I’ve had this account for over ten years now. However, like my traditional IRA, this too was first opened at Edwards Jones. Early this year, I transferred it to a Vanguard account in order to invest in index funds and avoid the front-loaded mutual funds that I was previously holding.
The whole balance is in one fund: Vanguard Total Stock Market Index Fund Investor Shares (VTSMX). Since I had less than $10,000 initial purchase (but more than the $3,000 minimum), I invested it here with an expense ratio of 0.17% (rather than the 0.05% of VTSAX). Current balance is $9,044.02.
As opposed to my traditional IRA, I’ve been consistently contributing to this after-tax account pretty much the whole time I’ve had it. I remember putting in just $25 a month after I finished graduate school and wasn’t making a whole lot of money at a non-profit company. When I purchased my Los Angeles condo in 2007, I took a withdrawal from this account (most of it, about $5,000) to help fund my down payment. Since then, I’ve been automatically depositing monthly and it’s growing past what I ever had it before.
This may be the account in which to put more money in 2015. With my current $150 per month deposit, I’m $3,700 away from the 2014 maximum of $5,500.
Next up: Betterment online savings account!