Yeah, you could. You'd be well over the SIPC limit if that matters to you.I just looked up the Robin Hood bonus info and it sounds too good to be true. So if I hypothetically have about $2.5M in an IRA, and my wife also hypothetically has $2.5M in an IRA, we could each sign up for Gold and maintain it for a year and we'd each get a 3% bonus so $75K? $150K total? And I just have to leave the funds there for 5 years? What am I missing?Webull bonus is taxable. RH bonus is not taxable. RH also pays instantly. For me, RH nets more4.5% seems crazy! So since it requires a referral you can sign up for self-directed IRA & brokerage account, refer spouse/friend/etc, ACAT in from other IRA, have spouse/friend/etc ACAT in, and you both get 4.5% with a holding period of 5 years, paid out 1/5 at end of each year?
Anything I'm getting incorrect? This definitely beats others since you don't have to deal with transferring to multiple brokerages every year or even more often
Good point, although I guess I'm over the SIPC limit with Fidelity now. Looks like RH has a $1B supplemental, and any cash in the sweeps account is split between banks to cover up to $2.25M cash.
Statistics: Posted by LakesandRivers — Thu Feb 29, 2024 4:55 pm — Replies 7643 — Views 1219872