This morning, the investing app Robinhood announced the launch of its latest product: Robinhood Retirement. Starting today, users will be able to join the waitlist for Robinhood Retirement which will allow them to open an individual retirement account (IRA) and choose between a traditional or Roth IRA to begin saving for retirement.
Robinhood’s IRA product offers a 1% match from Robinhood on every eligible dollar contributed to the account, meaning that for the first time, savers who aren’t currently benefiting from an employer match (like gig workers) can grow their retirement savings.
