RetiredAndLovingIt
Thinks s/he gets paid by the post
I buy CD's in my Fidelity Cash Management account which is linked to my banks and credit unions and have not paid any commissions. I only buy new issues though.
This seemed to be a brokerage account within your 401k, which may not be the same as Fidelity general account. For example, my 401k has a brokerage account, which has a restriction on no more than 50% of total 401k balance and also fees for T bill as well as $20 maintenance fee per quarter, but I can place new CD order with phone for free. So read your 401k brokerage fee schedule or call them for clarification. One benefit for sure is even their MM default is way better than SV within 401k.Speaking of brokered CDs, I want to add a Fidelity Brokerage Link to my 401K, in order to buy some CDs. I want to get some $$ out of my stable value fund in the 401K and move it into CDs. I looked at the verbiage from my 401K website about Fidelity and it says there in no annual fee for the brokerage account, but there may be fees taken from certain buys. For example, one dollar per thousand on the purchase of a CD. Is the process of adding the Fidelity brokerage link pretty straight forward? Is there really a fee to the user, or is that $1 per thousand fee absorbed by a third party? Thanks
Speaking of brokered CDs, I want to add a Fidelity Brokerage Link to my 401K, in order to buy some CDs. I want to get some $$ out of my stable value fund in the 401K and move it into CDs. I looked at the verbiage from my 401K website about Fidelity and it says there in no annual fee for the brokerage account, but there may be fees taken from certain buys. For example, one dollar per thousand on the purchase of a CD. Is the process of adding the Fidelity brokerage link pretty straight forward? Is there really a fee to the user, or is that $1 per thousand fee absorbed by a third party? Thanks
Speaking of brokered CDs, I want to add a Fidelity Brokerage Link to my 401K, in order to buy some CDs. I want to get some $$ out of my stable value fund in the 401K and move it into CDs. I looked at the verbiage from my 401K website about Fidelity and it says there in no annual fee for the brokerage account, but there may be fees taken from certain buys. For example, one dollar per thousand on the purchase of a CD. Is the process of adding the Fidelity brokerage link pretty straight forward? Is there really a fee to the user, or is that $1 per thousand fee absorbed by a third party? Thanks
This seemed to be a brokerage account within your 401k, which may not be the same as Fidelity general account. For example, my 401k has a brokerage account, which has a restriction on no more than 50% of total 401k balance and also fees for T bill as well as $20 maintenance fee per quarter, but I can place new CD order with phone for free. So read your 401k brokerage fee schedule or call them for clarification. One benefit for sure is even their MM default is way better than SV within 401k.
... but there is a $1 per $1,000 fee for opening a secondary market CD.
Nope. A button might be available somewhere on some screen, but I haven't found it. It says I have x amount available to trade, but the x amount is never said to be in FDRXX. Just 'core account' or 'cash' or 'credit'.Can’t you click on your core account and see what it is - like a symbol?
If you do not see FDRXX specifically shown on your screen, then your funds are not in it.
Simply place an order to buy FDRXX.
If the system won't let you, then call and have a representative do it for you. Tell them the system gives you an error message, and they won't charge you any fees.
I tried it again, and at least I got an understandable error message, which was 'you are transferring form fund A into fund A' which implies that the funds are already in FDRXX, but it would be nice to actually see it there, instead of just 'cash available'.
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Are you sure you are viewing “positions”? You should be seeing fund symbols and details (share price, shares, etc) for each item in your account. It doesn’t actually say ‘from fund A’ does it? It should have the symbol for whatever fund is designated as core for the brokerage link account.
It doesn't say Fund A. I was paraphrasing. The problem MAY be that the transaction of moving the money into the brokerage link from my 401K is actually still pending. The word 'pending' does shows up, as in 'pending activity' with a 'trade' button right under it. I click on trade and try to move it into FDRXX and get errors. Screen says the money is available to invest, even though it is 'pending'. Hmmm. Will call Fidelity.
FWIW when I log into Fido I see 5 accounts ( brokerage, 401k, IRA, Roth, etc). When I click the ‘Positions’ tab it lists each position in each account. The accounts that have trading privileges have a double asterisk (** ) next to the core position in each account. I have FDRXX as a core position in two accounts. I think Fido assigned FDRXX since I don’t recall selecting it.
I've noticed the same types of things happening at Schwab. Somethings execute and update immediately. Other things may execute immediately (or overnight) but can take a day or two to update correctly in my accounts. Sometime money seems to be in limbo for a day and I can't find it anywhere and then in a day or so it appears where I expected it to be.Logged into Fidelity Brokerage Link today, and now it shows I have FDRXX and the right amount, and no fees deducted. Hooray ! Apparently it just needed another day. Wish they would have just said so, lol. Thanks for the responses.
I've noticed the same types of things happening at Schwab. Somethings execute and update immediately. Other things may execute immediately (or overnight) but can take a day or two to update correctly in my accounts. Sometime money seems to be in limbo for a day and I can't find it anywhere and then in a day or so it appears where I expected it to be.
Wonder if this is some sort of short term float they are using.
Marcus Online Saving just has a special offer: $100 bonus for deposit of $10k (good for both new and existing account and keeping the new fund for 90 days).
Here are the details:
https://www.marcus.com/us/en/savings/osa-savingsbonus?prd=os&chl=em&schl=emd&cid=Learn_More
^^^^
Couldn't find it but I wonder if they have a max limit at that rate. I'd suspect it's 10 or 25k. If no limit, that could be worth looking into.
I didn't see that.... I guess our money is no good...Look at eligibility, it's not for us in Texas.