Currently a college student with about ~24k saved up. I have a decent amount of that in crypto currencies and don’t want to keep checking crypto prices everyday so I want to invest long term in safe stocks like ETFs.
The plan: Buy Robinhood Gold (essentially loaned money to invest with) from the Robinhood app, doubling my investing power to ~50k. The cost of Robinhood Gold would be $200/month. If I invest all that money into safe stocks like SPY, SPYG, SPYD, ITA, XLK, and other safe stocks, they average about ~3-4% gains each month.
Math: 50,000*.03 = 1500 (monthly gains) 1500 - 200 = 1300 (Monthly Robinhood Gold fee)
Net monthly gain: $1,300
This is a rough estimate assuming the stocks average a 4% monthly gain. Even a 1% gain nets me ~300 a month.
If I diversify my stocks with safe ETFs from different sectors and assuming the market is bullish, I think it would work.
So is this too good to be true?? Am I doing the math wrong?Is there anything I’m missing? Let me know what you guys think.
Submitted December 17, 2017 at 02:53PM by phi_is_cool http://ift.tt/2j8qOxW
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