Ran across this thread at Bogleheads a month or two ago. I thought poster Cocoa Beach Bum did a great job putting it together.
Link (Original Boglehead Post by Cocoa Beach Bum)
For those who have a WellsTrade account you may find it useful. Some other posters in the original thread noted doing something similar at other custodians, Chase, Etrade, Etc.
I happen to have a old WellsTrade account that's not used for much, but we use the banking side for everything else. Current thinking is to use one of these money market funds to hold a years of expenses, place to hold some short term cash etc. I used VBIL for a while (Vanguards 0-3 month T-Bill ETF or similar SGOV), that worked fine. For simplicity and ease of use I'm thinking a market fund would be easier. Transfer in and out, spouse can do it with ease, no market orders to deal with, don't need to track by/sells etc. I was making more trades in that one ETF then I did in all my other accounts/funds put together.
The fun part now is deciding what fund to use, its a taxable account, prefer to not be subject to Minnesota's state tax!
I have yet to try to buy any of these, but the no minimums being side stepped is interesting.
Below a copy of the original post, (if this cross post in not appropriate please remove). I don't post much on Bogleheads anymore and would like to see some discussion here if ok.
Link (Original Boglehead Post by Cocoa Beach Bum)
For those who have a WellsTrade account you may find it useful. Some other posters in the original thread noted doing something similar at other custodians, Chase, Etrade, Etc.
I happen to have a old WellsTrade account that's not used for much, but we use the banking side for everything else. Current thinking is to use one of these money market funds to hold a years of expenses, place to hold some short term cash etc. I used VBIL for a while (Vanguards 0-3 month T-Bill ETF or similar SGOV), that worked fine. For simplicity and ease of use I'm thinking a market fund would be easier. Transfer in and out, spouse can do it with ease, no market orders to deal with, don't need to track by/sells etc. I was making more trades in that one ETF then I did in all my other accounts/funds put together.
The fun part now is deciding what fund to use, its a taxable account, prefer to not be subject to Minnesota's state tax!
I have yet to try to buy any of these, but the no minimums being side stepped is interesting.
Below a copy of the original post, (if this cross post in not appropriate please remove). I don't post much on Bogleheads anymore and would like to see some discussion here if ok.
