Search found 1627 matches

by nps
Sat Mar 16, 2024 11:21 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

Confirming today, a day after the transfer of $2k was requested and invested into SGOV, I can (but didn’t) place an order for SGOV for $1k, which was my margin limit that I set. I guess I was too anxious in the first day of the transfer. Glad it worked out! So your entire taxable account now has $2k invested in SGOV, and you plan to invest an additional $1k on margin? I wonder if you will get a margin call when SGOV goes ex-dividend. If you let it ride like that please let us know how it turns out. Read up on the difference between initial margin and maintenance margin to see why your concern is not justified. And the margin call bogeyman is not that bad, even if it happens. There is a great deal of confusion among Bogleheads about margin....
by nps
Fri Mar 08, 2024 1:13 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

... As you can see, I've exhausted way too much effort on how I can reduce my personal responsibility for a $5/month charge. I also don't like that I can't get 5% APY on cash and use margin at the same time, but I understand why. Basically, I have 3 choices: ... What would any of you recommend? Yes, you're significantly overthinking this. But that's ok, I definitely did. Here's what I did: -bought $2k, turned on margin, bought another $990 on margin, total $2990 -$5/mo gold fee will ding my margin for $5 (margin bal $995), then $5 more (margin bal $1000) -will transfer in $5 every month, or $10 every 2 months, depending how lazy I am, to bring margin bal back to $990 This is good if you have other taxable positions. Otherwise probably want...
by nps
Thu Mar 07, 2024 9:23 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

Does anyone know when RH will credit dividends to the brokerage account? I can see $8 of dividends pending from SGOV last month but don’t see it available in my balance. I’m the one who bought $2k of SGOV and then another $1k of SGOV on margin. I’m thinking that when the $8 goes in, I’ll have used $992 of margin and then when RH takes out the $5 for Gold, it’ll will take me back to using $997. Do I have this correct? Separate question. When you’re looking at your brokerage account, should the balance be the total of your funds PLUS the margin investments? Or should I only be seeing $2k? Today was the payment date so it should have credited today. Unless you have it reinvesting it should reduce your use of margin, and the $5 fee will increa...
by nps
Sun Mar 03, 2024 9:57 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

So I placed the trade on March 1 to use the margin as SGOV went ex-div. My balance fell about $.55 below $2k due to the free stock, otherwise it would be $6+ less than $2k. Now the app is stating, “You have a brokerage account deficit of $1k”. Is this only because I’m under $2k and when the dividends from SGOV comes in on Thursday the message will go away? This is the first time I’m using margin in any brokerage account purposefully. Also, should it show that you have $3000 of total brokerage account value (rounding numbers) or will it just say my brokerage account value is the amount of the fully paid securities, ie $1,999.45? It currently shows this but I can also see I have 29.x shares of SGOV. Yes it's because you're under $2k. You wer...
by nps
Sun Mar 03, 2024 10:26 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

Glad it worked out! So your entire taxable account now has $2k invested in SGOV, and you plan to invest an additional $1k on margin? I wonder if you will get a margin call when SGOV goes ex-dividend. If you let it ride like that please let us know how it turns out. So I placed the trade on March 1 to use the margin as SGOV went ex-div. My balance fell about $.55 below $2k due to the free stock, otherwise it would be $6+ less than $2k. Now the app is stating, “You have a brokerage account deficit of $1k”. Is this only because I’m under $2k and when the dividends from SGOV comes in on Thursday the message will go away? This is the first time I’m using margin in any brokerage account purposefully. Also, should it show that you have $3000 of t...
by nps
Sat Mar 02, 2024 12:20 pm
Forum: Investing - Theory, News & General
Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
Replies: 6651
Views: 1202893

Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Weathering wrote: Sat Mar 02, 2024 11:24 am Does “early withdrawal penalty” tax deduction apply to I-bonds if they are sold with the 3 month interest penalty?
No, because the reported interest is already net of penalty
by nps
Sat Mar 02, 2024 12:16 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Announces CEO Retirement and Appointment of President
Replies: 371
Views: 34681

Re: Vanguard Announces CEO Retirement and Appointment of President

afan wrote: Sat Mar 02, 2024 12:00 pm And I was not even dreaming of saving a full basis point. That would be huge.
:shock:
afan wrote: Sat Mar 02, 2024 12:00 pmI was just hoping to increase returns on VTI by 0.1 basis points by reducing the office footprint for which Vanguard pays.
You'd save ten dollars per million invested
by nps
Sat Mar 02, 2024 7:09 am
Forum: Personal Investments
Topic: Help with TSP allocations
Replies: 8
Views: 630

Re: Help with TSP allocations

gotoparks wrote: Sat Mar 02, 2024 6:59 am He is heavily invested in bonds. Does he want to take on more risks? The way he is invested now is very conservative. You are suggesting 80/20 which is not conservative.
Actually OP is suggesting 100/0

I would look at L funds based on date of retirement as a starting point. OP, does your Dad have estimates for pension and SS income?
by nps
Sat Mar 02, 2024 5:26 am
Forum: Personal Investments
Topic: Consolidating ETFs/Index Funds without Tax Impact?
Replies: 3
Views: 720

Re: Consolidating ETFs/Index Funds without Tax Impact?

Vanguard conversion won't help at all for consolidating those funds. Unfortunately there is no way to accomplish what you'd like to do. It's a reminder that we all should be selecting taxable funds carefully
by nps
Sat Mar 02, 2024 5:04 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

grtwallchina75 wrote: Sat Mar 02, 2024 12:53 am
runr wrote: Fri Mar 01, 2024 11:39 pm Just an FYI for the future, RH will only allow rIRA conversion of cash.
Will allow back door roth ?

RH allows only 1 IRA which is pre-tax now, how will it support after-tax ira contribution for backdoor roth ?

mixing pre and post tax in 1 IRA could mess stuff up.
IRA is IRA. There is no such thing as a pre-tax IRA or post-tax IRA.

Form 8606, not your broker, tracks your basis in IRAs. It makes no distinction regarding pre-tax and post-tax in a single IRA account. It only considers them across all your IRAs combined, as if they were all a single IRA.
by nps
Thu Feb 29, 2024 6:13 pm
Forum: Personal Investments
Topic: Do dividend reinsvestments mess up TLH?
Replies: 15
Views: 1536

Re: Do dividend reinsvestments mess up TLH?

livesoft wrote: Thu Feb 29, 2024 5:56 pm
nps wrote: Thu Feb 29, 2024 5:42 pm Upcoming TLH event in VTI - does the OP even have a loss?
Don't know, but the shares bought most recently such as with the upcoming dividend might a few days later have a loss. :twisted:
Maybe... if the upcoming dividend wasn't 3+ weeks away...
by nps
Thu Feb 29, 2024 5:42 pm
Forum: Personal Investments
Topic: Do dividend reinsvestments mess up TLH?
Replies: 15
Views: 1536

Re: Do dividend reinsvestments mess up TLH?

bonesly wrote: Thu Feb 29, 2024 4:49 pm As Bleeding Love said, you should likely turn off automatic reinvestment of dividends in the IRA to execute this upcoming TLH event... if there have been no dividends in the last 30 days and none are expected for the next 30 days (I think VTI distributions are quarterly), then you can do the TLH now.
Upcoming TLH event in VTI - does the OP even have a loss?
by nps
Sun Feb 25, 2024 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Possible to automate ETF investing in HSA at Schwab?
Replies: 4
Views: 689

Re: Possible to automate ETF investing in HSA at Schwab?

You can automate biweeky investing in mutual funds, if you're ok with those
by nps
Sun Feb 25, 2024 2:59 pm
Forum: Investing - Theory, News & General
Topic: Berkshire Hathaway annual letter is out
Replies: 41
Views: 7210

Re: Berkshire Hathaway annual letter is out

corduroysuit wrote: Sun Feb 25, 2024 2:53 pm FWIW, Buffet is beating the market 2020-2024.
https://www.portfoliovisualizer.com/bac ... sisResults

I choose this specific period mainly because I bought BRK.B after the covid crash. Short dataset but I don’t think he’s losing his edge.
Also since 2010
by nps
Sun Feb 25, 2024 2:31 pm
Forum: Personal Investments
Topic: converting VTSAX to VTI inside of a traditional IRA at Vanguard
Replies: 43
Views: 5518

Re: converting VTSAX to VTI inside of a traditional IRA at Vanguard

ruralavalon wrote: Sun Feb 25, 2024 2:24 pm
critterdude311 wrote: Fri Feb 23, 2024 11:26 am I was wondering if anyone has converted/exchanged VTSAX to VTI inside of a Traditional or Roth IRA at Vanguard. There used to be a way to do this conversion process via the website, but I believe the option was removed a few years ago.

I know the conversion can be done in a plain old taxable brokerage account by calling Vanguard, but I'm curious if anyone has had this conversion done in a Traditional or Roth account.
Questions
No.

That would not serve any purpose in a tax-advantaged account. So why bother?
For one thing, it would allow one to transfer to Robinhood for a 3% bonus
by nps
Sun Feb 25, 2024 8:06 am
Forum: Personal Investments
Topic: converting VTSAX to VTI inside of a traditional IRA at Vanguard
Replies: 43
Views: 5518

Re: converting VTSAX to VTI inside of a traditional IRA at Vanguard

rkhusky wrote: Sun Feb 25, 2024 7:13 am
Living Free wrote: Sun Feb 25, 2024 7:09 am
crefwatch wrote: Sun Feb 25, 2024 7:07 am Loss Aversion:

https://en.m.wikipedia.org/wiki/Loss_aversion
Agreed
And it’s interesting how that even when you know you are being influenced by it, you still can’t overcome the effect.
If I offered you an even money bet with a biased coin (53.6 percent chance of heads), would you bet on tails?
by nps
Sat Feb 24, 2024 12:55 pm
Forum: Personal Investments
Topic: Trad vs Roth; how much does expense ratio matter; when is a high yield savings account the better choice? So many Qs!
Replies: 5
Views: 721

Re: Trad vs Roth; how much does expense ratio matter; when is a high yield savings account the better choice? So many Qs

1. I have a Roth IRA with TRowe Price, all in on a Target Date fund. About two months ago, I created a Trad IRA and diverted my automated savings into that new account, thinking that I should do that because of the "lower income bracket at retirement" business. I think, in retrospect, I misunderstood that. I'd just assumed that in retirement I would obviously, because retired, have lower income (please don't laugh!). New pieces I've read since seem to say that there's no way to predict for certain. Should I transfer that amount I put into this Trad into my existing Roth? (which, I understand, means I'll pay some taxes now on this $1800). Or was it a good idea to start a Trad after all, and if so, do I fund both halfsies or put al...
by nps
Sat Feb 24, 2024 9:58 am
Forum: Investing - Theory, News & General
Topic: Berkshire Hathaway annual letter is out
Replies: 41
Views: 7210

Re: Berkshire Hathaway annual letter is out

Thanks! Warren Buffett's letter had much praise for the several Japanese companies that Berkshire Hathaway targeted for increased investment in 2023. His shareholder letter from 2013 is often cited as an argument in favor of US-only investing.
by nps
Sat Feb 24, 2024 8:55 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

stilllurking wrote: Sat Feb 24, 2024 7:47 am Confirming today, a day after the transfer of $2k was requested and invested into SGOV, I can (but didn’t) place an order for SGOV for $1k, which was my margin limit that I set. I guess I was too anxious in the first day of the transfer.
Glad it worked out! So your entire taxable account now has $2k invested in SGOV, and you plan to invest an additional $1k on margin? I wonder if you will get a margin call when SGOV goes ex-dividend. If you let it ride like that please let us know how it turns out.
by nps
Sat Feb 24, 2024 5:03 am
Forum: Personal Investments
Topic: Taking advantage of the wash sale
Replies: 5
Views: 694

Re: Taking advantage of the wash sale

If you buy BND within 30 days of selling VBTLX for a loss then you have a wash sale, regardless of the source of funds you use for the purchase.
by nps
Fri Feb 23, 2024 11:46 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

SwiftKey wrote: Fri Feb 23, 2024 10:24 am
stilllurking wrote: Fri Feb 23, 2024 9:24 am Yes. It's in my Brokerage as that's where the $5 stock when too.

My Roth transfer is in process.
I’m out of ideas 🤷‍♂️
If waiting for market open didn't make a difference (it shouldn't), then probably need to open a chat
by nps
Fri Feb 23, 2024 6:54 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

stilllurking wrote: Fri Feb 23, 2024 6:39 am
SwiftKey wrote: Fri Feb 23, 2024 6:33 am You don’t have margin enabled. Go to your account profile, investing tab, and enable margin. There are disclosures to agree to.
I have confirmed that my brokerage account is margin enabled and have agreed to the disclosures.
What is your margin usage? Total margin, margin used, margin maintenance
by nps
Fri Feb 23, 2024 6:37 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

stilllurking wrote: Fri Feb 23, 2024 6:16 am
nps wrote: Fri Feb 23, 2024 6:10 am
stilllurking wrote: Fri Feb 23, 2024 5:38 am I tried putting an order for SGOV earlier for $3k as well as $2.9k and it said I didn’t have enough buying power. This is both when I have a borrowing limit as well as when the borrowing limit is off.

Do I need to do this during market hours only? Does the $2k need to settle first even though they state it is already in buying power?
The $2k should not need to clear first. What is it showing for your buying power?
It only shows the $2k that I requested to transfer a couple hours ago.
Are you sure you have margin investing enabled? That is different than having a margin account.

Edit: SwiftKey addressed the same thing
by nps
Fri Feb 23, 2024 6:10 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

stilllurking wrote: Fri Feb 23, 2024 5:38 am I tried putting an order for SGOV earlier for $3k as well as $2.9k and it said I didn’t have enough buying power. This is both when I have a borrowing limit as well as when the borrowing limit is off.

Do I need to do this during market hours only? Does the $2k need to settle first even though they state it is already in buying power?
The $2k should not need to clear first. What is it showing for your buying power?
by nps
Thu Feb 22, 2024 6:35 pm
Forum: Personal Investments
Topic: Question about IRA fund
Replies: 3
Views: 370

Re: Question about IRA fund

Put it into whatever will do best in the future
by nps
Wed Feb 21, 2024 7:06 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

StevieG72 wrote: Wed Feb 21, 2024 6:58 pm Also can use 1k of margin without paying interest.
Not in an IRA
by nps
Wed Feb 21, 2024 4:34 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: 3% IRA transfer bonus at Robinhood: Worth it?

nalor511 wrote: Wed Feb 21, 2024 12:05 am
grtwallchina75 wrote: Tue Feb 20, 2024 11:14 pm this is concerning. I am unable to add my kids as beneficiary, system says they are minor but i wanted to add them as contingent in event my wife and I both pass away at same time, any workaround ? in that case, will my estate plan etc will kick on ?
Leave it to a trust. RH only supports primary ben.
Robinhood doesn't allow you to name a trust
by nps
Tue Feb 20, 2024 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Best Accounts to Make Withdrawal for Cash
Replies: 12
Views: 1237

Re: Best Accounts to Make Withdrawal for Cash

Do your kids go to private school?
by nps
Tue Feb 20, 2024 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Taxable status for Vanguard cash funds (VUSXX VMSXX VYFXX VMFXX)
Replies: 51
Views: 6699

Re: Did I mess up my taxes? Where do you adjust VMFXX for State tax = 70% taxable ??

mangoheadgolf wrote: Tue Feb 20, 2024 5:19 pm
nps wrote: Tue Feb 20, 2024 5:02 pm
mangoheadgolf wrote: Tue Feb 20, 2024 4:13 pm VMFXX
Fed taxable = Yes.
State tax = 70% taxable.
That's incorrect. Where are you getting that percentage?
I read that here on Bogleheads.
I read that VMFXX is partially state-tax exempt.
Is that accurate?
Vanguard publishes the percentages every year. They can change from year to year. Here is 2023

https://investor.vanguard.com/content/d ... n-2024.pdf
by nps
Tue Feb 20, 2024 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: Taxable status for Vanguard cash funds (VUSXX VMSXX VYFXX VMFXX)
Replies: 51
Views: 6699

Re: Did I mess up my taxes? Where do you adjust VMFXX for State tax = 70% taxable ??

mangoheadgolf wrote: Tue Feb 20, 2024 4:13 pm VMFXX
Fed taxable = Yes.
State tax = 70% taxable.
That's incorrect. Where are you getting that percentage?
by nps
Mon Feb 19, 2024 7:53 pm
Forum: Personal Investments
Topic: Ibonds - 0% Fixed rate Vintage - dispose or hold?
Replies: 16
Views: 1998

Re: Ibonds - 0% Fixed rate Vintage - dispose or hold?

You can't do a gift box for yourself
by nps
Mon Feb 19, 2024 7:48 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

Seems like the common wisdom here is to take the 3% bonus and then stop paying for Gold after a year. (Then leave funds at RH for 4 more years) I'm thinking the 3% match for future years is worth maintaining gold membership — I can make at least an $8K Roth contribution each year and get $240/yr bonus, but of course I have to pay $60/yr for gold, so net $180 in my pocket. Not earth-shattering, but I'll take it. Are the rest of you just thinking you want to exit from RH asap, and plan to make future Roth contributions elsewhere? Or perhaps a lot of folks are done making Roth contributions altogether. I can’t make direct Roth contributions, and I think I lose the IRA match if I try to do a backdoor Roth at Robinhood. So, this year, I’ll do a...
by nps
Mon Feb 19, 2024 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Employer HSA contributions not included in W2
Replies: 13
Views: 1135

Re: Employer HSA contributions not included in W2

joneeboy3000 wrote: Mon Feb 19, 2024 3:17 pm
nps wrote: Mon Feb 19, 2024 3:05 pm I would not mess around with trying to get a corrected W-2. Just report the numbers you have. The impact on your tax owed is zero.
Why not? Can't work payroll just re-issue my W-2 with the correct numbers?

"The impact on your tax owed is zero."

Is this true...? I thought HSA reduced my taxable income by lowering AGI.
Their contribution is already excluded from your income. It can't be additionally deducted. A corrected W-2 won't change that.
by nps
Mon Feb 19, 2024 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Employer HSA contributions not included in W2
Replies: 13
Views: 1135

Re: Employer HSA contributions not included in W2

I would not mess around with trying to get a corrected W-2. Just report the numbers you have. The impact on your tax owed is zero.
by nps
Mon Feb 19, 2024 2:11 pm
Forum: Personal Investments
Topic: Transferring IRA from TDAmeritrade to Vanguard?
Replies: 7
Views: 538

Re: Transferring IRA from TDAmeritrade to Vanguard?

livesoft wrote: Mon Feb 19, 2024 1:22 pm
lakpr wrote: Mon Feb 19, 2024 9:57 amWhy not Robinhood? You will get 3% of the amount being transferred in bonus ... Vanguard never offers bonuses.
That 3% bonus is a joke because of the restrictions. Does anyone seriously think 3% is worth it to move money to a toy brokerage?
The restriction that you can't remove the IRA funds for five years? Many people don't care about that, especially those who are not close to retirement age.
by nps
Mon Feb 19, 2024 6:22 am
Forum: Personal Finance (Not Investing)
Topic: Ebay sellers selling TurboTax Deluxe 2023
Replies: 8
Views: 1335

Re: Ebay sellers selling TurboTax Deluxe 2023

Costco is selling at the same price as Amazon, but with a $10 credit that you can apply to state e-file fees
by nps
Sat Feb 17, 2024 1:13 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

No, although it will draw from margin, if you have extra margin available. If that causes your margin to exceed $1,000, you'll start paying 8% interest on that excess amount. A couple options: Buy slightly less than $3,000 SGOV to leave enough free margin to cover the payments for a year Don't re-invest SGOV dividends, which should spit off enough to cover the payments (at current interest rates) Let your margin use rise above $1,000 and pay 8% of the amount you are over Sell a bit of SGOV each month to cover payment Transfer the payment value in from your bank each month The most important thing IMO is to not try to nickel-and-dime the Gold fees, as messing that up will cause you to lose all matching contributions, which should be signifi...
by nps
Sat Feb 17, 2024 12:15 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Cash Plus Account
Replies: 457
Views: 61797

Re: Vanguard Cash Plus Account

stan1 wrote: Sat Feb 17, 2024 11:20 am
Randomuser7 wrote: Sat Feb 17, 2024 10:16 am Vanguard in my opinion should not have released this out of the beta with major payees that would not accept the routing numbers.
The payees include the US Treasury, Xfinity, and Bank of America. All known for bureaucracy and none recognized as pillars of customer service. None come as a surprise to me for being on a list of billers who do things their own way. I would not have wanted Vanguard to wait for them to come around. Innovation can't wait for the slowest adopters.
I don't see the innovation in what Vanguard is doing. They are just catching up to where CMAs are, with a more attractive sweep rate but inferior cash access options
by nps
Sat Feb 17, 2024 12:01 pm
Forum: Personal Investments
Topic: TSP Funds and Wash Sales
Replies: 10
Views: 795

Re: TSP Funds and Wash Sales

sunrider6 wrote: Sat Feb 17, 2024 11:51 am @Navillus1968
Thanks much.
I edited the original post to correct several typos including the fund ticker. Thanks!

Newbie follow-on question - is there an easy consolidated list of which fund tracks which index? The TLH wiki lists a some pairs that I assume are similar asset class but slightly different index, but I've also read that some funds will change the index they track (for example the TSP I fund recenlty shifted indexes).
https://www.bogleheads.org/wiki/Thrift_ ... o_tracking
by nps
Sat Feb 17, 2024 11:41 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

Why is the 13th month necessary? If you're required to maintain gold "for at least one continuous year after the customer’s first eligible IRA deposit was initiated and completed ," then I calculate that as 13 months of Gold. For example in the following scenario, you wouldn't have maintained Gold for 1 year after the IRA deposit was completed. 2/17/2023: Sign up for Gold 2/17/2023: Initiate ACATS 2/19/2023: ACATS complete 2/17/2024: 12th month of Gold expires Gold billing cycles are 30 days. 12 x 30 = 360 days, which is not a year. So there is no way to avoid 13 payments if you want to keep the bonus. Good to know! but since the first month is free, there should only be 12 payments, right? Sorry yes, 13 periods and 12 payments
by nps
Sat Feb 17, 2024 11:26 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

plutoblackhole wrote: Sat Feb 17, 2024 11:22 am
tj wrote: Sat Feb 17, 2024 10:37 am Why is the 13th month necessary?
If you're required to maintain gold "for at least one continuous year after the customer’s first eligible IRA deposit was initiated and completed," then I calculate that as 13 months of Gold. For example in the following scenario, you wouldn't have maintained Gold for 1 year after the IRA deposit was completed.
  • 2/17/2023: Sign up for Gold
  • 2/17/2023: Initiate ACATS
  • 2/19/2023: ACATS complete
  • 2/17/2024: 12th month of Gold expires
Gold billing cycles are 30 days. 12 x 30 = 360 days, which is not a year. So there is no way to avoid 13 payments if you want to keep the bonus.
by nps
Thu Feb 15, 2024 8:32 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

You can trade immediately. You can't withdraw until settlement (t+2) Right, but only if you have limited margin turned on That's not true - I trade with unsettled funds all the time without margin of any sort turned on. Limited margin lets you buy A with unsettled funds, sell it before settlement and buy something else. You can always buy with unsettled funds if your broker lets you, you just need to hold your purchase of A until settlement so that you don't get a Freeride Violation With Robinhood? Their published information states otherwise "Limited Margin permits the purchase of securities with the use of unsettled funds. Specifically, you are permitted to sell a security, and before the trade settles, use the unsettled funds to pu...
by nps
Thu Feb 15, 2024 4:16 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

nalor511 wrote: Thu Feb 15, 2024 4:02 pm
corduroysuit wrote: Thu Feb 15, 2024 3:55 pm
EliteZags wrote: Thu Feb 15, 2024 3:20 pm since the 5% cash APY doesn't apply to IRA's, what's the consensus on what the put un-invested dollars into in the Roth, SGOV?
is it just one extra step that you'd have to sell a certain amount before using it to purchase equities, and do the funds clear immediately?
I've got mine in SGOV but am also wondering how long it will take for sold shares of SGOV to become cash available for trading. I did notice that RH allowed me to trade immediately on new contributions, even though it would take a few more days for the bank transfer to be cleared.
You can trade immediately. You can't withdraw until settlement (t+2)
Right, but only if you have limited margin turned on
by nps
Mon Feb 12, 2024 8:07 pm
Forum: Investing - Theory, News & General
Topic: Fidelity introducing automatic ETF investing
Replies: 158
Views: 27369

Re: Fidelity introducing automatic ETF investing

phoonzang wrote: Mon Feb 12, 2024 7:27 pm For what it's worth, Fidelity is still continuing to make improvements to their automatic EFT investing. They just posted this announcement today...

https://www.reddit.com/r/fidelityinvest ... requested/
What’s new?

On the Fidelity app, you’re now able to pick a start date as well as bundle multiple securities together when choosing a recurring investment.
Thanks! It looks like this can enable a one-time ETF purchase as well by fiddling with the settings. That's helpful for placing orders when the market is closed, even without a need for recurring investments.
by nps
Sun Feb 11, 2024 12:13 pm
Forum: Personal Consumer Issues
Topic: [Don't use Google Voice for two-factor authentication]
Replies: 81
Views: 6207

Re: [Don't use Google Voice for two-factor authentication]

RationalWalk wrote: Sun Feb 11, 2024 12:04 pm Not so hard to do a SIM swap, Princeton study says
Hmm maybe the lesson should be "use Google Voice for two-factor authentication"
by nps
Sun Feb 11, 2024 9:11 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110201

Re: Robinhood 3% IRA Match

tj wrote: Sun Feb 11, 2024 8:56 am
theplayer11 wrote: Sun Feb 11, 2024 1:38 am activate margin, deposit $2k and buy $3k sgov. It’s not a hassle. I assume you subscribed to Gold.
edit: deposit extra to cover year of Gold.
We don't know how Robinhood is going to handle paying the fee when you have margin. Wouldn't depositing extra just reduce your margin?
Yes
by nps
Sat Feb 10, 2024 1:51 pm
Forum: Personal Consumer Issues
Topic: [Don't use Google Voice for two-factor authentication]
Replies: 81
Views: 6207

Re: [Don't use Google Voice for two-factor authentication]

RationalWalk wrote: Fri Feb 09, 2024 10:42 am Since there are many recommendations on BH to use Google Voice for 2FA verification
Is there a better SMS option?

If not, I still think the post title is misleading. "Don't use SMS for 2FA" would be more accurate
by nps
Sat Feb 10, 2024 9:15 am
Forum: Personal Investments
Topic: Why didn't I receive the open market price?
Replies: 20
Views: 2268

Re: Why didn't I receive the open market price?

FriedOkra wrote: Sat Feb 10, 2024 6:04 am I tried to purchase a relatively small amount ($750) of VGIT as a market order after market close at Vanguard yesterday, and the listed spread for the order before confirmation was nearly 1.8% of share price. The average spread for VGIT when the market is open is 0.1%. So I didn’t place the order and will try again Monday when the market is open.

I’d read many times before that I shouldn’t place market ETF orders when the market is closed. This situation allowed me to see why in real terms.
It's a good lesson, but you would not have paid that spread even if you had completed the order.