Here's what a Fidelity rep just told me (on Sunday no less when I've usually found less informed people). Contrary to what I've been told before (perhaps the reps misunderstood, I can indeed move $$ from my individual account or HIS individual account into our joint account.nonnie wrote: ↑Sun Jul 31, 2022 3:44 pmTo qualify for FDZXX, the premium fund (highest paying unless one has $1M) one only needs *initial* balance of $100K (only $10K for retirement). Once that minimum is met, we can let the balance get as low as $1 as I understand it. FDZXX has been averaging 40 basis points higher---recent 1 day yield of 2.08% than our SPAXX core account. We will be holding minimal immediate emergency cash needs in that account ( I know folks consider Ibonds as an "emergency fund" but I worked too hard to buy those!) and then buying a either a 4 rung or 6 rung ladder of Treasuries/CDs to fund our every 3 month cash need of $22K. I don't want a bond fund for this.muffins14 wrote: ↑Sun Jul 31, 2022 3:16 pm You don’t really “need” 100k for anything, except some money market fund. Even below 100k, you can get a money market that is adequate. I would hope you don’t feel a need to hold 50-100k in cash as opposed to maybe a short muni bond or treasury fund, which you can buy via ETF
So, my quest right now is to get the initial $100K into the joint to be able to invest in FDZXX and it's cumbersome because I didn't think of using Fido one-stop before.
Thanks for your comment, I hope I'm understanding correctly.
BUT HERE'S THE NEW INFO--if I transfer from our individual accounts that are currently holding FDZXX into the joint account AND so do it in shares of FDZXX (don't hit the dollar button) our joint account has now qualified (without having to hit the $100K balance at least once) to now be able to always use FDZXX. I hope this is true and I guess it's always about asking the right questions!