How Do I Sell Options on Marcus by Goldman Sachs?
Investing in stock can be risky if you're not prepared for market fluctuations but it can be worth it for your long-term goals. If you're looking for options as a financial tool, Marcus doesn't have them available at this time. The platform can provide you with a diversified portfolio composed of ETFs and customized to your risk level. You can make withdrawals from it but remember you might incur taxes and penalties from the IRS.
Goldman Sachs was once reserved for corporate investors. However, consumers were recently granted the same opportunity. Investments, credit cards, savings accounts, and personal loans are some products offered. Marcus by Goldman Sachs offers ETFs for its users' investment portfolios. If you're experienced with investing, you might wonder if you can sell options from your portfolio too.
Options Information
An option is a finance tool based on the underlying value of an asset, such as stock or bonds. It also often comes as part of a contract between a buyer and seller with an expiration date for buying or selling. There is no obligation, but options can be complicated and risky. Options can usually be found through retail and online brokers.
Marcus Basics
The platform uses ETFs which are made up of stocks and bonds. This won't limit your portfolio since Marcus offers over 50 managed portfolios among three themes. Answer some questions based on your investment timeline and risk level to be matched to a customized investment package that is also diverse. You can open an account with an amount of as little as $5.
Options Determination
With the use of ETFs, you might have a few option assets as part of your portfolio but bear in mind that it will be mostly stocks and bonds. At this time, a portfolio comprised of all options isn't available through the platform. You can open a portfolio based on your financial goals. You'll have peace of mind knowing that your investment will grow. Additionally, you get to decide your risk level.
Withdrawals From Your Portfolio
Since Marcus makes it simple to add funds, withdrawals are just as quick to make. Log into your online account and select the Transfer Funds button. Select Withdrawal from the drop-down menu and follow the prompts. You can use the app by selecting Make a Transfer on your account dashboard and then choosing Withdrawal from the Transfer Type drop-down menu. Keep in mind that withdrawals from investment accounts could incur IRS taxes and penalties. Reach out to Marcus by Goldman Sachs customer service representatives here if you have any questions.
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