Another Update on My Investing Project

Photo credit: Caroline, CC BY 2.0.

Here’s where I am with all of my current investment vehicles:

My personal investing account is successfully with Vanguard and it currently contains $200. I wasn’t able to invest in a Vanguard mutual fund right away because I don’t have enough money for the buy-in, but I was able to buy one share of a Vanguard ETF — and I didn’t have to pay any commission or fees.

I chose the ETF primarily because the share price was low enough that I could buy one. (A lot of ETFs were out of my price range.) It felt a little weird to buy a single share, but it also felt weird to have the money in the account and not try to invest it. I’m treating this as a learn-as-you-go project, and yesterday I learned how to buy an ETF. Next week I’ll look at the different ways to buy an ETF — market, limit, stop, etc. — so I can use that knowledge when I buy my next share.

My HSA is successfully with HealthEquity and I just transferred $200 into the account. I can’t invest the money yet because it’s still going through the transfer process — Planet Money just did a podcast episode about why that process takes so long, if you’re curious — and I’m guessing I won’t be able to invest it after the transfer is complete, because HealthEquity only lets members invest in Vanguard mutual funds and $200 won’t be enough to let me buy in.

I was able to electronically submit the paperwork for my Rollover IRA to TIAA, and received a 34-page form from TIAA that I’ll have to fill out before they’ll complete it. (I technically only have to fill out nine pages of the form; the other pages are instructions and disclosures.)

I also mailed the Roth IRA transfer request paperwork to Vanguard. I can’t do the transfer request for my traditional IRA yet because I need to send it with an account statement, and since I only opened the traditional IRA with Capital One Investing at the beginning of the month, I don’t have a statement yet.

But once I do, I’ll be able to send it off — and eventually all of my accounts (not counting my HSA) will be with Vanguard.


Support The Billfold on Patreon

The Billfold continues to exist thanks to support from our readers. Help us continue to do our work by supporting us on Patreon.

Become a Patron!

Comments