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Taxable Accounts (Which company?)

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  • Taxable Accounts (Which company?)

    Thank you all for your help with these topics. It's a blast reading your replies and studying your posts. Anyways, I randomly won $1k from SoFI in March in some Beyond Meat stock which eventually doubled. I was in fellowship and it wasn't a priority, pleasantly surprised at value when I finally took care of it. I sold this single stock as it doesn't fit my current investment plan and purchased SoFI's S&P500 Index fund (ER 0.19%). I'm completely new to the taxable account and honestly wasn't going to start one until ALL of my refinanced (2.89%) student loans were paid off (Approx 300k, I know I know...spouse also a physician now in fellowship with Approx 200k). Curious if I should just let this sit as a side account and open a "taxable" account with Vanguard, Fidelity...etc in the future once loans paid? Some advice on which company to go with for a taxable account would be great. I have a feeling it has more to do with the investor and the investment vehicles within the account more so the company holding the account, but as always I'm sure to learn from everyone's advice. Thanks!

  • #2
    Any of them are fine. If you already have other accounts at one then just go with that one.


    • #3
      Agree with Cord. Fidelity, Vanguard, Schwab are all basically equivalent. Having some funds in all 3 (across taxable and tax protected) gives me a tiny bit of reassurance with the incredibly small risk of one company doing something strange. That kind of diversification is almost certainly unnecessary and definitely adds to the complexity of keeping up with accounting but it's worth the little extra peace of mind.


      • #4
        I have accounts at Fidelity, Schwab, and Vanguard. I find that the Fidelity site is the most intuitive and user-friendly, but I have been with them for 20+ years and am most accustomed to their layouts and buttons. Schwab also very good. Vanguard is a distant third but still acceptable.


        • #5
          For ease of use and intuitive layout, I like Fido and ET.
          Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087