It's possible to cash out and transfer the funds to a traditional IRA, which I already have from a previous rollover. Qualified dividends get similar tax treatment. Short-term capital gains are taxed at your marginal rate, which for most people will be 10 or 15 percent, as well. Therefore, you'd pay no federal taxes on this income as long as you're in the 10 or 15 percent federal tax bracket, which is income up to $37,950 for singles and $75,900 for married folks. If you started investing more than a year ago, some of your gains would be classified as long-term gains. The Trump bump in the months after the election sent the market up to even higher highs. The stock market is in the middle of what amounts to an eight-year run. Here's some reasoning that Loyal3 investors might also want to consider.Ĭhances are that you'll have some capital gains if you started investing at any time prior to the last month or two. I'm removing my funds and transferring them to my traditional IRA.
As they say on one of the more popular Price Is Right games, that's too much! Furthermore, new investments have to be at least $25, which was up from $10, and this would obviously cut down a bit on the speed of dollar cost averaging. This was higher than the annual dividend income of about $43 that I'd built up in the account.
#ROBINHOOD VS STOCKPILE FREE#
While up to 2,000 trades a month will be free with FolioFirst, as an investor who's looking for dividend income, the $5 monthly fee would equal $60, or about 3.75 percent of my current account value, over the first year. This new platform for investing is going to charge $5 a month as an account fee. Unfortunately, I got news this week that Loyal3 is shutting down and that funds that remained with the platform after the final shutdown date in May would get transferred to a new brokerage known as FolioFirst. Investing through Loyal3 essentially became the beginning of my Slowly, But Surely Dividend Income Portfolio. Regardless of the small amounts that I invested with each purchase, I was able to build up a nice account with a value of more than $1,600. Few of these transactions exceeded $50 at a time.
I've been making small purchases, usually between three and five every month, ever since.
This was the nudge that it took to get me investing. Better yet, those transactions required no fees. Back in 2015, I learned of a relatively new platform that allowed small-time investors to make purchases toward partial shares for as little as $10 per transaction.
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