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> The idea of opening another bank or broker, despite how simple it is I would wager that there are a lot of people that have money in Vanguard because Vanguar

by zemo 2y ago

> The idea of opening another bank or broker, despite how simple it is I would wager that there are a lot of people that have money in Vanguard because Vanguard provides their employer's 401k, and their choice was "Vanguard or no 401k", not "Vanguard or something else of your choice".

wmf 2y ago
Vanguard is a good choice for managing retirement funds. If you want to speculate on high-risk investments, whether doctoms or crypto or whatever, it's better to do it outside your 401k.
- yieldcrv 2y ago
  yeah but the point is that the brand recognition is what occurred and they moved additional money in taxable accounts there
  - wmf 2y ago
    If you lack the agency to open a brokerage account you really shouldn't get into crypto.
    - yieldcrv 2y ago
      nah it just means they'll be buying bitcoin at $500,000 instead of $100,000 when their brokerage firm has a way for them to get exposure
      - wmf 2y ago
        And then they'll sell in the next crash, losing 50% or more.