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re: Recently came into some money - Schwab joint brokerage account?
Posted on 8/19/26 at 9:25 pm to TorchtheFlyingTiger
Posted on 8/19/26 at 9:25 pm to TorchtheFlyingTiger
quote:
This dude is apparently new to investing and many of you are suggesting picking individual stocks, that's terrible advice for a newbie!
saw that. i'm just sitting back laughing reading this thread. OP obviously knows nothing about investing.
0
Posted on 8/20/26 at 3:09 am to The Hamburglar
Go fidelity simply because of the money market cash sweep function
Posted on 8/20/26 at 6:00 am to The Hamburglar
quote:
I'd go with Fidelity.
This.
Posted on 8/20/26 at 9:14 am to Wwarmouth
Loading Twitter/X Embed...
If tweet fails to load, click here. Why the precious metal hate down voters?
Posted on 8/20/26 at 9:40 am to The Hamburglar
A quick review of OP's post history shows that "we" inherited 200 acres this spring. So I'm going to guess OP sold it, and he said "we" there also. So I'm assuming this is his wife's land and/ or money.
Like I said OP, you should have your wife's name on everything. I'm quite certain her family/ dad would have wanted it this way. It doesn't mean you aren't a good spouse or trustworthy. You should treat her like you would treat your own, and you should want the same for yourself.
Also, everyone told OP not to sell so if he sold he's not taking advice. SO I'm assuming he won't listen to many on here. Probably open a joint accoint, buy a bunch of silver, and invest the rest in bitcoin.
Like I said OP, you should have your wife's name on everything. I'm quite certain her family/ dad would have wanted it this way. It doesn't mean you aren't a good spouse or trustworthy. You should treat her like you would treat your own, and you should want the same for yourself.
Also, everyone told OP not to sell so if he sold he's not taking advice. SO I'm assuming he won't listen to many on here. Probably open a joint accoint, buy a bunch of silver, and invest the rest in bitcoin.
Posted on 8/20/26 at 10:25 am to baldona
Can a case be made for putting assets in joint account for creditor or lawsuit protection? I was recently advised by estate attorney to retitle our individual brokerages to joint for this reason. Something about Tenancy By Entirety (TBE) accounts protecting assets if one spouse was subject to creditors or lawsuit. Apparently it's state dependent. Also, wouldn't widow get added benefit of a 50% step up in basis at death of 1st spouse?
I assume doing so would make them marital assets though and lose protection as inherited individual assets.
I assume doing so would make them marital assets though and lose protection as inherited individual assets.
Posted on 8/20/26 at 11:53 pm to The Hamburglar
I like Fidelity. It has a great brokerage account with checking account and bill pay. I good rewards card with 2% cash back on all purchases. Put your money in VOO 25%, small cap value fund 25%, VGT 25% and SMH 25%.
Posted on 8/21/26 at 2:19 pm to PeteRose
quote:
instead of giving you advice, how about you give me advice on stumbling onto significant amount of money. I’d like this to happen to me one time.
this is for the OP
Posted on 8/21/26 at 3:41 pm to baldona
quote:
I'd consider not doing a joint account. I'm not a lawyer, but I'm assuming 1 of you was given this money as inheritance? Personally I'd put it in that persons' name.
If your wife inherited it, you want it in both names, if you inherited it, you want it in your name only.
Posted on 8/21/26 at 5:53 pm to TX_Tiger23
quote:
I assume when you say your daughter it’s you and your current spouse’s daughter?
Yup. My only wife and I hit 32 years this summer. Our daughter is a ChemE and is loading up the 401k, 401k Roth and Roth IRA. She is gen Z but her abilities and work ethic keep getting her promotions and fat raises.
She will not need my money, but it will make her life easier at an earlier age.
Posted on 8/21/26 at 7:09 pm to notsince98
quote:I was previously only on Schwab but the last month I have opened a Fidelity account and an E*Trade account. The E*Trade account technically already existed but just because that’s where my wife’s now vested RSUs lived. In the last month I’ve actually spent time on it.
If you dont already have Schwab accounts, I'd go with Fidelity. I have both and I think the Fidelity platform functions WAY better.
Anyways, here’s are my findings.
Fidelity > Schwab >> Anything besides E*Trade >>> E*Trade
This post was edited on 8/21/26 at 7:11 pm
Posted on 8/22/26 at 8:22 am to The Hamburglar
If you inherited the money then keep it in your name only. Otherwise you might wake up one day in the future with a wife who wants a divorce knowing she will take a huge sum of money with her. Things might be perfect between you and your wife today but never underestimate the ability of a woman to change character drastically. First hand experience here. Thank God I didn't mix the inheritance I received.
Also, if she inherited the money but wants to put you on it in a joint account then great! Lol.
Also, if she inherited the money but wants to put you on it in a joint account then great! Lol.
Posted on 8/22/26 at 9:41 am to The Hamburglar
Put most (80%) in voo or something similar, and put the rest in a few individual stocks for your play account.
Another option is real estate. I have done well with a couple of lake houses. High end real estate has not stopped appreciating. We ended up renting our first lake house as a short term rental. It went so well the we sold the first one at a strong profit and bought a nicer one a few years ago. We intend to start renting it within the next year or so. We have had numerous outstanding family trips at these properties.
Another option is real estate. I have done well with a couple of lake houses. High end real estate has not stopped appreciating. We ended up renting our first lake house as a short term rental. It went so well the we sold the first one at a strong profit and bought a nicer one a few years ago. We intend to start renting it within the next year or so. We have had numerous outstanding family trips at these properties.
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