I have read quite a bit over the last few weeks, to educate myself about investments and spent a considerable amount of time
cleaning up investments and fixing bad choices from the past.
But each time I think I kind of have a grip and *think* I know what I need to do next, I read something else and doubt everything I am doing.
I'd be real grateful if someone could enlighten me what is better in my situation, as I fear I might have made a suboptimal choice again.
Here it goes:
I have
401 k with employer match maxed out
Roth IRA (started couple years back but was idle for a couple years), revived a few weeks ago and maxed out for this tax year
Investment account with some previous investment, started putting any new money going in towards VTI
Now my little investment account is still small and the modest gains are offset with some significant losses from bad
previous choices (all new investments are in VTI only, planning to get some Bond fund too, but need a minimum of 3000$ to do that)
This means I could still dissolve everything and go for a better option at this point in time, if it turns out my decision was not good.
I realise what the difference between a ROTH IRA and an IRA is. For this reason I did open a ROTH when I took the decision a few years back.
But with what I know now, that my have not been the right choice.
Now what I am not sure about is wether I should have opened an IRA instead of a regular investment account for my FIRE money.
I thought I had sorted it out and kinda knew what I was doing, but I have doubts now.
Could I please get some opinions on weather an IRA instead of the regular investment account would make sense in my case or not.
Another question I have in the long run (not relevant today, as funds are still low) is at what point do you open a second account
to make sure your money is FDIC insured?
Also in case you are holding Vanguard products in Account #1 with a third party bank (TD Ameritrade in my case). Does it make
sense to open a second Account after a certain Threshold is met, say at Vanguard? Or will it all be lost anyways in case something happens
to Vanguard?
I know this is hypothetical, but the incidents of the last few year make me think of things like these.
Any guidance is welcome.