I have had a lot of jobs. A LOT of jobs. Great jobs. Not so great jobs. But truly, a lot of jobs.
Every one of my full-time jobs came with the benefit of a 401K or equivalent. They were rarely with the same Company. I have had investments with AIG (remember them?), Valic, Vanguard, TIAA-Cref, Fidelity and more.
Like I said, I have had a lot of jobs but now I don’t want to have a lot of stuff to keep track of. I have a couple hundred thousand spread out among all those retirement brokers and I was finally able to get a true sense of what my financial position was when I listed them all in Mint. But I was still dissatisfied. So I finally (FINALLY) I got it all together and embarked on what was a 2 day project and turned it into a year-long event.
In other words, I procrastinated. And procrastination cost…for realz!
By procrastinating, I blew the 1 year of free management they offer for new customers. And I lost what tax loss harvesting advantages I would have accrued during that year but! I did it and the more I do, the more I will learn that there is more I can do.
So it went like this, a year ago I signed up for Betterment after seeing an ad pop up on Mint. I signed up after comparing it to Wealthfront and later Schwab Intelligent Portfolios when they launched. I really wanted it to be Schwab. I have had my major accounts with Schwab for over 10 years. I do everything important with them including my original mortgage. But it wasn’t to be.
I decided on Betterment because I liked that it was IRA focused and I really like all the tools that are part of the Premium service that I decided to splurge on.
The rolling over of my current accounts wasn’t necessarily fun but it wasn’t hard. I just made it hard by dragging it out and making it a bigger deal in my mind. Truth is, Betterment did most of the work. They provided my with instructions, pre-filled in documents to send to my current firms and they would send me progress reports. It is done! Well, almost. After rolling over more than $12,000 from my accounts, TIAA is hanging on to my last $800 there. They actually sent me a letter telling me that Betterment isn’t an approved recipient for my funds. This AFTER already sending thousands of dollars to Betterment already.
I will call TIAA to straighten this out son but am currently procrastinating…
I am enjoying the ease of interacting with my account. I love how easy it is to use the tools to manage my future goals. I am excited thinking this will add to my bottom line when it is time to retire.
I love being able to say “I did it!”