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Very nice piece. One might add HSAs to the mix. They're sort of like Roths, in that growth is tax-free so long as you have accumulated medical expenses over the years (since the HSA was started) that exceed the amount withdrawn from the HSA.
Be…
Regarding a fund's holdings, it looks like you're referring to 17 CFR § 270.2a-4(a)(2)
https://www.ecfr.gov/current/title-17/part-270/section-270.2a-4#p-270.2a-4(a)(2)
Changes in holdings of portfolio securities shall be reflected no later than in t…
:-)
How many $1 bills to make a ton ?
Why bills? It could have been a sack of Sacagaweas - much more colorful.
https://www.usmint.gov/coins/coin-medal-programs/circulating-coins/sacagawea-golden-dollar
I brought in a ton of money this year as I continue to consolidate holdings. AFAIK that boosts the odds, but no one really knows how Fidelity decides to provide TT for free.
I was prepared to go to Costco while they were still selling Deluxe f…
I was assigned a Schwab rep. The guy is a pro with vast knowledge, has Series 7, 63, 66 Securities Licenses
From Schwab: "Dedicated Financial Consultants are generally made available to clients with $500,000 or more in assets at Schwab and more com…
FMILX - one manager, 1.3 yrs tenure, $100-500K invested
From M*: "The strategy underwent an entire portfolio management team change about a year ago".
Not quite your classic LCV fund!
The portfolio was LCV through 2021 and LC Blend in 2022. It's…
I opened an account in the early 2010s, for access to TGBAX when it was still a solid fund. It filled a small hole in my portfolio (foreign bonds). Firstrade was the only game in town where one could access the cheaper Advisor class shares with a…
Great find! A little quirky though.
It has two entries for Global Wellington - Admiral shares and Investor shares. That's redundant. So far that seems to be the only double listing, but I've just skimmed the page.
Rollover is one of those terms that everyone uses differently. Here's an IRS page entitled "Rollovers of Retirement Plan and IRA Distributions".
https://www.irs.gov/retirement-plans/plan-participant-employee/rollovers-of-retirement-plan-and-ira-d…
Vanguard gives 25 free trades/year at the Flagship level. Likely you need that much ($1M) at Schwab before they'll give you a break.
Otherwise, Vanguard charges $3/auto-invest, but with a min of two investments. If you're DCA'ing, that is of n…
BRUFX pulls up a quote at Schwab, but it's not available for purchase. So, it exists on Schwab platform, and should be transferrable in-kind. WBALX is no-load/NTF at Schwab.
"So it exists on Schwab platform" is a leap. Some brokerages provide qu…
FWIW, my account was an IRA (good guess!). I closed it several years ago but the Firstrade still lets me log in though not trade, obviously. So I can pull up some info like this but cannot do things like test trades to see what happens.
Brokera…
Why should we always have to settle? Why shouldn't systems work FOR us?
While this model was created to describe goods, it also applies to services.
You want good service? You'll either pay more for it (not cheap), or you'll have to wait for it…
I have a question or two for them, also, about THAT: foreign stocks incur a FEE? Even if they trade on US exchanges???? "Foreign stocks." That's what the footnote says.
I just posted a fair amount of info on foreign stock trading (in response to Yog…
I don't think that T Rowe Price offers genuine fractional trading for stocks/ETFs (that one can enter as orders; Fido & Schwab allow that, but a different order screen may be needed). But there are fractional shares for mutual funds and dividend…
SIPC coverage is up to $500K with a $250K limit for cash. The cash coverage limit does not apply to MMF shares (those are securities), nor to bank sweep balances (that's in the bank not the brokerage and is covered by FDIC). It applies strictly t…
I'm sorry but not surprised to hear about these latest problems (execution of a transfer, online access) with T. Rowe Price. While I'm hardly defending them - incompetency is different from strict procedures - TRP could have underlying procedures …
Alternatively, you could buy it directly on the London Exchange (PSH:GB). But not in a retirement account.
Fidelity charges £9 for the London Exchange transaction. At the current exchange rate of $1.26, that's around $11.35 - a lot cheaper than…
Here are my respective allocations (Note: I only have one OEF that does NOT have at least one Mag 7 holding), but I'm still about 3% UNDER the VTSAX Total:
AAPL 3.5%
AMZN 3.0%
GOOGL 3.8%
META 1.0%
MSFT 6.0%
NVDA 3.3%
TSLA …
Is there not an extra charge for over the phone transactions?
I've never been charged. Maybe they just like me :-)
Realistically, it's because a same day, cross-family transaction is something that cannot be done online and Fidelity doesn't penali…
This should eliminate the confusion that is possible now with T+1 for mutual funds/OEFs, but T+2 for others.
Most but not all OEFs trade T+1. Some still trade T+2. I ran into this problem a couple of months ago at Fidelity.
Fidelity will let y…
In your initial example, the person hypothetically tipping an outsider "of course ... could not share the news ... until it was publicly available." Regarding the tippee, "Unless [the tippee] knew someone and got inside information, it would have b…
Someone I help with financial stuff has an account with a brokerage that uses Pershing as its clearing house. The latest problem (can you say esoteric?):
In 2023, Puerto Rico swapped a bond held in the account for shares of a Delaware grantor tru…
For completeness ...
The cash transfer completed yesterday. The first check was issued on Jan 4. The stop payment was issued on Jan 24. The money was credited back to the brokerage on Jan 25. The brokerage took seven calendar days (5 business…
"Portfolio" as opposed to "fund" in a name is often a signal that the vehicle is designed for annuities. Nevertheless, aside from their names, they are still referred to as "funds", as in "AMT Funds".
From the SAI: "Shares of the Funds are sold t…
Unless you knew someone and got inside information, it would have been hard to take advantage of it before the news hit.
Since 1997, it has been illegal to trade on inside information even if you have no connection to the company aside from gettin…
This doesn't show the tables but it preserved the M* text (and lists all 15 "wealth destroyers") as a sidebar.
https://web.archive.org/web/20240131091956/https://www.morningstar.com/funds/15-funds-that-have-destroyed-most-wealth-over-past-decade
an unprecedented refusal
Rare, but not unprecedented. The NYTimes article at the time said only that
The decision [was] extremely unusual for Medicare, which almost always automatically pays for drugs that the F.D.A. has approved, at least for t…
Here and Now broadcast a worthwhile report on Biogen and Aduhelm, the Alzheimer’s drug.
https://www.wbur.org/news/2021/12/10/biogen-aduhelm-reckoning-alzheimers-drug
It’s not surprising that the whole biotech sector is under pressure when one its…
I chose not do do an in-kind transfer on that first one that hit the “snag.” I felt there might be a big difference between the sale price (NAV) at TRP and the “buy price” when completed.
A transfer "in-kind" means that the security itself is being…
Good piece. Like others, I write very few checks a year. One for in-office copays to a medical specialist who charges extra for credit cards. I hand the other checks to service providers in my home - for heater repairs and the like. Nothing …
The account numbers look like: 0123456789-4. Except that the "-4" in this example is not considered part of the account number.
Here's the mutual fund transfer in kind form I used (see section 1 asking for account numbers). T Rowe Price adds an…
Clearly it's important to know the precise definition of terms when reading statistics. Even back when M* was using 1 year maturities as the cutoff for cash equivalents for analyzing portfolios (i.e. before 2017), it also used the 3 month definitio…
Apparently what M* considers cash depends on the context:
Questions & Answers | Methodology
Traditionally Morningstar has treated bonds with short terms to maturity, less than 1 year, as a cash equivalent, will these holdings be included in the…
While the Treasury yield-curve is weird. It has an unusual dip in the belly. It seems that an inverted yield-curve is trying to normalize (to up-sloping), but the Fed has literally fixed the short end.
https://www.ustreasuryyieldcurve.com/
This does…
TFLO invests in floating rate treasury similar to that of USFR, WisdomTree treasury floating rate ETF.
Here's a comparison of TFLO and USFR:
https://portfolioslab.com/tools/stock-comparison/TFLO/USFR
Similar with at least a couple of curious quir…
For accounts at Fidelity,
FSIXX has a minimum of $1M. FRSXX is the Institutional class of the Treasury Only MM fund and pays slightly higher than FSIXX.
To be clear, both share classes are institutional classes; one is labeled "I", while the ot…
SNOXX will likely be fully state-taxable to you, because (at least at as of Sept 30th) only 10% of its portfolio is in Treasuries. The rest consists of repurchase agreements which makes the entire fund state-taxable for a few states (and mostly st…
I can appreciate the simplicity of having all T-IRAs in one place if one is of a "certain age" :-) I'm not, but I have likewise moved my T-IRA to one house.
Though that's largely because after having done Roth conversions for 15 years (income …
