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re: My experience with transferring an IRA to Robinhood for the 3% match
Posted on 5/2/24 at 9:17 am to LoneStar23
Posted on 5/2/24 at 9:17 am to LoneStar23
How does this work with max contributions?
1
Posted on 5/2/24 at 9:20 am to TigerDeBaiter
quote:
How does this work with max contributions?
The matches do not count towards the max contribution, similar to 401k.
So you can still contribute the full $7k in the IRA for this year and they will match 3% of that for an additional $210. So really you end up with $7,210 in your IRA this year before any market changes.
Edit - this is assuming you have Gold with them, which does cost $50/yr or $5/mo. So even then it more than pays for itself if you max an IRA out.
This post was edited on 5/2/24 at 9:22 am
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