I’m a new grad starting to invest. Everyone my age is using Robinhood. Wanted to know what brokerage i should use- Fidelity? Or should I just go ahead with Robinhood ? What are the disadvantages of both? #personalfinance #investments
I love Fidelity! They are incredible and not the $hit show that is RH.
Don’t use Robinhood Thank me later first invest in S&P
The nu-fangled fintech kiddos might be good at some things, but do have their set of issues including downright erroneous pricing, money getting stolen, bad record keeping, poor engineering, poor customer service etc etc. I'm referring to both Coinbase, RH and the group. For long term serious investing, best to stick with Vanguard, Fidelity etc and at least initially IMMEDIATELY set up a regular investing plan and thus DCA into VTI, VOO etc with a ultra long term horizon (think 30-40-to even 50 years). Starting small is fine (what you can afford to shove in, stretch to your max). Within 5-10 years you will start seeing the fruits of your labor, aggressive investing, compounding effects. Ratchet up your regular contribs as your pay increases. The initial years are actually critical, and doing it more aggressively on the front end of your life definitely is better than later in life. Compounding effects is the killer. Don't miss out on it.
RH does not provide you with analyst research ... I use E*TRADE and RH. I like E*TRADE better for same day fund available to invest, while RH takes 3-4 days and for the analyst research
Schwab’s app is great, I think they are no-fee as well.
I use Schwab.
Schwab
You can use Rh. There’s just a lot of haters. Use whatever you like best
Look man I can’t be leaking information to rh/shitadel. They might steal my genius plan to buy 200 worthless penny stocks
Why no Vanguard?
Go with fidelity , Schwab, they are well run and proven platforms