If you're subjected to state income taxes where you live, then using Fidelity's Treasury Only money market fund (FDLXX) may prove to be a better deal for you. Since the interest earned (or most of it) comes from US Treasury products it's not subject to state income taxes. This is an important concern for people in high tax states like CA or NY and for high earners in any state.I max out my 401K. I opened a Roth IRA with Fidelity about 6 years ago and max it as well.
Just last week, I opened what I suppose you'd call a "brokerage account" with Fidelity. I put $250,000 in the account and my core position is SPAXX, which I understand is a Money Market account currently earning about 5%. I'd like to just leave the money there for while, unless the interest rate falls. I have two questions.
1. Do you believe this is reasonable?
2. Since I funded this new account, the balance remains exactly $250,000. When should I see any earnings or increase in balance?
See link: https://fundresearch.fidelity.com/mutua ... /31617H300
Regards,
Statistics: Posted by retired@50 — Thu May 09, 2024 8:15 am — Replies 10 — Views 1042
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