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what is up ladies and gents welcome back to the year-old tech crack house today I am hoping to clear up something for many of you who are I think pretty interested in this it is an important topic so I hope that you stick around and enjoy the video and I hope that I can provide as much information as possible to you so today I'm actually going to be taking a kind of a quick look at or I'm going to be explaining to you does Robin Hood need my social security number my SSN and I know many of you have had qualms about this I don't blame you okay giving out your social security number is something that you should never do freely and never do openly and if some organization asks for it then yeah question it you know you try to figure out why they need to try to figure out why they might want it because identity theft let's be honest does run rampant in the United States and all over the world and yeah you should you should be cautious with your SSN because it's extremely important and it's your personal identity so you know anyway okay does Robin Hood need my social security number I'm going to cut to the chase here and we're gonna give you the skinny and the answer is yes they do if they do need it and there are a number of reasons main reason is they need to identify you they need to prove that you are who you say that you are which is extremely important okay they can't have people using the app claiming to be someone that they're not and then you know that's that's a form of identity theft if they cannot back up who they claim to be then that's a problem okay so preventing identity theft through Robin Hood and actually making sure that you are your own self is extremely important that's a big reason why they use ssince okay second reason alright is actually I believe that checking your age as part of this also because with an SSN they can verify your age and that's all very important you know you need to be 18 in order to be investing and that's you know it's good to make sure that you're actually 18 and that you're using this program responsibly okay third reason is basically you need to keep track of your earnings and all of that for tax reasons because the IRS loves to take your money okay I'm not I'm not doubting that they do and I'm sure many of you are familiar with that but the IRS they gotta tax you okay it's what they do now basically every earning that you make with your stocks does have to be taxed and it's tracked and it is applied to you via your social security number so it all is routed back to you and without that SSN it can't be applied as freely to you and that is you know I get where people might have issues you know wanting to do that but it is necessary if you're going to invest you will be taxed and it is really impossible to do otherwise you know so basically it tracks income tracks social security etc etc it's for identification purposes and you know you gotta verify that you are who you are and you gotta verify that your tax is up to date I guess another 1/4 thing is credit okay it is very useful for checking your credit so basically it validates that you are worth your your promise I suppose to pay back debts etc all of that good stuff so I don't want to make this video too complicated or anything I do want to just keep it simple and yes you do need to put your SSN into Robin Hood it's just it's just a fact of the matter okay if you're gonna be using Robin Hood you gotta use the SSN and that is that's a no ifs ands or buts okay basically I think that's going to do it for this video I'm gonna go ahead and read the face article from investopedia.com just to kind of give you a little bit more oversight and yeah so a social security number is a nine digit number that the US government issues to all US citizens and eligible US residents who apply for one the government uses this number to keep track of your lifetime earnings and numbers of years worked when the time comes to retire or if you ever need to receive Social Security disability income the government uses the information about your contributions to Social Security to determine your eligibility and calculate your benefit payments most people will use the same social social permit security number for their entire lives though some people might need to apply for a replacement number at some point because of identity theft keep reading to find out more ok so that the last sentence was honestly unnecessary but that's basically it the you know that pretty much sums it up taxes all that good stuff so it's an identifier and yes it is necessary okay that's it that's that's the skinny you got to do it I apologize but don't hesitate yeah I have trusted Robin Hood with my SSN and it has been totally fine okay so and I do want to state that I am not affiliated with Robin Hood I do not work for them okay I swear to you I am just I I like their app a lot and I've been using it for a couple years so yeah I don't know I just I just like it so have a good one folks I hope you all have a fantastic day and I hope that you find this information helpful okay if you do for free to on go ahead and leave a like sure and subscribe and tell your friends about this video if they might be interested and da keeper here the good old tech crack house and adios