Poll

At what point do you have an investing problem?

1 broker account
3 (15%)
2 broker accounts
5 (25%)
3 broker accounts
7 (35%)
4 broker accounts
0 (0%)
Whats the problem I just give them my check and sometimes they let me keep some?
5 (25%)

Total Members Voted: 19

Author Topic: Investors Anonymous  (Read 4297 times)

mrpercentage

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Investors Anonymous
« on: September 20, 2015, 12:06:55 PM »
Is there a too much point?

I have 5 accounts. Not sure how that happened. Mom talked me into my first at American Funds. I jumped into Scottrade. Later I found Betterment. Then came Robinhood. Wait then came direct stock purchasing. Somewhere in there I began a 457. Eh, I might have a problem. Did I mention Im looking at Vanguard? I need to consolidate somewhere I think.

forummm

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Re: Investors Anonymous
« Reply #1 on: September 20, 2015, 03:43:19 PM »
I suggest having a single, evidence-informed investing philosophy first. Then worry about how many brokerage accounts you have. You probably don't need more than one. But you do need a good investment philosophy that you can stick with and doesn't cost you much. Many people here have encouraged you on that front.

innerscorecard

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Re: Investors Anonymous
« Reply #2 on: September 20, 2015, 03:48:24 PM »
I have many accounts, but I don't consider it a problem. They all have different costs and tools for different purposes, which I take advantage of as needed.

It makes calculating composite returns a pain, so I do it all by "hand" in Excel. Worth it so far.

Indexer

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Re: Investors Anonymous
« Reply #3 on: September 20, 2015, 07:16:30 PM »
I suggest having a single, evidence-informed investing philosophy first. Then worry about how many brokerage accounts you have. You probably don't need more than one. But you do need a good investment philosophy that you can stick with and doesn't cost you much. Many people here have encouraged you on that front.
+1


Kaspian

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Re: Investors Anonymous
« Reply #4 on: September 22, 2015, 01:29:09 PM »
I suggest having a single, evidence-informed investing philosophy first. Then worry about how many brokerage accounts you have. You probably don't need more than one. But you do need a good investment philosophy that you can stick with and doesn't cost you much. Many people here have encouraged you on that front.

I support this message.  Personally, I'd rather invest coherently--like with a sniper rifle rather than a blunderbuss.  My small town buddies have a saying when they're out hunting:  "Accuracy through volume."  That what the OP's working towards?

Index funds already have their fingers in all the pies--sticking your own in everywhere misses the point of buying them.

matchewed

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Re: Investors Anonymous
« Reply #5 on: September 22, 2015, 01:38:42 PM »
Someone needs an investment policy statement...

BarkyardBQ

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Re: Investors Anonymous
« Reply #6 on: September 22, 2015, 01:42:27 PM »
+1 to sticking to a philosophy or singular strategy

We have 12 accounts, 3 are taxable brokerage accounts. I'm working on getting rid of computershare (gifted to me at age 12), sharebuilder, and Vanguard. Just TLH'd most of share builder and moved it into VTSMX and VTIAX at Vanguard because it aligns with our IPS. Will do the same with computershare, the rest in SB will just sit there for awhile. The remaining accounts are all retirement accounts with active monthly or yearly contributions. All invested in different classes of the same funds between Fidelity and Vanguard. We don't have a problem, we utilize every vehicle and maintain our AA.

mccullough

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Re: Investors Anonymous
« Reply #7 on: September 22, 2015, 01:46:31 PM »
I suggest having a single, evidence-informed investing philosophy first. Then worry about how many brokerage accounts you have. You probably don't need more than one. But you do need a good investment philosophy that you can stick with and doesn't cost you much. Many people here have encouraged you on that front.
Having a good investment philosophy sounds like a good idea. But how does a newbie know when the right time to develop one is? (not saying mr percentage is a newbie, mostly asking for myself)

matchewed

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Re: Investors Anonymous
« Reply #8 on: September 22, 2015, 01:50:23 PM »
I suggest having a single, evidence-informed investing philosophy first. Then worry about how many brokerage accounts you have. You probably don't need more than one. But you do need a good investment philosophy that you can stick with and doesn't cost you much. Many people here have encouraged you on that front.
Having a good investment philosophy sounds like a good idea. But how does a newbie know when the right time to develop one is? (not saying mr percentage is a newbie, mostly asking for myself)

That's easy. Before you invest.

That way you know what to invest in. :)

Outside of that you can always just pick a low cost broad index fund (for equities) until you get your research cranked up. But if you're a newbie newb just follow some basics first from http://jlcollinsnh.com/stock-series/

Kaspian

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Re: Investors Anonymous
« Reply #9 on: September 23, 2015, 10:10:58 AM »
Having a good investment philosophy sounds like a good idea. But how does a newbie know when the right time to develop one is? (not saying mr percentage is a newbie, mostly asking for myself)

It doesn't have to be too complicated.  Mine goes:

- Auto-invest half my paycheck.
- Into index funds in the following ratios:  40% bonds, 20% Canadian equity, 20% American, 20% International.
- Rebalance at the end of June and end of December in the most tax-efficient way.
- If I have money leftover at the end of a pay period or come into extra cash, invest that in the underperforming asset class.
- Don't screw with the plan and don't touch the muthafucka until FI!!

dungoofed

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Re: Investors Anonymous
« Reply #10 on: September 25, 2015, 04:43:28 PM »
meh, I don't think there is any harm in keeping a few different accounts here and there. Unless you are a stock-only investor there is no such thing as keeping all your investments in the one place. Thinking of adding one commercial property to the mix? Now your portfolio is a mess and you're going to have to do it all by hand anyway.

You're always going to have two - your taxable and your tax-free. It's not beyond the realm of possibility you have a Vanguard account too. Of course there are examples where consolidation is a good thing but it's not worth losing sleep over IMHO.

mrpercentage

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Re: Investors Anonymous
« Reply #11 on: September 25, 2015, 07:47:16 PM »
My investment policy is very simple right now. I am auto investing to a 457 and also auto buying Exxon and Conoco directly and will continue to do so until Exxon yields less than 3.25% and Conoco less than 4.5%. Then I will set them to pay out dividends and start auto buying utilities or Proctor & Gamble with new alerts set. Everything else is set to sell on my targets. Targets or bust period. Except Disney, Im keeping that forever. Almost everything here on will be holding forever. A trip camping set me strait on all of this. Way too much noise. There are better things to attend to. Like a trapper my traps are set and its up to fate to provide.