I have accounts with Schwab, Fidelity and TRowePrice.
Schwab is the longest relationship and the primary, with tIRA, Roth, inherited IRA, Charitable grant account, brokerage account. Fidelity was a "point in time" alternative when I wanted to contribute to tIRA but could not contribute to the tIRA at Schwab. It's been okay. I have a small tIRA, small Roth, and my HSA there. I believe it may be the best option for HSAs so lean to leaving at least the HSA there. I'm not in love with the website.
TRowePrice is where my employer's 401K has been. I've retired, so have the option to roll over. I have a tIRA and a Roth there. I think that if I keep the accounts, I'm still limited to the funds that are in there now-- but I've got a couple good Vanguard funds, plus a Fidelity 500 Index. So I can live with those options. If I rolled it over, I'd roll 75% of the account over "in kind" because I like the funds. What I don't like is that I'd pay a $92 fee quarterly for record keeping. It's not a huge fee, but I can keep that money at Schwab or Fidelity without paying a fee.
I like having two brokerages. It makes me feel like I have a back up "just in case", though honestly if you said "in case of what?" I'm not sure I have an answer. By the time RMDs are a thing, I sure don't want to be messing with 3 different tIRAs.
I'm leaning to simply withdrawing from Fidelity first, to deplete that tIRA. But I just don't see a clear, best path. Is that because there's not one?
For those who have dealt with this.... what am I missing?
Schwab is the longest relationship and the primary, with tIRA, Roth, inherited IRA, Charitable grant account, brokerage account. Fidelity was a "point in time" alternative when I wanted to contribute to tIRA but could not contribute to the tIRA at Schwab. It's been okay. I have a small tIRA, small Roth, and my HSA there. I believe it may be the best option for HSAs so lean to leaving at least the HSA there. I'm not in love with the website.
TRowePrice is where my employer's 401K has been. I've retired, so have the option to roll over. I have a tIRA and a Roth there. I think that if I keep the accounts, I'm still limited to the funds that are in there now-- but I've got a couple good Vanguard funds, plus a Fidelity 500 Index. So I can live with those options. If I rolled it over, I'd roll 75% of the account over "in kind" because I like the funds. What I don't like is that I'd pay a $92 fee quarterly for record keeping. It's not a huge fee, but I can keep that money at Schwab or Fidelity without paying a fee.
I like having two brokerages. It makes me feel like I have a back up "just in case", though honestly if you said "in case of what?" I'm not sure I have an answer. By the time RMDs are a thing, I sure don't want to be messing with 3 different tIRAs.
I'm leaning to simply withdrawing from Fidelity first, to deplete that tIRA. But I just don't see a clear, best path. Is that because there's not one?
For those who have dealt with this.... what am I missing?
Statistics: Posted by togb — Fri May 10, 2024 10:08 pm — Replies 3 — Views 322