What’s Under the HOOD?
$45k transfer bonus this month
I just opened a new Robinhood Gold account at Robinhood (HOOD) today. Here’s what I get:
· 5.25% APY on uninvested cash: Earning on my uninvested cash with their boosted rate! After 60 days, I’ll continue to earn 5%. $2.25 million of my cash is FDIC-insured through partner banks.
· Free $1k of margin: I get $1k of margin for free — so I can currently buy $1k of BOXX on margin to more than pay for Robinhood Gold without risking principal or paying inefficient taxes.
· 3% IRA match: I get their highest IRA match. I can keep it by staying with Gold for a year and holding my IRA assets for 5 years.
In theory, IRA champions with hundreds of millions or billions of dollars in their IRAs could get a fortune from this offer. In practice, I’m capping mine at the SIPC insurance limits of $500k per account (or $1.5 million across a 401(k), trad IRA and Roth). But that’s still $45k off the bat to start compounding today. This offer is good through the end of this month. So join Robinhood and upgrade to Gold to harvest this transfer bonus.
