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Robinhood requires a $5/mth subscription for that rate, otherwise 1.5%.
by reducesuffering 4y ago
Robinhood requires a $5/mth subscription for that rate, otherwise 1.5%.
- senttoschool 4y agoYes, but the assumption is that the $5 is easily compensated by the extra interest.
- reducesuffering 4y agoIt was in comparison to Apple's 4.15% and Wealthfront's 4.3%. So that's .1 - .25%. And I think most would argue that, at max, you should have a year's bills in cash. So that's like $30k - $80k. Assuming standard marginal income tax rate of 30%, that extra interest is $30 - $400, so $21 to $280, and Robinhood's $60/yr loss, so -$39 to $220. Maybe kind of worth it at the high end, but I guess I should also then mention that 4mo T-bills pay 5.17%.