Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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Fidelity cash management account provides a feature: It auto liquidates money market funds upon transfer/withdraw after the core position (cash) has been used up. Does Schwab provide similar features? Just wondering, might be interested to move there.
No, Schwab doesn't do that.
and it irritates the living crap out of me...
Managing ins and outs in cash and money market balances at Schwab provides regular math-based activities for customers, thus I consider it a plus.
70/30 AA for life, Global market cap equity. Rebalance if fixed income <25% or >35%. Weighted ER< .10%. 5% of annual portfolio balance SWR, Proportional (to AA) withdrawals.
That is how they make much of their $$$ and I am determined to not help them. For small stuff, you can buy/sell one of their money market funds with no frequency limit. For larger stuff you can move to an external high yield savings account that has limits on how many times you can withdraw/statement period. The Schwab ACH (moneylink) system is very good and will get funds the next day if the order is done early enough........but you are the automation that makes it work (or not)