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Written by Sam Pennington on March 11, 2023
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How To Invest In The S&P 500 Using Robinhood In 2024

Investing in the S&P 500 index can be a great way to gain exposure to a broad range of large, well-established U.S. companies.

And with Robinhood, it's easier than ever to invest in the S&P 500. In this article, we'll walk you through the steps to invest in the S&P 500 using Robinhood.

First, it's important to understand what the S&P 500 is and how it works. The S&P 500 is an index of 500 large-cap U.S. stocks.

These stocks are weighted based on their market capitalization, or the total market value of their outstanding shares. This means that the larger the company, the more it influences the index's performance.

Now, let's dive into the steps to invest in the S&P 500 using Robinhood.

Learn More: Robinhood Retirement 3% Match

Robinhood is a popular "all-in-one" investing app.

While they are most well-known for their commission free stock trading, they've recently shaken up the Retirement Investing World too.

Introducing Robinhood Retirement; home of the biggest IRA match on the market.

Robinhood IRA Boost

Here's what you need to know:

  • Robinhood offers 2 types of retirement accounts - the Roth IRA and Traditional IRA
  • All Robinhood investors will get a 1% Match on what they Contribute or Transfer
  • Robinhood Gold members will get a 3% Match - the biggest on the market

And don't worry, this comes with a Portfolio Builder Tool. You don't have to construct your investment portfolio from scratch if you don't want to.

Lastly, you'll even get a free stock worth up to $200 when you open a new Robinhood account using our link.

Best Free Stock Promotions

Robinhood Logo1 Free Fractional Share Worth Up To $200Learn More
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Step 1: Open a Robinhood Account

The first step is to open a Robinhood account. You can do this easily through their website or mobile app. Robinhood is a commission-free trading platform, making it a great option for beginner investors.

Step 2: Fund Your Robinhood Account Using Your Bank Account

Once you've opened your Robinhood account, you'll need to fund it using your bank account. You can link your bank account directly to Robinhood for easy transfer of funds. Or you can also link your debit card. 

Step 3: Choose an S&P 500 Index Fund or Invest in Individual Stocks

Now that your account is funded, you can choose to invest in an S&P 500 index fund like VOO, or you can invest in individual stocks included in the S&P 500. If you choose to invest in individual stocks, be sure to do your research to ensure you're investing in quality companies.

Step 4: Place a Market Buy Order on Robinhood Using Fractional Shares

Once you've chosen your investment, you'll need to place a market or limit buy order on Robinhood. Fractional shares are available on Robinhood, which means you can invest in a portion of a share of a stock or fund. This makes it easy to invest in the S&P 500, even if you don't have a lot of money to invest.

And that's it! With just four simple steps, you can invest in the S&P 500 using Robinhood. Keep in mind that investing involves risk, and it's important to do your research and understand the potential risks and rewards before investing. But with the right approach, investing in the S&P 500 can be a great way to grow your wealth over time.

Don't forget to grab your free stock worth up to $200 from Robinhood today!

Article written by Sam Pennington
Sam is a personal finance writer. While in college, he dedicated his spare time to learning about personal finance, investing, and real estate. Sam currently works as a business analyst for one of the top food manufacturers in the world.

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Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
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Get 1 Free Stock Worth Up To $200 From Robinhood!

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Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.

For US Residents only. Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood.

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