I have some mutual funds through USAA to start fiddling and playing around, but I'll be using mostly vanguard soon. That's awesome- I didn't know they sent checks back. I am also unsure which funds to invest in if I use USAA. They usually cost $.50-1.00 and are available at millions of locations. Press question mark to learn the rest of the keyboard shortcuts. The agressive funds sound like they could really be good but I am so inexperience that I don't really know how to go about doing the research to pick the investment strategy that is right for me. There are discounts for multi-cars, daytime running lights and other things. I've seen off the cuff comments before, but hopefully this being Moronic Monday won't get me much ridicule. Certified checks can be mailed out in a few days, and I can use any ATM I want to get money from and deposit all my checks via my phone. The more narrow aggressive funds do have better recent returns, but also higher volatility than an S&P 500 fund. Took countless calls to fix and to get them to write a letter that they fucked up. I have recently decided to start investing my money and since I use USAA for banking I am considering using their investment tools and mutual funds to start. No fees, ATM fee refunds, deposit checks at any UPS, profit sharing for members. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. I just made the switch to their 2055 target fund (FDEWX) which is much cheaper than USAA's 2050 fund. I did. Now through USAA you can purchase Fidelity Funds at no cost. Great website and customer care. Press question mark to learn the rest of the keyboard shortcuts. Expense ratios on USAA mutual funds are too high, so keep your investments somewhere else. You can compare and contrast the funds yourself but for example the Fidelity S&P 500 index fund (FUSEX) has an expense ratio of 0.09% so I use that instead of the USAA fund. By using our Services or clicking I agree, you agree to our use of cookies. I don't deal with large amounts of cash, ever, so if I get even a few hundred bucks I just keep it and use that as spending money. I started out with USAA mutual funds for my Roth IRA. I transferred my assets to fidelity and I like them much better. The expense ratio is relatively low (0.29%) and it's moderately aggressive. Cons: few branches so depositing cash is difficult, savings account interest rates are low. USAA has some sort of relationship with Fidelity, so with your USAA brokerage account you can also invest in Fidelity funds and ETFs commission-free. Only claim so far was fixing a chip in my windshield, which was free to me. My monthly premium dropped from $200 to $80 when I switched from Geico to USAA. USAA requires $3,000 for a regular account and $500 for a mutual fund account. Robinhood easily wins here. As a result, USAA Investment Management Company (IMCO) will soon begin working with National Financial Services LLC (NFS), a Fidelity Investments Company, to handle trade execution, clearing, custody and other brokerage-related services on behalf of IMCO. My brother and in laws use their banking services. Only claim so far was fixing a chip in my windshield, which was free to me. My renters insurance with USAA is about $17/mo. I am not impressed. Luckily I am back home in San Antonio, Texas which is where their main office is located. Wow that's really shitty man. Unreal! Fees are little higher than average for trading ($8.95). It may not have not been reviewed, commissioned or otherwise endorsed by any of our network partners or the Investment company. My question is where these funds rate in the pack. That’s a move in the right direction. USAA banking is also good. Seemed like a good trade off of risk and reward. I am a bot, and this action was performed automatically. I have been using USAA for checking, savings, one credit card, and car + renters insurance for about 6 years. I'm going to research this. Edit: Also, on a rollover of mine, they randomly fucking distributed some of my money for no reason. Press question mark to learn the rest of the keyboard shortcuts. Not so much for investments. They just switched over their investments backend to National Financial (eg Fidelity) so their investments have much better rates. Fees are little higher than average for trading ($8.95). In my experience, USAA usually doesn't have the absolute best rates or lowest fees on anything. That was my intent was to buy EFTs as well but buying them on their phone app doesn't clearly show how to buy EFTs. The more narrow aggressive funds also have higher expense ratios, which means you'll lose 4 times more performance to fees than the S&P index fund. USAA banking is also good. Thanks for the heads up. Please contact the moderators of this subreddit if you have any questions or concerns. Everywhere I have read says to Vanguard.. Join our community, read the PF Wiki, and get on top of your finances! Years ago their fees and commissions were high so I went with Vanguard and Fidelity. The difference between them and the best is small enough to be negligible in most cases, though. Has anyone USAA investing account before? Cookies help us deliver our Services. He already has a renters policy, but wondering if it would be worth trying to get the eligibility. USAA also has a $10 closeout fee (for no activity in one year with a balance less than $100) that Robinhood doesn’t have. It's an S&P 500 fund, which means it tracks the 500 large companies than make up the S&P index. Recently purchased a home as well and got a ton of rebates/discounts. I’ve heard they’ve improved but I’m satisfied and haven’t felt any need to reconsider them. I haven't bought a stock in 10 years so I'm not sure what is a good price anymore. I mostly buy and hold larger amounts of individual stocks and ETFs to keep costs low. My monthly premium dropped from $200 to $80 when I switched from Geico to USAA. I think it's fine and fun to play with really, nothing bad from what I've seen. I got everything I needed to do complete with USAA, over the phone, before the cops showed up. One I'm using right now is their network of real estate agents who work with them for a commission discount. When I switched to USAA I thought the no branches thing was a negative, but honestly, in nearly 4 years I haven't had a single need for a physical branch location. Press J to jump to the feed. my parents get a big refund because they also use it for homeowners insurance. Join our community, read the PF Wiki, and get on top of your finances! No fees, ATM fee refunds, deposit checks at any UPS, profit sharing for members. I'm really glad I asked this question. usaa is awesome. My father served in the army, but has never used USAA, so in order for me to even get a quote he would need to start a policy. I'd highly recommend them for insurance! It's not as user-friendly as some of the majors, but it gets the job done. So likely less than $100 for the year and if I understand correct, I would then be eligible for USAA products for life. i get a check back every year. I don't know that he needs to get a policy, but he needs to have a usaa number and then you can get grandfathered in under his number. Thanks I have my checking there so I was thinking I would try it. Got triggered remembering that. Fees were incredibly high. Looking for some insight. Cookies help us deliver our Services. He would just need a renters insurance policy for his studio apartment. All in all, I think USAA is fine and I started off using it because I already had all my money with them. It's handy to have something like USSTX around as an alternative for a savings account, though there are better general purpose brokers than them. Should I try elsewhere? Brokerage was far less easy than any of the major brokers, I don't know what price is nowadays so I can't comment on that. I hate their shitty tools, expensive fees, lack of general portfolio performance tools available. That was one I was consedering. If you have all your stuff through USAA … Account minimum: Last year, USAA dropped its initial investment to $500 from $3,000. USAA Investment vs Vanguard/Others. I'm learning and I am picking up some good peices of knowledge but asking questions is a good way to get the information you need. I used to have my IRA there, fees were insane and they were a huge pain to rollover. Are they above average? Use them, hate them as a brokerage. It came in handy when I needed a special notary, but there were several other options that were nearly as convent as the local USAA branch, but a slightly longer drive away. So I recently started taking a more active approach to my investing and came across this subreddit. Switched to Vanguard. Had them for my IRA. I see. Liberty Mutual hiked my insurance 54% this year and I'm looking into alternative options. They know it's the reason people stay with them, and it shows. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. I use USAA for my Roth IRA and taxed brokerage accounts. Lost home insurance when I moved and they were no longer writing policies in Florida. USAA is great for banking and insurance. You can compare and contrast the funds yourself but for example the Fidelity S&P 500 index fund (FUSEX) has an expense ratio of 0.09% so I use that instead of the USAA fund. if they pay out less in claims than they took in payments, you get a refund. I've had USAA for the better part of a decade and love them. Depends on the investment. By using our Services or clicking I agree, you agree to our use of cookies. Interesting. some expenses are high https://www.ifa.com/articles/USAA_A_Deeper_Look_at_Their_Performance/, New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. As the other poster said, investments aren't terrific, but we are happy with banking and insurance :). Just buy a money order and deposit that with your smartphone. From USAA: "We’re always looking for ways to make your investing experience better and continually respond to customer feedback. We use USAA for insurance, car and renters, and it is consistently cheaper! Their customer service is spot on, and they have helped me through plenty of things that scared me half to death. The one con I have found is that they do not have many branches, about twenty total nationwide. For background info: Been in the military for ~3 years, contributing to TSP for 2 years with about 65% going to L fund and then 10-15% going into S, C, and I funds each. Their customer service is great- alternator went out on our car and within 30 minutes there was a tow truck on the way! We have never gotten one and we use both auto and renters insurance. My insurance price is a tad bit higher, but I would rather have USAA auto insurance/renters insurance over any one else. I will look into this. It is never a bad idea to become a USAA member if you can. :). This was before I wised up. Robinhood customers can open an investment account with a $0 deposit. Now all I have is car insurance. If you want to do something with money, they'll help you.