[thexumaker]

wealthfront has 4.3% and 3 mil fdic, way better options available.

[senttoschool]

Robinhood is 4.4% an insured by up to $1.5m.

But the Apple option is attractive for those who want to trust a bigger name - even though their money is insured.

[reducesuffering]

Robinhood requires a $5/mth subscription for that rate, otherwise 1.5%.

[senttoschool]

Yes, but the assumption is that the $5 is easily compensated by the extra interest.

[reducesuffering]

It was in comparison to Apple's 4.15% and Wealthfront's 4.3%. So that's .1 - .25%. And I think most would argue that, at max, you should have a year's bills in cash. So that's like $30k - $80k. Assuming standard marginal income tax rate of 30%, that extra interest is $30 - $400, so $21 to $280, and Robinhood's $60/yr loss, so -$39 to $220. Maybe kind of worth it at the high end, but I guess I should also then mention that 4mo T-bills pay 5.17%.

[yunwal]

Obviously Apple is a big name, but bigger than the FDIC?