Investment platforms

Investing
#1

Hi everyone,

I’m new here and quite new to investing. After reaching the $6000 limit on Roth IRA, where and how else do you guys invest if you want to invest more in S&P 500s and other stocks? I use Vanguard for my Roth IRA and Robinhood for individual stocks but not sure if there’s a better and more organized way of investing.

Thank you!

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#2

Hi Liz!
Check out this article for other accounts you can invest in: The Ultimate Investing Checklist – Personal Finance Club
Assuming you don’t have an HSA, I would work on maxing out my 401k next.
However, if that is not available to you or you’d like more flexibility with your investments, you can:

  • Open a taxable brokerage account in your existing Vanguard account and invest in index funds/ETFs/individual stocks there
  • Buy an S&P 500 ETF in your Robinhood account

If you want to consolidate your accounts, you can do an ‘in kind’ transfer. That means you would move all of your Robinhood assets to Vanguard, keeping the same investments, without incurring a taxable event. There would just be a fee of $75.
Hope that helps!

4 Likes
#3

Thank you, Vivi! Super helpful.