Yes, everyone talks about how USAA customer service/experience has regressed in direct proportion to their heavily-advertised membership drive. But beyond that, they really seem to be profiteering from whom I imagine they consider to be oblivious and trusting sailors, soldiers, etc.
An example is their 529 plan. I am astonished at the fees, often in excess of 1%. Other plans, with identical benefits, better interface, and better investment options have fees of about 1/6th of a percent (like NY Saves 529)... and many have fees below a quarter of a percent for similar investing (similar at worst, better is more apt).
The impact of fees on performance could not have received more press in the last couple years and the difference between 1 and 0.2 is significant, and extremely hard to discern by signing up for their plan.
Obviously their loan rates have always been on another planet from the competitive landscape, and I think that projects to everything they do and probably pays for a lot of the commercials. Just a heads up if you have a USAA 529 to check the fees and compare to other plans.
An example is their 529 plan. I am astonished at the fees, often in excess of 1%. Other plans, with identical benefits, better interface, and better investment options have fees of about 1/6th of a percent (like NY Saves 529)... and many have fees below a quarter of a percent for similar investing (similar at worst, better is more apt).
The impact of fees on performance could not have received more press in the last couple years and the difference between 1 and 0.2 is significant, and extremely hard to discern by signing up for their plan.
Obviously their loan rates have always been on another planet from the competitive landscape, and I think that projects to everything they do and probably pays for a lot of the commercials. Just a heads up if you have a USAA 529 to check the fees and compare to other plans.
