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Do ER Member Have all their "Eggs" in One Basket?
Old 06-01-2018, 04:50 PM   #1
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Do ER Member Have all their "Eggs" in One Basket?

Do you consolidate all you Nest Egg in fidelity, Vanguard, TD, Schwab or wherever or do you split it up all over the place?
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Old 06-01-2018, 04:56 PM   #2
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That question sounds vaguely familiar...

All eggs in the Vanguard Basket
How many brokerages/banks do you use?
How many separate bank/brokerage accounts ?
Do you keep your investments in one place or spread them out?
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Old 06-01-2018, 05:00 PM   #3
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My taxable accounts are at Vanguard.

But my TSP is not; it is still at the TSP.

Then I also have income streams from SS and from a mini-pension.

Edited to add: Good catch, REWahoo. Yes, those other threads will provide some useful information to the OP.
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Old 06-01-2018, 05:04 PM   #4
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Maybe this question hasn't yet been fully explored. Could be an opportunity for a poll.
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Old 06-01-2018, 05:04 PM   #5
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I am, unfortunately, all over the place: Ameritrade, Metlife, Edward jones, BofA, Goldman Sachs, Health Equity (HSAs). I keep track of everything using Morningstar's Portfolio.
Fortunately, I am not drawing any of it down (yet). My pension and my wife's salary pay the bills (so far).
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Old 06-01-2018, 05:30 PM   #6
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I have 2 banks and 3 brokers.
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Old 06-01-2018, 05:39 PM   #7
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More than 20 accounts, not including banking, at 10 different institutions. His/her, IRAs, 401k, Roth, brokerage, HSA. It multiplies up.

I use Quicken to download and provide a summary.
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Old 06-01-2018, 05:40 PM   #8
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About half my portfolio is with Vanguard and half at my 401(k), with a few bits and bobs at the bank/credit union, HSA, DW's 401(k) and Treasury Direct. The bits and bobs add up to <5% of my portfolio.
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Old 06-01-2018, 05:43 PM   #9
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Various "coffee cans" in a variety of locations + Schwab.
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Old 06-01-2018, 05:44 PM   #10
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I worked in the financial industry, much of what I did was DR, not exercise, but when the stuff hit the fan. Been in a few, of the few data centers, that do those processes.

I use two different companies(two of the big three) in geographically different data centers. If you go wide, like many funds with different sounding locations. It's very possible to buy from 100 different fund companies, only to find their system of record is in the same data center.
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Old 06-01-2018, 07:35 PM   #11
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20 or so different accounts at maybe a dozen or so different banks/Vanguard/KMS. Ten different loans or sales contracts being paid on through two different escrow companies. Five different rental buildings with 37 different tenants paying rent.
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Old 06-01-2018, 08:03 PM   #12
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Before I ERed nearly 10 years ago, I had just under half my money with my employer's 401k administrator, just under half with Fido, and small amounts with Dreyfus and my local bank. When I ERed, the 401k money all went to Fido via a new Rollover IRA, so they have about 97% of my holdings now.
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Old 06-01-2018, 08:14 PM   #13
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IRA & taxable at one place,
Another IRA at another,
and have an annuity, a single issue stock, and a checking acct.
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Old 06-01-2018, 08:19 PM   #14
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Originally Posted by NW-Bound View Post
More than 20 accounts, not including banking, at 10 different institutions. His/her, IRAs, 401k, Roth, brokerage, HSA. It multiplies up.

I use Quicken to download and provide a summary.
Do you need 20? Good to consolidate same types of accounts for investing scale and administrative ease.

We have tIRAs, roths, rollover IRA and taxable at Etrade. 6 accounts.

Plus co 401k at Schwab. Cash at Capital one. HSA at HSA Bank. One brick and mortar bank for checking.
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Old 06-01-2018, 08:25 PM   #15
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All investments (including 401k) at Vanguard.

Two online banks for savings accounts.

Different back for checking.
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Old 06-01-2018, 09:16 PM   #16
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Currently have 80% at Vanguard, 15% at Merrill Lynch(trust dept) and 5% at my local bank. I may open a Fidelity Account when the trust pays out in 2019 since I like their website and they have low cost index funds.
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Old 06-01-2018, 09:28 PM   #17
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We have ours in 5 different institutions which that includes one bank.
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Old 06-01-2018, 10:36 PM   #18
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Roughly even split between VG, Fido, TDA, and Etrade. I'll be moving ETrade to Fido soon to consolidate. Also local banking with one of the big national firms. Don't need it with Fido, but DW likes the local access.
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Old 06-01-2018, 10:45 PM   #19
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Quote:
Originally Posted by NW-Bound View Post
More than 20 accounts, not including banking, at 10 different institutions. His/her, IRAs, 401k, Roth, brokerage, HSA. It multiplies up.

I use Quicken to download and provide a summary.
Please consider consolidating. While we expect and hope you will be around for a long, long time, this many accounts can be a real exercise for your loved ones. It seems every bank, every institution has its own requirements when it comes to settling an estate, and they make you jump through their hoops. My FIL had accounts at numerous banks, and DW and I spent a lot of time getting everything settled.

Two or three, plus maybe a local place for banking should be plenty.


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Old 06-01-2018, 11:41 PM   #20
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All investment accounts (3 IRAs) are at Vanguard. We have CDs with Penfed, a local bank and an online savings account. Also 2 HSA's.

I've set it up at Vanguard so that I can see the whole picture there. I have to update the non-Vanguard stuff on the Vanguard page but it's easy and I just do it monthly.
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