@darkfrosty wrote:i wanna open up a vanguard account but dont have the 3k currently. From my understanding you need to deposit 3k into their money market account in order to open one correct? But you can then use the 3k in the money market to purchase some stocks without losing the account ?
Yes, money market account is effectively cash-holdings for the majority of brokerage houses.
I use Fidelity for most things though I have an old Roth IRA (oh I miss being able to contribute to that) at Schwab and both work fine both in the web interface and their IOS app (though Schwab has got to get into the modern age and allow longer passwords but I digress). I've had a Vanguard account from one of my 401K's, wasn't particularly happy with their web interface and it was a bit junkish for a 401k plan in my estimation as most of the companies I've worked for wind up having. Rollover IRA is where it's at for me personally.
Think someone mentioned Vanguard retirement date funds being cheap: this is correct, the ones I looked at were 1% vs. 1.5% that some others have. I flatly refuse to pay more than 1% fees for anything, and really I personally aim for 0.5% these days, but the bulk of my investments are in individual equities right now rather than mutual or index funds.
@Revelate wrote:
@darkfrosty wrote:i wanna open up a vanguard account but dont have the 3k currently. From my understanding you need to deposit 3k into their money market account in order to open one correct? But you can then use the 3k in the money market to purchase some stocks without losing the account ?
Yes, money market account is effectively cash-holdings for the majority of brokerage houses.
I use Fidelity for most things though I have an old Roth IRA (oh I miss being able to contribute to that) at Schwab and both work fine both in the web interface and their IOS app (though Schwab has got to get into the modern age and allow longer passwords but I digress). I've had a Vanguard account from one of my 401K's, wasn't particularly happy with their web interface and it was a bit junkish for a 401k plan in my estimation as most of the companies I've worked for wind up having. Rollover IRA is where it's at for me personally.
Think someone mentioned Vanguard retirement date funds being cheap: this is correct, the ones I looked at were 1% vs. 1.5% that some others have. I flatly refuse to pay more than 1% fees for anything, and really I personally aim for 0.5% these days, but the bulk of my investments are in individual equities right now rather than mutual or index funds.
vanguards target date ones are really cheap compared to other ones that are over 1% expense ratio. Last time i checked for all of vanguards Target date retirement funds they are .16% and only have an min of 1000 to open one up.
@mongstradamus wrote:
@Revelate wrote:
@darkfrosty wrote:i wanna open up a vanguard account but dont have the 3k currently. From my understanding you need to deposit 3k into their money market account in order to open one correct? But you can then use the 3k in the money market to purchase some stocks without losing the account ?
Yes, money market account is effectively cash-holdings for the majority of brokerage houses.
I use Fidelity for most things though I have an old Roth IRA (oh I miss being able to contribute to that) at Schwab and both work fine both in the web interface and their IOS app (though Schwab has got to get into the modern age and allow longer passwords but I digress). I've had a Vanguard account from one of my 401K's, wasn't particularly happy with their web interface and it was a bit junkish for a 401k plan in my estimation as most of the companies I've worked for wind up having. Rollover IRA is where it's at for me personally.
Think someone mentioned Vanguard retirement date funds being cheap: this is correct, the ones I looked at were 1% vs. 1.5% that some others have. I flatly refuse to pay more than 1% fees for anything, and really I personally aim for 0.5% these days, but the bulk of my investments are in individual equities right now rather than mutual or index funds.
vanguards target date ones are really cheap compared to other ones that are over 1% expense ratio. Last time i checked for all of vanguards Target date retirement funds they are .16% and only have an min of 1000 to open one up.
I think I actually confused them with one of the other wayward accounts I was cleaning up; thank you for the correction!
