Official Investing Thread

**onionpouch** · 04-03-2011, 02:48 PM

Stupid question, what's a brokerage account? The Vanguard is a Roth IRA that we set up on our own in addition to my wife's 401K and my 403B

**pGekko** · 04-03-2011, 02:50 PM

Originally Posted by onionpouch

Stupid question, what's a brokerage account? The Vanguard is a Roth IRA that we set up on our own in addition to my wife's 401K and my 403B

It's a trading account. I got it, you have an IRA over there.

Basically, I'm wondering where we should take all of our investing activities, whether it be IRAs, stocks, whatever. Schwab is pretty pricey and with this consolidation that I'm considering, I might just move over to something else. Any suggestions are welcome. I've heard good things about ING Sharebuilder.

**SportsFromA2** · 04-03-2011, 04:02 PM

Originally Posted by gordongekko

Is the Vanguard a brokerage account?

What I'm trying to set up is the following (thinking out loud here):

1) 2 checking accounts (Luckily we both have ours at JPM. I think I"m going to leave those as is)
2) Intermediate savings account (I set up an account with that Pig thing. I figure this can be an intermediate account to be the "middle man" and also hold an emergency fund)
3) IRAs and other trading (stocks, index, whatever)

So I think we keep the Chase checking accounts. I need to close all other checking/savings accounts. From the checking we can initially route all "saved" money to the pig account (I'm still unsure if I'll get dinged on fees to transfer to pig, but I think I'm ok). So now I'm down to 3 bank accounts.

Now I need a brokerage account. Right now I'm at Schwab and she's at E-Trade. I want all of the investing activity at one place. So I think I have everything figured out other than that piece.

So when I'm done (absent our work 401(k)s, which I consider separate) I'll be down to JPM, Pig, and _______ . I think that will be much more manageable.

FWIW, when I initiate an ACH transfer form Chase's site to my FIA account, I did get pinged with a fee.. But if I initiate the transfer from FIA, then I don't get dinged.

My Dad's been with Schwab a looong time so I don't know if he was grandfathered into some old **** but he's extremely loyal with them. All types of IRAs, brokerage accounts and all that, plus the folks at the Ann Arbor Office (where he goes) are very helpful (I've gone there a few times) and seem to go the extra mile IMO.

**flemgoblue** · 04-03-2011, 04:08 PM

Originally Posted by onionpouch

Anyone use ING as their savings account?

yes

**pGekko** · 04-03-2011, 04:08 PM

Originally Posted by SportsFromA2

FWIW, when I initiate an ACH transfer form Chase's site to my FIA account, I did get pinged with a fee.. But if I initiate the transfer from FIA, then I don't get dinged.

My Dad's been with Schwab a looong time so I don't know if he was grandfathered into some old **** but he's extremely loyal with them. All types of IRAs, brokerage accounts and all that, plus the folks at the Ann Arbor Office (where he goes) are very helpful (I've gone there a few times) and seem to go the extra mile IMO.

I think that's how it works. I need to make sure that I initiate all of the transfers from the FIA I end up going with.

I think I might just move everything to Sharebuilder to make things easier.

**SportsFromA2** · 04-03-2011, 04:10 PM

Also it might not hurt to check into Schwab Bank's (I guess they're separate division from Schwab Brokerage?) Check account options:

http://www.schwabbank.com/checking.do

http://www.schwabbank.com/checkingDetail.do

I'll probably be scrapping my Chase Checking account for The Schwab Checking account, might get a few cents interest but more importantly the ATM situation is better (you can go to any ATM's period, and Schwab won't charge you, AND they'll reimburse you up to $9 in ATM fees (from the ATM provider that you go to) a month.. Plus much better customer service.

Also I believe all debit card transactions overseas are fee-free.. So use debit as credit and you don't get charged a fee (I believe most other cards charge 3% or something?)

**MoOff24** · 04-06-2011, 02:38 PM

I use sharebuilder. It's fine...but I have never used anything else so I have nothing to compare it to.

**pGekko** · 04-06-2011, 02:40 PM

Originally Posted by MoOff24

I use sharebuilder. It's fine...but I have never used anything else so I have nothing to compare it to.

Basic or the level up?

**MoOff24** · 04-06-2011, 02:40 PM

Originally Posted by SportsFromA2

Also it might not hurt to check into Schwab Bank's (I guess they're separate division from Schwab Brokerage?) Check account options:

http://www.schwabbank.com/checking.do

http://www.schwabbank.com/checkingDetail.do

I'll probably be scrapping my Chase Checking account for The Schwab Checking account, might get a few cents interest but more importantly the ATM situation is better (you can go to any ATM's period, and Schwab won't charge you, AND they'll reimburse you up to $9 in ATM fees (from the ATM provider that you go to) a month.. Plus much better customer service.

Also I believe all debit card transactions overseas are fee-free.. So use debit as credit and you don't get charged a fee (I believe most other cards charge 3% or something?)

where are the schwab bank branches? I've never see one.