Vanguard Accounts
Good morning. We are looking to put all of our accounts that we have with Schwab into a vanguard account. Schwab is charging us 1.75% for taking care of our money. We feel that over the course of the next 20 years these fees will add up to over $88,000. We will be taking a monthly draws starting in October of this year. Is Vanguard the way to go? How would we go about doing that? I know you most likely have information on your website, where would I find that?
Thank you for your time.
Terry Says
Unless I’m guessing wrong, you are paying for Schwab Advisory services. You could leave the money at Schwab but ask them to discontinue the advisory services. But you’d have to go directly to Schwab to do that — not through the advisor you are dealing with currently!
You would take over all decisions regarding investments. And your cost would drop to only the low annual fees charged by the funds! If you can handle that, and be disciplined, you’ll save a lot of money over the years.
