I have generally had issues with Vanguard's customer service. Admittedly, my situations weren't run-of-the-mill, but they still should have handled things better. I would label at least one of the situations as "nightmare." It went on for months. Even now, I am getting paper confirmations when I have clearly checked I want no paper. No person there seems to be able to resolve my issue, so I live with it. I have a personal account there that I am slowly closing out by donating the funds to charity. We have a trust account there that I would move if I thought I wouldn't incur capital gains or if I didn't mind the general hassle that goes along with moving an account. Love the mutual funds, dislike the customer service, and as one person noted the website doesn't exactly kick butt.
Every chance I get to roll out of a 401(k) and into an IRA, I do it. I've been part of company sales twice in the last 2-1/2 years and took advantage of the opportunity both times. I don't want someone else picking my fund lineup. I don't want someone having to approve my distribution. You, on the other hand, maybe happy with your investment lineup and not bothered by the things I am. But I really don't want anyone else in my business or making any decisions about my investments but me.
It is interesting you say it has no intrinsic value. I have heard the opposite. And forgive me for not stating the reasons articulately, but basically you can make stuff out of gold, and it's historically been used as a currency, so there is intrinsic value in that regard. Still, I agree with the sentiment. I do not plan to invest in gold because it does not produce income.
I like paying with cash at stores when I can. I don't know why, but I do. Maybe it's because I know deep down it is costing the merchant 3% or whatever for my card transaction, which is ultimately getting passed on to the customer. As for power outage situations, it seems that the pendulum has swung so far toward card use that businesses will be forced to make concessions to serve people when there's no power. I don't know what those concessions look like, but I can't imagine a business letting everyone go without, say, bottled water because only 25% of the people have the cash available to purchase it.
A lot of Girl Scout troops are taking credit cards now. Maybe not when going door-to-door, but when you see them at booth sales at grocery stores, etc.
The trouble with buying every number in the lottery is if you have to split the jackpot. It seems more likely someone will buy your same numbers when the jackpot gets high and more people play.
As a general matter, I try to take a soft approach when consulting on these. I don't want to "sell" them. If some salesman pushes one on you and it's not a good fit, there will be much regret later - and it's usually not the salesman cleaning up the mess. I try to give as much information as I can. I start with saying how much you can deduct, then I tick off all the potential pitfalls, and if they still want the plan after that, then great. It can be a great tool. You do need partners in your journey who will provide you with proactive consulting. I have to walk a fine line when discussing who is making the contributions. Generally, these are 100% funded by the employer, so I cannot say to someone this is how much YOU can contribute to a cash balance plan or how much you can "save" in the plan. Of course, if someone is a sole owner of the business, then certainly they are the ones contributing for themselves. What about a medical practice with 10 partners? Technically, it is their employer that decides how much should be contributed on their behalf, but we all know partner contributions are coming out of that partner's compensation pot.
You'll need to give a certain number of other employees a "meaningful benefit" in the cash balance plan. You'll also need to satisfy a nondiscrimination test, which means giving some or all of your employees certain minimum benefits either in the cash balance plan or in a 401(k)/cash balance combo.
Whenever there's a test or question that's supposedly easy, I always worry that I'm going to accidentally click the wrong button or rush and interpret the question opposite of what's intended.
Actually, one argument I've been hearing in favor of gold recently is that it DOES have intrinsic value because you can make stuff out of it and do a lot with it.
Comments
I have generally had issues with Vanguard's customer service. Admittedly, my situations weren't run-of-the-mill, but they still should have handled things better. I would label at least one of the situations as "nightmare." It went on for months. Even now, I am getting paper confirmations when I have clearly checked I want no paper. No person there seems to be able to resolve my issue, so I live with it. I have a personal account there that I am slowly closing out by donating the funds to charity. We have a trust account there that I would move if I thought I wouldn't incur capital gains or if I didn't mind the general hassle that goes along with moving an account. Love the mutual funds, dislike the customer service, and as one person noted the website doesn't exactly kick butt.
Post: Schwab or Vanguard?
Link to comment from January 17, 2026
Every chance I get to roll out of a 401(k) and into an IRA, I do it. I've been part of company sales twice in the last 2-1/2 years and took advantage of the opportunity both times. I don't want someone else picking my fund lineup. I don't want someone having to approve my distribution. You, on the other hand, maybe happy with your investment lineup and not bothered by the things I am. But I really don't want anyone else in my business or making any decisions about my investments but me.
Post: Consolidating 401(k)s in retirement
Link to comment from January 11, 2026
It is interesting you say it has no intrinsic value. I have heard the opposite. And forgive me for not stating the reasons articulately, but basically you can make stuff out of gold, and it's historically been used as a currency, so there is intrinsic value in that regard. Still, I agree with the sentiment. I do not plan to invest in gold because it does not produce income.
Post: Gold Isn’t Special
Link to comment from January 11, 2026
I like paying with cash at stores when I can. I don't know why, but I do. Maybe it's because I know deep down it is costing the merchant 3% or whatever for my card transaction, which is ultimately getting passed on to the customer. As for power outage situations, it seems that the pendulum has swung so far toward card use that businesses will be forced to make concessions to serve people when there's no power. I don't know what those concessions look like, but I can't imagine a business letting everyone go without, say, bottled water because only 25% of the people have the cash available to purchase it.
Post: Cash Ain’t Trash
Link to comment from December 27, 2025
A lot of Girl Scout troops are taking credit cards now. Maybe not when going door-to-door, but when you see them at booth sales at grocery stores, etc.
Post: Cash Ain’t Trash
Link to comment from December 27, 2025
The trouble with buying every number in the lottery is if you have to split the jackpot. It seems more likely someone will buy your same numbers when the jackpot gets high and more people play.
Post: Money Moments
Link to comment from December 27, 2025
As a general matter, I try to take a soft approach when consulting on these. I don't want to "sell" them. If some salesman pushes one on you and it's not a good fit, there will be much regret later - and it's usually not the salesman cleaning up the mess. I try to give as much information as I can. I start with saying how much you can deduct, then I tick off all the potential pitfalls, and if they still want the plan after that, then great. It can be a great tool. You do need partners in your journey who will provide you with proactive consulting. I have to walk a fine line when discussing who is making the contributions. Generally, these are 100% funded by the employer, so I cannot say to someone this is how much YOU can contribute to a cash balance plan or how much you can "save" in the plan. Of course, if someone is a sole owner of the business, then certainly they are the ones contributing for themselves. What about a medical practice with 10 partners? Technically, it is their employer that decides how much should be contributed on their behalf, but we all know partner contributions are coming out of that partner's compensation pot.
Post: Cash Balance Plan Explained
Link to comment from October 5, 2025
You'll need to give a certain number of other employees a "meaningful benefit" in the cash balance plan. You'll also need to satisfy a nondiscrimination test, which means giving some or all of your employees certain minimum benefits either in the cash balance plan or in a 401(k)/cash balance combo.
Post: Cash Balance Plan Explained
Link to comment from October 5, 2025
Whenever there's a test or question that's supposedly easy, I always worry that I'm going to accidentally click the wrong button or rush and interpret the question opposite of what's intended.
Post: I’m Guessing Most HD Readers Will Score 100%
Link to comment from June 1, 2025
Actually, one argument I've been hearing in favor of gold recently is that it DOES have intrinsic value because you can make stuff out of it and do a lot with it.
Post: Go for the Gold?
Link to comment from May 11, 2025