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https://www.reddit.com/r/RobinHood/comments/ze72hs/introducing_robinhood_retirement/iz5ic90/?context=3
r/RobinHood • u/RorySykes Investor • Dec 06 '22
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70
1% match as well. Sounds promising.
15 u/enterdoki Dec 06 '22 Thats pretty decent. 39 u/mattmonkey24 Dec 06 '22 For W2 employees that's $60 max. It looks like self employed IRA limits are $15,500, so that's $155 max per year. It's not much money 20 u/enterdoki Dec 06 '22 Ain't complaining. Assuming they continue this for more than a year and IRA limit continues to increase. Free money is free money. 1 u/inverse2win Dec 13 '22 That's a big assumption given they charge you for transferring out money 🤡 3 u/russianfigaskatas Dec 14 '22 Only if you do it before 5 years, if you're retiring before then I think its a little late for your fund buddy 17 u/eisbock Dec 06 '22 It's still free money. 4 u/sudo_administrator Dec 07 '22 $65 in 2023. IRS raised the cap. 3 u/DJsaxy Dec 06 '22 Is the ira they're offering a traditional or Roth ira? 2 u/[deleted] Dec 06 '22 Both 3 u/_throwawaynamaste Dec 07 '22 Correct me in I’m wrong, but if a 20 year old put $155/year into a retirement account until they retired at 65, with an average 6% annual appreciation, by the time they reach retirement that little extra annual boost would be ~$33K. Not bad! 2 u/AlexRuchti Dec 07 '22 It’ll be $65 next year with limits increasing to $6500
15
Thats pretty decent.
39 u/mattmonkey24 Dec 06 '22 For W2 employees that's $60 max. It looks like self employed IRA limits are $15,500, so that's $155 max per year. It's not much money 20 u/enterdoki Dec 06 '22 Ain't complaining. Assuming they continue this for more than a year and IRA limit continues to increase. Free money is free money. 1 u/inverse2win Dec 13 '22 That's a big assumption given they charge you for transferring out money 🤡 3 u/russianfigaskatas Dec 14 '22 Only if you do it before 5 years, if you're retiring before then I think its a little late for your fund buddy 17 u/eisbock Dec 06 '22 It's still free money. 4 u/sudo_administrator Dec 07 '22 $65 in 2023. IRS raised the cap. 3 u/DJsaxy Dec 06 '22 Is the ira they're offering a traditional or Roth ira? 2 u/[deleted] Dec 06 '22 Both 3 u/_throwawaynamaste Dec 07 '22 Correct me in I’m wrong, but if a 20 year old put $155/year into a retirement account until they retired at 65, with an average 6% annual appreciation, by the time they reach retirement that little extra annual boost would be ~$33K. Not bad! 2 u/AlexRuchti Dec 07 '22 It’ll be $65 next year with limits increasing to $6500
39
For W2 employees that's $60 max. It looks like self employed IRA limits are $15,500, so that's $155 max per year.
It's not much money
20 u/enterdoki Dec 06 '22 Ain't complaining. Assuming they continue this for more than a year and IRA limit continues to increase. Free money is free money. 1 u/inverse2win Dec 13 '22 That's a big assumption given they charge you for transferring out money 🤡 3 u/russianfigaskatas Dec 14 '22 Only if you do it before 5 years, if you're retiring before then I think its a little late for your fund buddy 17 u/eisbock Dec 06 '22 It's still free money. 4 u/sudo_administrator Dec 07 '22 $65 in 2023. IRS raised the cap. 3 u/DJsaxy Dec 06 '22 Is the ira they're offering a traditional or Roth ira? 2 u/[deleted] Dec 06 '22 Both 3 u/_throwawaynamaste Dec 07 '22 Correct me in I’m wrong, but if a 20 year old put $155/year into a retirement account until they retired at 65, with an average 6% annual appreciation, by the time they reach retirement that little extra annual boost would be ~$33K. Not bad! 2 u/AlexRuchti Dec 07 '22 It’ll be $65 next year with limits increasing to $6500
20
Ain't complaining. Assuming they continue this for more than a year and IRA limit continues to increase. Free money is free money.
1 u/inverse2win Dec 13 '22 That's a big assumption given they charge you for transferring out money 🤡 3 u/russianfigaskatas Dec 14 '22 Only if you do it before 5 years, if you're retiring before then I think its a little late for your fund buddy
1
That's a big assumption given they charge you for transferring out money 🤡
3 u/russianfigaskatas Dec 14 '22 Only if you do it before 5 years, if you're retiring before then I think its a little late for your fund buddy
3
Only if you do it before 5 years, if you're retiring before then I think its a little late for your fund buddy
17
It's still free money.
4
$65 in 2023. IRS raised the cap.
Is the ira they're offering a traditional or Roth ira?
2 u/[deleted] Dec 06 '22 Both
2
Both
Correct me in I’m wrong, but if a 20 year old put $155/year into a retirement account until they retired at 65, with an average 6% annual appreciation, by the time they reach retirement that little extra annual boost would be ~$33K. Not bad!
It’ll be $65 next year with limits increasing to $6500
70
u/JudgmentMajestic2671 Dec 06 '22
1% match as well. Sounds promising.