How many separate bank/brokerage accounts ?

[pb4uski]

Just out of curiosity how many different bank/brokerage accounts do you have ?....

More than we really need... 15 in total

Credit union where we used to live (25 miles away from where we live now)- joint savings and checking and my savings
Bank where we used to live - her savings
Local bank where we live now - joint savings (to deposit checks and spending money)
Discover Bank - cash allocation
Vanguard - joint and separate taxable accounts, my tIRA, separate Roths
HSA Administrators - separate HSAs
PenFed - savings and my tIRA

But... 11 of the 15 are inactive and have no or only a couple transactions over the course of a year and 4 we actively use regularly.

Nonetheless, I should consolidate some of these.

 

[tmm99]

Sooo many - Probably way too many.

6 bank accounts 2 of them for CD
3 brokerage accounts (consolidating now to 2)


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[eytonxav]

4 brokerage houses
1 bank

 

[frayne]

So I guess the conclusion, Frayne, is lots!

Yes, I guess so. My next question was going to be how are your accounts set up in the event of your untimely demise. Just about everything I have is POD to a beneficiary in order to keep it simple.

 

[hnzw_rui]

My next question was going to be how are your accounts set up in the event of your untimely demise. Just about everything I have is POD to a beneficiary in order to keep it simple.

Same here.

 

[dtbach]

Just out of curiosity how many different bank/brokerage accounts do you have ?

I have three, Fido, Vanguard and a local bank savings/checking account.

Exact same here.

 

[lem1955]

Local Credit Union
2 checking
2 savings
2 MM
1 mortgage
1 HELOC

Local Bank (thru work until Dec then a CU with link to Ameritrade)
1 HSA

Vanguard
2 tIRA
2 Roth IRA
2 Brokerage
1 Taxable Investments

2 other fund families for small Roth IRA accounts (may be consolidated to Vanguard)

Vermont 529 for grandkids

E*Trade for one stock and a couple of taxable mutual funds

Ally Bank
1 MM
1 savings

Schwab (will be moved to Vanguard after December)
1 403(b)

This is greatly consolidated from where it was a couple years ago. Probably still too complicated for DW. Need to work on a plan for management if I get hit by a truck.

 

[Dash man]

USAA for:
Brokerage
Checking (3)
Savings (3)
Roth IRA (2)
Credit Cards (3)

PenFed for:
CDs (4)
Checking (minimal)
Savings (Minimal)
Credit Card (2)

Bank of America:
Credit card

Voya for:
401k

Fidelity for:
401k
Options from DW's work

Synchrony Bank for:
Savings
CDs (2)

GE Capital Retail Bank (soon to be Goldman Sacks):
Savings

We keep our cash spread among different banks to keep it under the FDIC limits. We can see all accounts on our USAA home page except for the 401k accounts, so keeping track of things isn't difficult. USAA is used for most of our daily transactions.

 

[Cassie]

*1 bank for checking (bills)/savings (house-car maintenance)
*1 brokerage for Roth IRA, taxable investments, money market (emergency fund & annual expenses-prop tax, HOA etc)
*1 credit union for car & vacation saving
*1 TSP (to be accessed when I'm 70.5)

 

[sengsational]

I was reading about these big total numbers of accounts and thought "Oh, my situation can't be as bad". Oh yeah?

20! Thanks mostly to our wonderful laws of the land!

Credit Union - 3 (billpay here)
Megabank - 2 (mostly for spouse)
Random Bank - 1 (me chasing a rate)
Brokerage1 - 7 (IRA, Roth, 529s, taxable plus spouse's)
Brokerage2 - 1
OneGameInTown - 1
Megacorp 401k - 2 (regular & brokerage)
HSA CU - 3 (savings, checking & brokerage)

 

[Dog]

Wow...not as many as some of you

CU1 - checking and savings

CU2 - checking, savings and multiple CDs

Vanguard:
MM account - joint
TIRA -DH
Roth - DH
TIRA - me
Roth - me

TSP - DH

ADP 401k - me

We also keep several $k in cash at home for emergencies.



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[kaudrey]

A bunch

1) At Schwab, we have a brokerage account, one Roth, one IRA, and DH's solo 401(k).
2) Joint bank checking and savings accounts at Citi
3) DH's business banking at BofA
4) My 401(k) is the TSP.

 

[CoolChange]

Too many! (I am currently in re-balancing mode.)
TD -- Main taxable with two small IRA's: t and Roth
Fido -- Another taxable with two 401(k)'s
RPS -- Yet another 401(k)
Schwab -- Small taxable account for the debit card and checking
Merrill -- Taxable & two work accounts, employee stock grants and purchases
2 HSA's
2 Local checking
TreasuryDirect for Ibonds, etc.

Yep, just nutty.

 

[Ed_The_Gypsy]

3.
One checking and savings for the family.
One c&s for my consulting amd outside income at a separate bank.
Vanguard for IRA, Roth and a small brokerage account.

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