Hello - long time lurker, first time posting. I am counting the days down, as I will retire from medium mega corp in June. Last day will be my 57th birthday, the first day I am eligible to retire and have access to retiree health benefits. DH fired'd at the first of the year at 58, and is enjoying life - can't wait to join him!! Walking out the door for the last time will be the greatest birthday gift ever!!
So, on to my question....When DH retired, we rolled his company 401K from Fidelity to Schwab, where we have several other accounts - individual Roths, taxable accounts, an inherited IRA. We have been happy with Schwab as we have a relationship with a guy in the local office who gives fairly good support, and the folks I've talked to at the 800 number are all very knowledgeable and helpful. Their fees have come down and so are pretty competitive. So in all, seemed to make sense to have his 401k and soon, my company 401k rolled over there too.
My question - Is this too much of our assets at Schwab, once we both have our 401k accounts there? That would make approximately 75% of our investable assets under that umbrella. The way I understand it is that Schwab is a custodian of our accounts, and they do not actually have our money - except that many of our investments are actually under the Schwab brand (index mutual funds, and ETFs, for example.) Many others are with third parties (Vanguard, iShares, for example.)
DH posed this question to our local guy a few weeks ago at our last visit, and he assured us we are fine. But thought this group would be good to bounce it off of. There are so many knowledgeable folks here!
I like the convenience of having most of our accounts together - is this something we should have a concern with? Anyone else ever have similar thoughts?
Many thanks in advance!
So, on to my question....When DH retired, we rolled his company 401K from Fidelity to Schwab, where we have several other accounts - individual Roths, taxable accounts, an inherited IRA. We have been happy with Schwab as we have a relationship with a guy in the local office who gives fairly good support, and the folks I've talked to at the 800 number are all very knowledgeable and helpful. Their fees have come down and so are pretty competitive. So in all, seemed to make sense to have his 401k and soon, my company 401k rolled over there too.
My question - Is this too much of our assets at Schwab, once we both have our 401k accounts there? That would make approximately 75% of our investable assets under that umbrella. The way I understand it is that Schwab is a custodian of our accounts, and they do not actually have our money - except that many of our investments are actually under the Schwab brand (index mutual funds, and ETFs, for example.) Many others are with third parties (Vanguard, iShares, for example.)
DH posed this question to our local guy a few weeks ago at our last visit, and he assured us we are fine. But thought this group would be good to bounce it off of. There are so many knowledgeable folks here!
I like the convenience of having most of our accounts together - is this something we should have a concern with? Anyone else ever have similar thoughts?
Many thanks in advance!