VG Monthly Statements Are HORRIBLE!
VG Monthly Statements Are HORRIBLE!
My gripes (not all of them):
1) My last statement compares my current balance to LAST YEARS balance, not last month. I look at my statements to balance this month’s statement to last month’s statement – not last year. (Current Balance = Previous Balance + additions – subtractions). Four times a year they do this. It adds work to what should be a simple task. It’s not what I want, and is unnecessary (BTW – they can’t change this – I asked. You’d think it would be an easy change, but it’s not just difficult, it’s impossible).
2) Dollars added to my sweep account are negative? Huh? A sweep-in is NEGATIVE? Yup – that’s what the statement says. Something must have changed in Mathematics since I went to school (when dollars added was a positive).
3) On a particular account I have a sweep (settlement) fund, and some Mutual Funds. What I want to do is balance each Fund. For each fund I want to know the starting and ending balances, what was added and what was subtracted. Instead I get a chronological string of dozens of ‘activities’ for all funds. Again, adds time to what should be a simple task.
This isn’t a show stopper, but if they can make their statements less complex it would save me time and frustration. All I’m talking about is to make their statements similar to other companies – whose statements are logical and simple. But alas, this is an impossibility.
Anyone else not happy w/VG statements?
1) My last statement compares my current balance to LAST YEARS balance, not last month. I look at my statements to balance this month’s statement to last month’s statement – not last year. (Current Balance = Previous Balance + additions – subtractions). Four times a year they do this. It adds work to what should be a simple task. It’s not what I want, and is unnecessary (BTW – they can’t change this – I asked. You’d think it would be an easy change, but it’s not just difficult, it’s impossible).
2) Dollars added to my sweep account are negative? Huh? A sweep-in is NEGATIVE? Yup – that’s what the statement says. Something must have changed in Mathematics since I went to school (when dollars added was a positive).
3) On a particular account I have a sweep (settlement) fund, and some Mutual Funds. What I want to do is balance each Fund. For each fund I want to know the starting and ending balances, what was added and what was subtracted. Instead I get a chronological string of dozens of ‘activities’ for all funds. Again, adds time to what should be a simple task.
This isn’t a show stopper, but if they can make their statements less complex it would save me time and frustration. All I’m talking about is to make their statements similar to other companies – whose statements are logical and simple. But alas, this is an impossibility.
Anyone else not happy w/VG statements?
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Re: VG Monthly Statements Are HORRIBLE!
Not I. I can't remember the last time I looked at a VG statement. (Must have been pre-internet era.)
Trade the news and you will lose.
Re: VG Monthly Statements Are HORRIBLE!
I hate that my year-end statements are printed back-to-back with different accounts on the same physical sheet of paper. This makes them impossible for me to file in a file cabinet where I use different folders for each account. On the other hand, if one person has 3 Roths, why are they mailed in separate envelopes?
Re: VG Monthly Statements Are HORRIBLE!
I put all the transactions into Gnucash (free version of Quicken), and then figure out what I want to know from that. Transactions can be downloaded as a file from some institutions, but I don't know if Vanguard supplies a file. I do it by hand.
Re: VG Monthly Statements Are HORRIBLE!
Agreed, that the statements are horrible. Downloading PDFs seem to be a little but better format. Maybe that will better suit your needs?
- TomatoTomahto
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Re: VG Monthly Statements Are HORRIBLE!
Vanguard has statements? Wow, who knew?
I get the FI part but not the RE part of FIRE.
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Re: VG Monthly Statements Are HORRIBLE!
This topic has been locked as a non-actionable general complaint. See Personal Finance:
Update: See below. --admin LadyGeekNote that topics must be directly connected to your (or your friend's or family's) financial life. General comments or complaints about these topics will be locked or removed.
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Re: VG Monthly Statements Are HORRIBLE!
After further review, this thread is unlocked to continue the discussion. Please state your concerns in a civil, factual, manner.
This thread is now in the Investing - Theory, News & General forum (general discussion).
This thread is now in the Investing - Theory, News & General forum (general discussion).
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Re: VG Monthly Statements Are HORRIBLE!
I very much agree with the OP.
Particularly the quarterly mystery year to date. That should only happen on December 31, as an added information feature.
Particularly the quarterly mystery year to date. That should only happen on December 31, as an added information feature.
Re: VG Monthly Statements Are HORRIBLE!
It gets worse. The online balances and holdings will sometimes not add up to the total they list at the top ofvthe screen if you have done some recent trading.
- zaboomafoozarg
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Re: VG Monthly Statements Are HORRIBLE!
In almost a decade of Vanguard access, I don't think I've ever looked at a monthly statement.
I've got no need for monthly data when I can get live data.
Honestly I wish they'd stop notifying me about the statements.
I've got no need for monthly data when I can get live data.
Honestly I wish they'd stop notifying me about the statements.
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Re: VG Monthly Statements Are HORRIBLE!
Taylor Larimore (who hopefully will see this thread) had mentioned he retains only the last three years of statements. I noticed Vanguard just deleted a bunch of years on the website for us. Our once a year statement for mutual fund accounts has more information than we need. At one time I used to look at the statement in a lot of detail now I really don't bother.
Vanguard's website has a lot of information and more than a stay the course investor could want. I would try to become less reliant on the statements and simplify.
Vanguard's website has a lot of information and more than a stay the course investor could want. I would try to become less reliant on the statements and simplify.
John C. Bogle: “Simplicity is the master key to financial success."
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Re: VG Monthly Statements Are HORRIBLE!
Do you save and retain the statements?zaboomafoozarg wrote: ↑Wed Jan 15, 2020 7:46 pm In almost a decade of Vanguard access, I don't think I've ever looked at a monthly statement.
I've got no need for monthly data when I can get live data.
Honestly I wish they'd stop notifying me about the statements.
Last edited by abuss368 on Fri Jan 31, 2020 9:26 pm, edited 1 time in total.
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Re: VG Monthly Statements Are HORRIBLE!
I prefer my statements from Vanguard to those from Fidelity. Not so much because of their format but because of their timing. My Vanguard statements arrive at the end of each month. The ones from Fidelity seem to be sent on arbitrary and seemingly unpredictable dates--sometimes at the end of a month; sometimes not.
My latest from Fidelity was the end of November. Although I received "End of the Year" statements from Fidelity in 2018 & 2017 and will likely receive one for 2019 eventually, the latest December monthly statement was in 2016. I suppose it really doesn't matter whether I receive a December statement, but it seems odd to me not to receive one. The first statement I received in 2019 was for November 2018-January 2019. During 2018 some statements terminated during the middle of the month. These are not in taxable accounts and as long as I receive "End of Year" statements, I suppose it does not make a huge difference, but it sure seems strange to me.
My latest from Fidelity was the end of November. Although I received "End of the Year" statements from Fidelity in 2018 & 2017 and will likely receive one for 2019 eventually, the latest December monthly statement was in 2016. I suppose it really doesn't matter whether I receive a December statement, but it seems odd to me not to receive one. The first statement I received in 2019 was for November 2018-January 2019. During 2018 some statements terminated during the middle of the month. These are not in taxable accounts and as long as I receive "End of Year" statements, I suppose it does not make a huge difference, but it sure seems strange to me.
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Re: VG Monthly Statements Are HORRIBLE!
Are the Fidelity statements printed only when their is account activity?Doom&Gloom wrote: ↑Wed Jan 15, 2020 8:17 pm I prefer my statements from Vanguard to those from Fidelity. Not so much because of their format but because of their timing. My Vanguard statements arrive at the end of each month. The ones from Fidelity seem to be sent on arbitrary and seemingly unpredictable dates--sometimes at the end of a month; sometimes not.
My latest from Fidelity was the end of November. Although I received "End of the Year" statements from Fidelity in 2018 & 2017 and will likely receive one for 2019 eventually, the latest December monthly statement was in 2016. I suppose it really doesn't matter whether I receive a December statement, but it seems odd to me not to receive one. The first statement I received in 2019 was for November 2018-January 2019. During 2018 some statements terminated during the middle of the month. These are not in taxable accounts and as long as I receive "End of Year" statements, I suppose it does not make a huge difference, but it sure seems strange to me.
John C. Bogle: “Simplicity is the master key to financial success."
- unclescrooge
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Re: VG Monthly Statements Are HORRIBLE!
Yet another reason not to use Vanguard as a brokerage.
Why not use another company like Fidelity, or TD Ameritrade.
Why not use another company like Fidelity, or TD Ameritrade.
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Re: VG Monthly Statements Are HORRIBLE!
I saw an example of the brokerage statements and have no desire to change from our mutual fund accounts. The brokerage statements, while they say "year to date", only have the previous months activity. I had preferred the annual statement with the entire year of activity reported.unclescrooge wrote: ↑Wed Jan 15, 2020 8:33 pm Yet another reason not to use Vanguard as a brokerage.
Why not use another company like Fidelity, or TD Ameritrade.
Last edited by abuss368 on Fri Jan 31, 2020 9:27 pm, edited 1 time in total.
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Re: VG Monthly Statements Are HORRIBLE!
I receive online statements at the end of each month with Fidelity independent of activity. An email is sent notifying me of there availability the first day of the next month. All of my statements are consolidated into account types. I also receive an end of year statement and tax forms online about mid January.abuss368 wrote: ↑Wed Jan 15, 2020 8:30 pmAre the Fidelity statements printed only when their is account activity?Doom&Gloom wrote: ↑Wed Jan 15, 2020 8:17 pm I prefer my statements from Vanguard to those from Fidelity. Not so much because of their format but because of their timing. My Vanguard statements arrive at the end of each month. The ones from Fidelity seem to be sent on arbitrary and seemingly unpredictable dates--sometimes at the end of a month; sometimes not.
My latest from Fidelity was the end of November. Although I received "End of the Year" statements from Fidelity in 2018 & 2017 and will likely receive one for 2019 eventually, the latest December monthly statement was in 2016. I suppose it really doesn't matter whether I receive a December statement, but it seems odd to me not to receive one. The first statement I received in 2019 was for November 2018-January 2019. During 2018 some statements terminated during the middle of the month. These are not in taxable accounts and as long as I receive "End of Year" statements, I suppose it does not make a huge difference, but it sure seems strange to me.
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Re: VG Monthly Statements Are HORRIBLE!
We used to print all statements and placed in a binder. A decade later I questioned all the paper and not a use. I shredded everything and started to download and save to a USB thumb drive. Now I am questioning that!zaboomafoozarg wrote: ↑Wed Jan 15, 2020 8:37 pmNah I've never saved any of them. Maybe I should print them out once a year or something...
Last edited by abuss368 on Sun Jan 19, 2020 8:36 am, edited 1 time in total.
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Re: VG Monthly Statements Are HORRIBLE!
Vanguard hasn't reduced my transaction history. I've got entries going back to January 1993. I'm on the brokerage platform if it matters.abuss368 wrote: ↑Wed Jan 15, 2020 7:57 pm Taylor Larimore (who hopefully will see this thread) had mentioned he retains only the last three years of statements. I noticed Vanguard just deleted a bunch of years on the website for us. Our once a year statement for mutual fund accounts has more information than we need. At one time I used to look at the statement in a lot of detail now I really don't bother.
Off topic note: I see that I made a purchase of 500 Index Fund (VFINX) during January 1993 at a price of $40.95 per share. The current price is $303.77, an increase of about 642%. Thanks Jack!
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Re: VG Monthly Statements Are HORRIBLE!
Funny you say that. I was just talking with my wife about the S&P 500. I can only imagine if Total Stock goes from $81 to $300 in 25 years of compounding!
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Re: VG Monthly Statements Are HORRIBLE!
Vanguard recently deleted our old statements online. Believe only last 7 or 8 years available.xenial wrote: ↑Wed Jan 15, 2020 8:55 pmVanguard hasn't reduced my transaction history. I've got entries going back to January 1993. I'm on the brokerage platform if it matters.abuss368 wrote: ↑Wed Jan 15, 2020 7:57 pm Taylor Larimore (who hopefully will see this thread) had mentioned he retains only the last three years of statements. I noticed Vanguard just deleted a bunch of years on the website for us. Our once a year statement for mutual fund accounts has more information than we need. At one time I used to look at the statement in a lot of detail now I really don't bother.
Off topic note: I see that I made a purchase of 500 Index Fund (VFINX) during January 1993 at a price of $40.95 per share. The current price is $303.77, an increase of about 642%. Thanks Jack!
John C. Bogle: “Simplicity is the master key to financial success."
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Re: VG Monthly Statements Are HORRIBLE!
There seems to be no relationship to account activity. BTW these are electronic, not paper, statements.abuss368 wrote: ↑Wed Jan 15, 2020 8:30 pmAre the Fidelity statements printed only when their is account activity?Doom&Gloom wrote: ↑Wed Jan 15, 2020 8:17 pm I prefer my statements from Vanguard to those from Fidelity. Not so much because of their format but because of their timing. My Vanguard statements arrive at the end of each month. The ones from Fidelity seem to be sent on arbitrary and seemingly unpredictable dates--sometimes at the end of a month; sometimes not.
My latest from Fidelity was the end of November. Although I received "End of the Year" statements from Fidelity in 2018 & 2017 and will likely receive one for 2019 eventually, the latest December monthly statement was in 2016. I suppose it really doesn't matter whether I receive a December statement, but it seems odd to me not to receive one. The first statement I received in 2019 was for November 2018-January 2019. During 2018 some statements terminated during the middle of the month. These are not in taxable accounts and as long as I receive "End of Year" statements, I suppose it does not make a huge difference, but it sure seems strange to me.
Fidelity informed me a couple of years ago that I was on their mutual fund platform which was news to me. Since I haven't seen any posts on BH regarding Fidelity's MF platform, I assume that it was phased out quite a while back. Unlike Vanguard, they have not pestered me to "upgrade." The only reason I found out was that I had attempted to trade into one of their "Zero" funds when they were introduced but was unable to do so. I was told that those funds were ineligible for MF accounts and was given the option to upgrade at that time, which I declined. Perhaps the MF platform is the reason that my statements seem so disconnected from the calendar.
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Re: VG Monthly Statements Are HORRIBLE!
Interesting. Fidelity and Vanguard both have an old mutual fund platform. Appears brokerage is the future.Doom&Gloom wrote: ↑Wed Jan 15, 2020 9:52 pmThere seems to be no relationship to account activity. BTW these are electronic, not paper, statements.abuss368 wrote: ↑Wed Jan 15, 2020 8:30 pmAre the Fidelity statements printed only when their is account activity?Doom&Gloom wrote: ↑Wed Jan 15, 2020 8:17 pm I prefer my statements from Vanguard to those from Fidelity. Not so much because of their format but because of their timing. My Vanguard statements arrive at the end of each month. The ones from Fidelity seem to be sent on arbitrary and seemingly unpredictable dates--sometimes at the end of a month; sometimes not.
My latest from Fidelity was the end of November. Although I received "End of the Year" statements from Fidelity in 2018 & 2017 and will likely receive one for 2019 eventually, the latest December monthly statement was in 2016. I suppose it really doesn't matter whether I receive a December statement, but it seems odd to me not to receive one. The first statement I received in 2019 was for November 2018-January 2019. During 2018 some statements terminated during the middle of the month. These are not in taxable accounts and as long as I receive "End of Year" statements, I suppose it does not make a huge difference, but it sure seems strange to me.
Fidelity informed me a couple of years ago that I was on their mutual fund platform which was news to me. Since I haven't seen any posts on BH regarding Fidelity's MF platform, I assume that it was phased out quite a while back. Unlike Vanguard, they have not pestered me to "upgrade." The only reason I found out was that I had attempted to trade into one of their "Zero" funds when they were introduced but was unable to do so. I was told that those funds were ineligible for MF accounts and was given the option to upgrade at that time, which I declined. Perhaps the MF platform is the reason that my statements seem so disconnected from the calendar.
John C. Bogle: “Simplicity is the master key to financial success."
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Re: VG Monthly Statements Are HORRIBLE!
I retain our tax returns for three years and then shred. Our tax returns have the Vanguard tax forms which agree to the statements. So the statements don't add any value or other support. I am thinking I may only keep the most recent Vanguard account statement each year going forward. We are saving 10 statements a year and have 60 already. Over the rest of my career that will result in over 300 statements at the date of retirement. Then there is retirement! That is a lot.
If Vanguard had a cyber attack or lost information (which I imagine they have plenty backup systems) I would think the most recent statement would be the most important. What good would a statement from many years ago do with such old and outdated information (shares, price, etc)?
If Vanguard had a cyber attack or lost information (which I imagine they have plenty backup systems) I would think the most recent statement would be the most important. What good would a statement from many years ago do with such old and outdated information (shares, price, etc)?
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Re: VG Monthly Statements Are HORRIBLE!
You can create a report for individual or all accounts going back many years now anyway.abuss368 wrote: ↑Wed Jan 15, 2020 10:08 pm I retain our tax returns for three years and then shred. Our tax returns have the Vanguard tax forms which agree to the statements. So the statements don't add any value or other support. I am thinking I may only keep the most recent Vanguard account statement each year going forward. We are saving 10 statements a year and have 60 already. Over the rest of my career that will result in over 300 statements at the date of retirement. Then there is retirement! That is a lot.
If Vanguard had a cyber attack or lost information (which I imagine they have plenty backup systems) I would think the most recent statement would be the most important. What good would a statement from many years ago do with such old and outdated information (shares, price, etc)?
Are you receiving paper statements?
The online statements downloaded as a PDF (if you even feel this is necessary) to a folder on a computer (which you should back up) with ample hard drive space won't even get in the way by the time you have grandchildren.
"Success is going from failure to failure without loss of enthusiasm." Winston Churchill.
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Re: VG Monthly Statements Are HORRIBLE!
I don't know why you are "balancing" each account via the statement (which FYI never seemed too complex to me) when it is easier to view the "transaction history" for each individual holding online.LISD wrote: ↑Wed Jan 15, 2020 12:05 am My gripes (not all of them):
1) My last statement compares my current balance to LAST YEARS balance, not last month. I look at my statements to balance this month’s statement to last month’s statement – not last year. (Current Balance = Previous Balance + additions – subtractions). Four times a year they do this. It adds work to what should be a simple task. It’s not what I want, and is unnecessary (BTW – they can’t change this – I asked. You’d think it would be an easy change, but it’s not just difficult, it’s impossible).
2) Dollars added to my sweep account are negative? Huh? A sweep-in is NEGATIVE? Yup – that’s what the statement says. Something must have changed in Mathematics since I went to school (when dollars added was a positive).
3) On a particular account I have a sweep (settlement) fund, and some Mutual Funds. What I want to do is balance each Fund. For each fund I want to know the starting and ending balances, what was added and what was subtracted. Instead I get a chronological string of dozens of ‘activities’ for all funds. Again, adds time to what should be a simple task.
This isn’t a show stopper, but if they can make their statements less complex it would save me time and frustration. All I’m talking about is to make their statements similar to other companies – whose statements are logical and simple. But alas, this is an impossibility.
Anyone else not happy w/VG statements?
"Success is going from failure to failure without loss of enthusiasm." Winston Churchill.
Re: VG Monthly Statements Are HORRIBLE!
Have you reached out to VG to try and rectify the situation?LISD wrote: ↑Wed Jan 15, 2020 12:05 am My gripes (not all of them):
1) My last statement compares my current balance to LAST YEARS balance, not last month. I look at my statements to balance this month’s statement to last month’s statement – not last year. (Current Balance = Previous Balance + additions – subtractions). Four times a year they do this. It adds work to what should be a simple task. It’s not what I want, and is unnecessary (BTW – they can’t change this – I asked. You’d think it would be an easy change, but it’s not just difficult, it’s impossible).
2) Dollars added to my sweep account are negative? Huh? A sweep-in is NEGATIVE? Yup – that’s what the statement says. Something must have changed in Mathematics since I went to school (when dollars added was a positive).
3) On a particular account I have a sweep (settlement) fund, and some Mutual Funds. What I want to do is balance each Fund. For each fund I want to know the starting and ending balances, what was added and what was subtracted. Instead I get a chronological string of dozens of ‘activities’ for all funds. Again, adds time to what should be a simple task.
This isn’t a show stopper, but if they can make their statements less complex it would save me time and frustration. All I’m talking about is to make their statements similar to other companies – whose statements are logical and simple. But alas, this is an impossibility.
Anyone else not happy w/VG statements?
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Re: VG Monthly Statements Are HORRIBLE!
2) This is due to your not understanding what the ACCOUNT is. The account is your brokerage account. You don't have a sweep account, nor do you have a mutual fund account. You have a brokerage account, with holdings. One of those holdings is a sweep money market. So it's a negative amount to the brokerage account to go into the money market, then you see a positive balance in the money market fund. Then when you take that money out, it's a positive sweep out, because the money goes into the brokerage account.LISD wrote: ↑Wed Jan 15, 2020 12:05 am My gripes (not all of them):
1) My last statement compares my current balance to LAST YEARS balance, not last month. I look at my statements to balance this month’s statement to last month’s statement – not last year. (Current Balance = Previous Balance + additions – subtractions). Four times a year they do this. It adds work to what should be a simple task. It’s not what I want, and is unnecessary (BTW – they can’t change this – I asked. You’d think it would be an easy change, but it’s not just difficult, it’s impossible).
2) Dollars added to my sweep account are negative? Huh? A sweep-in is NEGATIVE? Yup – that’s what the statement says. Something must have changed in Mathematics since I went to school (when dollars added was a positive).
3) On a particular account I have a sweep (settlement) fund, and some Mutual Funds. What I want to do is balance each Fund. For each fund I want to know the starting and ending balances, what was added and what was subtracted. Instead I get a chronological string of dozens of ‘activities’ for all funds. Again, adds time to what should be a simple task.
This isn’t a show stopper, but if they can make their statements less complex it would save me time and frustration. All I’m talking about is to make their statements similar to other companies – whose statements are logical and simple. But alas, this is an impossibility.
Anyone else not happy w/VG statements?
3) As noted, you can run custom reports online that should meet your needs.
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Re: VG Monthly Statements Are HORRIBLE!
Vanguard didn't recently delete anything. Vanguard statements currently go back to December 2013, which is 6 years. After the January statements come out, if you go check, you'll find that December 2013 is no longer available.abuss368 wrote: ↑Wed Jan 15, 2020 9:09 pmVanguard recently deleted our old statements online. Believe only last 7 or 8 years available.xenial wrote: ↑Wed Jan 15, 2020 8:55 pmVanguard hasn't reduced my transaction history. I've got entries going back to January 1993. I'm on the brokerage platform if it matters.abuss368 wrote: ↑Wed Jan 15, 2020 7:57 pm Taylor Larimore (who hopefully will see this thread) had mentioned he retains only the last three years of statements. I noticed Vanguard just deleted a bunch of years on the website for us. Our once a year statement for mutual fund accounts has more information than we need. At one time I used to look at the statement in a lot of detail now I really don't bother.
Off topic note: I see that I made a purchase of 500 Index Fund (VFINX) during January 1993 at a price of $40.95 per share. The current price is $303.77, an increase of about 642%. Thanks Jack!
Responsible people review their statements on a regular basis - whether they are brokerage, credit card, banks, whatever. When you review an electronic statement, it's quite easy to save it to a hard drive or usb thumb drive. They take little "space". I scanned in my old statements from everything I had in file drawers, then shredded them. Currently, my Vanguard folder has 87MB of files that go back to 1996, i.e. 24 years of statements. A CD holds 700MB.abuss368 wrote: ↑Wed Jan 15, 2020 8:39 pmWe used to print all statements and placed in a binder. A decade later I questioned all the paper and not a use. I shredded everything and start to download and save to a USB thumb drive. Now I am questioning that!zaboomafoozarg wrote: ↑Wed Jan 15, 2020 8:37 pmNah I've never saved any of them. Maybe I should print them out once a year or something...
You should note that your thumb drive isn't considered good for long term storage, as compared to a DVDR. Then again, what's long term?
Last edited by RickBoglehead on Thu Jan 16, 2020 6:58 am, edited 1 time in total.
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Re: VG Monthly Statements Are HORRIBLE!
OP is exactly right.
We write a check for, say, $3,000.
Activity for the account shows a debit of $2,437 with a note that says something like “red alt account.”
No other account shows activity in an amount equal to the balance of the $3,000.
It doesn’t matter whether you get this rubbish in statements or online “in real time.”
We write a check for, say, $3,000.
Activity for the account shows a debit of $2,437 with a note that says something like “red alt account.”
No other account shows activity in an amount equal to the balance of the $3,000.
It doesn’t matter whether you get this rubbish in statements or online “in real time.”
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Re: VG Monthly Statements Are HORRIBLE!
Actually Vanguard did delete very old statements for us recently. I had read on the forum that they retained 6 years worth but we had back to 2008 or so when signing in. They must have eventually realized that and recently deleted them. We now have 6 years.RickBoglehead wrote: ↑Thu Jan 16, 2020 6:52 amVanguard didn't recently delete anything. Vanguard statements currently go back to December 2013, which is 6 years. After the January statements come out, if you go check, you'll find that December 2013 is no longer available.abuss368 wrote: ↑Wed Jan 15, 2020 9:09 pmVanguard recently deleted our old statements online. Believe only last 7 or 8 years available.xenial wrote: ↑Wed Jan 15, 2020 8:55 pmVanguard hasn't reduced my transaction history. I've got entries going back to January 1993. I'm on the brokerage platform if it matters.abuss368 wrote: ↑Wed Jan 15, 2020 7:57 pm Taylor Larimore (who hopefully will see this thread) had mentioned he retains only the last three years of statements. I noticed Vanguard just deleted a bunch of years on the website for us. Our once a year statement for mutual fund accounts has more information than we need. At one time I used to look at the statement in a lot of detail now I really don't bother.
Off topic note: I see that I made a purchase of 500 Index Fund (VFINX) during January 1993 at a price of $40.95 per share. The current price is $303.77, an increase of about 642%. Thanks Jack!
Responsible people review their statements on a regular basis - whether they are brokerage, credit card, banks, whatever. When you review an electronic statement, it's quite easy to save it to a hard drive or usb thumb drive. They take little "space". I scanned in my old statements from everything I had in file drawers, then shredded them. Currently, my Vanguard folder has 87MB of files that go back to 1996, i.e. 24 years of statements. A CD holds 700MB.abuss368 wrote: ↑Wed Jan 15, 2020 8:39 pmWe used to print all statements and placed in a binder. A decade later I questioned all the paper and not a use. I shredded everything and start to download and save to a USB thumb drive. Now I am questioning that!zaboomafoozarg wrote: ↑Wed Jan 15, 2020 8:37 pmNah I've never saved any of them. Maybe I should print them out once a year or something...
You should note that your thumb drive isn't considered good for long term storage, as compared to a DVDR. Then again, what's long term?
John C. Bogle: “Simplicity is the master key to financial success."
- Harry Livermore
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Re: VG Monthly Statements Are HORRIBLE!
Oooooh. Yes. Big pet peeve of mine. I keep each account in a different file. Taxable VTSAX in one. Taxable Star in another. Original IRA in one. Original Roth (from years ago) in another. Roth conversion in another. All taxable comes in one annual statement. All retirement comes in another. Different accounts printed on the same pages.celia wrote: ↑Wed Jan 15, 2020 12:23 am I hate that my year-end statements are printed back-to-back with different accounts on the same physical sheet of paper. This makes them impossible for me to file in a file cabinet where I use different folders for each account. On the other hand, if one person has 3 Roths, why are they mailed in separate envelopes?
I make a copy of the pages as needed and put them in the appropriate file. That's my solution. Easy but I have a little chuckle each time, thinking how it would be nice if they'd put different accounts on different sheets.
Fellow posters, I know paper is expensive and I should get things electronically. Ditto about the illogic of my filing system. It's just my method. But I would prefer to get one account per page...
I should clarify that this is the old MF platform , not brokerage.
Cheers
edited twice; once for clarification, once to be more polite
Last edited by Harry Livermore on Thu Jan 16, 2020 7:49 am, edited 2 times in total.
Re: VG Monthly Statements Are HORRIBLE!
I'd be fine if Vanguard charged a nominal fee such as $10 for a single sided paper statement. Maybe $30 if someone wants the heavyweight paper they used to use.
Warning: I am about 80% satisficer (accepting of good enough) and 20% maximizer
- Harry Livermore
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Re: VG Monthly Statements Are HORRIBLE!
I thought of another area where they could improve. Confirmations. I update our spreadsheet(s) as these come in.
VG used to send a confirmation that showed the dollar amount of the current month's purchases, share purchased as a result, and new share total as a result.
Last year (?) they announced "good news! A new and improved confirmation!" I'm not really sure what changes they made, other than to eliminate the "new share total" part. So now when I receive a confirmation, I need to log in and look up the total to make sure the spreadsheet matches (in the case of a taxable account where I'm keeping track of basis, lots, etc.) or what the total is (in the case of retirement accounts where I'm not keeping track of basis)
If they would go back to the old format (which fit on a page, not sure why they changed it) I would be thrilled.
Cheers
VG used to send a confirmation that showed the dollar amount of the current month's purchases, share purchased as a result, and new share total as a result.
Last year (?) they announced "good news! A new and improved confirmation!" I'm not really sure what changes they made, other than to eliminate the "new share total" part. So now when I receive a confirmation, I need to log in and look up the total to make sure the spreadsheet matches (in the case of a taxable account where I'm keeping track of basis, lots, etc.) or what the total is (in the case of retirement accounts where I'm not keeping track of basis)
If they would go back to the old format (which fit on a page, not sure why they changed it) I would be thrilled.
Cheers
Re: VG Monthly Statements Are HORRIBLE!
Still way better than Morgan Stanley. Curiously, mine are getting much more confusing in the same ways as I get more brokerage-based ETFs and the sweep account is now brokerage. Not clear to me if it's the clumsiness of having two types of accounts or something general about brokerage accounts (whatever that actually means). If I could go back to all mutual funds & only my stocks in the "brokerage" account circa 10 years ago I would gladly.
Distinctly recall a tumultuous thread from years ago about year-end statements changing to not starting different accounts on different pieces of paper, I had to restructure my looseleaf archives as a result. Since brokerage accounts do not even give a real year-end summary statement (it's just December, go look), doesn't matter to me much-- I gave up, store the monthly household statements as pdfs, and the paper went to the shredder.
Distinctly recall a tumultuous thread from years ago about year-end statements changing to not starting different accounts on different pieces of paper, I had to restructure my looseleaf archives as a result. Since brokerage accounts do not even give a real year-end summary statement (it's just December, go look), doesn't matter to me much-- I gave up, store the monthly household statements as pdfs, and the paper went to the shredder.
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Re: VG Monthly Statements Are HORRIBLE!
Is Vanguard able to offer one statement where husband and wife have all accounts on it? Taxable and IRAs?
John C. Bogle: “Simplicity is the master key to financial success."
Re: VG Monthly Statements Are HORRIBLE!
I download everything into Quicken and do any reporting from there. I don’t even look at the statement; I’ve already got all the detail long before the statement is produced. I must have agreed to something at Vanguard at some point because I no longer get any printed statements and I don’t miss them. I still get paper statements from a couple of other sources which I dutifully file after at best a cursory glance (as I already know what they say) and then eventually shred. So, I guess I don’t care what the statement looks like, just give me the data and I am good.
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Re: VG Monthly Statements Are HORRIBLE!
Vanguard has/had “Household Statements” which consolidate all/some accounts (believe 401k plans cannot be included) per a BH thread about a year ago.
When I called to request one for spouse and I (joint taxable account, my two IRAs with full agent access for spouse, spouse’s 401k), i was told by 3 reps it is no longer offered. As a “special request”, I was told I could get a “Consolidated Statement” of any accounts titled in the exact same way (my two IRAs). The statement is labeled “Household Statement”.
Fidelity told me they are able to provide a Household Statement for spouse and I (excludes retirement accounts). There is a form to request one.
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Re: VG Monthly Statements Are HORRIBLE!
Per the IRS there are some situations where they advise keeping returns for longer, if they apply to you:
https://www.irs.gov/businesses/small-bu ... ep-records
This writer makes a reasonable case that one should retain tax returns indefinitely:
https://www.forbes.com/sites/bobcarlson ... a496a54b36
I keep a paper or electronic copy of every tax return I’ve ever filed. There’s no reasonable downside I’m aware of and it saves me the effort of shredding or deleting any of them.
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Re: VG Monthly Statements Are HORRIBLE!
I am aware of the regs. Essentially all of our income is matched on W2 or 1099 and reported. Nothing unreported. So no 6 year impact or fraud! That simplicity has allowed us to keep to three years. I believe this is what Taylor does as well.ARoseByAnyOtherName wrote: ↑Thu Jan 16, 2020 8:33 amPer the IRS there are some situations where they advise keeping returns for longer, if they apply to you:
https://www.irs.gov/businesses/small-bu ... ep-records
This writer makes a reasonable case that one should retain tax returns indefinitely:
https://www.forbes.com/sites/bobcarlson ... a496a54b36
I keep a paper or electronic copy of every tax return I’ve ever filed. There’s no reasonable downside I’m aware of and it saves me the effort of shredding or deleting any of them.
John C. Bogle: “Simplicity is the master key to financial success."
Re: VG Monthly Statements Are HORRIBLE!
IRS guidance on record retention is in the wiki. See: Record retention
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Re: VG Monthly Statements Are HORRIBLE!
That makes sense, though why go through the additional effort of periodically shredding?abuss368 wrote: ↑Thu Jan 16, 2020 8:44 amI am aware of the regs. Essentially all of our income is matched on W2 or 1099 and reported. Nothing unreported. So no 6 year impact or fraud! That simplicity has allowed us to keep to three years. I believe this is what Taylor does as well.ARoseByAnyOtherName wrote: ↑Thu Jan 16, 2020 8:33 amPer the IRS there are some situations where they advise keeping returns for longer, if they apply to you:
https://www.irs.gov/businesses/small-bu ... ep-records
This writer makes a reasonable case that one should retain tax returns indefinitely:
https://www.forbes.com/sites/bobcarlson ... a496a54b36
I keep a paper or electronic copy of every tax return I’ve ever filed. There’s no reasonable downside I’m aware of and it saves me the effort of shredding or deleting any of them.
I keep a copy indefinitely and am trying to tease out any realistic downsides to doing so.
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Re: VG Monthly Statements Are HORRIBLE!
I continue to insist on mailed paper statements because of experiences by me and by others in trying to locate the assets of people after they pass. I don't want to have a long discussion about this--beyond saying don't be too quick to dismiss its usefulness, and do ask people you know who have had the sad task of doing it.
Anyway. I called Vanguard to complain because a side-effect of allowing them to "transition" my accounts to the "new platform" is that there is no longer any proper year-to-date statement. I've always kept the year-end statement and shredded the rest, but to my surprise and shock my December statement now includes only activity in the single month of December.
The Vanguard rep basically said 1) he had no answer for me, and 2) he had been getting a lot of similar complaints and would pass mine along to management.
I get the distinct impression that Vanguard's transition to the new platform has not been going very well... and that Vanguard is perfectly aware of it.
Anyway. I called Vanguard to complain because a side-effect of allowing them to "transition" my accounts to the "new platform" is that there is no longer any proper year-to-date statement. I've always kept the year-end statement and shredded the rest, but to my surprise and shock my December statement now includes only activity in the single month of December.
The Vanguard rep basically said 1) he had no answer for me, and 2) he had been getting a lot of similar complaints and would pass mine along to management.
I get the distinct impression that Vanguard's transition to the new platform has not been going very well... and that Vanguard is perfectly aware of it.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
Re: VG Monthly Statements Are HORRIBLE!
I’ve gone paperless at Fidelity. I download statements maybe 5 days after the end of month.Doom&Gloom wrote: ↑Wed Jan 15, 2020 8:17 pm I prefer my statements from Vanguard to those from Fidelity. Not so much because of their format but because of their timing. My Vanguard statements arrive at the end of each month. The ones from Fidelity seem to be sent on arbitrary and seemingly unpredictable dates--sometimes at the end of a month; sometimes not.
My latest from Fidelity was the end of November. Although I received "End of the Year" statements from Fidelity in 2018 & 2017 and will likely receive one for 2019 eventually, the latest December monthly statement was in 2016. I suppose it really doesn't matter whether I receive a December statement, but it seems odd to me not to receive one. The first statement I received in 2019 was for November 2018-January 2019. During 2018 some statements terminated during the middle of the month. These are not in taxable accounts and as long as I receive "End of Year" statements, I suppose it does not make a huge difference, but it sure seems strange to me.
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Re: VG Monthly Statements Are HORRIBLE!
Valid point. I would think the most recent statement would work for heirs. Older ones would be stale.nisiprius wrote: ↑Thu Jan 16, 2020 8:52 am I continue to insist on mailed paper statements because of experiences by me and by others in trying to locate the assets of people after they pass. I don't want to have a long discussion about this--beyond saying don't be too quick to dismiss its usefulness, and do ask people you know who have had the sad task of doing it.
Anyway. I called Vanguard to complain because a side-effect of allowing them to "transition" my accounts to the "new platform" is that there is no longer any proper year-to-date statement. I've always kept the year-end statement and shredded the rest, but to my surprise and shock my December statement now includes only activity in the single month of December.
The Vanguard rep basically said 1) he had no answer for me, and 2) he had been getting a lot of similar complaints and would pass mine along to management.
I get the distinct impression that Vanguard's transition to the new platform has not been going very well... and that Vanguard is perfectly aware of it.
John C. Bogle: “Simplicity is the master key to financial success."
Re: VG Monthly Statements Are HORRIBLE!
Vanguard now has a new custom report tool that allows you to generate a report for a varying time period. This is available only for the brokerage accounts. Really nice to just be able to download all year activity in one statement for each account. You can select ROTH, taxable, tIRA in the pulldown menu and print(save pdf) statement for each.
Re: VG Monthly Statements Are HORRIBLE!
I have an "old style" mutual fund account with a separate brokerage account. The YTD statement shows all the transactions for the mutual funds, but only the December transactions for the brokerage account. So, it seems that the problem lies in Vanguard's methods for brokerage accounts, independently of whether it is an "upgraded" account or the "old style" mutual fund account.nisiprius wrote: ↑Thu Jan 16, 2020 8:52 am Anyway. I called Vanguard to complain because a side-effect of allowing them to "transition" my accounts to the "new platform" is that there is no longer any proper year-to-date statement. I've always kept the year-end statement and shredded the rest, but to my surprise and shock my December statement now includes only activity in the single month of December.
The Vanguard rep basically said 1) he had no answer for me, and 2) he had been getting a lot of similar complaints and would pass mine along to management.
I get the distinct impression that Vanguard's transition to the new platform has not been going very well... and that Vanguard is perfectly aware of it.
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Re: VG Monthly Statements Are HORRIBLE!
I called Vanguard this morning and received this response. "We used to offer it, and have a lot of requests for it, but no longer can provide.".HomeStretch wrote: ↑Thu Jan 16, 2020 8:10 amVanguard has/had “Household Statements” which consolidate all/some accounts (believe 401k plans cannot be included) per a BH thread about a year ago.
When I called to request one for spouse and I (joint taxable account, my two IRAs with full agent access for spouse, spouse’s 401k), i was told by 3 reps it is no longer offered. As a “special request”, I was told I could get a “Consolidated Statement” of any accounts titled in the exact same way (my two IRAs). The statement is labeled “Household Statement”.
Fidelity told me they are able to provide a Household Statement for spouse and I (excludes retirement accounts). There is a form to request one.
Mind numbing. I simply wanted one statement with all our accounts.
John C. Bogle: “Simplicity is the master key to financial success."