I am 66 years old and recently retired. My wife is 65 years old and retired many years ago. We recently consolidated all of our financial assets into our Fidelity Investments account (a wide variety of mutual funds, stocks, money markets, etc.). We have about $4.5M in financial assets (about 75% in IRAs / Roth IRAs). Part of our motivation to consolidate is to make it easier to manage RMDs that will commence in a few years. I was at a luncheon recently where a discussion about retirement investments surfaced. One of the participants had the opinion that it was dangerous to have all of your assets in one firm. I always thought that Fidelity Investments was a pretty secure place to house one’s investments.
Is it OK to keep all investments in one firm (i.e. Fidelity Investments), or should we split investments between Fidelity and another firm (i.e. Vanguard)? I would really appreciate hearing different views on this.
Is it OK to keep all investments in one firm (i.e. Fidelity Investments), or should we split investments between Fidelity and another firm (i.e. Vanguard)? I would really appreciate hearing different views on this.