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Re: How many different accounts do you maintain?
Old 01-10-2006, 11:10 AM   #21
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Re: How many different accounts do you maintain?

Quote:
Originally Posted by brewer12345
I don't want electronic-only.* If I have to substantiate anything, especially in taxable accounts, I want the hard copy record to back it up.
You could always print out a hard copy if you needed it, but only if you needed it.

I just backup my computer regularly and keep a backup copy at an offsite location.
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Re: How many different accounts do you maintain?
Old 01-10-2006, 01:06 PM   #22
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Re: How many different accounts do you maintain?

Lessee, right now I have...

Mutual fund account with American Century
Mutual fund account with Janus
Mutual fund Roth IRA with Janus

401k with Boeing (I think it's managed by CitiStreet or something like that)
401k with Fidelity
401k with Schwab

Online stock account with Scottrade
Checking account with Bank of America
Money Market account with Emigrant-direct

A bunch of savings bonds (E and EE) that my Mom and other relatives took out for me years ago. I think the most recent pays final maturity in 2025

An I-bond I took out back in August.

I don't know if it makes much sense or not, but I just feel safer with some of my stuff spread out. That's why I kept the two older 401k's separate, instead of rolling them into my new company's 401k.
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Re: How many different accounts do you maintain?
Old 01-10-2006, 01:16 PM   #23
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Re: How many different accounts do you maintain?

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I don't know if it makes much sense or not, but I just feel safer with some of my stuff spread out
That's what I'm trying to figure out. Who thinks it makes sense to have more accounts than inertia or other circumstances have caused you to accumulate?

Right now I have one bank account and one brokerage account. I guess I should have titled this thread "What might be good reasons for spreading out your stash in more than one account?"

Eighteen accounts!!?! I'd go bonkers!
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Re: How many different accounts do you maintain?
Old 01-10-2006, 01:20 PM   #24
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Re: How many different accounts do you maintain?

One main checking account (DCU), one main investing account (vanguard). Currently unused wifes old checking acct with $100 in it (useful for when we need a "local bank"). Currently unused emigrant direct and ingdirect accts as vanguards prime money market is offering a superior rate. Currently unused treasury direct acct.

Both main accts sending me electronic statements. I can look up and print any statement or confirmation. At the end of every year I print out the master 'summary' showing all the transactions and whatnot and throw 'em into a file cabinet.

About the only way i'm going to open any additional accounts is if penfed is offering superior rates when my current cd's expire.
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Re: How many different accounts do you maintain?
Old 01-10-2006, 02:02 PM   #25
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Re: How many different accounts do you maintain?

I counted 29, not including a bunch of savings bonds. I do count each bank account and CD as a different account and each account within a family of funds as separate accounts.
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Re: How many different accounts do you maintain?
Old 01-10-2006, 02:04 PM   #26
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Re: How many different accounts do you maintain?

Edward Jones Stock Portfolio. (5 stocks)
Drip Plan thru GE.
457 account (mine)
457 account (hubby's)
Roth IRA thru AIM investments (mine)
Roth IRA thru AIM investments (hubby's)

Credit Union accounts:
One joing checking account.
Two individual savings accounts.
One joint money market account.
Five long-term CDs. (four are Roths)
Monthly purchase of I-Bonds.

Will be adding Drip plan thru Pepsi in a month.
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Re: How many different accounts do you maintain?
Old 01-10-2006, 02:19 PM   #27
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Re: How many different accounts do you maintain?

I have :

IRA (RO): 6 different funds (70/30 stk/bnd)
Roth IRA: 3 different funds (TSM, REIT, INT)


Spouse has:
403(b) account: S&P 500* MF act
IRA (RO) account: S&P 500 MF act
Roth account: S&P 500* MF act

Joint:
Taxable accounts: 2 MMF, 1 checking account, 1 Vangard TSM account
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Re: How many different accounts do you maintain?
Old 01-10-2006, 04:06 PM   #28
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Re: How many different accounts do you maintain?

Quote:
Originally Posted by ladelfina
I guess I should have titled this thread "What might be good reasons for spreading out your stash in more than one account?"

So that if there is a problem with one account you have the funds available to live, conduct your affairs and get the matter straightened out without financial pressure of not having your funds available.
Also harder for thieves to steal from multilpe accounts.
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Re: How many different accounts do you maintain?
Old 01-10-2006, 04:17 PM   #29
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Re: How many different accounts do you maintain?

We have many accounts (over 20?) but only 5 institutions.

1. TCF (local bank)
2. Vangaurd (IRA, RIRA, saving)
3. Fidelity (IRA, RIRA, saving)
4. Smith & Barney (401K)
5. E*Trade (play money - day trading)
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Re: How many different accounts do you maintain?
Old 01-10-2006, 05:08 PM   #30
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Re: How many different accounts do you maintain?

I currently am doing business over 14 financial institutions with numerous CDs, a few CCs and several mutual funds. If it wasn't for my excel spreadsheet, I would feel like a squirrel burying nuts over a large area and not having a map to locate them.

MJ
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Re: How many different accounts do you maintain?
Old 01-10-2006, 05:22 PM   #31
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Re: How many different accounts do you maintain?

Quote:
Originally Posted by MJ
I currently am doing business over 14 financial institutions with numerous CDs, a few CCs and several mutual funds. If it wasn't for my excel spreadsheet, I would feel like a squirrel burying nuts over a large area and not having a map to locate them.*

MJ*
They do sort of add up after a while don't they? I didn't add up the different institutions but with my mom's stuff and mine it adds up to near 20. I have internet access to most of it so my password list is extensive. If I ever lose it or get amnesia my family is screwed since almost all my statements are on line.

DW knows where the back up list is so she could at least find all the account but it is a pain to keep up with them. One of my projects this year is to try to simplify all this by reducing the number of places the "nuts" are buried.
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Re: How many different accounts do you maintain?
Old 01-10-2006, 05:57 PM   #32
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Re: How many different accounts do you maintain?

Banks (11 accts)--1 checking, 2 MM, 8 CDs
Brokerage (8 accts)--3 taxable, 2 Roths, 3 rollover IRAs
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Re: How many different accounts do you maintain?
Old 01-10-2006, 07:19 PM   #33
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Re: How many different accounts do you maintain?

  • Checking: Bank of America (initial nesting point)
  • American Funds: Washington Mutual & New Perspective
  • American Funds IRA: Washington Mutual
  • Vanguard IRA: Target Retirement 2025
  • Treasury Direct: T-Notes & T-Bill's
  • Edward Jone's: T-Bond via secondary market.
  • Emigrant Direct: American Dream Savings Account
  • Valic: Employer's 403b

I'm a little spread out but have always felt comfortable with it and I agree that some diversity among firms at least adds some level of a psychological safety net in my own head, even if it ain't really so.

As for the high load American Funds, I began those back in the late 80's when I didn't know better but after spending months studying this board I've just opened my first Vanguard account!! I will keep the American Funds in place since the load has already been paid* but further IRA's will be directed at Vanguard- I will turn 50 this year so that $5,000.00 investment will give me an extra $225.00 to work for "ME" at my current 4.5% load level at American!! Oh, yeah!!
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Re: How many different accounts do you maintain?
Old 01-13-2006, 10:41 AM   #34
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Re: How many different accounts do you maintain?

2 Checking Accounts (one about to close)
1 MM Account (about to close)
3 Taxable accounts w/ 3 discount brokers
19 DRIPs
2 Annuities
2 SEP IRAs
1 ROTH IRA
1 Mutual Fund account
1 HSA Investment Account
1 Timberland investment (tropicalhardwoods.com Yes, I know, it's questionable )
1 Private Oil Well investment (uncle started it, sold me a stake)

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