Should I disclose a Betterment account?
I am a back office guy.
My firm doesn't have Betterment on the allowed list. I'd like to open up an account to plow my savings into. Mainly, I like the annual rebalancing feature. I already max out my 401(k) and wanted to use this as a taxable vehicle. I'll pick a diversified portfolio in different asset classes, pump my money into it, and not even think about it.
The only way to get the account is not to disclose it. I'm just going to be buying Vanguard funds mostly. Should I do it? Or should I just do the rebalancing myself? Will I get caught? Thoughts?
Just do the rebalancing yourself and save the fees/risk of getting "caught" are you that lazy? Open up a TD Ameritrade account and buy their commission-free ETFs tah-dah.
That’s what I do now. It’s annoying. And yes, I guess I am lazy. I probably won’t even do this, it would just be nice not to have to do it all the top. Whenever I do the rebalance, I’m also tempted to tweak it, which hurts returns.
Either you Rule 407 your Betterment account or you suck it up and use a bank approved list. You can get fired for that kind of violation. Trading away is a big fucking deal and if they find out, you can get fucked for it. I'd also approach HR/whoever handles it and see what needs to get done to have Betterment added to the list of approved brokerages. That said, don't be an idiot is the only advice I have for you.
I’m going to suck it up and not do it. Thanks guys.
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