Will Robinhood Start Offering Retirement Accounts?

7 Things That Are Getting More Expensive
July 27, 2021
Retire with Money
Every young generation rejects the practices of those that came before. It’s a tale as old as time — or at least as old as baby boomers not trusting anyone over 30. So I wasn’t surprised to read in last week’s featured story about a 24-year-old entrepreneur rebuffing his mother’s pleas that he open a retirement account. But I was disappointed. Why couldn’t he keep his cryptocurrency-funded CBD boutique and open a Roth IRA? Would that be so terrible? I think it’d be the best of both worlds: one foot in newfangled financial products and one in the old. There’s still plenty to be said for dollar-cost averaging into cheap index mutual funds. It’s not flashy, but it builds wealth over time. Perhaps young people will pay more attention to retirement accounts if the popular trading app Robinhood starts to offer them. The CEO said recently that the company was considering it. Learn more about the news in today’s edition.

Best wishes,
Elizabeth
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Timely Retirement News, Insights, And Advice

Maybe it will prompt young investors to save for the future.

It’s not your imagination — you have been paying more.

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Retirement News From Around The Web

The Oldest U.S. Olympians Competing at the Tokyo Games
Who says elite sports are just for the young? NBC 4

How to Fix Conservatorship in America
Lawmakers on both sides of the aisle agree the system needs reform. NEXT AVENUE

State Auto IRAs Are Building Momentum
Maine, Virginia, and Colorado have recently joined the ranks of states that have passed bills requiring private employers without a retirement plan to automatically enroll their workers in IRAs. SQUARED AWAY BLOG

Why Your Joints Ache After 50 — and What You Can Do About It
Staying physically active helps. AARP

Elizabeth O'Brien is deputy editor at Money. She has covered retirement and health care for nearly a decade. A Brooklyn resident and mom of two boys, she navigates the alphabet soup of Medicare and the New York City subway system with equal ease. You can email her at elizabeth.obrien@money.com and follow her on Twitter at @elizobrien.
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