Tech Industry
Yesterday
1812
Net worth crossed 2.5 M today
2024 Presidential Election
Yesterday
785
Will Trump kill the H-1B program?
Tech Industry
Yesterday
2063
How to handle unwanted male attention at work
Personal Finance
Yesterday
1624
Asking girlfriend of 5months to split bills went BAD
Personal Finance
Yesterday
2877
Wife made 55k last month on OF. Should I quit and pursue OF?
With a mass exodus already happening, there is a high chance of robinhood liquidating/possibly going bankrupt. Even if this possibility is very slim, your money is only insured up to 500k which I don't think will even be met without waiting many years. My advice would be to remove all your money asap in the short term so you don't catch a loss. They already had to raise 1B+ recently. This isn't stopping soon. You cannot stop the internet. This especially goes to anyone having 500k+. Don't be stupid, stupid. There's also many investors looking to get into the space to compete with Robinhood. It's only a matter of time until we have a better competitor. People don't forget when they lose money. Fidelity is a great option from what I heard. I will be moving to them most likely but don't listen to me! Do your DD! I lost thousands due to a bitcoin exchange going under and never got my money. I will not make the same mistake. #investments #personalfinance #robinhood
How to transfer your stocks?
+1 How do I transfer my stock from RH to Fidelity. Dont want to sell now and incur taxes
Surprised to hear anyone has a Robinhood account with $500K+ in assets. Always thought Robinhood was for kids buying stocks with their allowance.
IMO It is less likely they will go bankrupt.
They just raised 1B ?
Yep - "Emergency raise"
You are insured up to 250k cash, totally 500k. Not a good idea to wait for insurance to kick in though, given significant opportunity cost
Already moving out. Fidelity is my preferred broker. No referral bonus but $0 trades and good tools :)
It’s taking forever for my positions to move to fidelity. How long did it take anyone to transfer?
RH to Fidelity transfer takes upto 10 Business days.
Isn’t a stock held in your name by a register (depository?) somewhere. So it doesn’t matter if the broker goes down. Any cash is separately insured.
Dm for referral to Schwab. They have promotion for up $500 depending on the balance you bring over
DM for TD Ameritrade. They have promotion for up $1000 lol.
I’m also happy to refer to TD :) been using them since 2006