Should I break up my IRA investment

[Troyrb]

I just opened a Vanguard account but also liked the looks of Charles Schwab. Should I break my investment up between different companies or just in different funds with the same company?

[sweeps]

It's just an opinion, no right answer. For me, I like to keep things simple. I keep my investments in one place. Scanner could probably tell you where that is.

[Broken Arrow]

That really depends on what kind of investment style best suits you. Each brokerages have different strengths and weaknesses.

[disneysteve]

Charles Schwab is a brokerage company, not a particular investment. Vanguard has a brokerage department, as well. So odds are you could use your Vanguard account to invest in any of the same products that you could get through Schwab with the possible exception of Schwab's in-house funds.

Whether or not that's a good idea is a different issue. I'd say it depends on what investment it is that you are attracted to at Schwab. If Vanguard doesn't have something comparable and/or you can't access that investment within your Vanguard account, it is certainly okay to have more than one IRA account. Just remember that you can't exceed the maximum annual contribution limit ($5,000 for 2008) no matter how it is split up. Also remember that there may be minimum investment requirements you have to meet (most Vanguard funds have a $3,000 minimum) and there are account fees you have to pay until your account reaches a certain level ($20/year/fund with a balance under $10,000 at Vanguard).

[Troyrb]

I'm actualy in a SEP IRA so I can go to 25% of my income each year. I guess I should have said that first. That is why I was thinking of breaking in up. It is a large sum of money I will be investing each year.

[humandraydel]

You can always go with a brokerage (Schwab) and buy Vanguard ETFs. That's what I do.

[LuxLiving]

Investing in one company's financial product via a differing broker? The only thing to watch for in such instances is fees.

I know of what I speak.