Trading since July 2006; Master's Degree in Quantitative Finance | Trade Stocks, ETFs, Options, Futures, and Forex | Invest using ultra-low-cost ETFs and mutual funds | 6 figure passive income from dividends
Few ways I have done it which is really passive (means not even managing anything)
- Hard Money Loans and Equity deals of Real Estate
- Other kind if diverse loan types again where someone else is managing the serving collection and legal work
- Getting land (since it doesn't require much management) and selling for profit or renting for agriculture
- Of course Investing in dividend stocks is the most common and most preferred day
- Investing in stocks along with conservative option writing strategies.
- CDs and bank interest - but currently its very low but just few years ago you could get 3% for 5 years
- investing in precious metals - it doesn't generate any income but can be sold for capital gains - look at a gold chart of 20 years!
Of course I might be missing multiple other ways that are possible.
I believe you mean Robinhood.
Charles Schwab is a old traditional brokerage which Robinhood is more marketed towards 20-30 year olds.
Robinhood has clean simple interface...so its very easy for newbies to trade. but that also mean easy to make mistakes.
I have Schwab, Robinhood among other brokers like Interactive brokers,
With Schwab you will find a higher level of customer service.
Commissions are zero for stocks and ETFs on both the platform.
-Robinhood also has a crypto exchange while schwab does not
-With Schwab you can buy bonds, CDs, mutual funds and with Robhinhood you can not.
also whether you purchase stocks from robinhood or Schwab it means the same thing...you are the owner of those stocks.
It depends which country you are from. It is best to not go to a deep discount brokers just because their commissions are the lowest.
For example, in US/Canada commissions for interactive brokers are the cheapest but that does not mean that you should actually use interactive brokers. It is just not meant for beginning traders.
In US/Canada commissions will range from 0.99$ per trader to $19.95 per trade.
If you choose some broker with around $5 commission per trade then their platform will be more user friendly then the ones with deep discount brokers.