Much easier way to do it is custodian to custodian direct transfer.
That sounds like a nightmare. Just do an ACAT.
Yes, see my horror story from the personal finance thread trying to take custody of my funds during a transfer:
Unrelated to the current discussion but to update on my personal struggles:
The 7-10 days they quoted was bullshit, I never heard back. Someone responded to the CFPB complaint initially but then ghosted me for over a week. I went online to get my tax forms to start running through the implications of what my return would look like with this mess and I noticed they put my old address on the form. I moved last June, updated my addresses with everyone ASAP back then, and confirmed that my profile was showing my new address before I closed my HSA, because obviously I don’t want them sending a check for tens of thousands of dollars to whoever lives at my old apartment now. But that’s what they did. I wrote back to the person who was handling my CFPB complaint asking her to look into the address issue but she was still ghosting me, I called customer service again and asked if they could confirm what address they mailed the check to and they were like oh yeah we sent that to your old address. So finally after almost two months I’ve got my check, still waiting another week for my bank to clear the funds though. I think I’ll be OK on the tax front but I’ve missed out on a 10% rise in the SP500 and counting.
Moral of the story, don’t take custody of your money during a transfer and don’t ever open an Optum HSA. If I ever get back on a HDHP I’ll make my own contributions before I open another Optum account.
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Easier, but slower, right?
just got this, mashing buy I think
No, almost certainly easier and faster
I figured the fastest way to get money into the new Roth was to move it from an account with that same brokerage, should be instantaneous right?
Think spidercrab is the IPO wizard. I had one awhile back for a doctor website I was user of and he said actually looked pretty good and I got an immediate +90% when it opened for trading
Interesting Money Stuff today: Put the Money in the BOXX (unfortunately couldn’t find a non-paywall link, but what are you doing with your life if you aren’t already getting this by email every day), mostly talking about this article (non-paywall):
tl;dr: get short-term treasury rate returns on an ETF, which you can sell for capital gains rates instead of earning interest income at normal tax rates.
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More people having the stock means more people can sell it and drive the price down is what they mean by more volatility isn’t it? Seems like a sure buy and hold stock assuming they’ve figured out hot to make money…
I think in the future this sort of content is going to be super valuable. Especially since there’s billions of lines of text that they have the full exclusive rights to (yes, I know its all user generated, lol us) and the big kicker is its mostly before the AI epoch of ~1/1/2023. By that I mean AFAIK they own the biggest collection of “for sure written by humans and not computers” text in the world and it always will be since we’re post-epoch.
(well OK meta and probably google has more but this is very focused content and not trillions of lines of “happy birthday grandma”)
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lol.
(tim apple was paid $63mm)
I got one of these too. I wonder what the cutoff is. Honestly just assumed it would be low key shitty
Just that stat alone makes it feel like they looking for bag holders lol
I think it might depend on the exact relationship between the brokerage’s taxable investment accounts and IRA’s, so maybe not instantaneous but maybe. In that respect, yes, it could be faster and almost certainly not slower. I thought you were talking about the time to complete the entire process. Why is there a rush to get the new IRA funded? If it’s to avoid time out of the market I assume you’ve looked into transferring the assets without liquidating and that’s not an option?
I want to open new positions, but they’re foreign stocks I can’t trade at my current brokerage. I’m hopefully going to finish my research tomorrow so I’d like to buy the new stocks by Monday.
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In that case I think your plan could work. I think we’ve discussed all the potential pitfalls and disadvantages but if getting the new IRA funded by Monday is the more important consideration that’s up to you.
Haha Warner Brothers down 11% how the hell does this clown still have a job.
NYCB raising $1B of capital, was trading with a market cap of $1.3B before trading halted - already down around 80% ytd.