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Posted by Mark Freeland on July 6, 2008, 10:00 am
> BreadWithSpam@fractious.net wrote:
>
>> And, as you said, that fee's waived if you get electronic
>> delivery. The OP said he had about $50k across his
>> accounts - if that all went into the target 2045 fund,
>> he'd have no fees and still get all the paper statements.
>
> With that amount, I'd suggest Wells Fargo. He'd qualify for a no-fee
> linked PMA account, and get 100 free transactions per account. So any
> Vanguard fund (I think) and of course all the ETFs you could want.
Some limitations on what Wells Fargo offers in terms of Vanguard funds:
- no access to Vanguard's MMFs; this is particularly significant with
WellsFargo, as they force you into low paying cash accounts
- no access to Vanguard's managed payout funds (which could be good for
tax-sheltered accounts, as Vanguard points out); I don't know what other
funds might be missing
- requires $100K to invest in cheaper Admiral shares (at Vanguard, if
you've owned the fund for 10 years, and have $50K invested, you can convert
to Admiral shares)
- may not be able to convert from Investor to Admiral shares (at $100K)
without tax consequences (in taxable account).
The last point is that, if handled properly, exchanging Investor shares for
Admiral shares can be a non-taxable event. Many brokerages (I don't know
about WF in particular) are not set up to handle this conversion, and will
instead sell the Investor shares and purchase Admiral shares, recognizing a
gain. Doesn't matter in a tax-sheltered account, but still a limitation of
some outside brokerages.
Right now, Vanguard doesn't offer Admiral shares of its target maturity
funds.
On the plus side, accounts held through intermediaries (like WF) are not
subject to the $20 fee for balances below $10K; so the OP could split the
investment six ways without additional fees. Also, the OP would (as you
said) have access to an even cheaper share class of many of Vanguard's
funds - their ETF (formerly VIPER) share class.
Mark Freeland
nNeEwTs@nyc.rr.com
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Posted by Default User on July 6, 2008, 1:53 pm
Mark Freeland wrote:
> Some limitations on what Wells Fargo offers in terms of Vanguard
> funds:
>
> - no access to Vanguard's MMFs; this is particularly significant with
> WellsFargo, as they force you into low paying cash accounts
That might be the case, but they certainly offer plenty of MM funds.
I've used FSLXX in the past.
>- no
> access to Vanguard's managed payout funds (which could be good for
> tax-sheltered accounts, as Vanguard points out);
Certainly a consideration, especially if one were moving out of
accumulation phase.
[other excellent points snipped]
Brian
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Posted by Default User on July 10, 2008, 12:28 pm
Mark Freeland wrote:
[Wells Fargo]
> > That might be the case, but they certainly offer plenty of MM funds.
> > I've used FSLXX in the past.
>
> How did you do that? It would make WF more attractive. They don't
> list this fund (or any other Fidelity *XX MMF) on their list of
> available Fidelity funds:
I think they list all MM funds separately. That being said, I can't get
the MM screener to list any funds at all. Their web site isn't the
greatest. Anyway, last time I bought FSLXX was 3/10/08.
Brian
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Posted by Default User on July 11, 2008, 2:15 am
Default User wrote:
> Mark Freeland wrote:
> > How did you do that? It would make WF more attractive. They don't
> > list this fund (or any other Fidelity *XX MMF) on their list of
> > available Fidelity funds:
>
> I think they list all MM funds separately. That being said, I can't
> get the MM screener to list any funds at all. Their web site isn't the
> greatest. Anyway, last time I bought FSLXX was 3/10/08.
Ok, I got the MM fund screener working. It indeed shows FSLXX:
FSLXX
Fidelity Sel Money Mkt 2.66% 4.47% 4.47% 3.18%
It also has Vanguard MM funds, like:
VMMXX
Vanguard Prime MM;Inv 2.25% 4.36% 4.47% 3.18%
I don't know why they don't put the MM funds in with the fund families.
Brian
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Posted by Ron Peterson on July 5, 2008, 12:55 am
> I'm 38 and have about $50k or so spread across three retirement
> accounts: a Vanguard Target Retirement 2045 fund, a Fidelity Freedom
> Fund 2040, and some misc holdings in Morgan Stanley. I'd like to merge
> them all into either the Vanguard or the Fidelity fund, but I'm not
> sure which one to choose.
Can you move those retirement accounts into an IRA? If so, you would
have many more investment options available.
> Ideally, I'd like to set up my own portfolio -- preferably one with a
> lot of risk, because I'm way behind in my retirement savings. I'm just
> really having trouble finding the time to research and monitor
> everything, despite my interest in learning and participating actively
> in investing; hence, I figured one of the targeted retirement funds
> would be a good choice.
Risk doesn't necessarily mean high return.
A retirement fund will have higher amounts of bonds than would be
optimal for capital appreciation.
You could try something to match the Russell 3000 to match the market.
Or you can try investing in various sectors like energy and technology
to get higher returns.
--
Ron
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