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Started By
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Taking stock of my investments, are there better options now?
Posted on 6/15/24 at 4:14 am
Posted on 6/15/24 at 4:14 am
I’m reevaluating the platforms I’m using and what I’m investing in. 10-15 yrs until retirement, and I like to set it and forget it. I’m primarily looking at my wife’s 401k, our Roth IRAs, and my HSA.
Wife’s 401k: Company was bought out and switched the 401k to Fidelity. No more company match either for her employment status. We’ve currently left the balance in the existing 401k (previous company provided). Should we go ahead and move into fidelity? Since there’s no more company match, is there a better place to invest? We both max out our Roth IRAs. My company has a Roth 401k option. L
Roth IRAs: Wife and I both have been with Vanguard for 10+ years in VTSAX. Is there a more cost effective option now? Switch to Schwab/Fidelity? Switch to ETFs instead of mutual funds?
HSA: Employer recently switched to HealthEquity. I don’t like it, and it does link to Schwab via a brokerage acct. I currently have a Schwab self directed brokerage account through my 401k. I’ve heard Fidelity has a good HSA, but given that my employer’s HSA already links with Schwab, would this be a better route for now?
Wife’s 401k: Company was bought out and switched the 401k to Fidelity. No more company match either for her employment status. We’ve currently left the balance in the existing 401k (previous company provided). Should we go ahead and move into fidelity? Since there’s no more company match, is there a better place to invest? We both max out our Roth IRAs. My company has a Roth 401k option. L
Roth IRAs: Wife and I both have been with Vanguard for 10+ years in VTSAX. Is there a more cost effective option now? Switch to Schwab/Fidelity? Switch to ETFs instead of mutual funds?
HSA: Employer recently switched to HealthEquity. I don’t like it, and it does link to Schwab via a brokerage acct. I currently have a Schwab self directed brokerage account through my 401k. I’ve heard Fidelity has a good HSA, but given that my employer’s HSA already links with Schwab, would this be a better route for now?
3
Posted on 6/15/24 at 5:19 am to meeple
Consolidation of accounts is a good idea.
Fidelity is a low cost provider. I like their platform.
I’m trying to get my number of providers down to 1 eventually. Currently working so I have 3, Corebridge for work, Fidelity for SEP side business, and IRAs at Schwab.
I figure get the money under one roof. See balances with one log in. Plus eventually IF I don’t, I’ll have multiple RMDs to keep up with.
Fidelity is a low cost provider. I like their platform.
I’m trying to get my number of providers down to 1 eventually. Currently working so I have 3, Corebridge for work, Fidelity for SEP side business, and IRAs at Schwab.
I figure get the money under one roof. See balances with one log in. Plus eventually IF I don’t, I’ll have multiple RMDs to keep up with.
Posted on 6/15/24 at 7:19 am to makersmark1
quote:
Fidelity is a low cost provider. I like their platform.
I'd echo this. Fidelity has a nice selection of funds, and has the Brokeragelink option (not sure if Vanguard has something similar)
Posted on 6/15/24 at 8:37 am to meeple
quote:
VTSAX
Good option and very low expense ratio, although I prefer S&P over total stock funds
Posted on 6/15/24 at 9:14 am to meeple
Sounds like you're doing a great job!
Personally..Have had our 401k, ESPP, non-retirement accounts at Fidelity for many years and absolutely love them! The research tools, the interface, the ease of moving money around to other accounts if needed.
I'd move it in a heartbeat if it was me.
I wouldn't put any more money into that 401k if there's no match. That's the primary benefit other than the tax deferment of the contributions, which you'll pay taxes later on. If you max out the Roth IRAs that should be enough on the retirement side.
There are multiple recommendations for mutual funds or ETFs on this board. Great resource, so just read the various threads and decide what works for you.
To me, the best ETFs or mutual funds for retirement tend to share two traits: high diversification and low fees. And how they balance with your expected timelines. Some experts are concerned with funds that mirror the S&P 500 currently as being "too top heavy", i.e. performance is being driven by a few of the top stocks like Microsoft while the broader market isn't necessarily moving in synch. Some slips here or there could impact short term performance. Depends on your timeframe. 10-15 years out might not matter as much.
Not necessarily saying "set it and forget it", but locking it in, making monthly contributions, is key. Maybe into something like Vanguard's 500 Index Fund (VFIAX), which has exposure to ~500 U.S. stocks, might make sense. I've had the Fidelity 500 Index Fund (FXAIX) for years and it's been very solid.
HSA: I wouldn't bother with the hassle of moving from the employer account.
Personally..Have had our 401k, ESPP, non-retirement accounts at Fidelity for many years and absolutely love them! The research tools, the interface, the ease of moving money around to other accounts if needed.
I'd move it in a heartbeat if it was me.
I wouldn't put any more money into that 401k if there's no match. That's the primary benefit other than the tax deferment of the contributions, which you'll pay taxes later on. If you max out the Roth IRAs that should be enough on the retirement side.
There are multiple recommendations for mutual funds or ETFs on this board. Great resource, so just read the various threads and decide what works for you.
To me, the best ETFs or mutual funds for retirement tend to share two traits: high diversification and low fees. And how they balance with your expected timelines. Some experts are concerned with funds that mirror the S&P 500 currently as being "too top heavy", i.e. performance is being driven by a few of the top stocks like Microsoft while the broader market isn't necessarily moving in synch. Some slips here or there could impact short term performance. Depends on your timeframe. 10-15 years out might not matter as much.
Not necessarily saying "set it and forget it", but locking it in, making monthly contributions, is key. Maybe into something like Vanguard's 500 Index Fund (VFIAX), which has exposure to ~500 U.S. stocks, might make sense. I've had the Fidelity 500 Index Fund (FXAIX) for years and it's been very solid.
HSA: I wouldn't bother with the hassle of moving from the employer account.
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