Good video! My main concern is risk.. I'm trying to find out the risks of spaxx. For instance. When is the last time spaxx lost its 1-1 equivalent if ever? That is what I am trying to figure out. Were in murky waters right now and I don't want to loose all my money if we have a financial crisis etc....
So I checked my fidelity account and seen some money in my SPAXX account but I can’t sell (not that I want to) but curious to see if I have to close my acc to receive the funds or what
So I am new to this. So for example an SPAXX, are you reported and taxed on dividends if you select to have them reinvested? I currently have a high yield savings paying 4% but wanting to move over to fidelity to either cd’s , money market or mutual funds to earn a better return. I am also in the middle of transferring my Wells Fargo ira in which I am paying them $300 plus per month to do nothing over to fidelity and maybe putting that in mutual funds. So many options for someone raw
My core for the time being is FZDXX. ..Will use the money to buy short term CD's which are really attractive now and not so vulnerable to the banksters' .
@@OptimizedPortfolio so even if the treasury mmf has treasuries, the interest gained is not taxed like its treasuries? It’s reported as ordinary income? I thought it was only taxed federally in that fund
Really I only put all my account cores into SPAXX thinking it would consolidate my holdings when listed but sadly Fidelity shows them individually per account.
Fidelity clearly takes opposite sides of its own customers retail trades and forces them to liquidate at a loss. They are able to see what orders are in place and trade against you. I’ve lost my life savings because of this trash brokerage company and should sue them
@@Ronfosh Not sure you understand how this account feature works. It's just where cash is deposited to and withdrawn from automatically anytime you buy or sell. Transactions also usually take a couple business days to settle before you can transfer out.
New, updated video for 2024 here: th-cam.com/video/TXVL4OFu0A4/w-d-xo.html
FZFXX! 4.03% today! 🎉
@@CrazyWormLady Thanks for sharing, Kelly! Sounds great.
Spaxx in my Ira, in my hsa I’m not sure. Lol I think it’s fmaxx ?
I looked at them Friday and exact same yield
Don’t keep much in either
It is fdrxx
Fdrxx
Nice video! SPAXX is Almost over 5% as of 8/25/2023! -- Higher for longer!
Thanks!
@@CRVgarage Goes directly into SPAXX by default in Fidelity brokerage account.
You can move elsewhere immediately or cash out immediately from SPAXX.
Bidenomics 🙄
and suddenly im mainly in SPAXX with most of my capital. i feel we have awhile to go in this interest rate cycle.
Thanks for sharing, Evan!
SPAXX isn't FDIC insured, but it is insured under SIPC.
Indeed
Good video! My main concern is risk.. I'm trying to find out the risks of spaxx. For instance. When is the last time spaxx lost its 1-1 equivalent if ever? That is what I am trying to figure out. Were in murky waters right now and I don't want to loose all my money if we have a financial crisis etc....
There was a MMF in 2008 that lost some money. Im moving to FDIC at Fidelity sometime this summer before September
SPAXX has never lost its 1-1. Always has been $1.
Have the soup. At least you won't go hungry.
I'm trying to decide.
So I checked my fidelity account and seen some money in my SPAXX account but I can’t sell (not that I want to) but curious to see if I have to close my acc to receive the funds or what
No. You can withdraw to cash.
Doesn't the yield include the fee? i.e. as of this writing my yield on FDRXX is 4.04
You're right; I'm an idiot. Looks like FDRXX is indeed still the most attractive of the money market funds.
So I am new to this. So for example an SPAXX, are you reported and taxed on dividends if you select to have them reinvested? I currently have a high yield savings paying 4% but wanting to move over to fidelity to either cd’s , money market or mutual funds to earn a better return. I am also in the middle of transferring my Wells Fargo ira in which I am paying them $300 plus per month to do nothing over to fidelity and maybe putting that in mutual funds. So many options for someone raw
Yes, unfortunately still taxed on dividends regardless of whether or not they are reinvested.
Thank you!
Thanks for watching!
Say I choose FZFXX as my Core. Will all future deposits go into it or will I have to do something again??
Correct, all future deposits will go to it so you only need to select it once.
Thank you.
Anytime!
My core for the time being is FZDXX. ..Will use the money to buy short term CD's which are really attractive now and not so vulnerable to the banksters' .
Thanks for sharing!
isn't capital gains on the treasury money market half taxed if it's underlying securities gains are half taxed? elaborate?
MMF shouldn't have cap gains. Interest taxed as income as usual.
@@OptimizedPortfolio so even if the treasury mmf has treasuries, the interest gained is not taxed like its treasuries? It’s reported as ordinary income? I thought it was only taxed federally in that fund
@@kaltrex9465 True. Treasuries are state-tax-free. Still reported as income. Didn't know what you meant by "half taxed."
@@OptimizedPortfolio I was under the impression interest from a treasury mmf was state tax free And municipal Mmf makes totally tax free interest?
@@kaltrex9465 Correct
thankyou ❤
Thank YOU
I transferred 10k and got 10k spaxx that I can not even buy stocks with or sell or transfer out.
Doesn't make sense. Maybe the transaction hasn't settled yet?
Really I only put all my account cores into SPAXX thinking it would consolidate my holdings when listed but sadly Fidelity shows them individually per account.
Yea securities can't be shared across different accounts.
Why would anyone choose SPAXX over SPRXX??
SPRXX may not be available as a choice for the Fidelity core position.
@@OptimizedPortfolio in what scenario?
@@snagboi In the scenario where it's not one of the options for you to choose in there.
@@OptimizedPortfolio it's like being able to buy apple and not Microsoft. 🙄
@@snagboi I don't know, man, I just work here. Fidelity gives you several options to choose from to designate as your core position. Ask them.
I'll just have a bowl of vegetable soup.
Excellent.
SPAXX
Thanks for watching!
Good video but you just said information I can already find on the fidelity website.
And yet, these are some of my most popular videos. It's a widely searched topic. You described most TH-cam videos in the financial space.
Fidelity clearly takes opposite sides of its own customers retail trades and forces them to liquidate at a loss. They are able to see what orders are in place and trade against you. I’ve lost my life savings because of this trash brokerage company and should sue them
I transferred 10k and got 10k spaxx that I can not even buy stocks with or sell or transfer out.
@@Ronfosh Not sure you understand how this account feature works. It's just where cash is deposited to and withdrawn from automatically anytime you buy or sell. Transactions also usually take a couple business days to settle before you can transfer out.
Lol