I officially pulled the trigger(s) and moved all my investment accounts to Vanguard.com! I’m pretty excited. I know I should have done it all years ago, as no doubt some of you will remind me of, but just like everything else in life we get to things when it finally becomes a priority :) And I was tired of being lazy and not knowing what I was doing with my investments. (Though, interestingly enough this move will allow me to be even more lazier, once I get things fully set up and moving)
[UPDATE: Here’s where I put all my money into at Vanguard!]
I’ll have to do another post later on what, exactly, I’ll be investing in with these accounts, but switching to Vanguard in itself should give you a good hint as to the general direction ;) Today, however, I pat myself on the back for taking the first step by moving institutions. Something I didn’t take lightly as I finally got all my financial accounts under one roof with USAA – still my all-time favorite company (just not when it comes to investments, since other places specialize in it).
Why I Moved to Vanguard
Here were the main reasons I made the change, in no particular order:
- I wanted to be lazier
- I wanted to be lazier with low fees
- This post by JL Collins
- I wanted to *know* exactly what these low fees were
- I wanted to easily be able to xfer in money without worrying about additional fees (USAA charges you a hefty fee if you want to invest in Vanguard funds through them)
- I like the way Jack Bogle thinks
- I wanted to get a much better snapshot of my retirement money
- And I wanted to do it at a place that specializes in just that – no offense to USAA (If we’re talking car insurance or online banking, they’re pretty much the pioneers).
Interestingly enough Vanguard is also owned by their investors themselves, which I later found out (and loved hearing). So in a way I now own part of a billion dollar company to boot :) The whole story of how Vanguard came about is actually quite fascinating, and would highly recommend learning about it if you have the time and interest. Start with their Wikipedia page. The founder (Jack Bogle) is credited with creating the world’s very first index fund, and there’s even an entire forum dedicated to his vision at Bogleheads.org – pretty cool stuff.
And I gotta tell you, I haven’t felt this good in a while. It’s nice to take action and move closer to financial responsibility :) After tweeting about it earlier too it seems I’m not the only one crushing on them either!
In fact, every person I told after tweeting this only had good things to say about them too. I was pretty shocked to be honest, I couldn’t find any haters out there?? I even asked!
So if you haters do exist, please do speak up. You have to wonder about a place that no one ever complains about, don’t you? At least to have a formidable debate! ;)
Something else I was pleased to find was the EASE and QUICKNESS of moving everything over too. I literally had to create three brand new accounts (SEP IRA, Roth IRA, and Traditional IRA – which will later merge with my SEP which I never know was possible? (Yeah condensing!)), and then on top of that TRANSFER OVER all my 5 accounts from USAA too boot. Since I had so many set up for my crazy IRA Testing many moons ago (which I’m also happy to retire).
Wanna guess how long all that took me? About 80 minutes flat. All on the phone, and without paperwork or anything. I’m still very much in shock :) I even broke the calls down in chunks thinking it was going to be a nightmare, haha… I mean, we were dealing with a half dozen accounts all over the place? How could that be so easy? Remember back in the day when it was all face-to-face or mailing packets of paperwork all over town? Ugh…
(Sorry, couldn’t resist ;))
I was also pleased to know that their customer service was top notch too. Very similar to USAA which was one of my main concerns. I like things nice and easy, and even more so nice PEOPLE on the other end of the line. I don’t do bad service anymore, I’m too old to deal with that crap ;)
I’ll report back once I have a better grasp on everything and invested in my new funds, but I just had to pop in and let y’all know what I’ve been up to lately. I highly recommend* you guys checking out Vanguard too if you haven’t done so already. I’m sure they’re not for everyone (again, good time to speak up haters!), but seeing how they currently hold over two TRILLION dollars worth of people’s money, something tells me I’m in safe hands.
Now where all my Bogleheads at? And do I really have to call
y’all myself that? ;)
[UPDATE: Here’s where I put all my money into at Vanguard!]
* I’m in no way getting compensated by Vanguard to share my opinions here. Believe me, I even asked if they had an affiliate plan since I was going to talk about them anyways, but since it’s all owned by members such as myself (with the goals of keeping costs low of course) they don’t even have a plan set up. Which just goes to show how even MORE awesome they are! People pimp them out for free anyways! Especially the early retirement crew… you can’t read a full article without seeing their names mentioned ;) Which was what eventually led me to make the move.
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