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Anyone use RobinHood App to invest?

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  • Anyone use RobinHood App to invest?

    Do you like it?

  • #2
    I have an entertainment account that I fund with $100/month, currently valued north of $3700 that I use to buy individual stocks and occasionally sector or specialty ETFs. I do not trade much, as I do not want to deal with cap gains and the paperwork for small positions. I am probably the only one I know that made a (small) profit on SNAP, other than the insiders.

    My current holdings include Berkshire Hathaway, JNJ, Starbucks, Target, VISA, and the ishares European stock ETF, among others.

    To be honest, over time, I have found this to be less "entertaining" than I would have thought and occasionally feel slightly burdened by the idea that I need to come up with a place to put my new money. Then again, whenever I read about a "hot stock to buy now" or less dramatic, an interesting investing theme, rather than putting real money to work, I buy the position in this play account.

    As a standalone brokerage account for all seasons, it does not have enough of the bells and whistles that a full service institution, like Fidelity or Vanguard, where 95+% of our public market investments are held.

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    • #3
      From NerdWallet:

      Robinhood is best for:



      • Frequent stock or ETF traders

      • Mobile users

      • Individual taxable accounts

      • Margin accounts


      while i have a taxable account, i dont need any of this.

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      • #4




        I have an entertainment account that I fund with $100/month, currently valued north of $3700 that I use to buy individual stocks and occasionally sector or specialty ETFs. I do not trade much, as I do not want to deal with cap gains and the paperwork for small positions. I am probably the only one I know that made a (small) profit on SNAP, other than the insiders.

        My current holdings include Berkshire Hathaway, JNJ, Starbucks, Target, VISA, and the ishares European stock ETF, among others.

        To be honest, over time, I have found this to be less “entertaining” than I would have thought and occasionally feel slightly burdened by the idea that I need to come up with a place to put my new money. Then again, whenever I read about a “hot stock to buy now” or less dramatic, an interesting investing theme, rather than putting real money to work, I buy the position in this play account.

        As a standalone brokerage account for all seasons, it does not have enough of the bells and whistles that a full service institution, like Fidelity or Vanguard, where 95+% of our public market investments are held.
        Click to expand...


        I've heard that RobinHood does not have as many features and that's the trade-off for free trades. I don't plan on becoming a day-trader, just buying and holding a few stocks and ETF's for the long run. Will this be sufficient for my needs?

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        • #5







          I have an entertainment account that I fund with $100/month, currently valued north of $3700 that I use to buy individual stocks and occasionally sector or specialty ETFs. I do not trade much, as I do not want to deal with cap gains and the paperwork for small positions. I am probably the only one I know that made a (small) profit on SNAP, other than the insiders.

          My current holdings include Berkshire Hathaway, JNJ, Starbucks, Target, VISA, and the ishares European stock ETF, among others.

          To be honest, over time, I have found this to be less “entertaining” than I would have thought and occasionally feel slightly burdened by the idea that I need to come up with a place to put my new money. Then again, whenever I read about a “hot stock to buy now” or less dramatic, an interesting investing theme, rather than putting real money to work, I buy the position in this play account.

          As a standalone brokerage account for all seasons, it does not have enough of the bells and whistles that a full service institution, like Fidelity or Vanguard, where 95+% of our public market investments are held.
          Click to expand…


          I’ve heard that RobinHood does not have as many features and that’s the trade-off for free trades. I don’t plan on becoming a day-trader, just buying and holding a few stocks and ETF’s for the long run. Will this be sufficient for my needs?
          Click to expand...


          Yes, I expect so. It's a very bare bones experience.

          Comment


          • #6
            why cant you do this at fidelity, or vanguard, or schwab?

            Comment


            • #7




              why cant you do this at fidelity, or vanguard, or schwab?
              Click to expand...


              I can but why pay $10 a trade? I just want to dabble in stocks for fun.

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              • #8
                Why are you paying anything anywhere?

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                • #9




                  Why are you paying anything anywhere?
                  Click to expand...


                  huh?

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                  • #10
                    There are better ways to get free trades.  What I do is buy most things through Merrill Edge.  30 free trades a month if you're a Preferred Rewards member.

                    Going with Vanguard or Schwab and only buying their funds/etf's isn't bad either, though this is less ideal when you prefer other options, or want to tax loss harvest out of them.
                    I sometimes have trouble reading private messages on the forum. I can also be contacted at [email protected]

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                    • #11




                      Do you like it?
                      Click to expand...


                      I have it... haven't funded it yet.

                       

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                      • #12




                        Going with Vanguard or Schwab and only buying their funds/etf’s isn’t bad either, though this is less ideal when you prefer other options, or want to tax loss harvest out of them.
                        Click to expand...


                        I don't know what that means?

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                        • #13
                          I've been using Robinhood for about 3 months now. I love not having to pay fees and how easy it is to use the app. It's a fun way to play around with stocks. I don't sell frequently because I don't want to deal with capital gains taxes which will kill any earnings you make.

                          As of now, you cannot donate stocks to charities through Robinhood but I emailed the company and am hoping that will be an option in the future as I donate to my church on a regular basis and being able to donate stocks allows you to avoid the tax hit.

                          I was just taken off the waitlist to be able to trade in cryptocurrency without fees, but I have yet to do so.

                          I would say Robinhood is a great way to get involved in the the stock market, but only after you have all your other personal financial goals in order, ie emergency fund, retirement, debt, etc.

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