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Started By
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Where do you park your money and invest from within?
Posted on 6/6/25 at 10:59 am
Posted on 6/6/25 at 10:59 am
I have a substantial retirement account at Merrill which means BOA and I get substantial banking privileges, but not necessarily a Merrill fan.
I also have a substantial 401k with Vanguard. Not a fan of the limited funds available to me in the plan.
I'd like to move everything and consolidate in order to have a more comprehensive view and better control.
Also, retired, but considering starting a business to maximize tax reduction strategies opportunities. I know that I can't be self-serving out of a retirement plan, but definitely want to have the opportunity to invest in certain businesses that aren't on an exchange.
Any suggested brokerages that you would recommend?
I also have a substantial 401k with Vanguard. Not a fan of the limited funds available to me in the plan.
I'd like to move everything and consolidate in order to have a more comprehensive view and better control.
Also, retired, but considering starting a business to maximize tax reduction strategies opportunities. I know that I can't be self-serving out of a retirement plan, but definitely want to have the opportunity to invest in certain businesses that aren't on an exchange.
Any suggested brokerages that you would recommend?
6
Posted on 6/6/25 at 11:09 am to HubbaBubba
I'm with Schwab. I also have a bank account with them. When I log in, I see brokerage account, IRAs, and bank account. It is very easy to move money among Schwab accounts or to an external account.
I don't know what you mean by not being able to be self-serving out of a retirement account. If you don't want to serve yourself, then I can send you my information so I can benefit from your retirement money. If mean that you can't use retirement funds to start a business, well then I'd say it depends on how much money you have relative to what you need. It's just money. Do what you want with it to achieve your goals.
I don't know what you mean by not being able to be self-serving out of a retirement account. If you don't want to serve yourself, then I can send you my information so I can benefit from your retirement money. If mean that you can't use retirement funds to start a business, well then I'd say it depends on how much money you have relative to what you need. It's just money. Do what you want with it to achieve your goals.
Posted on 6/6/25 at 11:25 am to HubbaBubba
Fidelity for 401k and non-retirement accounts. Love the format, reporting, trading options. Great site.
Posted on 6/6/25 at 11:47 am to HubbaBubba
As long as the fees are reasonable, I roll with it.
I have an accounts of different types with Voya, Merrill Lynch, Vanguard, and Charles Schwab. They all seem to be decent if you’re interested in buying low cost broadbased funds. I’m mainly use Charles Schwab for individual stocks as I like them for trading in real time.
I have an accounts of different types with Voya, Merrill Lynch, Vanguard, and Charles Schwab. They all seem to be decent if you’re interested in buying low cost broadbased funds. I’m mainly use Charles Schwab for individual stocks as I like them for trading in real time.
Posted on 6/6/25 at 11:50 am to Nole Man
quote:Fidelity is exceptional. Their base customer service is outstanding and is always readily available. The only capability I know that they don't currently have (but they are supposedly working on) is to move Bitcoin and crypto into and out of their custody to and from exchanges and wallets.
Fidelity for 401k and non-retirement accounts. Love the format, reporting, trading options. Great site.
Posted on 6/6/25 at 12:11 pm to HubbaBubba
quote:
starting a business to maximize tax reduction strategies opportunities.
I have a business.
What specific “tax reduction strategies opportunities” are you going to get?
I have some expenses and a SEP, but I don’t seem to avoid much tax.
I’m always ready to learn.
Posted on 6/6/25 at 7:39 pm to HubbaBubba
quote:We have brokerage accounts with UBS, First Citizens, Schwab, and Fidelity. The first two are full service and a bit less than 50% of our holdings. Schwab (+old TDA), and Fidelity we manage. Each has its advantages/disadvantages. I'd recommend any of them.
Any suggested brokerages that you would recommend?
Posted on 6/6/25 at 7:46 pm to HubbaBubba
Schwab is the only platform I know and it’s pretty damn average. Well I also have an RH account which is great on mobile but complete trash on desktop.
This post was edited on 6/6/25 at 7:48 pm
Posted on 6/6/25 at 7:53 pm to beaverfever
I have Schwab and Fidelity.
I like Fidelity a little better.
I like Fidelity a little better.
Posted on 6/6/25 at 7:54 pm to RoyalWe
quote:Hey, thanks for the input. As for the self serving, basically, my understanding is that funds can't be invested in a business where I own greater than 5% of the business. I'd have to take funds out of the account and they'd become taxable instead of staying in the retirement account. That's what I meant by self serving
RoyalWe
Posted on 6/6/25 at 8:04 pm to makersmark1
You would think a massive company like Schwab would spend a little money to make their site engaging and modern but nah. I would start an account with fidelity but I like the historical performance all being combined and that would bother me. Even though Schwab does a pretty mediocre job at that as well.
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