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Post by chang on Jan 25, 2023 15:00:57 GMT
I noticed that when placing a trade, or when transferring funds to a bank account, Fidelity shows you under “Funds Available” the sum of your balances in SPAXX and FZDXX. In other words, even though SPAXX is the official core account, Fidelity seems to be aggregating both money markets together for “core account purposes”.
If this is so, I’ll sweep everything into FZDXX for the higher yield, and try to leave $0 in SPAXX.
Can anyone corroborate this?
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Post by fred495 on Jan 25, 2023 15:21:23 GMT
Yes, that's what I do and have done in the past. I treat the trade between the two MM funds as an "Exchange".
Fred
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Post by Karen on Jan 25, 2023 15:24:31 GMT
You are correct.
At Fido, FZDXX and any other MMkt $ is available for trading of all BUYs.
Conversely at VG, ONLY core a/c $ is available for BUYs of non-VG funds.
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Post by marpro on Jan 25, 2023 15:27:25 GMT
Yes, that's what I do and have done in the past. I treat the trade between the two MM funds as an "Exchange". Fred I see that FZDXX requires a minimum of $100k. Can you do it with a few thousands? |
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Post by chang on Jan 25, 2023 15:36:56 GMT
marpro You can allow the balance to fall below $100k, but I opened it with > $100k, and I think that's necessary.
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Post by marpro on Jan 25, 2023 15:50:24 GMT
marpro You can allow the balance to fall below $100k, but I opened it with > $100k, and I think that's necessary. Thanks. I redeployed all my cash at the end of December. Now, I am fully invested. |
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bruno
Lieutenant
Posts: 57
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Post by bruno on Jan 25, 2023 17:58:42 GMT
Yes, that's what I do and have done in the past. I treat the trade between the two MM funds as an "Exchange". Fred I see that FZDXX requires a minimum of $100k. Can you do it with a few thousands? FZDXX has a $100k minimum in a taxable account, but can be had for a $10k minimum in an IRA |
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Post by marpro on Jan 25, 2023 18:45:42 GMT
I see that FZDXX requires a minimum of $100k. Can you do it with a few thousands? FZDXX has a $100k minimum in a taxable account, but can be had for a $10k minimum in an IRA I would rather buy some CEF with a higher yield in an IRA than keeping 10k in FZDXX. Even, UTG pays higher percentage with 75% LG with less tax to pay or a municipal OEF/CEF. It depends on the individual's specific situation. |
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Post by fritzo489 on Jan 26, 2023 2:34:28 GMT
Karen, when you say core a/c $ are you referring to their settlement fund ? Tanks ,fritzo489
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Post by Karen on Jan 26, 2023 12:25:19 GMT
Karen , when you say core a/c $ are you referring to their settlement fund ? Tanks ,fritzo489
Sorry, yes, at VG, settlement fund $. So, re-stating my prior post...
At Fido, FZDXX and any other MMkt $ is available for trading of all BUYs.
Conversely at VG, ONLY (settlement fund) $ is available for BUYs of non-VG funds, (CDs, etc) .Example: I am planning to BUY a VG brokerage CD very soon. In anticipation of that, I've SOLD $ from VMRXX with the proceeds going to my Settlement Fund (which is VMFXX). Now I can execute the CD BUY. Conversely, at Fido, the cash to BUY anything can be in any MMkt fund. Fido will search all of them. VG will NOT. |
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