Month: February 2018

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Jay-Z Invests in Robinhood

Jay-Z’s company Arrive is making money moves. Arrive

recently announced that it would be investing in Robinhood, a stock trading app.

 

 

Arrive, announced in early February 2018 that it is investing in the App trading platform Robinhood. Robinhood offers commission-free trading of U.S. stocks, ETFs/options. They also announced it would soon be offering free cryptocurrency trading as well.  The trading platform allows users to invest in popular cryptocurrencies like Bitcoin and Etherium.

 

Robinhood, Champion of Equitable Financial Access

 

“We believe in Baiju and Vlad’s mission to make the financial markets more accessible and cost-efficient for customers of all sizes,” Arrive President Neil Sirni said. “Robinhood will have our support as they execute the long-term vision of their company.”

Over 80 percent of users are millennials and it is currently the fastest-growing brokerage. And guess what else?? Jay-Z is not the first artist in his field to back Robinhood —  the company also has rappers Snoop Dog and Nas. The invested in the fall of 2014.

 

Arrive President Neil Sirni said that their goal was to make trading easy for anyone through a mobile app and to eliminate the $7 to $10 trade fees charged by most brokerages. This is one to definitely to download if you haven’t already. DOWNLOAD NOW.

 

i have also added Robinhood to my arsenal. If you want to join Robinhood click here and you can get a free stock!

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High CD Rates – What You Need To Know

A CD or certificate of deposit, is a low risk, fairly high return investment. You agree to deposit a set amount of money for a set amount of time and in return your bank will pay you a set amount of interest (sometimes the interest rate will be flexible but often it’s a set rate). CD’s are covered under the FDIC insurance or NCUA for a credit union.

This method of investing is far more secure than the stock market, and you will make more money than you would with a standard savings account but it does have it’s downsides.

Here are a few things to keep in mind while deciding if investing in CD’s is right for you:

1) You can go to various websites like bankrate.com to compare interest rates. Just remember interest rates are only one of the things you should take into account when considering opening a CD.

2) The terms can be a few months to 15 -20 years, generally the longer the term the higher the interest rate. If you start early and you are investing for college or retirement this may not be a bad way to go.

3) You will incur substantial penalties if you withdraw your money early. You will lose some, or maybe even all, of your interest. The bank is paying you a higher interest rate so they have a guarantee that the money will be available for a set time. That’s why they will hit you with a big penalty if you close your account early.

It’s very important that you fully understand the penalty amounts and when they will be accessed. Different banks will have different penalty amounts, compare them before you choose a particular bank.

4) You need large deposits usually between $500- $1,000 to open a CD. If you are just starting out you may not have enough money to deposit. You can open a CD at your local bank or credit union, online banks, or with a brokerage house.

Taking control of your finances now can lead to a much more secure, and less stressful, future. Finding high cd rates and opening an account is a great way for you to prepare for your future, but just like with any investment option CD’s are not for everyone. Make sure you know all the facts before you hand over your money.