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- Joined
- Jun 25, 2005
- Messages
- 10,252
I ACH all cash from my taxable account at TDAmeritrade out to my checking account. This cash comes from quarterly dividends. I do the same thing with my Fidelity taxable account.For cash management, Ameritrade is poor. Rather than buying BIL or FLRN I just ACH money from Ameritrade to or from a high yield savings account.
But for my 401(k) and IRAs, I cannot ACH the cash out without paying taxes, so that's not going to happen.
I decided long ago that there is no one financial institution that is best at everything. So what I have done is keep a few accounts open to use the tools available at each, but avoid making transactions at those places.
For instance, we really like the Fidelity Charitable Donor-Advised Fund. We basically donate shares held in our Fidelity taxable account to the DAF occasionally.
And Vanguard has excellent bond funds, so Vanguard gets a slug of our money that is in set-and-forget mode.
Most of my transactions are done at WellsTrade since we are grandfathered into the no-fee for anything deal.
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