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Posted by Peregrine Maitland on November 19, 2006, 10:38 pm
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> Quote below is from the Fidelity "Brokerage Handbook", I've had my
> Fido accounts for so long that I don't recall if I previously selected
> FCR, or if that what the default when I opened out accounts.
>
> db
>
> *-*-*-*-*-
>
> What are the investment options for my Core account?
>
> For Retirement accounts like IRAs, your only Core account option is
> Fidelity Cash Reserves, a money market fund1.
>
> For Brokerage accounts, your Core is an interest-bearing cash account
> called FCASH, unless you specified otherwise when you opened your
> Fidelity Account. You can only change your Core account at any time by
> calling a Fidelity Representative at 1-800-544-6666. You cannot change
> your Core account online. Your other choices are:
[SNIP]
The Fidelity statement is a bit misleading, since brokerage accounts can be
tax deferred (as with IRAs, 401Ks) or taxable. In the case of Fidelity tax
deferred brokerage accounts, the only core account option is a money market
mutual fund called Cash Reserves. When a brokerage account is taxable there
are various tax free (at least from a Federal perspective in whole or part
and sometimes state-tax free as well) money market mutual funds that are
available.
Peregrine
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