How to Earn a 3% Roth IRA Match with Robinhood

After the odd-lot transaction we discussed over the past month, several readers expressed interest in other tips or tricks for growing wealth, in addition to my discussion on how I am building out the Dividend Growth Portfolio.

This could include other odd-lot transactions and other arbitrage opportunities, perhaps a refresher on tax deferred/taxable accounts from a US perspective and/or perhaps some deals on brokerage accounts.

Depending on overall interest, I could share with everyone on the mailing list, or perhaps build a second list for these tips/tricks etc. Some may be of help to newer investors who are building out their income generation machines, while others may be of interest to those who are later in their journeys.

One interesting way to boost up investable amounts for me has been opening brokerage accounts for the bonuses. The brokerage business is basically a commodity at this stage, and many companies are actually fighting for customers. As a result, they are willing to pay new customers a decent amount to transfer some or most assets to them from another broker.

This exercise generally involves opening a new account at a new broker, and then initiating a transfer of assets from the old broker. This process can take 7 - 10 business days. There could also be a charge from the old broker for this account transfer, which usually can be reimbursed by the new broker. Of course, the account bonus better be worth it. I do believe that small amounts can add up over time.

When evaluating deals, it is important to understand things like ongoing fees, levels of customer service, and service and overall reliability for the new broker. It is very important to understand the terms of that offer as well. Those include the bonus to be expected for a given level of assets transferred, whether outgoing ACAT fees are reimbursed, as well as the length of time you are expected to keep those assets at the new broker.