Annuities?

[roi2020]

Nov 25, 2022 18:41:39 GMT ECE Prof said:

Nov 25, 2022 17:29:10 GMT mnfish said:

We'll start out very basic and keep it that way as she has no clue what to do. She knows that Fidelity offers additional services if I'm out of the picture.
I must say I was very impressed with how easy it was to open accounts with Fidelity set up transfers and beneficiaries and to create CD ladders, buy bonds, etc. I think I might give Wells Fargo a call and make some suggestions.

+1. I moved all of my Vanguard accounts—probably after 3 decades—could be just 29 years—to Fido. In fact, I was a FIDO customer too until 1997. Two of our accounts have closed as of last Friday. There is a left cash $3.50 balance in one account, which may be transferred on Monday. Once it is closed, I am done with Vanguard.

There are many advantages in FIDO. The most important ones:

1. You are not forced to buy Vanguard ETFs/Funds to maintain the investment status. There is no investor status in FIDO. All are equal.

2. You are allowed to buy dollar-based securities.

3. Furthermore, you can buy leveraged equities, such as TQQQ, SQQQ, etc.

4. Research, DIV. Info are widely available for tax estimate purposes.

5. You can also compare with other similar funds/ETFs.

6. Tax reporting is available within easy reach and match exactly with the IRS forms and styles.

7. Fund transfer is faster in FIDO to and from your bank accounts.

I understand that there is a blog space. I do not particiapte there.

I am sure that there are many more advantages with FIDO over Vanguard.

I've had accounts with Fidelity and Vanguard for years.
Fidelity has a superior website and a better fund screener.
I'd also give Fidelity the nod for customer service although my Vanguard experiences were good overall (haven't engaged customer service often at either firm).
I stay with Vanguard primarily to gain access to Vanguard's actively managed funds which are unavailable elsewhere or have limited availability/transaction fees.
Vanguard also allows investors to purchase certain institutional share classes (e.g., Pimco) which are inaccessible via Fidelity.

Vanguard investors are not forced to buy Vanguard ETFs/mutual funds.
If an investor has $1M or more in eligible assets at Vanguard, they attain Flagship status.
Flagship status includes 25 free transaction-fee fund trades and access to the otherwise closed Primecap funds.
I consider this status to be a benefit versus Fidelity's "equal status."

[FD1000]

Nov 25, 2022 18:41:39 GMT ECE Prof said:

Nov 25, 2022 17:29:10 GMT mnfish said:

We'll start out very basic and keep it that way as she has no clue what to do. She knows that Fidelity offers additional services if I'm out of the picture.
I must say I was very impressed with how easy it was to open accounts with Fidelity set up transfers and beneficiaries and to create CD ladders, buy bonds, etc. I think I might give Wells Fargo a call and make some suggestions.

+1. I moved all of my Vanguard accounts—probably after 3 decades—could be just 29 years—to Fido. In fact, I was a FIDO customer too until 1997. Two of our accounts have closed as of last Friday. There is a left cash $3.50 balance in one account, which may be transferred on Monday. Once it is closed, I am done with Vanguard.

There are many advantages in FIDO. The most important ones:

1. You are not forced to buy Vanguard ETFs/Funds to maintain the investment status. There is no investor status in FIDO. All are equal.

2. You are allowed to buy dollar-based securities.

3. Furthermore, you can buy leveraged equities, such as TQQQ, SQQQ, etc.

4. Research, DIV. Info are widely available for tax estimate purposes.

5. You can also compare with other similar funds/ETFs.

6. Tax reporting is available within easy reach and match exactly with the IRS forms and styles.

7. Fund transfer is faster in FIDO to and from your bank accounts.

I understand that there is a blog space. I do not particiapte there.

I am sure that there are many more advantages with FIDO over Vanguard.

You are comparing Fidelity to a dinosaur.
1) Schwab account updates happens that evening, instead of hours later or the next morning.
2) Fund distributions at Schwab are posted on the same date as you get them, instead of 1-2 days later at Fidelity.
3) If you sell in your IRA a fund, you can't buy another fund instead online on the same day.  You must call a rep, and they let you buy only 90% of the proceeds, even if you sold a bond fund, that moves at 0.1-0.3%.
4) Fidelity rep quality is worse than years ago.
5) You can get cash reward only on one million.  Schwab will match other brokers offers, such as this (one), starting with $5K.
6) Chances Fidelity will wave your $50 fee on I share fund are slim.
7) Fidelity site used to be pretty good years ago, until they changed it. It is not friendly and intuitive.  Schwab is much better.

Basically, Fidelity is more rigid than Schwab.

Both are great companies, I use both, but have the majority at Schwab.

[ECE Prof]

I had a safe 7-figure portfolio in Vanguard, but I moved to other ETFs. Vanguard warned me in Sep. 21 to move back to Vanguard ETFs (I do not/did not use mutual funds since 2010, when Vanguard opened the brokerage account and moved all of my mutual funds to ETFs) or else downgrade my status. They did it after Sep. 30 and downgraded to Select Services. The trades of ETFs and all of my PIMCO CEFs and others are free. So, the status does not mean much to me. Yet, they did it.

Who lost now? Vanguard. Vanguard lost 7-figure portfolio now.

[bruno]

I believe that MYGA (Multi-Year Guaranteed Annuity) are up there with SPIA's. MYGA's are just like CD and pay a certain interest for a # of years. Defer taxes on the interest and NO fee's. Lot of people are buying CD and treasuries in these rough times and MYGA are paying more. Yes, dont buy one if you are going to need the money before the contract ends but you can also get MYGA with a FREE 10% each year withdrawl.