Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 01-11-2022, 06:56 AM   #161
Full time employment: Posting here.
 
Join Date: Dec 2017
Posts: 588
Quote:
Originally Posted by JoeWras View Post
Yeah, if I felt compelled to leave VG, I would just modify my spreadsheet. It is all in a spreadsheet already, so theoretically it shouldn't be too difficult.
Any sale of VTI post conversion would involve 2 lots of VTSAX to adjust for fractional shares and the non alignment of share prices. I guess depending on the amounts you are dealing with you could just disregard the fraction. It seems like too much effort to me.
RetMD21 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-11-2022, 07:04 AM   #162
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
JoeWras's Avatar
 
Join Date: Sep 2012
Posts: 7,609
Quote:
Originally Posted by RetMD21 View Post
Any sale of VTI post conversion would involve 2 lots of VTSAX to adjust for fractional shares and the non alignment of share prices. I guess depending on the amounts you are dealing with you could just disregard the fraction. It seems like too much effort to me.
Yeah, it's when reality meets theory.
__________________
Retired Class of 2018


JoeWras is offline   Reply With Quote
Old 01-11-2022, 07:08 AM   #163
Recycles dryer sheets
retired1's Avatar
 
Join Date: Jun 2011
Posts: 260
Yes Vanguard is unnecessarily making it difficult. I'm trying slowly drift away from Vanguard. For instance, Yesterday I tried to make a short Buy on Vanguard app and it kept asking me for my password even though I was already logged in. I had to go to website instead.
In comparison, Fidelity and Schwab systems seem to be more user friendly. I don't like Schwab charging fee for moving IRA money out to another brokerage. Fidelity has been BEST for me both on the app and website as well as customer service.
retired1 is offline   Reply With Quote
Old 01-11-2022, 07:18 AM   #164
Moderator Emeritus
aja8888's Avatar
 
Join Date: Apr 2011
Location: The Woodlands, TX
Posts: 13,616
Quote:
Originally Posted by retired1 View Post
Yes Vanguard is unnecessarily making it difficult. I'm trying slowly drift away from Vanguard. For instance, Yesterday I tried to make a short Buy on Vanguard app and it kept asking me for my password even though I was already logged in. I had to go to website instead.
In comparison, Fidelity and Schwab systems seem to be more user friendly. I don't like Schwab charging fee for moving IRA money out to another brokerage. Fidelity has been BEST for me both on the app and website as well as customer service.
This fee from Schwab must be new as I moved all my Vanguard IRA and brokerage equities and funds to them 2 years ago and was not charged anything.
__________________
Everyone has a plan until they get punched in the mouth...philosopher Mike Tyson
aja8888 is offline   Reply With Quote
Old 01-11-2022, 07:50 AM   #165
Thinks s/he gets paid by the post
USGrant1962's Avatar
 
Join Date: Dec 2016
Location: DC area
Posts: 1,933
I just had my first case of bad customer service at Vanguard. I'm agent for my mom's accounts and we turned off her automated RMD in 2020 due to the Covid RMD suspension. Then we did a manual RMD in 2021 due to uncertainty of further regulations. Her RMDs were previously going to her Vanguard MM.

In trying to turn automated RMD back on, it offers no option for distributing to her Vanguard non-retirement account, even though that option is all over the instructions. It only offers "calculate and distribute to your bank account" and "calculate only". So I sent a secure message to CS and get basically a canned response back that says I can select to distribute to her bank or Vanguard account. No!

I just responded reiterating the problem, we'll see...

Oh, and their secure messaging function doesn't seem to have underline or bold functionality so I had to YELL to point out what I needed to point out.
__________________
FI and Semi-ER March 24, 2017
Consulting to stay engaged

"All models are wrong, some are useful." - George Box
ďThere is always a well-known solution to every human problem: neat, plausible, and wrong.Ē - H.L. Mencken
USGrant1962 is online now   Reply With Quote
Old 01-11-2022, 08:16 AM   #166
Moderator Emeritus
aja8888's Avatar
 
Join Date: Apr 2011
Location: The Woodlands, TX
Posts: 13,616
Quote:
Originally Posted by USGrant1962 View Post
I just had my first case of bad customer service at Vanguard. I'm agent for my mom's accounts and we turned off her automated RMD in 2020 due to the Covid RMD suspension. Then we did a manual RMD in 2021 due to uncertainty of further regulations. Her RMDs were previously going to her Vanguard MM.

In trying to turn automated RMD back on, it offers no option for distributing to her Vanguard non-retirement account, even though that option is all over the instructions. It only offers "calculate and distribute to your bank account" and "calculate only". So I sent a secure message to CS and get basically a canned response back that says I can select to distribute to her bank or Vanguard account. No!

I just responded reiterating the problem, we'll see...

Oh, and their secure messaging function doesn't seem to have underline or bold functionality so I had to YELL to point out what I needed to point out.
As noted in my post above, I left VG two years ago based on similar stuff. I had requested a check to be mailed to me from them for my RMD (Solo 401K account) and I was told that was not possible. The RMD had to be distributed into my brokerage account. Even the rep I spoke with agreed that was odd. It was so odd and unbelievable, I transferred all my accounts to Schwab.
__________________
Everyone has a plan until they get punched in the mouth...philosopher Mike Tyson
aja8888 is offline   Reply With Quote
Old 01-11-2022, 08:23 AM   #167
Dryer sheet wannabe
 
Join Date: Jan 2022
Posts: 15
i've personally never had problems with vanguard. i had an old school mutual fund account, so i logged in once a year to make 1 trade into my IRA and that was it.

then they started nagging me over and over about transitioning to a brokerage account. so i did....to fidelity. sign up was 2 minutes and all funds transferred over in 2 days. sold my vanguard funds (free to sell) and replaced them with ETFs.
tothemoon is offline   Reply With Quote
Old 01-11-2022, 09:59 AM   #168
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 6,254
Quote:
Originally Posted by aja8888 View Post
This fee from Schwab must be new as I moved all my Vanguard IRA and brokerage equities and funds to them 2 years ago and was not charged anything.


I think the fee was for moving funds out of Schwab. My local b try broker did the same to me. Fidelity reimbursed the fee but I had to ask.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
jazz4cash is offline   Reply With Quote
Old 01-11-2022, 11:26 AM   #169
Thinks s/he gets paid by the post
Souschef's Avatar
 
Join Date: Dec 2015
Location: Santa Paula
Posts: 3,575
Quote:
Originally Posted by jazz4cash View Post
I think the fee was for moving funds out of Schwab. My local b try broker did the same to me. Fidelity reimbursed the fee but I had to ask.
$
Same here. When MS tried to charge me $175 to maintain my account, I said goodbye and transferred my holdings to Fido. The also reimbursed me.
__________________
Retired Jan 2009 Have not looked back.
AA 60/35/5 considering SS and pensions a SP annuity
WR 2% with 2SS & 2 Pensions
Souschef is offline   Reply With Quote
Old 01-14-2022, 08:03 AM   #170
Full time employment: Posting here.
 
Join Date: Aug 2015
Posts: 916
Worst refi I ever had was Wells Fargo. The paperwork requests were ridiculous. Iíve refinanced at least 8 times over the many years, and None ever were as stupidly mindless as WFMC. I had to prove to them that a paid off rental property had no HOA and that the $250/yr Homeowners Insurance Policy on it was paid, well before it was due. Cash assets (where a good lart of out income comes from while we do Roth conversions) does not count. Things like that. And the mortgage on this and the last house for many years were with WF. NEVER again.
Perryinva is offline   Reply With Quote
Old 01-14-2022, 10:29 AM   #171
Full time employment: Posting here.
 
Join Date: Jun 2021
Posts: 941
When you move your accounts out to another brokerage, remember to ask if they have promo for getting a bonus for transferring into the brokerage. Both Schwab and Fidelity have promos like that. We received $6K for the transfer into Fidelity.
RetiredHappy is online now   Reply With Quote
Another frustrating experience at Vanguard -
Old 01-14-2022, 05:19 PM   #172
Recycles dryer sheets
 
Join Date: Oct 2007
Posts: 382
Another frustrating experience at Vanguard -

My Flagship Select Rep did not show up for the appointment & stood me up. This is not the first time he did that.

I am gradually moving my accounts to Fidelity & Schwab, both have local offices in our town. I am hoping for better customer service.

Vanguard has become a disappointing experience, and are driving out long standing loyal customers. They just do not care anymore as to show up for a prior scheduled appointment. They know they are the largest Broker in the world & two investors are coming in vs one leaving them.

Sad state of affairs....
rkser is offline   Reply With Quote
Old 01-14-2022, 05:36 PM   #173
Thinks s/he gets paid by the post
 
Join Date: Mar 2009
Posts: 2,596
Quote:
Originally Posted by USGrant1962 View Post
I just had my first case of bad customer service at Vanguard. I'm agent for my mom's accounts and we turned off her automated RMD in 2020 due to the Covid RMD suspension. Then we did a manual RMD in 2021 due to uncertainty of further regulations. Her RMDs were previously going to her Vanguard MM.

In trying to turn automated RMD back on, it offers no option for distributing to her Vanguard non-retirement account, even though that option is all over the instructions. It only offers "calculate and distribute to your bank account" and "calculate only". So I sent a secure message to CS and get basically a canned response back that says I can select to distribute to her bank or Vanguard account. No!

I just responded reiterating the problem, we'll see...

Oh, and their secure messaging function doesn't seem to have underline or bold functionality so I had to YELL to point out what I needed to point out.
Yes indeed. I've never had a problem with them until I needed them.
__________________
Took SS at 62 and hope I live long enough to regret the decision.
foxfirev5 is offline   Reply With Quote
Old 01-14-2022, 05:52 PM   #174
Recycles dryer sheets
 
Join Date: Oct 2007
Posts: 382
Quote:
Originally Posted by RetiredHappy View Post
When you move your accounts out to another brokerage, remember to ask if they have promo for getting a bonus for transferring into the brokerage. Both Schwab and Fidelity have promos like that. We received $6K for the transfer into Fidelity.
Was the promo of $6k a recent event at Fidelity or in years past ?.

I wonder how much money needs to be transferred for a promo at Fidelity ?
rkser is offline   Reply With Quote
Old 01-14-2022, 05:53 PM   #175
Thinks s/he gets paid by the post
 
Join Date: Aug 2007
Posts: 1,977
Not related to Vanguard, but I called Fidelity twice, yesterday and today, in different divisions (retirement and retail) and both of my calls started with an investment advisor.

I donít know if this happens to everyone, or if I passed some sort of threshold, but both asked me if Iíve ever talked with a financial advisor asked questions about my investing style, etc. One of them tried to figure out how much I had in accounts outside of Fidelity (lol).

Neither were pushy and after I told them I wasnít interested, we moved on to why I called. Except for todayís call (retail) he had to transfer me to a different group, so my call was initially routed to the financial advisors group.

I guess they need to make their money somehow.
__________________
Eat, Drink and Be Merry.
tulak is offline   Reply With Quote
Old 01-14-2022, 06:41 PM   #176
Full time employment: Posting here.
 
Join Date: Jun 2021
Posts: 941
Quote:
Originally Posted by rkser View Post
Was the promo of $6k a recent event at Fidelity or in years past ?.

I wonder how much money needs to be transferred for a promo at Fidelity ?
About 4 months ago - several million dollars. I think the minimum to get a bonus is a million dollars.

You will need to ask if they are running their promo.
RetiredHappy is online now   Reply With Quote
Old 01-15-2022, 09:35 AM   #177
Full time employment: Posting here.
 
Join Date: Aug 2015
Posts: 916
Ahhh s e v e r a l millliyun dollars. Out of my league. My several is 2, LOL

No wonder you Retired Happy…
Perryinva is offline   Reply With Quote
Old 01-15-2022, 09:50 AM   #178
Full time employment: Posting here.
 
Join Date: Jun 2021
Posts: 941
Quote:
Originally Posted by Perryinva View Post
Ahhh s e v e r a l millliyun dollars. Out of my league. My several is 2, LOL

No wonder you Retired HappyÖ
Minimum started at $1M.
RetiredHappy is online now   Reply With Quote
Old 01-17-2022, 11:33 AM   #179
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
steelyman's Avatar
 
Join Date: Feb 2011
Location: NC Triangle
Posts: 5,195
I received a 2021 1099-R form from Vanguard today. It reports a distribution from a Roth IRA that was created in 1998 and had only contributions.

The amount is correct but the taxable amount is not determined (it should be $0). This surprised me since Vanguard should have all records relating to the account. The only thing I can think of that might explain it is the conversion from a mutual fund to brokerage account.

Itís not a big deal as far as doing my tax return is concerned but makes me a bit wary of Vanguardís handling of the transition. I plan to continue withdrawing from retirement accounts but will favor removing from Vanguard while maintaining my asset allocation.
__________________

steelyman is offline   Reply With Quote
Old 01-17-2022, 04:59 PM   #180
Thinks s/he gets paid by the post
VanWinkle's Avatar
 
Join Date: Oct 2017
Location: Morton
Posts: 1,958
Quote:
Originally Posted by steelyman View Post
I received a 2021 1099-R form from Vanguard today. It reports a distribution from a Roth IRA that was created in 1998 and had only contributions.

The amount is correct but the taxable amount is not determined (it should be $0). This surprised me since Vanguard should have all records relating to the account. The only thing I can think of that might explain it is the conversion from a mutual fund to brokerage account.

Itís not a big deal as far as doing my tax return is concerned but makes me a bit wary of Vanguardís handling of the transition. I plan to continue withdrawing from retirement accounts but will favor removing from Vanguard while maintaining my asset allocation.
I do taxes and most 1099Rs other than annuities show taxable amount not determined. That does not mean they are unaware of your records, it is just not their place to determine taxes.
__________________
Retired May 13th(Friday) 2016 at age 61.
VanWinkle is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 6 (1 members and 5 guests)
rayvt
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
The straw that broke the camels back... rayinpenn Other topics 68 07-24-2016 06:42 PM
Auto service "shop supply charge" last straw JoeWras Other topics 124 06-25-2014 10:11 AM
Might be the last straw brewer12345 Other topics 12 02-23-2006 06:36 PM
See @ Last, See @ Last, Thank God I Can See @ Last Beachbumz Other topics 24 02-18-2005 08:16 PM

» Quick Links

 
All times are GMT -6. The time now is 11:17 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.