Robinhood brokerage app has some strong Retirement account promos for the New 12 months. There are a lot fewer brokerage promos that embrace each IRA rollovers and 401k rollovers. These may be very profitable with a big retirement stability, particularly as they’re uncapped. Robinhood continues to aggressively accumulate belongings. Have in mind the 5-year minimal maintain and 1-year minimal Gold subscription at $5/month.
- 3% bonus on IRA contributions with a Robinhood Gold subscription. You’ll be able to nonetheless make your 2024 contribution till April fifteenth, and in addition your 2025 contribution. Topic to the same old IRA annual most contribution limits. 5-year minimal maintain interval.
- 2% on IRA and 401(okay) transfers to your Robinhood IRA with a Robinhood Gold subscription. 5-year minimal maintain interval.
3% IRA Match Tremendous Print:
The three% matching on contributions requires a subscription with Robinhood Gold ($5/mo) and clients should keep subscribed to Gold for 1 12 months after your first Gold match to maintain the complete Gold match. The funds that earned the match should be stored within the account for at the very least 5 years to keep away from a possible Early IRA Match Removing Price. Match fee topic to alter. Non-Gold clients obtain a 1% match. For extra data discuss with the IRA Match FAQ.
$420 match accessible to Robinhood Gold clients making the utmost 2024 IRA contribution by the IRS tax deadline, and the utmost 2025 IRA contribution. Robinhood doesn’t present tax recommendation; seek the advice of a tax adviser.
IRS contribution restrict for 2024 and 2025 is $7,000 ($8,000 for those who’re age 50 or older) yearly. Go to the IRS website for extra data. The annual tax submitting deadline usually is April fifteenth however might differ by 12 months or particular person taxpayer circumstances. All IRA contributions rely towards your annual restrict.
2% Switch Enhance Tremendous Print:
The two% matching on transfers requires a subscription with Robinhood Gold ($5/mo) and clients should keep subscribed to Gold for 1 12 months after receiving the primary Gold match to maintain the complete Gold match. The funds that earned the match should be stored within the account for at the very least 5 years to keep away from a possible Early IRA Match Removing Price. Match fee topic to alter. Non-Gold clients obtain a 1% match. For extra data discuss with IRA Match 2025 FAQ.
When you contributed $7,000 for 2024, $7,000 for 2025, and roll over $100,000 in IRA/401k balances, that may add as much as $2,420.
Robinhood can even reimburse as much as $75 in outgoing switch charges with transfers of $7,500 or extra. It is a one-time reimbursement per account kind, per exterior brokerage. It’s essential to ship in an image as proof of the charge.
I’ve already written a number of articles about previous flavors of those Robinhood promos, and I participated within the 3% IRA bonus beforehand. You’ll need to open up the suitable IRA account at Robinhood first, after which switch into that vacant IRA container. You’ll be able to try to offset a few of the $5/month Robinhood Gold charge through the use of the free $1,000 in margin, otherwise you may like the upper rate of interest they pay on money sweep with Gold.
