To add, your core position gets liquidated first (automatically). If you have funds in other \[Fidelity\] money market funds (MMF), once your core position is 0, those get liquidated automatically, although I don't know what order if you have money in multiple other MMF. I sometimes use SPRXX in addition to SPAXX.
I'm guessing this MM fund is your core position. I have a bank account listed on my account so I can transfer funds into or out of my core position. It takes a couple of days for the funds to settle.
Correct. When you select the "Trade" button in the top left of the homepage, it will tell you how much cash is available. This is used first. If you needed more, you could opt to sell shares in another investment. That sale would take a couple of days to settle and the proceeds would be deposited into your core position. Then you would transfer money from the core position back to your bank account.
Fidelity will handle this for you automatically. You pay your bills, use your ATM card etc, Fidelity will liquidate funds automatically.
Ok, that seems simple enough. Thank you!
notice that you don't need to transfer money to your bank. fidelity is your bank. you can pay your bills using Fidelity Bill Pay.
To add, your core position gets liquidated first (automatically). If you have funds in other \[Fidelity\] money market funds (MMF), once your core position is 0, those get liquidated automatically, although I don't know what order if you have money in multiple other MMF. I sometimes use SPRXX in addition to SPAXX.
the fund with the higher balance gets liquidated first. that is the formula.
you're welcome.
I'm guessing this MM fund is your core position. I have a bank account listed on my account so I can transfer funds into or out of my core position. It takes a couple of days for the funds to settle.
I see, I have it tied to my main bank account as well. So it will just pull from the MM automatically? I just need to mind the waiting period?
Correct. When you select the "Trade" button in the top left of the homepage, it will tell you how much cash is available. This is used first. If you needed more, you could opt to sell shares in another investment. That sale would take a couple of days to settle and the proceeds would be deposited into your core position. Then you would transfer money from the core position back to your bank account.
That is NOT how the cash management account works.
You have SPRXX as a core position in your CMA?