I'm off the RobinHood Gold waitlist. is 2000$ in combined assets enough to use $1000 margin?
Hey,
I was off the RH gold waitlist and hence trying to understand the nuances for an effective 0$ strategies for gold.
Goal:
Negating the 50$ annual fee.
High level plan:
invest $1000 from margin in SGOV or USFR with DRIP to make $36-ish a year.
invest $1150 my money into an IRA to get $23 additional match. (1% vs 3%)
Net cost = -50 gold fee +36ish gain - 9ish fed tax + $23 ira match = 0ish.
My question:
I didnt get clarity from [this](http://reddit.com/r/investing/comments/1mzc565/eli5_robinhood_gold_subscriber_how_do_i_use_the/) and [this](http://reddit.com/r/investing/comments/194chq9/robinhood_1000_margin_sgov/) reddit comments.
1. To use the $1000 margin, do I need to have $2000 in all combined assets in RH or $2000 into the same asset that I'm using margin for?
* If former, can I just put $2000 in IRA to use the $1000 from margin to buy SGOV?
2. Internet says yes but making sure, I get the 3% IRA match for trad non-deductible IRA --> roth IRA conversion as well, right?
Not sure if I use it to the fullest potential but if executed correctly, extra high level benefits:
\- Add extra $5500 in IRA to get +$165 match.
\- best catch all credit card (3%)
\- virtual credit cards
\- Anything I missed?
Sorry if any qts are dumb, lol. Thanks for the response. Happy to add further context.