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bonus color of money chat q: he/she has two IRAs (one traditional, one Roth). should they be worried that they're both with Vanguard?

Posted by moles (aka chris) Sep 8 '11, 11:50

Retirement question

Hi Michelle! I love your sensibilities about saving and paying off debt. My question for you: I have two IRAs (one traditional, one Roth) invested in mutual funds with Vanguard. Is the fact that the funds themselves are diversified enough, or should I also have accounts with other brokerage houses, such as T. Rowe (just to give one example)? Meaning - what happens if Vanguard goes under? Will I be in trouble? I'm just trying to figure out exactly what it means to diversify. I like Vanguard, and I like adding to my accounts as I am able, to purchase more shares, to watch my money grow. But again - if Vanguard itself goes under, am I going to be majorly out of luck? Thank you!

Responses:

I don't get why this is a dumb question. -- nm - sycor Sep 8, 11:59 1
- diversification typically applies within one's portfolio, not meaning you are diverse as to your broker(s) -- nm - moles Sep 8, 12:12
crack and glass are at their lowest prices since the war on drugs began, but I suspect when the world econmny collapse they'll be better than gold -- nm - zeitgeist Sep 8, 11:57 7
- good point, creed. -- nm - moles Sep 8, 11:59 6
  - what's weird is, it might actually be good advice, if you're burying cache's of weapons, then a kilo of crystal would make a better barter than a tube - zeitgeist Sep 8, 12:02 5
    - what the fuck am i gonna barter from a meth head during the apocalypse? -- nm - moles Sep 8, 12:03 4
      - working cars and motorcycles, bicycles, and of course 'mech' parts to make those magical bullets to kill them with -- nm - zeitgeist Sep 8, 12:05
      - "all your food, water, bullets and weapons". easy peasy -- nm - Beaker Sep 8, 12:05 2
        
        they ain't got shit now! -- nm - moles Sep 8, 12:08 1
        
        but they got their meth. use them as bait for their next fix. -- nm - Beaker Sep 8, 12:10
[deleted]
sorry, you are too stupid to be trusted with any money at all....nm - x Sep 8, 11:52 1
- We're gonna give you a show. "Hyde Your Cash" -- nm - CNBC Sep 8, 11:53
[deleted] 2
- that's not safe. it needs to be in a shoe. -- nm - colin Sep 8, 11:53 1
  - *giggle fit* -- nm - Epiphany Sep 8, 11:58
"what happens if Vanguard goes under? " is ridiculous. -- nm - decline Sep 8, 11:51 2
- Sure, that would never happen -- nm - to Baring's bank, Lehman Brothers... Sep 8, 11:54
- i was kind of hoping hyde would weigh in on this angle -- nm - moles Sep 8, 11:52

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bonus color of money chat q: he/she has two IRAs (one traditional, one Roth). should they be worried that they're both with Vanguard?

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