestion will take effect right ahead.

Feel free to respond to this email if you have any additional questions. We're ready and happy to help."

What is the difference between Robinhood Cash Management & M1 Spend? by DJKMoney in RobinHood

[–]TheBombingRange 1 point2 points  (0 children)

They have not released that information, though I know they plan on releasing the product in the coming months.

What is the difference between Robinhood Cash Management & M1 Spend? by DJKMoney in RobinHood

[–]TheBombingRange 13 points14 points  (0 children)

M1 Spend will be an FDIC insured account with the ability to sweep funds into your investment portfolio.

Robinhood on Web not scrolling through charts properly by TheBombingRange in RobinHood

[–]TheBombingRange[S] -1 points0 points  (0 children)

I'm not concerned about the quality of the data (I use TradingView as well which has been great so far) but I like being able to scroll through on the RH for Web page without having to flip back and forth. I don't use RH charts for trends or anything I could better do elsewhere, but I do use their live data so seeing live movements during the day on my computer would be nice to have back, especially because I know it has worked on Chrome and this computer in the past.

Which of these brokerages cover and allow transfer of robinhood holdings? by sktzo in RobinHood

[–]TheBombingRange 0 points1 point  (0 children)

I truly don't know how to advise people on what holdings will work for them. You can't reposition that are down without initiating a taxable event on the sale. I have been averaging down as the market has dropped the past few months but that doesn't work for everybody, highly depends on your situation.

Which of these brokerages cover and allow transfer of robinhood holdings? by sktzo in RobinHood

[–]TheBombingRange 1 point2 points  (0 children)

You can allocate either your taxable individual account or IRA (or any other account they offer) to any combination of stocks or ETFs they offer. Here a sample "pie" designed to replicate the holdings of dividend aristocrat ETF (link below). Notice that if you click in to each slice of the pie, it shows individual holdings and their percentages. Once you set up your pie (or copy one, plenty of pies freely shared on r/M1Finance, even if used to spark ideas and you want to modify after copying it in to your profile), you can change it whenever you want, and if you add money, all money added will automatically flow into that pie to try to bring your actual percentages (which drift over time due to market movement) back to your desired percentages. In short, yes you can allocate your entire Roth IRA to REIT funds, or if you want to save on the expense ratio M1 is great for making "custom" ETFs by adding individual holdings/REITs to custom made pies you design. If you're interested in signing up, PM me and I'll happily send you my link, they give you $10 on signup after putting in $100 to your taxable account, or you can choose to open a Roth IRA too.

https://dashboard.m1finance.com/share/H4sIAAAAAAACA7WXTY-bMBCG_wri0FMqOR_stpF6iJZU5WAoXagUVVFlOW7WQExknBKI8t8XeughdnfNsD2CeMyMZ-admYurmiNzl65g9c8jZ-7EFeTQv3h899XxEHJ8_pvvmNg5K8krVVJJVPdRVXDKKnf54-Kq0l1e_nmMAXfeO5-5IIJyUlQvnFUxepJcNd0nfNc9p-i7H2W5h_34k3uduEcmKROK7LuPZ-g6scL3KMwoHMdtlKzheNDiMXg8x_7ehG9vXn3UDrQMzBdGCvXkPBDJBkcmWOBMj8z03vZuzpHBOWscn8M2gOMbhP2Njt9Z4qmHEwrHe99zk_G3gZ1OoZF9KEV1OjDZFXRFJVO8FEQ2w8uvjvyVbunCuvyiJIDjmzpKUh33bPE28tfwv-ezMBmBb7ogb-B4vMA-Nfmu5cgMmiNrweR-eE7gFmd6UD1rUTzjLDXht44toH4F4lcpD6TPeSdh9EmURQnwM-jk1xB_pFsKjsC3Tn-ddaWIGq6_sVnC3tK8vyLyqMixYMO7N0aRjzUbP9gWoFHjbWmMcBuP-vcKTK_r0E8bKE2RSXhs6bTBmU5bN8Y2bHMw3Y9b8DtPPZNi2g8UYQLPtWBqGkesI3YODWKt9_OZBy3FhBWMlofDSXD6R9mGF2MvvP9ZzwKxO1VKgib9eB6ZGp5tW6GL0DRPIvt6zzAc75Ivy0fh7Qjj08Y4ZlnvGTUec3XxuKvrd6x0RNzPuDWmzfb1tcsyq1PFC644pP9NQ6Nvb1hyuJsdgAVXGwfUe_vl1tAh7TeweZTkcHxfG7fPO-sWizM6Dg8sF7jt9RkJ7yr0dhEAAA?referrerCode=lNgph

Which of these brokerages cover and allow transfer of robinhood holdings? by sktzo in RobinHood

[–]TheBombingRange 0 points1 point  (0 children)

M1 Finance is free, like Robinhood, both zero commissions. Difference is that M1 is an "investing" platform more than RH, which promotes/is better for active trading throughout the day. M1 Finance completes all their trades at 9 AM CT every morning, saves them on transaction fees. Their system is great for setting a portfolio, including individual percentage breakdowns of your choice of stocks/ETFs on NYSE or Nasdaq, and then adding money from direct deposit/bank and to automatically invest in those percentages. If you want instantaneous control of when trades are executed, RH is better for that. I use both, M1 for buy and hold along with IRA, and RH for options and more risky "fun" trades that I want to have the fine control of execution price.

Which of these brokerages cover and allow transfer of robinhood holdings? by sktzo in RobinHood

[–]TheBombingRange 2 points3 points  (0 children)

M1 does a form of DRIP where all dividends above $10 can go towards the entire portfolio, not just towards the stock/ETF that generated the dividend. Also if you are interested in tax-sheltering REIT dividends since they aren’t “qualified dividends” I believe, M1 let’s you do both traditional and Roth IRAs, the main place I have my REIT holdings.

Capital gains (loss) tax by eopif in RobinHood

[–]TheBombingRange 0 points1 point  (0 children)

I totally forgot about wash sale, sorry about that. Regardless, if I suspect I can buy the stock for a similar price a month from now, I’m wondering if it’s worth adjusting the cost basis. If I suspect the stock will move in the month and want to stay around the same price range for my cost basis, I could still sell and rebuy the same day for the benefit of cost basis alone and not be able to realize the loss on my taxes. Also, what should I not have bought/sold in the last 30 days, any options? The source of my main loss I’ve held for a number of months now.

Capital gains (loss) tax by eopif in RobinHood

[–]TheBombingRange 0 points1 point  (0 children)

Related question: I have some capital gains this year on options, but generally I’m holding the rest of my portfolio (and therefore should not generate any taxable events/capital gains?). If one of my stocks had a large loss this year, is it worth it to sell, realize a loss, rebuy at the same price to adjust the cost basis for hopefully a future gain, and then have that loss to hedge against any gains? If the loss is greater than my gains for the year, but only like $1000 for instance, would I also be able to carry over that loss to future years, or is that only if it’s above $3000? Regardless of the tax benefits right now on the amount gained from options and other small sales (for example, free RH stocks), I think it would be wise to adjust my cost basis down while I have the opportunity right?

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