As a gift for my 18th birthday, my parents gifted me $5,000 in a Robinhood account to learn how to invest responsibly (w gift btw). I also plan to contribute 10% of my current savings (\~2k) plus 10% of any future income. My current plan is to invest \~3/5 in secure ETFs and very stable stocks like VTI, VOO, QQQM, MSFT, etc., \~1/5 in bonds and stable commodities like gold, and use the other 1/5 to have some fun with individual stocks and a bit of day trading (not actually expecting to beat the market). I don't even want to touch shorts, options, or futures until I'm *much* more knowledgeable and financially stable.
I've heard a lot of negatives about Robinhood, so I was wondering if I should keep the money there or transfer it to something else like Fidelity. I do like the 3.5% interest on cash, but if there's something better, I want to use that.
Also, any notes on my investment strategy?
Thanks!
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