Sojourner
Thinks s/he gets paid by the post
- Joined
- Jan 8, 2012
- Messages
- 2,617
Just got off the phone with Schwab, and I have to say I'm pretty flabbergasted. Turns out they don't offer a way to automatically sell a set amount of their premium money market fund (SWVXX) on a recurring, monthly basis. This seems like a very basic function that any full-featured brokerage would offer. How does Schwab think their older/retired customers should go about setting up a monthly, automated income stream to fund their spending?
If this is actually not possible, and you have to manually log into your Schwab account and click through the "sell" procedure every month like a robot, then I'll be transferring all my funds out of Schwab to a more user-friendly brokerage . It's almost beyond belief that something this basic is not possible at Schwab.
Has anyone else found this to be a major annoyance, or is it just me?
If this is actually not possible, and you have to manually log into your Schwab account and click through the "sell" procedure every month like a robot, then I'll be transferring all my funds out of Schwab to a more user-friendly brokerage . It's almost beyond belief that something this basic is not possible at Schwab.
Has anyone else found this to be a major annoyance, or is it just me?