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Anyone use RobinHood App to invest?

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  • Testicular Torsion
    replied
    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.

    Leave a comment:


  • I Find This Humerus
    replied




    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?

    Leave a comment:


  • adventure
    replied




    Do you like it?
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    I have it... haven't funded it yet.

     

    Leave a comment:


  • Lithium
    replied
    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.

    Leave a comment:


  • I Find This Humerus
    replied




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


    huh?

    Leave a comment:


  • Peds
    replied
    Why are you paying anything anywhere?

    Leave a comment:


  • I Find This Humerus
    replied




    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.

    Leave a comment:


  • Peds
    replied
    why cant you do this at fidelity, or vanguard, or schwab?

    Leave a comment:


  • VagabondMD
    replied







    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.

    Leave a comment:


  • I Find This Humerus
    replied




    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?

    Leave a comment:


  • Peds
    replied
    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.

    Leave a comment:


  • VagabondMD
    replied
    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.

    Leave a comment:


  • I Find This Humerus
    started a topic Anyone use RobinHood App to invest?

    Anyone use RobinHood App to invest?

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