I’ve been investing for about a decade now, and the number of accounts I have is getting out of control.
I have a Rollover IRA, a 401(k), a Roth 401(k), a Roth IRA, a spousal Roth IRA, and an Indiana 529 plan. These accounts are held in three different places:
The 401(k)s are held by my Employer’s choice.
The 529 is held by the State of Indiana’s choice.
The IRAs are held by E*Trade (my choice)
I try to keep everything in order in Quicken and a spreadsheet with a reasonable asset allocation strategy, but it’s hard. For example, I keep about 10% in commodities in the Rollover IRA. Commodities overperform, while the S&P 500 underperforms. The S&P 500 part of my portfolio is in the 401(k)s, so I can’t rebalance by selling commodities and buying the index fund without investing in a new fund, with new minimums/fees, that duplicates a fund similar to what I already have.
I just want to make this stuff easier to track.
Any ideas?
Oh almost forgot. I don’t trust investment advisers. I won’t give ANYONE the power to manage my accounts but me, and even if I was willing to, I’m too cheap to pay them or their fees.
{ 2 comments… read them below or add one }
A good financial advisor can handle that for you. Being that you don’t trust them, that isn’t going to help you. A good financial advisor has software that you can have access to that will track all of your accounts at your discretion. You can even include you bank accounts as well as you life insurance and health insurance coverage, all in real time. You will not be able to consolidate all of the accounts though. Your only option would be to see if your 401k will let you roll your IRA assets into the plan. That would not be a good idea though because your investment options would be really restricted. If you move your 529 plan, you may lose your state tax deductablility. Any other 529 plan than the state plan will incur more fees too.
I wouldn’t be so worried about my exposure to commodities cause over the long haul they will not outperform stocks and are much more correlated to stocks then they have been in the last year or so.
I wouldn’t overthink the whole situation if I was you… rebalancing once or twice a year should be enough.
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