Curious About Robinhood Stock Investing? Here’s How It Works
Launched in 2013, Robinhood stock investing is an investment app geared to beginners or everyday traders, offering commission-free trades and stock investing.
The key to building wealth isn’t a big paycheck. It’s not a hefty savings account or just paying off debt.
Investing is where you can actually create legitimate wealth, but not enough people are dedicated to the approach.
According to Liberated Stock Trader, just 22% of Millennials own investment accounts, followed by 29% of Gen X and 39% of Baby Boomers. The Silent Generation? Not much better at 53%
One option that’s appealing to young people but beneficial for all: Robinhood stock investing. It’s an app that has quickly become a popular alternative to more traditional investment techniques.
Let’s take a closer look at Robinhood, how it works and how it can work for you. And if investment worries you because you prefer having cash for emergencies, we also cover how title loans online can benefit you.
What Is Robinhood Stock Investing?
Since the COVID-19 pandemic, Robinhood stock investing has grown along with an investment boom and cryptocurrency surge.
Most Robinhood stock investing users are young; 78% are younger than 35, according to Fast Company. It has rapidly proven popular, already boasting more than 13 million users.
Robinhood stock trading is unique in that its trading platform is commission-free.
Users are able to invest in nontraditional items, such as Dogecoin, a type of cryptocurrency. They can also invest in exchange-traded funds, or ETFs, which can be bought and sold throughout the stock exchange day, as opposed to mutual funds that are only traded at the end of the day’s price.
Robinhood promotes itself by reiterating that users can build unique portfolios, trade stocks, and trade options, while always remaining commission-free.
Who Uses Robinhood Stock Investing?
Most of Robinhood’s users are primarily newbies to investing who feel comfortable with Robinhood’s bright, vibrant interface and notifications – and the fact that it’s all done on a mobile app.
Robinhood basically lets anyone with money in a bank account try their hand at investing by buying and selling stock.
To open an account, you need to be at least 18 years old, have an address in the United States, and have a social security number.
The platform is also particularly popular with those who want to trade cryptocurrency.
How Does Robinhood Stock Investing Work?
All you have to do is sign up, prove your age, and start investing.
It’s free to open a trading account. And stock trading and options trades are free of commissions.
There are no annual account fees, inactivity fees, or ACH transfer fees. And ETFs are also traded commission-free.
Robinhood’s tradable securities include options, fractional shares, American depository receipts for companies worldwide, and the aforementioned ETFs and cryptocurrency.
Robinhood is one of just a few brokers who eliminate the per-contract fee that’s common among similar companies.
The only slightly big fee with Robinhood is its outgoing account transfer fee, which is $75 a pop — typical for brokers.
What Are The Features Of Robinhood Stock Investing?
Among other products, one of Robinhood stock investing’s newest features is fractional shares.
With fractional shares, investors pay as little as just $1 for share portions, even for expensive shares that have prices well into multi-hundreds of dollars.
Robinhood says this feature helps its users, even those who can’t normally afford to invest in certain companies, to build portfolios that are diverse.
Another big highlight on Robinhood: recurring investments. Users select a schedule for investment, including timeframes (weekly, biweekly, monthly) and the amount to invest. Robinhood then does the work for you, automatically investing according to your orders. You can even make recurring fractional investments.
What If I Have Been Wanting To Invest But Worry About Emergencies?
Investing with Robinhood may be easy, but many younger people worry about having their money locked in investments when an emergency hits, leaving them with little cash to deal with urgent situations.
This is when getting a Tennessee title loan online with Tennessee Title Loan, Inc. can be an option to consider. Getting a title loan online provides you with cash when you have an urgent need for it.
What Is A Title Loan Online?
Title loans are secured loans, meaning you get a sum of money in the form of a loan, with your title put up as collateral. Once the loan is finished, you are again in possession of your car title. The best part: you get to keep your car for the entire length of the loan.
At Tennessee Title Loans, Inc. you can receive between $300 to $2,500 when you qualify for a title loan. And you can do start the process from the comfort of your home.
Benefits Of Getting A Title Loan Online
- It’s fast and easy to obtain.
- Loans can be used in times of emergency, for example, unexpected medical bills or home repairs.
- Good, bad, or nonexistent — all forms of credit are considered.
- All you need is the following: A lien-free title, a valid photo identification, and your car.
How To Get A Title Loan Online At Tennessee Title Loans, Inc.
- Go to Tennessee Title Loans, Inc. and fill out the short application.
- Keep your phone close to you. A loan representative will call you right away to discuss your loan.
- Either visit one of Tennessee Title Loans, Inc.’s many locations or choose a place for the representative to come to you. Wherever you chose, your car will go through a quick inspection (usually 30 minutes or less) to determine your loan amount.
- If approved, you can sign the paperwork and drive off with the loan you acquired.
Submit Your Title Loan Online Form Today
Robinhood stock investing can be one of the best ways to grow your wealth, but if you find yourself in a tight spot and you need cash quickly, consider getting a title loan online from Tennessee Title Loans, Inc.
Submit your online form today to find out if you qualify.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.