Too many retirement accounts?

Saving & investing, frugality & simple living. They're all part of the wealth equation.
Here's the place to discuss getting (and keeping!) your money.

Moderator: lvergon

travelinman
Posts: 1
Joined: Wed Aug 08, 2012 3:54 pm

Too many retirement accounts?

Postby travelinman » Wed Aug 08, 2012 4:05 pm

Message has been deleted.
Last edited by travelinman on Fri Aug 10, 2012 8:19 am, edited 1 time in total.

fantasma
Posts: 962
Joined: Wed Oct 07, 2009 4:16 pm
Contact:

Re: Too many retirement accounts?

Postby fantasma » Wed Aug 08, 2012 4:18 pm

I would stick with USAA if they have lower and better options.
Be what you want to attract.

VinTek
Posts: 2227
Joined: Fri May 04, 2007 8:14 pm
Contact:

Re: Too many retirement accounts?

Postby VinTek » Wed Aug 08, 2012 4:57 pm

fantasma wrote:I would stick with USAA if they have lower and better options.

I disagree. USAA is hard to beat as a bank but when it comes to mutual funds offered, I found that their expense ratios were higher than those at Vanguard. I'd consolidate the Roth IRAs under Vanguard.

To the OP: why do you have stocks under Vanguard and not mutual funds? And your diversity is determined by your overall asset allocation. Take a look at your total balance between your 457b and Roth IRAs. Determine how much of your total portfolio is in stocks (including stock mutual funds), bonds and cash. When you're done, combine the IRAs, dump the stocks and buy indexed mutual funds that will bring your total asset allocation to what's appropriate for your age and risk tolerance.

jaiko
Posts: 117
Joined: Sat Jun 16, 2012 8:06 am
Contact:

Re: Too many retirement accounts?

Postby jaiko » Thu Aug 09, 2012 1:35 pm

Agree with Vintek. It's almost always (I'd guesstimate about 90+% of the time) advantageous to combine your personal retirement accounts at one financial institution.

Too many people talk about management fees, but forget the breakpoints. Aggregating accounts makes it easier to hit the higher breakpoints. All FI's offer customized services, lower fees, and ability to buy at NAV for larger accounts.

And unless you're a genius at picking stocks, low expense non-load funds or ETFs will probably earn a better return over the long haul.

DoingHomework
Moderator
Posts: 5602
Joined: Wed Sep 23, 2009 9:01 am
Contact:

Re: Too many retirement accounts?

Postby DoingHomework » Thu Aug 09, 2012 3:24 pm

jaiko wrote:Too many people talk about management fees, but forget the breakpoints. Aggregating accounts makes it easier to hit the higher breakpoints. All FI's offer customized services, lower fees, and ability to buy at NAV for larger accounts.


Or just stick with no-load mutual funds with very low management fees that are always sold at NAV to everyone from places like Vanguard and you'll be set.


Return to “Personal Finance”

Who is online

Users browsing this forum: Google [Bot]