during the pandemic, has a new proposition: Open an Individual Retirement Account with the service and it will match 1% of the funds customers contribute.
gig workers," contractors and part-time employees who are most likely to lack a company-sponsored retirement program, Steph Guild, Robinhood's head of investment strategy, told CBS MoneyWatch. "The way we are working and living is changing," with Americans more likely to be gig workers or to hold several jobs at the same time, Guild said."That means there is a growing disconnect with the way savings are set up with the way people live and work.
"There is interesting data on 401 matches that shows if a company offers a match, the rate of savings and participation goes way, way up, but there isn't a correlation between the percentage match offered and the percentage of participation," noted Sam Nordstrom, lead product manager for Robinhood Retirement.
Roth IRAs invest after-tax dollars, but investors can then withdraw the money on a tax-free basis in retirement — a strategy that is often recommended for younger investors since their tax rate may be lower earlier in their career while their earnings are lower.
Robinhood? No way!
AT least tell the whole story CBS. The crime syndicate Robinhood wants that money to stay at Robinhood for 5 years. No thanks. Just another Ponzi scheme
Yeah no thanks ! We haven't forgot how they took the buy button away and screwed everyone over
Yeah no thanks ! We haven't forgot how they took the buy button away and screwed everyone over