alex asked in Business & FinanceInvesting · 1 year ago

Should I invest in robinhood?

So I am a college senior with 5k in savings. I am currently debt free and plan on going to medical school. I was considering investing 500 dollars on robinhood. What do you guys think?

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  • Steve
    Lv 6
    1 year ago

    You will need many multiples more of that $500 if you are going to med school. Use your excess money for bills and food. Do not invest any money until you are a practicing doctor. That is, of course, if you come from a wealthy family that is paying for your tuition.

  • Anonymous
    1 year ago

    Other brokers are now going fee free. Although if investing long term a $6 fee isnt going to matter.

  • 1 year ago

    Not anymore, I have a little play account with them, but my TDAmeritrade and Schwab accounts have far better services and now are zero commission as well.

  • Jeff T
    Lv 6
    1 year ago

    You're going to need that money for med school. Don't risk it on an investment.

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  • 1 year ago

    Do you men "Invest in Robinhood" or "invest with Robinhood"...

    With over sixty years experience investing/trading, there's no way I would invest "IN" Robinhood and there's no way I would invest with Robinhood.

    There are so many more reputable firms one can use and who have a lot more offer their clients.

    To “get into the market” you must know what you’re doing, why you’re doing it, how to do it, AND have an understand some of the rules & regulations that govern what you’re trying to do.

    Based on the wording of your question, you’re not ready to do anything with stocks.

    Before you invest in any security, the first investment you should make is in yourself, and the best investment you can make is by educating yourself.

    Begin your education by learning why you should invest and the importance of being able to make your own decisions or how the pro’s make theirs. Start your education by reading “Investing for Dummies” by Eric Tyson.

    Here’s some other reading materials you MUST consider

    Beating the Street by Peter Lynch

    How to Make Money in Stocks” by William O’Neil

    24 Essential Lessons for Investment Success by William O’Neil

    The Intelligent Investor, by Benjamin Graham

    The Little Book Common Sense Investing – John Bogle

    Common Stocks, Uncommon Profits, by Philip A. Fisher

    One Up on Wall Street by Peter Lynch

    What Works on Wall Street by James O'Shaunessey

    Websites that can provide instructions and help with procedures and terminology are Investopedia - http://www.investopedia.com/ http://www.investorshub.com/

    Or Smart Money - http://www.smartmoney.com/

    Visit some of the more professional websites like Zacks Research - http://www.zacks.com/ Schaeffer’s http://www.schaeffersresearch.com/ Investors Business Daily - http://www.investors.com/default.htm?fromad=1

    Some of these web sites will have advertisers who are worth looking into also. And remember, if they offer free information, get it.

    Since your only investing $500, you could invest almost anywhere but if it were me, I would use a real professional reputable brokerage firm.

    Good luck

    Source(s): from The Street
  • Eva
    Lv 5
    1 year ago

    Doesn't much matter since you won't make much on such a small investment. You'd have to hold something for years and hope the stock price went way up.

  • 1 year ago

    i think you should do it if thats what you want to do

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