How do you 7 figure guys organize multiple accounts?

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NoHeat
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Re: How do you 7 figure guys organize multiple accounts?

Post by NoHeat » Tue Aug 28, 2018 7:56 pm

Quicken for 10 accounts.

I’m cheap, so instead of paying for a recent version of Quicken, I use an old version. I download quote data into a csv file using yahoo finance. I then clean up the csv file in LibreOffice (again, I’m cheap) by deleting columns beyond the first two. Finally, I import into Quicken. This all takes about 30 sec altogether.

I would never give my financial account logins to Quicken or anybody else,

JBTX
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Re: How do you 7 figure guys organize multiple accounts?

Post by JBTX » Tue Aug 28, 2018 8:31 pm

damjam wrote:
Tue Aug 28, 2018 11:52 am
JBTX wrote:
Tue Aug 28, 2018 11:28 am
.
.
.

As to the risks of storing passwords on quicken servers, obviously the risk is greater than zero. But I figure the greatest risk is with your investment and bank accounts. With credit cards, while you may have a major hassle, ultimately you have protection (and alerts would hopefully tip you off faster). Only only use a couple of investment companies, and both require 2FA, so even armed with ID and PW they still would need a way to get around the 2FA. Nothing is impossible, but at this point we are talking about a pretty remote risk.
I'm having trouble parsing what you are saying.
So are you saying that storing passwords on Quicken servers is worth the risk?
I am saying using one step update (which requires id's and passwords running through quicken servers-or however it works) allows me to easily update approximately 50 different accounts one or more times a week fairly easily. Frequent updates allow me to track these accounts quickly and easily. Resulting in time saving and better visibility to all transactions.
If you have 2FA engaged on your financial accounts how would Quicken be able to log in to aggregate?
The quicken one step update appears to bypass 2fa.

bikechuck
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Re: How do you 7 figure guys organize multiple accounts?

Post by bikechuck » Tue Aug 28, 2018 8:57 pm

KlangFool wrote:
Tue Aug 28, 2018 11:43 am
bikechuck wrote:
Tue Aug 28, 2018 11:10 am
KlangFool wrote:
Tue Aug 28, 2018 9:08 am
Hulk,

I have one brokerage account and one bank.

<<Would love to simplify but not so easy>>

It is easier than dealing with multiple accounts. Consolidate...

KlangFool
Too risky for me in this age of cyber attacks and occasional systems failures.
bikechuck,

1) I work in the IT/Network for 30+ years. I assume that the system will fail. By the way, please do not assume that having multiple accounts will be more reliable. I would rather rely on Fidelity, Vanguard, and one large bank. My backup plan would be cold hard cash and gold jewelry.

<<Too risky for me in this age of cyber attacks and occasional systems failures.>>

2) A better plan would be to assume that someone will steal your login and what harm that they can do to you. I pre-plan ahead of time and include multiple safeguards to detect the break-in when it happened. And, when they had stolen my login, they cannot get the money out easily. It is harder to do that with multiple accounts.

KlangFool
There is a sweet spot somewhere. For me it is probably 3-5. I have been consolidating a bit in retirement but I will never go to one and only one.

Finridge
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Re: How do you 7 figure guys organize multiple accounts?

Post by Finridge » Tue Aug 28, 2018 10:04 pm

KlangFool wrote:
Tue Aug 28, 2018 6:54 pm
Finridge wrote:
Tue Aug 28, 2018 6:37 pm
KlangFool wrote:
Tue Aug 28, 2018 11:43 am
I pre-plan ahead of time and include multiple safeguards to detect the break-in when it happened. And, when they had stolen my login, they cannot get the money out easily. I

KlangFool
Please do share! What safeguards would you recommend we put in place.
Finridge,

Some simple example:

1) No debit card for your bank account.

2) Put an explicit block/instruction that no debit card should be issued from the bank account.

3) Put in an alert on your bank account when the balance drops to a certain level.

4) Do not allow overdraft on your bank account.

5) Find out exactly how someone can get money out of your Vanguard / Fidelity account.

6) Will you get an alert if someone links a new bank account to your Vanguard/Fidelity account?

7) Have 2 separate checking accounts. One for petty cash that you need to write a small amount on. Another for major bill payment.

8) Have 2 credit cards.

A) one for recurring bill payment. Do not use this card for anything else.

B) one for all other purchases. If lost or suspected fraud, you can get a new card easily and do not have to change your recurring bill payment.

KlangFool
Thanks! That's quite the collection of good ideas. I'm going to implement these.

LovingLife
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Re: How do you 7 figure guys organize multiple accounts?

Post by LovingLife » Tue Aug 28, 2018 10:07 pm

Hulk wrote:
Tue Aug 28, 2018 8:40 am
Dear wise bogleheads,

What are your thoughts on the security of financial tools to organize your various accounts, such as Personal Capital or Mint? Our money is spread in so many places now (His and her 401ks, old 401ks, IRAs, HSAs, checking, MM, brokerage etc) it is a total pain to log into 10 different accounts every month or so to track it. We are getting to the point now where new contributions are not sufficient to re-adjust back toward our goal AA and it seems like Personal Capital or some similar site would be very useful. However, I am quite nervous of some kind of security breach by having access to all this information and, I guess, passwords. What do you guys do?

Thanks!
+1 on consolidating 401k’s into a single IRA.

Many brokerages / online banks allow you to manually enter or automatically pull data from your other accounts for “free” to easily tracks your totals, but that’s not an arrangement I’d enjoy.

I keep an old fashioned spreadsheet. I update it only once a month, but log into my accounts almost every day to visually check if balances have moved meaningfully. I can log into most of those accounts with my fingerprint on the apps on my phone, so I don’t need to type passwords every time (passwords have to be manually typed in to conduct any transactions though). I hold individual stocks, which is the most volatile portion of my holdings, but I still don’t find a need to update my spreadsheet too frequently since all my individual stocks are held in a single brokerage account, which allows me to study them there as a group. I also hold meaningful illiquid securities which I update no more often than four times a year.

KlangFool
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Re: How do you 7 figure guys organize multiple accounts?

Post by KlangFool » Tue Aug 28, 2018 10:09 pm

Finridge wrote:
Tue Aug 28, 2018 10:04 pm
KlangFool wrote:
Tue Aug 28, 2018 6:54 pm
Finridge wrote:
Tue Aug 28, 2018 6:37 pm
KlangFool wrote:
Tue Aug 28, 2018 11:43 am
I pre-plan ahead of time and include multiple safeguards to detect the break-in when it happened. And, when they had stolen my login, they cannot get the money out easily. I

KlangFool
Please do share! What safeguards would you recommend we put in place.
Finridge,

Some simple example:

1) No debit card for your bank account.

2) Put an explicit block/instruction that no debit card should be issued from the bank account.

3) Put in an alert on your bank account when the balance drops to a certain level.

4) Do not allow overdraft on your bank account.

5) Find out exactly how someone can get money out of your Vanguard / Fidelity account.

6) Will you get an alert if someone links a new bank account to your Vanguard/Fidelity account?

7) Have 2 separate checking accounts. One for petty cash that you need to write a small amount on. Another for major bill payment.

8) Have 2 credit cards.

A) one for recurring bill payment. Do not use this card for anything else.

B) one for all other purchases. If lost or suspected fraud, you can get a new card easily and do not have to change your recurring bill payment.

KlangFool
Thanks! That's quite the collection of good ideas. I'm going to implement these.
Finridge,

Basically, instead of assuming that someone cannot steal your login, do the reverse instead.

If someone steals your login,

A) How could you detect it?

B) How do you limit the damage?

C) What is your plan to deal with it?

KlangFool

LovingLife
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Joined: Mon Apr 23, 2018 10:31 pm

Re: How do you 7 figure guys organize multiple accounts?

Post by LovingLife » Tue Aug 28, 2018 10:22 pm

Horsefly wrote:
Tue Aug 28, 2018 6:57 pm
It's really interesting to read the posts in this thread. It sounds like I am very much in the minority.

Although we are well above the 7 figure threshold, I have all of my investments (taxable, two Roth IRAs, two tIRAs, an Annuity, and an HSA) at Fidelity. I do all my banking through Ally. I do have quite a few credit cards (7).

I don't do anything to consolidate all the info. I don't really see the need. I'll admit that I log in most days to Fidelity, and also to Ally. Mostly just to reassure myself that there are no surprises. I have recurring calendar events set up for when all the credit card statements are released, and calendar reminders to pay each bill every month. One credit card is automatically paid from our Fidelity taxable account, and all the others I pay electronically through Ally.

I used to use Quicken to keep track of things, but between the quirks and costs of Quicken and the amount labor I was expending, I just stopped. I don't see any point in it.

I know roughly when our credit card balances are higher than normal, and plan on some of the higher expenses associated with big vacations. Aside from that, I just take money out of Fidelity when I need it, and pay bills before they are due. I keep a simple spreadsheet of all of the withdrawals, so I know at the end of the year (and periodically through the year) how much we've burned. I can then make sure we stay under the 4% threshold.

For the life of me, I don't know what I would do with the info if I meticulously spent the time to put all of our investments, payments, and credit card info into one place.
I print out exactly such a file I maintain (in Excel) and put it in my “what you need to know if I pass” folder in my safe for my kids’ trustees to be able to easily access without having to do an inordinate amount of financial sleuthing. Each month, I shred the old file and replace it with the new one.

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SevenBridgesRoad
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Re: How do you 7 figure guys organize multiple accounts?

Post by SevenBridgesRoad » Tue Aug 28, 2018 11:43 pm

Just one more data point, not that much different.

Well into a seven figure portfolio.

In my current year leading up to retirement (30 days from now, not early by most measures here, at age 62) mostly have consolidated at Vanguard, moving towards just four funds (the usual suspects, yes including international). Still recovering from a Fidelity advisor experience into uber-complexity and have many individual stocks to gradually off load. Yikes.

Consolidating two employer (current, one previous) HSA benefits custodians down to one for my post-retiemement life: Lively.com. About 50K here. Pretty straight forward process.

One checking account at major credit union.

At the end of the year will be at Vanguard, Lively and the credit union. This is pretty simple to track.
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damjam
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Re: How do you 7 figure guys organize multiple accounts?

Post by damjam » Wed Aug 29, 2018 4:46 am

KlangFool wrote:
Tue Aug 28, 2018 10:09 pm
Finridge wrote:
Tue Aug 28, 2018 10:04 pm
KlangFool wrote:
Tue Aug 28, 2018 6:54 pm
Finridge wrote:
Tue Aug 28, 2018 6:37 pm
KlangFool wrote:
Tue Aug 28, 2018 11:43 am
I pre-plan ahead of time and include multiple safeguards to detect the break-in when it happened. And, when they had stolen my login, they cannot get the money out easily. I

KlangFool
Please do share! What safeguards would you recommend we put in place.
Finridge,

Some simple example:

1) No debit card for your bank account.

2) Put an explicit block/instruction that no debit card should be issued from the bank account.

3) Put in an alert on your bank account when the balance drops to a certain level.

4) Do not allow overdraft on your bank account.

5) Find out exactly how someone can get money out of your Vanguard / Fidelity account.

6) Will you get an alert if someone links a new bank account to your Vanguard/Fidelity account?

7) Have 2 separate checking accounts. One for petty cash that you need to write a small amount on. Another for major bill payment.

8) Have 2 credit cards.

A) one for recurring bill payment. Do not use this card for anything else.

B) one for all other purchases. If lost or suspected fraud, you can get a new card easily and do not have to change your recurring bill payment.

KlangFool
Thanks! That's quite the collection of good ideas. I'm going to implement these.
Finridge,

Basically, instead of assuming that someone cannot steal your login, do the reverse instead.

If someone steals your login,

A) How could you detect it?

B) How do you limit the damage?

C) What is your plan to deal with it?

KlangFool
Yes
Thank you
When talking about online security this basic premise is often ignored or missed.
I failed to state it clearly myself.
Although I avoid giving out my login info that doesn't mean I think I'm bulletproof.

Each new site/service needs to be evaluated closely, but more importantly what is your back up plan for when the inevitable happens?

For me skipping an aggregator just relieves me of one more site/service to evaluate. But to be fair, I don't need the service. I have the time, motivation and ability to follow my accounts. If I lacked any one of those I would give such services more consideration.

MikeG62
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Re: How do you 7 figure guys organize multiple accounts?

Post by MikeG62 » Wed Aug 29, 2018 7:10 am

Hulk wrote:
Tue Aug 28, 2018 8:40 am
Dear wise bogleheads,

What are your thoughts on the security of financial tools to organize your various accounts, such as Personal Capital or Mint? Our money is spread in so many places now (His and her 401ks, old 401ks, IRAs, HSAs, checking, MM, brokerage etc) it is a total pain to log into 10 different accounts every month or so to track it. We are getting to the point now where new contributions are not sufficient to re-adjust back toward our goal AA and it seems like Personal Capital or some similar site would be very useful. However, I am quite nervous of some kind of security breach by having access to all this information and, I guess, passwords. What do you guys do?

Thanks!
I use Fidelity's FullView product to track/aggregate all of my accounts. It has worked very well for that purpose, up until the recent upgrade. I expect they will sort the issues with it in coming weeks/month. I have used that product for as long as I can remember (well over a decade I believe).

Yes I have entered the log in information for the other financial institutions into their product. I suppose I am taking some risk, but I am not sure I'd avoid taking some risk with any account aggregator. I do use a Password manager, but am not sure that lessens the risk of a security breach at Fidelity. I have alerts set up with all my financial institutions. So I would be notified if someone tried to move any money - and most certainly would have to verify the addition of any new financial accounts (such as where someone was trying to electronically transfer funds from my account to their account). That feels like a decent mitigating control to me. Also, I believe that if there were a security breach at Fidelity's account aggregator tool, that information would become public knowledge quickly and it is highly likely it would happen to someone else before it happened to me (giving me time to change my passwords).

I guess you could avoid using an aggregator if you are that worried. I am not willing to give up the convenience and benefits of using one for what I think is a very, very low risk.
Real Knowledge Comes Only From Experience

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goodenyou
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Re: How do you 7 figure guys organize multiple accounts?

Post by goodenyou » Wed Aug 29, 2018 7:21 am

Vanguard Portfolio Analyzer. Manual input from outside accounts, but overall pretty easy. Gives a quick snapshot of total portfolio asset allocation and approximate net worth. It’s good enough.
"Ignorance more frequently begets confidence than does knowledge" | "The best years you have left are the ones you have right now"

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goodenyou
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Re: How do you 7 figure guys organize multiple accounts?

Post by goodenyou » Wed Aug 29, 2018 7:21 am

Deleted duplicate.
"Ignorance more frequently begets confidence than does knowledge" | "The best years you have left are the ones you have right now"

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damjam
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Re: How do you 7 figure guys organize multiple accounts?

Post by damjam » Wed Aug 29, 2018 8:25 am

MikeG62 wrote:
Wed Aug 29, 2018 7:10 am
Hulk wrote:
Tue Aug 28, 2018 8:40 am
Dear wise bogleheads,

What are your thoughts on the security of financial tools to organize your various accounts, such as Personal Capital or Mint? Our money is spread in so many places now (His and her 401ks, old 401ks, IRAs, HSAs, checking, MM, brokerage etc) it is a total pain to log into 10 different accounts every month or so to track it. We are getting to the point now where new contributions are not sufficient to re-adjust back toward our goal AA and it seems like Personal Capital or some similar site would be very useful. However, I am quite nervous of some kind of security breach by having access to all this information and, I guess, passwords. What do you guys do?

Thanks!
I use Fidelity's FullView product to track/aggregate all of my accounts. It has worked very well for that purpose, up until the recent upgrade. I expect they will sort the issues with it in coming weeks/month. I have used that product for as long as I can remember (well over a decade I believe).

Yes I have entered the log in information for the other financial institutions into their product. I suppose I am taking some risk, but I am not sure I'd avoid taking some risk with any account aggregator. I do use a Password manager, but am not sure that lessens the risk of a security breach at Fidelity. I have alerts set up with all my financial institutions. So I would be notified if someone tried to move any money - and most certainly would have to verify the addition of any new financial accounts (such as where someone was trying to electronically transfer funds from my account to their account). That feels like a decent mitigating control to me. Also, I believe that if there were a security breach at Fidelity's account aggregator tool, that information would become public knowledge quickly and it is highly likely it would happen to someone else before it happened to me (giving me time to change my passwords).

I guess you could avoid using an aggregator if you are that worried. I am not willing to give up the convenience and benefits of using one for what I think is a very, very low risk.
The sentence you wrote may simply be a case of stream of consciousness gone a little awry. However, it makes me wonder if everyone understands the purpose of a Password Manager.

I use a Password Manager because it allows me to have randomly generated passwords that are the maximum length the website/application will accept. The manager keeps them in a convenient to use app that I can easily access, so I don't have to memorize over 100 passwords. This also allows me to have different passwords for each site/app thus eliminating the risk that one learned password will allow access to multiple sites. My manager also allows me to store my wacky answers to challenge questions. I never give straight forward answers to those questions - too easy to find those answers somewhere on the web.

There may be other reasons for using a password manager.

In no way is a password manager the be all and end all in online security. It is one tool. Account alerts, as you mentioned, are another. 2FA is another.

Of course similarly to aggregators password managers themselves are a small risk, because one password opens the door to all of your other passwords. That is why I never write this password down, never share it, make it really long and complicated, and use 2FA.

YMMV :)

Edit to add: Actually I do have my password manager password written down and put it in my safe deposit box. Just in case a different kind of calamity other than an internet security breach should befall me.

MikeG62
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Re: How do you 7 figure guys organize multiple accounts?

Post by MikeG62 » Wed Aug 29, 2018 8:34 am

damjam wrote:
Wed Aug 29, 2018 8:25 am

The sentence you wrote may simply be a case of stream of consciousness gone a little awry. However, it makes me wonder if everyone understands the purpose of a Password Manager.
Yes, stream of consciousness gone a little awry. The Password manager will not help with security at the aggregator. It's good security for other reasons (as you mentioned).

Sorry for creating confusion.
Real Knowledge Comes Only From Experience

JW-Retired
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Re: How do you 7 figure guys organize multiple accounts?

Post by JW-Retired » Wed Aug 29, 2018 8:37 am

letsgobobby wrote:
Tue Aug 28, 2018 11:46 am
Asset allocation doesn’t shift much with a 60/40 allocation, so there really isn’t much to do at all.
60/40 and not much to do is certainly true for me as well!

We have accounts at Fido, Vanguard, and my 401k. I quit using Quicken or any aggregator many years back for security. Now I just look at the 3 accounts online every couple of months, and transfer a dozen or so numbers by hand to a simple DIY spreadsheet. Spend maybe a half hour on it each time. Finding there has been much of a change is very rare.

It is fun to see when it shows our equities AA is creeping slowly toward that upper band edge. It was only about 1% off at the last check. Maybe next time I'll even need to tweak something. :D
JW
Last edited by JW-Retired on Wed Aug 29, 2018 8:38 am, edited 1 time in total.
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Pigeye Brewster
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Re: How do you 7 figure guys organize multiple accounts?

Post by Pigeye Brewster » Wed Aug 29, 2018 8:38 am

Microsoft Money Sunset Edition for tracking transactions and Excel spreadsheet for tracking asset allocation. Multiple accounts include taxable, his/her IRAs, his/her Roth IRAs, his 401k, her 403b, his HSA.

Hulk
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Re: How do you 7 figure guys organize multiple accounts?

Post by Hulk » Wed Aug 29, 2018 9:09 am

inbox788 wrote:
Tue Aug 28, 2018 3:56 pm
Hulk wrote:
Tue Aug 28, 2018 9:01 am
I attempt a 4 fund portfolio across 5 brokerage companies and 3 banks. Would love to simplify but not so easy
Why do you NEED 5 brokerages and 3 banks? Would it be possible to give up one of the brokerage accounts and/or one of the bank accounts?

I've contemplated using the Fidelity or Vanguard cash accounts instead of a bank account, and may do so in the future in effort to reduce the number of overall accounts. Supposedly, Schwab is the best for banking among the 3, but that would entail I move a brokerage and bank account there, and that's also an option.

Fewer accounts help more than fewer institutions. Citi my worst so far. Every account is silo'd so it might as well be at another institution. I have a checking, savings, credit card and brokerage account there, but aside from checking/savings being integrated, the others might as well be at other banks.
Fidelity: old 401(k), current 401(a), 403(b), i401(k), 529
Vanguard: his and her TIRA and RIRAs, taxable
Schwab: inherited taxable. Fairly “stuck” for tax and family reasons
TDA: HSA
Optum bank: HSA
TIAA-CREF: 403(b)
Vanguard: different state’s 529
Ally Bank: Emergency fund
Bank 1: had for years
Bank 2: mortgage here, auto deposit here for rate reduction

Currently 11 log ins
I could dump bank 1 I guess but have drug my feet because I have been with them for years, have been happy with them and have all my links set up with them.
I could rollover old HSA to new one but just haven’t yet and it’s a small portion
I could dump Vanguard and do our IRAs and taxable at Fidelity but, being an aspiring boglehead, I wanted SOMETHING at Vanguard.

That would still leave me with 8 log ins

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damjam
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Re: How do you 7 figure guys organize multiple accounts?

Post by damjam » Wed Aug 29, 2018 9:18 am

Hulk wrote:
Wed Aug 29, 2018 9:09 am
inbox788 wrote:
Tue Aug 28, 2018 3:56 pm
Hulk wrote:
Tue Aug 28, 2018 9:01 am
I attempt a 4 fund portfolio across 5 brokerage companies and 3 banks. Would love to simplify but not so easy
Why do you NEED 5 brokerages and 3 banks? Would it be possible to give up one of the brokerage accounts and/or one of the bank accounts?

I've contemplated using the Fidelity or Vanguard cash accounts instead of a bank account, and may do so in the future in effort to reduce the number of overall accounts. Supposedly, Schwab is the best for banking among the 3, but that would entail I move a brokerage and bank account there, and that's also an option.

Fewer accounts help more than fewer institutions. Citi my worst so far. Every account is silo'd so it might as well be at another institution. I have a checking, savings, credit card and brokerage account there, but aside from checking/savings being integrated, the others might as well be at other banks.
Fidelity: old 401(k), current 401(a), 403(b), i401(k), 529
Vanguard: his and her TIRA and RIRAs, taxable
Schwab: inherited taxable. Fairly “stuck” for tax and family reasons
TDA: HSA
Optum bank: HSA
TIAA-CREF: 403(b)
Vanguard: different state’s 529
Ally Bank: Emergency fund
Bank 1: had for years
Bank 2: mortgage here, auto deposit here for rate reduction

Currently 11 log ins
I could dump bank 1 I guess but have drug my feet because I have been with them for years, have been happy with them and have all my links set up with them.
I could rollover old HSA to new one but just haven’t yet and it’s a small portion
I could dump Vanguard and do our IRAs and taxable at Fidelity but, being an aspiring boglehead, I wanted SOMETHING at Vanguard.

That would still leave me with 8 log ins
I'll still let you into the club even if you don't have accounts at Vanguard ;-)

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TomatoTomahto
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Re: How do you 7 figure guys organize multiple accounts?

Post by TomatoTomahto » Wed Aug 29, 2018 9:58 am

Edit to add: Actually I do have my password manager password written down and put it in my safe deposit box. Just in case a different kind of calamity other than an internet security breach should befall me.
I’m glad you added that. I put mine in an envelope labeled “Open if TomatoTomahto is dead or far enough gone that you need to take over finances.”

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BigFoot48
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Re: How do you 7 figure guys organize multiple accounts?

Post by BigFoot48 » Wed Aug 29, 2018 10:34 am

Hulk wrote:
Tue Aug 28, 2018 9:01 am
I attempt a 4 fund portfolio across 5 brokerage companies and 3 banks. Would love to simplify but not so easy
I have everything with Schwab. Just take that first step and move everything possible to a single brokerage and enjoy the ease of access.
Last edited by BigFoot48 on Wed Aug 29, 2018 3:06 pm, edited 1 time in total.
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J295
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Re: How do you 7 figure guys organize multiple accounts?

Post by J295 » Wed Aug 29, 2018 10:37 am

spreadsheet.
update every month or two.
re-allocate on birthday and/or end of year.

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GoldStar
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Re: How do you 7 figure guys organize multiple accounts?

Post by GoldStar » Wed Aug 29, 2018 10:46 am

Hulk wrote:
Tue Aug 28, 2018 8:56 am
edge wrote:
Tue Aug 28, 2018 8:43 am
I use a spreadsheet.
Seriously? Thats such a pain. 5 different brokerage companies (with 7 different log ins between 2 spouses) and 3 banks. Blah :oops:
I used to use Quicken (used it for 20 years); then switched to mint for a while; now I use a spreadsheet.
After the Equifax debacle I figure its only a matter of time before some unknown vulnerability is found in the likes of Mint/Personal-Capital/Quicken and I don't want to be one of the victims when that happens.

I update my spreadsheet monthly - it takes me 15 minutes to pull information from 4 different brokerages and 3 different banks.
If you want to go this route - you should be able to find a way to collapse accounts and investments to make it easier.
For example: We have no "old" 401ks (collapsed them all); We have only a single joint taxable brokerage account.
Also, for example: In each 401K, brokerage, IRA - we have only a couple of holdings in each. Back when I wasn't a "boglehead" and had many individual stocks and various sector-based funds it would have been more difficult.
We have 3 banks (primary and 2 High-Yield Savings) and could probably collapse them down as well - considering doing so sometime soon.

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Meg77
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Re: How do you 7 figure guys organize multiple accounts?

Post by Meg77 » Wed Aug 29, 2018 11:47 am

I'm surprised at all the security fears with regard to Mint and Personal Capital. First of all, their security and data encryption rivals most banks' (and I say that as a banker working at a relatively small institution).

See this blog post for more details though. https://wallethacks.com/personal-capital-security-safe/ A quote below is from the CTO of Personal Capital who has over 20 years of experience, including a stint as a System Architect at RSA Security and running his own full-lifecycle software engineering company. He holds an M.S. in Computer Science from Stanford University. Also, Personal Capital's Founder Bill Harris co-founded PassMark Security, a company that built online authentication systems used by most major banks, and Fritz Robbins was with that company as well.
Our point of view is that viewing your banking and brokerage accounts via Personal Capital is *safer* than going directly to the banking/brokerage site from your browser.

1. Your credentials are stored in a secure data center versus always being transmitted via the user's (generally less-secure) browser
2. The connection is read-only and no money can be transferred out of your banking/brokerage account via Personal Capital, and your banking/brokerage passwords are never returned to your browser from our servers.
3. Our service gives you notification of all banking/brokerage transactions (via email or mobile push notifications) that make it easy for you to monitor you banking/brokerage accounts for fraud, all in one place!
But in any event, there is usually very little that a hacker can do with the information even if they WERE to somehow get your account information (consider that your account number, name, address, bank name and bank routing info are stamped on all checks that float around). Even if somebody were to hack into Mint or PC, somehow access your login info - and manage to unencrypt it - and then successfully log into your Vanguard account (which would mean you haven't set up second verifications where a text or email confirmation from you is required when anyone logs in from a new browser)...what can they do? Adding banks, implementing wires, and changing email or home addresses all cause alerts to go to your email on file and require additional confirmations from you.

I'm not saying a breach at one of the major aggregators isn't possible, just that it's unlikely. Probably less likely Vanguard or your bank being breached directly and funds stolen that way (since that would cut out one big step - hacking into Mint or PC to get the login info required to then hack into the actual bank/brokerage accounts).
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daheld
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Re: How do you 7 figure guys organize multiple accounts?

Post by daheld » Wed Aug 29, 2018 12:19 pm

3wood wrote:
Tue Aug 28, 2018 9:01 am
I use Vanguard. They have the option to enter outside accounts. Every month or so I manually update them.
This. Honestly, this is one of the more helpful aspects of PAS. We have Roths, a taxable brokerage account, and a money market fund account at Vanguard. I log in monthly and update our 401k/TSP balances, and I have a good idea of where the total portfolio is.

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TomatoTomahto
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Re: How do you 7 figure guys organize multiple accounts?

Post by TomatoTomahto » Wed Aug 29, 2018 12:22 pm

daheld wrote:
Wed Aug 29, 2018 12:19 pm
3wood wrote:
Tue Aug 28, 2018 9:01 am
I use Vanguard. They have the option to enter outside accounts. Every month or so I manually update them.
This. Honestly, this is one of the more helpful aspects of PAS. We have Roths, a taxable brokerage account, and a money market fund account at Vanguard. I log in monthly and update our 401k/TSP balances, and I have a good idea of where the total portfolio is.
If I’m not mistaken, this option is only for those who hold a Brokerage account at Vanguard, not those in the old Mutual Fund only account.

inbox788
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Re: How do you 7 figure guys organize multiple accounts?

Post by inbox788 » Wed Aug 29, 2018 1:28 pm

Hulk wrote:
Wed Aug 29, 2018 9:09 am
Fidelity: old 401(k), current 401(a), 403(b), i401(k), 529
Vanguard: his and her TIRA and RIRAs, taxable
Schwab: inherited taxable. Fairly “stuck” for tax and family reasons
TDA: HSA
Optum bank: HSA
TIAA-CREF: 403(b)
Vanguard: different state’s 529
Ally Bank: Emergency fund
Bank 1: had for years
Bank 2: mortgage here, auto deposit here for rate reduction

Currently 11 log ins
I could dump bank 1 I guess but have drug my feet because I have been with them for years, have been happy with them and have all my links set up with them.
I could rollover old HSA to new one but just haven’t yet and it’s a small portion
I could dump Vanguard and do our IRAs and taxable at Fidelity but, being an aspiring boglehead, I wanted SOMETHING at Vanguard.

That would still leave me with 8 log ins
Well, that's still a 27% reduction in account, and I'd call that a victory for the year. You won't be touching the HSA for years and it's a small account, so just leave it out and check in on it yearly. Now you're down to 7. The 529 plans are also likely small and limited time, so they too can be managed outside the long term retirement timeframe. You'll add to them, spend the funds, and close out the accounts, so like car loans or mortgages, they're temporary.

I've felt the same way about a few services I've had for years, and kept them, even though I really didn't need them. This year, I finally closed out my oldest credit card that I thought was helping my credit score, and that was the only reason I was keeping it, but so far I haven't experienced any negative effects.

There's not much you can do about 401k plans, and there is some benefit for diversity, but how many of these funds can you add into or roll over after you've left? If they're not a large percentage of your retirement, you might consider giving up any advantages, and consolidate them towards something long term. If you like Schwab, no reason you can't open an IRA there for the long term.

If Ally Bank is only for your emergency fund, there are substitutes. I was looking into CD ladders for a while, but finally came to the conclusion I didn't need that, and I'm taking a little risk with my emergency fund in tax-exempt bonds in taxable, but I keep a little extra just in case. You could be down to 5 logins or less which is a little more manageable, and you may not need to do much aggregation.

You can go further if you're willing to give up bank accounts, but so far I've resisted taking that step in simplification. I'm a little reluctant mixing my larger long term retirement accounts with a liquid cash account for security reasons. I have no need for quick access and liquidation of my entire retirement account, but I'm afraid tying them too closely makes it easier for someone else to do so. Still, it's a consideration with one of the others (Vanguard, Fidelity, Schwab) where I don't have large accounts.

Since Schwab may be a logical place for you to consolidate all your accounts, ask yourself, what's stopping you from moving everything there? What specific benefit do you receive for keeping an extra account here or there? Once I started thinking that way, I started giving up the smaller benefits.

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damjam
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Re: How do you 7 figure guys organize multiple accounts?

Post by damjam » Wed Aug 29, 2018 1:33 pm

Meg77 wrote:
Wed Aug 29, 2018 11:47 am
I'm surprised at all the security fears with regard to Mint and Personal Capital. First of all, their security and data encryption rivals most banks' (and I say that as a banker working at a relatively small institution).

See this blog post for more details though. https://wallethacks.com/personal-capital-security-safe/ A quote below is from the CTO of Personal Capital who has over 20 years of experience, including a stint as a System Architect at RSA Security and running his own full-lifecycle software engineering company. He holds an M.S. in Computer Science from Stanford University. Also, Personal Capital's Founder Bill Harris co-founded PassMark Security, a company that built online authentication systems used by most major banks, and Fritz Robbins was with that company as well.
Our point of view is that viewing your banking and brokerage accounts via Personal Capital is *safer* than going directly to the banking/brokerage site from your browser.

1. Your credentials are stored in a secure data center versus always being transmitted via the user's (generally less-secure) browser
2. The connection is read-only and no money can be transferred out of your banking/brokerage account via Personal Capital, and your banking/brokerage passwords are never returned to your browser from our servers.
3. Our service gives you notification of all banking/brokerage transactions (via email or mobile push notifications) that make it easy for you to monitor you banking/brokerage accounts for fraud, all in one place!
But in any event, there is usually very little that a hacker can do with the information even if they WERE to somehow get your account information (consider that your account number, name, address, bank name and bank routing info are stamped on all checks that float around). Even if somebody were to hack into Mint or PC, somehow access your login info - and manage to unencrypt it - and then successfully log into your Vanguard account (which would mean you haven't set up second verifications where a text or email confirmation from you is required when anyone logs in from a new browser)...what can they do? Adding banks, implementing wires, and changing email or home addresses all cause alerts to go to your email on file and require additional confirmations from you.

I'm not saying a breach at one of the major aggregators isn't possible, just that it's unlikely. Probably less likely Vanguard or your bank being breached directly and funds stolen that way (since that would cut out one big step - hacking into Mint or PC to get the login info required to then hack into the actual bank/brokerage accounts).
Thank you for posting, especially for the above link. Interesting reading and food for thought. I found David M. Parker's thoughts match mine in many regards. But Personal Capital's CTO makes great points as well.
Good stuff and to the point of OP's original questions (Although it does read a like a press release for Personal Capital).

NYCguy
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Re: How do you 7 figure guys organize multiple accounts?

Post by NYCguy » Wed Aug 29, 2018 2:30 pm

+1. I find Quicken outstanding. It is a power tool.
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Money Market
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Re: How do you 7 figure guys organize multiple accounts?

Post by Money Market » Wed Aug 29, 2018 2:32 pm

jhfenton wrote:
Tue Aug 28, 2018 9:55 am
I do use some VBA in the spreadsheet, but a lot of it is just cascading formulas. I previously used some direct web calls to Yahoo Finance, but when they turned those off last year, I swapped in an add-in (smfGetYahooPortfolioView function) that can pull data into a array of tickers in an Excel spreadsheet. I keep the worksheet with that array hidden except when I am adding or deleting a ticker. Other sheets can pull quotes and other data (bid, ask, change, etc.) from the hidden sheet via VLOOKUP. It's actually faster and more efficient than the old API calls.
That's a real neat tool. I'm relying on M* portfolios to keep track. How does your spreadsheet handle dividend reinvestments?

Pigeye Brewster
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Re: How do you 7 figure guys organize multiple accounts?

Post by Pigeye Brewster » Wed Aug 29, 2018 2:45 pm

TomatoTomahto wrote:
Wed Aug 29, 2018 12:22 pm
daheld wrote:
Wed Aug 29, 2018 12:19 pm
3wood wrote:
Tue Aug 28, 2018 9:01 am
I use Vanguard. They have the option to enter outside accounts. Every month or so I manually update them.
This. Honestly, this is one of the more helpful aspects of PAS. We have Roths, a taxable brokerage account, and a money market fund account at Vanguard. I log in monthly and update our 401k/TSP balances, and I have a good idea of where the total portfolio is.
If I’m not mistaken, this option is only for those who hold a Brokerage account at Vanguard, not those in the old Mutual Fund only account.
My taxable account is the old Mutual Fund only type and it allows outside accounts to be entered.

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jhfenton
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Re: How do you 7 figure guys organize multiple accounts?

Post by jhfenton » Wed Aug 29, 2018 2:51 pm

Money Market wrote:
Wed Aug 29, 2018 2:32 pm
jhfenton wrote:
Tue Aug 28, 2018 9:55 am
I do use some VBA in the spreadsheet, but a lot of it is just cascading formulas. I previously used some direct web calls to Yahoo Finance, but when they turned those off last year, I swapped in an add-in (smfGetYahooPortfolioView function) that can pull data into a array of tickers in an Excel spreadsheet. I keep the worksheet with that array hidden except when I am adding or deleting a ticker. Other sheets can pull quotes and other data (bid, ask, change, etc.) from the hidden sheet via VLOOKUP. It's actually faster and more efficient than the old API calls.
That's a real neat tool. I'm relying on M* portfolios to keep track. How does your spreadsheet handle dividend reinvestments?
I just add the reinvested shares to each position. I don't track historical transactions in my spreadsheet, only balances and projected new investments. 98.x% of our portfolio is in tax-advantaged, so I don't need to worry about basis for most of it.

furikake
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Re: How do you 7 figure guys organize multiple accounts?

Post by furikake » Wed Aug 29, 2018 2:55 pm

I dig a hole in my yard, I put everything in a sealed box, and then I bury the box. No problem! :mrgreen:

CedarWaxWing
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Re: How do you 7 figure guys organize multiple accounts?

Post by CedarWaxWing » Wed Aug 29, 2018 3:18 pm

I do a net worth spreadsheet that is updated once per year.

That is easy to do, easy to read, and easy for anyone to understand on the first viewing.
Also makes it easy to see annual progress and relative progress with one update.

Other than that I keep a spreadsheet on major transactions so I can check to make sure they are executed properly.

I have had zero problems with the websites of my banks or investments.. and they do a good job on ROI.

Why do necessary work.

Our spreadsheet mainly helps us to understand sources of income (now retired) and makes it easy for the family to take charge if I (we) become incompetent or die. Over a very short time span my offspring, now adults and getting much more up to snuff on finance and personal investing than I was at their age, will become informed as to how to take over our assets on our behalf if necessary.

I tried other more time consuming methods in the past, all of which seemed like a waste of time that detract from life.
I have no interest in giving a password to any outside service or consolidation programs... since I don't see that as more effective than what I do, why add risk with minimal or no benefit.

jdb
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Re: How do you 7 figure guys organize multiple accounts?

Post by jdb » Wed Aug 29, 2018 4:16 pm

furikake wrote:
Wed Aug 29, 2018 2:55 pm
I dig a hole in my yard, I put everything in a sealed box, and then I bury the box. No problem! :mrgreen:
I think you are my neighbor. Been secretly watching you bury that sealed box. When are you going on vacation? 8-)

livesoft
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Re: How do you 7 figure guys organize multiple accounts?

Post by livesoft » Wed Aug 29, 2018 4:22 pm

Here's a thread on organizing a multiple account portfolio:
viewtopic.php?t=150267

I think one point is that one should not over-organize a multiple account portfolio.
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chemeng
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Re: How do you 7 figure guys organize multiple accounts?

Post by chemeng » Wed Aug 29, 2018 4:42 pm

Meg77 wrote:
Wed Aug 29, 2018 11:47 am
I'm surprised at all the security fears with regard to Mint and Personal Capital. First of all, their security and data encryption rivals most banks' (and I say that as a banker working at a relatively small institution).
+1

I wonder if those here who refuse to link their accounts have actually experienced personal data breach and loss of their assets, or are simply basing it off of irrational fear.

I've linked EVERYTHING (over 15+ cash accounts, credit cards, investment accounts, etc) to Mint for the last 10 years and have not once had a single issue. Turning on 2-factor authorization further gives me further confidence that I am as best secured as I can. A one quick login to Mint every morning for 5 minutes lets me scan over all of my accounts to ensure nothing is awry.

I also link only my investment accounts to Personal Capital. I find it does a excellent job showing my asset allocation and also a breakdown of all of my holdings (along with share price, expense ratio, etc)

Finally, I use a custom-made Google sheet that breaks down the stock/bond percentages of my slice-and-dice portfolio, so I easily can see how much off I am from my target AA percentages for rebalancing purposes.

Woodshark
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Re: How do you 7 figure guys organize multiple accounts?

Post by Woodshark » Wed Aug 29, 2018 5:17 pm

I have all my assets listed in my Vanguard account. You can add "outside" investments that are not under the Vanguard umbrella. If it's trackable by a market symbol (stock ticker or fund abbriviation) it updates automatically. What it won't do is log into other financial institutions (banks, Schwab, etc) and update that info. For that I manually update that once a quarter. I was even able to add my wife's assets within Vanguard to my screen. This has a "look only" permission (no trading) and has to be set up by Vanguard with her permission. Still, it's nice logging into Vanguard and seeing all our assets listed.

dan23
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Re: How do you 7 figure guys organize multiple accounts?

Post by dan23 » Wed Aug 29, 2018 6:32 pm

Meg77 wrote:
Wed Aug 29, 2018 11:47 am
Our point of view is that viewing your banking and brokerage accounts via Personal Capital is *safer* than going directly to the banking/brokerage site from your browser.

1. Your credentials are stored in a secure data center versus always being transmitted via the user's (generally less-secure) browser
2. The connection is read-only and no money can be transferred out of your banking/brokerage account via Personal Capital, and your banking/brokerage passwords are never returned to your browser from our servers.
3. Our service gives you notification of all banking/brokerage transactions (via email or mobile push notifications) that make it easy for you to monitor you banking/brokerage accounts for fraud, all in one place!
It's not just about Personal Capital's security. If you give your password and username to anyone, including Personal Capital, and the Bank can tell, it gives the Banks the right to say you violated ToS and they don't have to support you when all your money gets stolen, even if your Bank password is acquired by means that have nothing to do with Personal Capital.

mpsz
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Re: How do you 7 figure guys organize multiple accounts?

Post by mpsz » Wed Aug 29, 2018 6:55 pm

Since we're on the topic of aggregators, it's important to note that OAuth access is coming soon. Some banks, most notably Chase, already use it with Mint.

The way it works is you'd go to Mint, select Chase as a bank that you want to add, Mint would redirect you to Chase, you enter your password on Chase's website, Chase verifies that you want to grant Mint access and to which accounts, and then Chase sends a unique set of tokens for Mint to use in its future calls to Chase's APIs to fetch your transactions, balances, etc.

Mint never sees your password, and Chase has the ability to give Mint read-only access to your accounts. Should there be a breach at Mint and their database get stolen, your credentials can be traced back to Mint and Chase could even de-activate all Mint credentials. You can also go into your Chase account and revoke Mint's access.

Fidelity is rolling this out soon as well: https://www.fidelity.com/security/fidel ... a-security

That being said, I'm still wary of using an aggregator because I don't want any one company to know my entire financial situation (for example, to avoid the Personal Capital sales call). I'm fine with using it for checking and credit card accounts, and managing investment accounts separately.

texasdiver
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Re: How do you 7 figure guys organize multiple accounts?

Post by texasdiver » Thu Aug 30, 2018 12:58 am

My wife and I recently relocated and changed jobs which provided the opportunity to consolidate all of our accounts. I rolled everything into my legacy Federal TSP account. She rolled everything into a Vanguard IRA. Every chance we get we consolidate.

95% of our holdings (low 7 figures) is in those two accounts which are both invested in single target retirement funds.

All our new money goes into new 401k and 403b accounts which we are currently dumping into total stock market index funds. When the new money grows enough to have a meaningful impact on our allocations I'll rebalance by shifting the TSP into a more conservative target fund. We do have some small-ish Roths that we had to deplete to some extent when we relocated from a LCOL to HCOL area and needed more cash for the down payment.

Not much to actually manage but I do track everything in Quicken and check the actual fund web sites from time to time to make sure all is in order.

There isn't really anything more to manage than when our net worth was in the 5 figures. Just more zeros.

3-20Characters
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Re: How do you 7 figure guys organize multiple accounts?

Post by 3-20Characters » Thu Aug 30, 2018 6:46 am

I keep it simple:

- Vanguard
- Ally
- HSA bank linked with TDA
- Brick and mortar bank for convenience (am in the process of removing this account and putting everything in ally once payees are updated).

- My spreadsheet updates from yahoo finance every night.
- I download shares data and paste in spreadsheet once a month or so and while I’m there I can check account for kosher-ocity.

DONE!


- In the past, I’ve used mint, quicken and others but I prefer my own spreadsheets for simplicity and control.

- The way cyber security has turned into the Wild West, I’d rather have my eggs in one basket and watch that basket—and avoid linked accounts. I do have ACH transfer between banks and vanguard. I have automatic payments sent for recurring costs. Anything that varies month to month, I get email and push the payment from the bank (no automatic pull from checking). I pay almost everything with CC for simplicity but getting bonus points doesn’t hurt.

I. Get. Alerts. FOR EVERYTHING! I use voice verification, 2FA, strong and unique passwords, password manager.

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gasdoc
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Re: How do you 7 figure guys organize multiple accounts?

Post by gasdoc » Thu Aug 30, 2018 8:51 am

Our finances are relatively simple:
1. Mostly 3 fund portfolio
2. Almost all investment money in Vanguard, in various accounts, but all on one web page.
3. All banking at CapitalOne 360, with a local bank with a small monthly transaction to keep it open.

I use Quicken to monitor the credit card/debit card/auto withdrawals daily. I log onto Vanguard occasionally to check the investments. I use Vanguard's portfolio Watch to monitor asset allocation.

gasdoc

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Kitty Telltales
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Re: How do you 7 figure guys organize multiple accounts?

Post by Kitty Telltales » Thu Aug 30, 2018 11:00 am

3wood wrote:
Tue Aug 28, 2018 9:01 am
I use Vanguard. They have the option to enter outside accounts. Every month or so I manually update them.
I'm looking on their site for this option. Can you give me a hint how I can do this?

Update: Found the answer to my question. Thank you for posting. You've opened a new door for me.

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TomatoTomahto
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Re: How do you 7 figure guys organize multiple accounts?

Post by TomatoTomahto » Thu Aug 30, 2018 12:45 pm

Kitty Telltales wrote:
Thu Aug 30, 2018 11:00 am
3wood wrote:
Tue Aug 28, 2018 9:01 am
I use Vanguard. They have the option to enter outside accounts. Every month or so I manually update them.
I'm looking on their site for this option. Can you give me a hint how I can do this?

Update: Found the answer to my question. Thank you for posting. You've opened a new door for me.
Yes, it was so hidden away that I thought it was unavailable.

inbox788
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Re: How do you 7 figure guys organize multiple accounts?

Post by inbox788 » Thu Aug 30, 2018 4:43 pm

TomatoTomahto wrote:
Thu Aug 30, 2018 12:45 pm
Kitty Telltales wrote:
Thu Aug 30, 2018 11:00 am
3wood wrote:
Tue Aug 28, 2018 9:01 am
I use Vanguard. They have the option to enter outside accounts. Every month or so I manually update them.
I'm looking on their site for this option. Can you give me a hint how I can do this?

Update: Found the answer to my question. Thank you for posting. You've opened a new door for me.
Yes, it was so hidden away that I thought it was unavailable.
They've been moving things around. It used to be at the bottom of my first summary page. Under "Outside Investments" ("Add accounts that you update yourself"). I get into the old pages randomly depending on the links I click.

https://personal.vanguard.com/us/XHTML/ ... View.xhtml

vs. new starting link

https://personal.vanguard.com/my-accoun ... K/balances

[Ah, it's under the Holdings tab now]

I tracked a few outside holdings for a while, but got tired of updating them manually, and deleted them. Didn't see the value of the time put in. If it automatically updated, I might have kept it, but attempts to do that with data aggregators have been too time consuming to keep up to date and I'm concerned about security risks, so don't bother. YMMV.

stimulacra
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Re: How do you 7 figure guys organize multiple accounts?

Post by stimulacra » Thu Aug 30, 2018 4:55 pm

Any old 401k accounts I roll over into an IRA.

My traditional IRA and brokerage accounts are the only ones that have a slice and dice portfolio or individual tickers. Every other account I try to keep dead simple with a three-fund portfolio. I rebalance within each account, not across them.

HSA has a noticeably higher cash allocation because it's a dual purpose account.

Currently down to four logins to get a snap shot. Google sheets tracks my progress.

H-Town
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Re: How do you 7 figure guys organize multiple accounts?

Post by H-Town » Thu Aug 30, 2018 5:24 pm

Meg77 wrote:
Wed Aug 29, 2018 11:47 am
I'm surprised at all the security fears with regard to Mint and Personal Capital. First of all, their security and data encryption rivals most banks' (and I say that as a banker working at a relatively small institution).

See this blog post for more details though. https://wallethacks.com/personal-capital-security-safe/ A quote below is from the CTO of Personal Capital who has over 20 years of experience, including a stint as a System Architect at RSA Security and running his own full-lifecycle software engineering company. He holds an M.S. in Computer Science from Stanford University. Also, Personal Capital's Founder Bill Harris co-founded PassMark Security, a company that built online authentication systems used by most major banks, and Fritz Robbins was with that company as well.
Our point of view is that viewing your banking and brokerage accounts via Personal Capital is *safer* than going directly to the banking/brokerage site from your browser.

1. Your credentials are stored in a secure data center versus always being transmitted via the user's (generally less-secure) browser
2. The connection is read-only and no money can be transferred out of your banking/brokerage account via Personal Capital, and your banking/brokerage passwords are never returned to your browser from our servers.
3. Our service gives you notification of all banking/brokerage transactions (via email or mobile push notifications) that make it easy for you to monitor you banking/brokerage accounts for fraud, all in one place!
But in any event, there is usually very little that a hacker can do with the information even if they WERE to somehow get your account information (consider that your account number, name, address, bank name and bank routing info are stamped on all checks that float around). Even if somebody were to hack into Mint or PC, somehow access your login info - and manage to unencrypt it - and then successfully log into your Vanguard account (which would mean you haven't set up second verifications where a text or email confirmation from you is required when anyone logs in from a new browser)...what can they do? Adding banks, implementing wires, and changing email or home addresses all cause alerts to go to your email on file and require additional confirmations from you.

I'm not saying a breach at one of the major aggregators isn't possible, just that it's unlikely. Probably less likely Vanguard or your bank being breached directly and funds stolen that way (since that would cut out one big step - hacking into Mint or PC to get the login info required to then hack into the actual bank/brokerage accounts).
+1. With my previous experience in system design and security, I confirm this. It's more likely that the average Joe will be hacked than it is with financial institution. If you have preventive measure in place, the risk of being hacked and lost your money is extremely low.

I use Personal Capital and I'm confidence with my set-up to prevent cyber crime.

Consider the following measures to increase your security:
1) You should have a separate email address (gmail or icloud) for just your banks and brokerage house. All alert activities email should go to this email. Don't give out this email address, except maybe your spouse.
2) Don't ever use public wifi to access your "financial email" and/or access bank/brokerage accounts.
3) Have a clean laptop set up just for financing activities. Secure it with password protection and keep it safely stored. Don't use it for internet surfing, social media, or google stuff. Don't let anyone use this computer.
4) All your banks and institutional website should have 2-step verification. Utilize that feature as it will require verification if a new browser/computer try to log-in (even if it has correct username and password).
5) Change your password regularly and often. Schedule it monthly or quarterly. Have a spreadsheet to keep track of your password and also password protect your spreadsheet. It would cost nothing compared to buying a separate app for it.
6) Check you account activities regularly.

3-20Characters
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Re: How do you 7 figure guys organize multiple accounts?

Post by 3-20Characters » Thu Aug 30, 2018 9:18 pm

H-Town wrote:
Thu Aug 30, 2018 5:24 pm

It's more likely that the average Joe will be hacked than it is with financial institution.
Equifax!

I can control what I do but not what others do. Think like a hacker. Would you try to pick off people one at a time when you can instead hack thousands or millions of accounts at the source?

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Kitty Telltales
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Joined: Thu Mar 17, 2016 8:36 am
Location: In the middle of the EU sometimes Florida

Re: How do you 7 figure guys organize multiple accounts?

Post by Kitty Telltales » Fri Aug 31, 2018 11:22 am

inbox788 wrote:
Thu Aug 30, 2018 4:43 pm
TomatoTomahto wrote:
Thu Aug 30, 2018 12:45 pm
Kitty Telltales wrote:
Thu Aug 30, 2018 11:00 am
3wood wrote:
Tue Aug 28, 2018 9:01 am
I use Vanguard. They have the option to enter outside accounts. Every month or so I manually update them.
I'm looking on their site for this option. Can you give me a hint how I can do this?

Update: Found the answer to my question. Thank you for posting. You've opened a new door for me.
Yes, it was so hidden away that I thought it was unavailable.
They've been moving things around. It used to be at the bottom of my first summary page. Under "Outside Investments" ("Add accounts that you

update yourself"). I get into the old pages randomly depending on the links I click.

https://personal.vanguard.com/us/XHTML/ ... View.xhtml

vs. new starting link

https://personal.vanguard.com/my-accoun ... K/balances

[Ah, it's under the Holdings tab now]

I tracked a few outside holdings for a while, but got tired of updating them manually, and deleted them. Didn't see the value of the time put in. If it automatically updated, I might have kept it, but attempts to do that with data aggregators have been too time consuming to keep up to date and I'm concerned about security risks, so don't bother. YMMV.
I played with the feature last evening. I have a few individuals stocks, which it is capable of updating and will save time logging into another account. I don't like that it adds the total to my Vanguard balances, that's confusing. However, having all my IRA totals included lets me play with the asset allocation charts. Eventually it will get old though so I agree with you.

I'm a spreadsheet person too and my favorite "wasting time" activity is updating that twice a month.

darrvao777
Posts: 192
Joined: Wed Sep 10, 2014 1:34 pm

Re: How do you 7 figure guys organize multiple accounts?

Post by darrvao777 » Fri Aug 31, 2018 8:04 pm

Hulk wrote:
Tue Aug 28, 2018 8:40 am
Dear wise bogleheads,

What are your thoughts on the security of financial tools to organize your various accounts, such as Personal Capital or Mint? Our money is spread in so many places now (His and her 401ks, old 401ks, IRAs, HSAs, checking, MM, brokerage etc) it is a total pain to log into 10 different accounts every month or so to track it. We are getting to the point now where new contributions are not sufficient to re-adjust back toward our goal AA and it seems like Personal Capital or some similar site would be very useful. However, I am quite nervous of some kind of security breach by having access to all this information and, I guess, passwords. What do you guys do?

Thanks!
His and hers 401ks = Such a small percentage of our net worth that I don't track them anymore
His and hers Roth IRAs = @Vanguard
His and hers HSAs = Such a small percentage of our net worth that I don't track them anymore
Checking and money market = Joint account at the same bank, wife checks it daily, I check it once monthly
Brokerage = The vast majority of our networth, @Vanguard. Wife checks it once yearly to rebalance, I check it once monthly while making new contributions from paychecks

I know PC and Mint are probably safe but I don't want to run that risk. I believe my wife uses a spreadsheet for rebalancing but its pretty easy since we only count the funds in the brokerage account when rebalancing

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