Robinhood Aims to Help Independent Workers Retire With Free Money Match

By Sammi Caramela Updated Mar 7, 4:34PM EST · Published Mar 1, 2:20PM EST

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Robinhood Aims to Help Independent Workers Retire With Free Money Match — © AndreyPopov / Getty Images

When you think about retirement funds and savings plans, you might immediately consider employer-backed initiatives companies offer as perks to their W-2 employees — but what about independent workers? Do individuals working for companies like GrubHub and Taskrabbit have to suffer the financial consequences of working for themselves, unable to invest in a sufficient retirement fund? Not anymore.

As more professionals are embarking on self-employment journeys, American financial services company Robinhood is paving the way for independent workers to put aside money — and have it matched — for their retirement. According to a recent press release, the company is launching Robinhood Retirement For Independent Workers, which aims “to give everyone a way to invest in their futures.” This initiative proposes a solution to many solo professionals’ financial woes. Through this plan, the company will provide all types of workers with the necessary financial tools to help them invest in their futures.

Robinhood partners with Gopuff, GrubHub, and Taskrabbit

Gopuff, GrubHub, and Taskrabbit are partnering with Robinhood to deliver retirement accounts to their independent workers.

Robinhood is partnering with Gopuff, GrubHub, and Taskrabbit to pave a path to retirement savings for those who don’t have access to traditional retirement accounts or corporate matching programs, according to Steven Quirk, chief brokerage officer at Robinhood. Through this initiative, independent professionals can navigate this uncertain economic climate and foster a sense of security that many independent workers lack.

While working flexible schedules and exploring income opportunities on your own terms are great perks of self-employment, many shy away from such endeavors due to the lack of retirement opportunities available. In fact, over 50% of independent workers feel they lack effective access to retirement and savings plans. Robinhood Retirement For Independent Workers will bridge that gap and ensure every type of worker receives the same financial perks.

Robinhood Retirement’s free money match

While there are some types of retirement savings plans available for independent workers, these plans are not typically matched by a company or person other than the sole contributor.

Many independent workers will choose to invest in an IRA (Check out Robinhood’s IRAs here), Solo 401(k), SEP IRA, SIMPLE IRA, or another retirement savings plan. However, these individuals must fully fund their own accounts rather than having an employer match their contributions.

Through Robinhood’s retirement accounts, independent workers at Gopuff, GrubHub, and Taskrabbit will receive a free boosted match from Robinhood Retirement — up to 3% for the first year. Additionally, they’ll access financial counseling from GreenPath Financial Wellness, a nonprofit organization that supports individuals as they fulfill their financial goals.

Robinhood Retirement launched back in January of 2023, and Robinhood Retirement For Independent Workers will now begin rolling out to Gopuff, GrubHub, and Taskrabbit independent workers. Robinhood expects to add more partners to its program in the future.

If you’re curious about any other part of the Robinhood process, check out this page: a regularly updated list of all our Robinhood guides, news coverage, and lists of benefits.

About the Author Sammi Caramela →

As a full-time freelance writer, Sammi started her writing journey while still in college, commuting to a part-time job as a business writer in Manhattan. After graduating in 2017 with a bachelor's in writing arts and minor in journalism, she became a full-time B2B journalist and — eventually — built her portfolio enough to pursue a freelance career.

Sammi has bylines on CO— by the U.S. Chamber of Commerce, Business News Daily, 24/7 Wall St., InspireMore, Suggest, and A-Z Animals, among others. While her main areas of expertise include business, finance, and entrepreneurship, Sammi also writes about lifestyle and mental health. In fact, she is the sole author of the column “Trauma! A PTSD Blog” on HealthyPlace.

In addition to her freelance writing career, Sammi is also a published author of a fiction novel called Some Place Like Home, a poetry collection called Mourning Moon, and multiple short stories in various anthologies. She is also the owner of Write of Passage on Substack and the host of the podcast Rite of Passage With Sammi Caramela.