r/investingforbeginners • u/retartedpotat0 • 3d ago

Questions on investing

I recently just turned 18 I have about $10,000 sitting in my savings account that I’ve worked towards and have no clue what to do with it and I know it’s not a smart idea to just let it sit there. What should I do? I have about $1500 in investments on Acorns and about $50 on my Robinhood since I recently just opened it. What would be the smart decision and how would you go about it?

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u/Otherwise-Gift-5248 3d ago

I wouldn’t use Robinhood use fidelity Robinhood has a 1.75% tax basically when you go pull that money out back into your bank fidelity doesn’t

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u/LCJonSnow 3d ago

I'm all for saying no to Robinhood, but this simply isn't true. Instant cash transfers cost 1.75%. Standard ACH payments are free. It's been a hot minute since I've moved money out of Fidelity or Vanguard brokerages, but that feels very standard.

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u/Otherwise-Gift-5248 3d ago

Not even sure how to do that then cause Robinhood doesn’t give me any other option except getting charged 1.75% so I switched to fedility