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View Poll Results: Where do folks keep their retirement Nest Egg's Investable cash assets?
One Single Brokerage or Financial Institution 50 32.26%
More than one Brokerage 21 13.55%
Brokerage(s), Banks, CUs - (We Spread it Around) 84 54.19%
Voters: 155. You may not vote on this poll

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Poll: Where do folks keep their retirement Nest Egg's Investable cash assets?
Old 10-01-2022, 06:41 AM   #1
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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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Old 10-01-2022, 07:02 AM   #2
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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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Old 10-01-2022, 07:09 AM   #3
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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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Old 10-01-2022, 07:38 AM   #4
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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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Old 10-01-2022, 07:52 AM   #5
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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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Old 10-01-2022, 08:03 AM   #6
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Quote:
Originally Posted by disneysteve View Post
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.
So your vote is/should be: "Brokerage(s), Banks, CUs - (We Spread it Around)"
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Old 10-01-2022, 08:29 AM   #7
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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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Old 10-01-2022, 08:42 AM   #8
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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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Old 10-01-2022, 08:44 AM   #9
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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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Old 10-01-2022, 08:50 AM   #10
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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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Old 10-01-2022, 08:52 AM   #11
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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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Old 10-01-2022, 09:55 AM   #12
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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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Old 10-01-2022, 09:57 AM   #13
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Ours is spread around. I'm working on consolidating and simplifying.
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Old 10-01-2022, 10:11 AM   #14
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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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Old 10-01-2022, 10:42 AM   #15
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Quote:
Originally Posted by Gumby View Post
Ours is spread around. I'm working on consolidating and simplifying.
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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Old 10-01-2022, 05:48 PM   #16
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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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Old 10-01-2022, 07:06 PM   #17
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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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Old 10-01-2022, 09:05 PM   #18
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We are fully invested except the checking account.
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Old 10-01-2022, 10:02 PM   #19
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Fidelity for all.
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Old 10-02-2022, 08:40 AM   #20
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Because the OP was somewhat ambiguously phrased, respondents are answering a variety of different questions...
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