Best Fidelity Money Market Account to Hold Cash?

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dcdowden
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Joined: Sun Sep 28, 2014 11:42 am

Re: Best Fidelity Money Market Account to Hold Cash?

Post by dcdowden »

I use ICSH iShares Ultra Short Term Bond at Fidelity which currently yields 2.34% with an ER of .08.
jsaver
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Joined: Mon Aug 19, 2019 2:58 pm

Re: Best Fidelity Money Market Account to Hold Cash?

Post by jsaver »

SpaethCo wrote: Fri Aug 30, 2019 2:43 pm
jsaver wrote: Fri Aug 30, 2019 2:13 pm FZDXX currently has a 7-day yield of 2.20%: https://fundresearch.fidelity.com/mutua ... /31617H805
As of 7/31.

Click on the "Performance & Risk" tab, the 7 day yield is 2.01% effective 8/29.
Ah, thanks I knew I had to be missing something, and the something was the fine print.

I think I'll take this as an opportunity to start up auto-rolingl three-month T-bills.
penumbra
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Re: Best Fidelity Money Market Account to Hold Cash?

Post by penumbra »

I know it's not for everyone, but for an initial (much) higher minimum, FMPXX has a current 7 day yield of 2.15%. It's worked for me in after tax accounts.

In taxable (I'm in CA), I use FSBXX for a 7 day yield of 1.14%. I'm in the highest bracket.
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sarabayo
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Re: Best Fidelity Money Market Account to Hold Cash?

Post by sarabayo »

You can query for a table of historical information about all Fidelity's money market funds, including the daily, 7-day, and 30-day yields, at this URL:

https://institutional.fidelity.com/app/funds/hpdy
MikeMak27
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Joined: Fri Jul 03, 2015 4:37 am

Re: Best Fidelity Money Market Account to Hold Cash?

Post by MikeMak27 »

dcdowden wrote: Fri Aug 30, 2019 3:00 pm I use ICSH iShares Ultra Short Term Bond at Fidelity which currently yields 2.34% with an ER of .08.
Can this be used in a Fidelity Cash management account where the fund is liquidated to pay bills electronically, with draw money from an atm, pay the fidelity credit card, etc?
Mak 3 fund portfolio: 50% US small cap value & US Small cap (IJS, IJR), 40% Emerging Markets (IEMG, VWO, FPADX), 10% US REIT (VNQ)
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sarabayo
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Re: Best Fidelity Money Market Account to Hold Cash?

Post by sarabayo »

MikeMak27 wrote: Sat Aug 31, 2019 3:03 am
dcdowden wrote: Fri Aug 30, 2019 3:00 pm I use ICSH iShares Ultra Short Term Bond at Fidelity which currently yields 2.34% with an ER of .08.
Can this be used in a Fidelity Cash management account where the fund is liquidated to pay bills electronically, with draw money from an atm, pay the fidelity credit card, etc?
They will only automatically liquidate money market funds.
anilj
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Joined: Mon Oct 14, 2019 1:24 pm

Re: Best Fidelity Money Market Account to Hold Cash?

Post by anilj »

sarabayo wrote: Tue Jul 16, 2019 5:07 pm
engineerbme wrote: Tue Jul 16, 2019 2:47 pm with interest rates going down and the 7-day yield falling for SPRXX and SPAXX, is the advice the same?
Thanks for the heads up. It looks like, for my tax brackets, FDLXX has dipped below FDRXX as of Jun 27 or so, so I've put in an order to switch.
@sarabayo can you share that spreadsheet of yours (again)? I am also in CA and would love to play around with the data!

Also, is FSPXX excluded only from CA AMT taxes? If you don't owe AMT, is it taxed at your CA tax rate?
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