Account Consolidation

It's no secret that the past few months have been a little stagnant.  It's been vexing, to say the least.  As such, I decided to make some moves.  

First, I closed one of my Capital One savings accounts.  It was only paying 0.4%, so I moved that into the account that is paying 4.3%.  That account didn't have a huge balance, but it should give a nice boost to the interest income going forward.

The more drastic move is my attempt to move my E-Trade assets over to Robinhood.  The latter site has become the more prominent in my investing as of late.  It's odd, as I originally saw it as a supplement, but there you go.  On top of that, Robinhood is offering all kinds of goodies: interest on cash, a stock lending program, and when I saw that they would match a portion of transfers, I knew that it was time to bid farewell to the site that got this investing journey started.   

Sadly, this wasn't quite as quick as the savings account closing.  It'll take a few days to process, but if it works, it should be for the best.  A lot of those fractional positions will be bolstered by shares that were in E-Trade.  Not only is that far fewer digits past the decimal, but it should also decrease the number of "loose change" dividends that appear in the dividend posts each month.

With more full share positions, the stock lending should also get a nice boost.  It's not a huge amount of income, but it is nice to see it when it does pop up. 

The one downside is that E-Trade actually shows you your projected income for the next year.  Now it'll have to be more of a "fly by the seat of your pants" operation.  Sure, that number was technically inaccurate, but it was at least a ball park.  

All in all, though, it's actually nice to concentrate things like this.  It makes for fewer directions to send money and it'll make updating the balance sheet less of a chore.  Whether this helps pave the way for 2024 remains to be seen, but there are perks, no doubt.

Click here to open a RobinHood account

Click here to become a Swagbucks member

Click here to open a FundRise account