View Poll Results: Where do folks keep their retirement Nest Egg's Investable cash assets?
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One Single Brokerage or Financial Institution
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50 |
32.26% |
More than one Brokerage
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21 |
13.55% |
Brokerage(s), Banks, CUs - (We Spread it Around)
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84 |
54.19% |
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Poll: Where do folks keep their retirement Nest Egg's Investable cash assets?
10-01-2022, 06:41 AM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,666
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Poll: Where do folks keep their retirement Nest Egg's Investable cash assets?
I am curious whether retired folks here keep all their nest egg's investable assets (Cash, stocks, Bonds etc) under one main umbrella.
What I mean is; do folks put all their assets with one broker, i.e.; Schwab, Vanguard, Fidelity, Merrill etc., or do folks spread it around in different banks brokers and Credit unions.
I ask as I am currently consolidating all our nest egg's investable assets into Schwab, and buying investments from/under the Schwab umbrella.
So far I have moved some (unqualified finds) and will move the rest (Qualified IRAs) when the CDs mature in 2024. I am trying to decide if I should put those in another brokerage, say Fidelity.
I will then buy what I want through Schwab and/or Fidelity.
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10-01-2022, 07:02 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 1,653
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Everything is at Vanguard. If I had a compelling reason to move, I'd probably look hard at Schwab and Fidelity [I've had accounts at both in the distant path] because both have physical offices within reasonable driving range.
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10-01-2022, 07:09 AM
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#3
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Recycles dryer sheets
Join Date: Jan 2019
Posts: 62
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I have about two years' cash at the credit union and everything else at Vanguard (leaving it alone through these wonky stock market years). I don't suspect I will make any changes to this plan; it works for me.
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10-01-2022, 07:38 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,864
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For years I had it scattered... Maybe as many as 11 to 12 financial institutions. It was just more work to track than I cared to do anymore so I consolidated to just three.
I do worry about a Lehman Bros collapse (or worse) but I guess I feel about as good as anyone can with the three financial institutions I'm using.
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20's "something" mind, trapped in a 70's "something" body
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10-01-2022, 07:52 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Feb 2021
Posts: 2,328
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Your poll asks about cash but your post asks about all investable assets so I wasn’t quite sure how to vote.
Our cash at this point is mainly with Vanguard though we also have a money market account with Ally along with our regular checking account at BOA.
Our investments are about 2/3 with Vanguard with the rest scattered around a bit.
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10-01-2022, 08:03 AM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,666
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Quote:
Originally Posted by disneysteve
Your poll asks about cash but your post asks about all investable assets so I wasn’t quite sure how to vote.
Our cash at this point is mainly with Vanguard though we also have a money market account with Ally along with our regular checking account at BOA.
Our investments are about 2/3 with Vanguard with the rest scattered around a bit.
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So your vote is/should be: "Brokerage(s), Banks, CUs - (We Spread it Around)"
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"Never Argue With a Fool, Onlookers May Not Be Able To Tell the Difference." - Mark Twain
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10-01-2022, 08:29 AM
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#7
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,266
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My operating cash... the cash in our retirement portfolio that we use for spending... is in an online savings account at Discover Bank (currently 2.15%). Discover is rarely in the lead but usually in the hunt so we stick with them for convenience.
I do have a lot of cash in a Vanguard Roth account that I use to write cash covered puts for income. The most recent distribution yield of the settlement account is 2.33% and the SEC yield is 2.77% plus ~5% income from writing cash covered puts.
We also have taxable, tIRA and Roth accounts with some credit unions, Vanguard and Schwab that are mostly invested in brokered CDs, UST and GSE bonds.... all less than 3 year maturities with a weighted average yield of 3.52% and weighted average maturity of 1.5 years.
We each have HSAs with Fidelity.
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If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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10-01-2022, 08:42 AM
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#8
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Recycles dryer sheets
Join Date: Jan 2021
Location: Allen
Posts: 106
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Your 3 choices are not well thought out. I do not think you are going to get the insight you were wishing for.
I have 3 accounts: TDAmeritrade, Fidelity, and a CU.
So I had to choose "Brokerage(s), Banks, CUs - (We Spread it Around)", but I would not personally describe that as "Spread it Around".
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10-01-2022, 08:44 AM
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#9
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Thinks s/he gets paid by the post
Join Date: Oct 2017
Location: Tellico Village
Posts: 2,607
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I keep my cash at Bask Bank, Vanguard money market, and local bank high interest checking account.
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Retired May 13th(Friday) 2016 at age 61.
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10-01-2022, 08:50 AM
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#10
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Thinks s/he gets paid by the post
Join Date: Jul 2002
Posts: 1,581
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All IRAs at Vanguard. After tax investments at Fidelity. Ready cash is at local B&M credit union or online at Discover. Once had many more accounts but consolidated about 5 years ago. 401(k)s have not been moved to IRAs so mine is in the TSP, wife's is at Vanguard.
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10-01-2022, 08:52 AM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,666
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I should probably have stated in the OP. The Bulk of their investable assets, I personally do not consider a couple of years living expenses in that category, although they could be invested in short term vehicles.
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"Never Argue With a Fool, Onlookers May Not Be Able To Tell the Difference." - Mark Twain
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10-01-2022, 09:55 AM
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#12
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Full time employment: Posting here.
Join Date: May 2013
Posts: 725
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We've carried a lot of cash the last few years (especially in-between houses) so we had it all over the place when HYSA rates exceeded CD's and treasuries. Now that MM accounts and treasuries yields are competitive, we have everything at Vanguard except for our i-bonds and an HSA. I'm going to appreciate this simplicity come 2023 tax time.
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“If you don't do it this year, you will be one year older when you do.” - Warren Miller
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10-01-2022, 09:57 AM
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#13
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Administrator
Join Date: Apr 2006
Posts: 22,973
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Ours is spread around. I'm working on consolidating and simplifying.
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Living an analog life in the Digital Age.
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10-01-2022, 10:11 AM
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#14
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Moderator Emeritus
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,645
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Schwab (IRA, Brokerage acct, small Roth) - 38 years with them now.
Ally - MM and savings accounts - Emergency money, big expenses - 10% of NW, also pay big expenses annually out of these accounts. I really could do without Ally and pay everything out of the Schwab brokerage account.
JP Morgan, Chase - Checking, ATM for day to day expenses. It's where our SS checks get deposited.
Sooner or later, the Ally accounts will be gone.
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*********Go Astros!*********
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10-01-2022, 10:42 AM
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#15
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 1,653
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Quote:
Originally Posted by Gumby
Ours is spread around. I'm working on consolidating and simplifying.
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Your heirs will thank you. I have worked with multiple widows/widowers on taxes and in some cases, personal finance. The scatter strategy seems to create a lot of anxiety for them.
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10-01-2022, 05:48 PM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 17,809
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Bulk of investments at Vanguard. Cash primarily in checking. "Investing" (what little I do) is moving existing MFs to other MFs. YMMV
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Ko'olau's Law -
Anything which can be used can be misused. Anything which can be misused will be.
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10-01-2022, 07:06 PM
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#17
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Full time employment: Posting here.
Join Date: May 2011
Posts: 770
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I have little bits of money spread around from years of bank account and brokerage incentives, etc. Old Roth at IB. Trading account at TD. HSA at TD. Old 401k at my last employer.
This year my goal is to consolidate everything into Schwab.
I've already moved 90% of my assets there. I love having everything in one brokerage account and have been very happy with the level of service at Schwab.
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you interpret daily life according to your ideas of what is possible or not possible - Seth Speaks
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10-01-2022, 09:05 PM
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#18
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Thinks s/he gets paid by the post
Join Date: Nov 2013
Location: Twin Cities
Posts: 3,927
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We are fully invested except the checking account.
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10-01-2022, 10:02 PM
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#19
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Dryer sheet aficionado
Join Date: Jan 2018
Location: Front Range
Posts: 27
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Fidelity for all.
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10-02-2022, 08:40 AM
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#20
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Reading, MA
Posts: 1,714
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Because the OP was somewhat ambiguously phrased, respondents are answering a variety of different questions...
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