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I've written this on HN before but Fidelity(1) and Schwab(2) have similar low cost index fund offerings to Vanguard as well so don't think you are stuck with Va

I've written this on HN before but Fidelity(1) and Schwab(2) have similar low cost index fund offerings to Vanguard as well so don't think you are stuck with Vanguard. Both Fidelity and Schwab also offer the best checking account you can possibly get (no fees, minimums, plus ATM reimbursement) for free as well. Additionally, Fidelity has a great 2% cash back credit card. Even if you don't use Fidelity or Schwab's brokerage accounts it's a no brainer to sign up for a checking account with one of them. Vanguard, however, is owned by it's investors if that's important to you. Last I checked you can also trade some Vanguard ETFs on Robinhood as well. I just checked, you can buy VOO, among others, on Robinhood as well as iShares ETFs, which are also low cost index funds. Basically, if you want low cost index funds you have a lot of options, including Robinhood (1)https://www.fidelity.com/mutual-funds/investing-ideas/index-funds https://www.fidelity.com/mutual-funds/investing-ideas/index-... (2)https://www.schwab.com/public/schwab/nn/m/indexfunds.html https://www.schwab.com/public/schwab/nn/m/indexfunds.html

matwood 9y ago
Many VG funds are also traded as ETFs. You can buy those like any other stock. Most brokerages also have a list of commission free ETFs that can be purchased. These typically many include low cost index funds. I agree with you completely, that if someone wants to invest, open a Schwab account (the checking account is one of the best out there and free), and just do it there.
artursapek 9y ago
I can confirm that Fidelity has a great checking account (they call it a "cash management account"). They cover all of my banking & investing needs - they even have a 2% cash back credit card that's pretty great.
tanderson92 9y ago
Schwab has the best checking accounts out there, I use them. But I use Merrill Edge as a commission-free brokerage (30 trades per month with $50k assets, 100 trades per month with $100k assets). The upside (apart from not being limited to iShares at Fidelity and Schwab at Schwab) is in the credit card, which beats Fidelity. Bank of America Travel Rewards rates: * $50k+ Merrill Edge Balance: 2.25% travel rewards cash back * $100k+ Merrill Edge Balance: 2.625% travel rewards cash back Bank of America Cash Rewards: * $100k+ Merrill Edge Balance: 3.5% groceries, 5.25% gas cash back. Great deal. Oh, and they'll often pay you about 0.5% (up to $1000) of assets to transfer your equities in. Holding Vanguard/Schwab/iShares ETFs there is a dream for a personal finance geek. The credit card deal alone makes it all worthwhile.
- nommm-nommm 9y ago
  Thanks for sharing your experiences. I know people who use Merrill Edge (owned by BoA) for index funds as well but I didn't feel comfortable writing about something I don't have any experience with and only a vague knowledge of. My point was, while Vanguard is certainly a great option, there's plenty of other great options out there as well.

matwood 9y ago

Many VG funds are also traded as ETFs. You can buy those like any other stock. Most brokerages also have a list of commission free ETFs that can be purchased. These typically many include low cost index funds. I agree with you completely, that if someone wants to invest, open a Schwab account (the checking account is one of the best out there and free), and just do it there.

artursapek 9y ago

I can confirm that Fidelity has a great checking account (they call it a "cash management account"). They cover all of my banking & investing needs - they even have a 2% cash back credit card that's pretty great.

tanderson92 9y ago

Schwab has the best checking accounts out there, I use them. But I use Merrill Edge as a commission-free brokerage (30 trades per month with $50k assets, 100 trades per month with $100k assets). The upside (apart from not being limited to iShares at Fidelity and Schwab at Schwab) is in the credit card, which beats Fidelity. Bank of America Travel Rewards rates: * $50k+ Merrill Edge Balance: 2.25% travel rewards cash back * $100k+ Merrill Edge Balance: 2.625% travel rewards cash back Bank of America Cash Rewards: * $100k+ Merrill Edge Balance: 3.5% groceries, 5.25% gas cash back. Great deal. Oh, and they'll often pay you about 0.5% (up to $1000) of assets to transfer your equities in. Holding Vanguard/Schwab/iShares ETFs there is a dream for a personal finance geek. The credit card deal alone makes it all worthwhile.

nommm-nommm 9y ago
Thanks for sharing your experiences. I know people who use Merrill Edge (owned by BoA) for index funds as well but I didn't feel comfortable writing about something I don't have any experience with and only a vague knowledge of. My point was, while Vanguard is certainly a great option, there's plenty of other great options out there as well.