Robinhood Markets CEO and co-founder Vladimir Tenev said in a live webcast on Saturday that Robinhood Markets is considering opening a retirement account in the United States.
The online brokerage platform has approximately 18 million capital investment accounts, most of which are held by retailers.
By providing an individual annuity account (IRA) and Roth IRA, Robin Hood can provide tax incentives for those who save for retirement, thereby opening up a broad market. According to data from the Institute of Investment Companies, Americans held $12.6 trillion in IRAs at the end of March, an increase of 2.8% from the end of December.
The investor responded: “I am interested in establishing more account types, such as IRA and Roth IRA. I have heard a lot from customers. I want my first investor to be what I think is a long-term investor.” Question.
Due to the penalties associated with withdrawals, IRAs tend to attract long-term investment, rather than some investors relying on Robin Hood’s stocks, options, and the rapid reversal of cryptocurrencies.