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Does anyone use USAA for their investing? If so, what do you think of it? Right now we only use them for insurance and banking, but we're thinking about investing through them once we're ready since we move around so much and won't have to worry about changing brokers. So if there are any USAA investing customers out there, I'd love your input!
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I don't use USAA but I gave them a quick once-over and they seem pretty good. I guess it depends on what you're looking for.
If you're looking for stock trades, their brokerage fees aren't that bad. You could do better, but not bad.
If you're going to use them for mutual funds, as long as you'd be happy using their funds, you'll be ok. It doesn't appear that they offer any no-transaction-fee funds like most fund companies do. Maybe they do and I just didn't see it but if they don't you'll pay $45 for any other funds you may want outside of their family. One thing I noticed when I looked at a couple of their funds was that their balanced fund is heavy on the bond side as compared to other companies' "balanced" funds. USAA's Balanced Fund has 75% in bonds whereas the "normal" balanced fund has ~30-40% bonds. Not that that really matters, just something I noticed.The easiest thing of all is to deceive one's self; for what a man wishes, he generally believes to be true.
- Demosthenes
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