I've been reading through the forums and trying to figure out how I need to change our accounts to make the most of our savings/investments.
It sounds like Vanguard and Fidelity accounts are popular among Mustachians. I'm willing to switch, but I'm hoping to have the fewest number of accounts possible (or at the fewest number of providers--a bunch of Fidelity accounts would be ok).
Here's what we have:
Bank of America: Checking and Savings
We would be willing to change this, but would need a good reason, because I have a lot of bills coming out of this checking acct automatically.
etrade: IRAs (my Roth IRA, DH's roth IRA and his rollover Traditional IRA) I also need to open a traditional IRA and fund that instead of the roth.
All these accounts are in VFIAX. Would there be an advantage in moving these to Vanguard or Fidelity?
Fidelity: 401k, mostly in FXAIX
This is just where DH's employer has 401Ks. It's a brokeragelink account where we can invest in anything Fidelity offers.
HSA Bank: HSA
We don't have a choice about HSA Bank, but I can transfer the balance to a Fidelity HSA to invest it. Otherwise, HSA Bank would require us to open an account with TD Ameritrade in order to invest.
Schwab: brokerage acct and investor checking
The user interface for Schwab drives me nuts. We really only use this to transfer funds from Germany, because they give a great exchange rate. We don't use the brokerage account.
We need to add a traditional IRA for me, and a brokerage account that we'll actually be using. We also need to open savings accounts for our three kids.
Is there anything we can switch around to make things simpler in the long run? DH will likely stay at his job until FIRE, so we'll have the HSA Bank and Fidelity 401k accounts because that's what his employer offers.
