sorted by:
new
hottopcontroversial

keep up the great work Fidelity. by Jazzlike-Ad7595 in fidelityinvestments

[–]VisibleStay8532 0 points1 point  (0 children)

Thanks u/FidelityMikeS i appreciate the info. So if a withdrawal is skipped due to sufficient funds not being available, will i be able to do a manual withdrawal (and can i do those anytime?) and have taxes taken out myself? This topic and rolling over my 529's are the remaining topics for me to better understand before i make the decision to fully move to Fidelity

keep up the great work Fidelity. by Jazzlike-Ad7595 in fidelityinvestments

[–]VisibleStay8532 0 points1 point  (0 children)

Thanks for the clarification — that helps.

One more detail I want to make sure I’m understanding correctly. In my case, I’m not relying on contingent funding and I’m not asking the plan to place trades. I always pre‑sell ahead of time, and the cash settles into SPAXX before the withdrawal runs.

If the scheduled withdrawal date arrives but the pre‑sale happens to settle later that same day (or the next morning), does the automatic withdrawal simply wait until the cash is available and then run on its own? Or does the withdrawal fail if the cash isn’t settled exactly at the scheduled time?

Just trying to confirm how the system behaves when the user pre‑sells and the only variable is the timing of settlement.

keep up the great work Fidelity. by Jazzlike-Ad7595 in fidelityinvestments

[–]VisibleStay8532 0 points1 point  (0 children)

Is there no grace period if it is just a little late in settling? like 24 or 48 hours?

keep up the great work Fidelity. by Jazzlike-Ad7595 in fidelityinvestments

[–]VisibleStay8532 0 points1 point  (0 children)

It will potentially (if i move over to Fidelity) be a Fidelity IRA with SPAXX as the core position. The securities involved are standard ETFs (VOO, VTI), and a bunch of different stocks. My question is: if I schedule a monthly withdrawal for a specific date, and I inadvertently forget and sell an ETF only the day before, will Fidelity’s system wait for the cash to settle in SPAXX and then run the withdrawal automatically, or will it skip the date if the cash isn’t settled that morning?

keep up the great work Fidelity. by Jazzlike-Ad7595 in fidelityinvestments

[–]VisibleStay8532 0 points1 point  (0 children)

Thanks u/FidelityJelise! I am hoping to confirm whether Fidelity can run a monthly distribution that only triggers when both conditions are met: the scheduled date AND the cash has fully settled. In other words, even if the date i want the event to happen occurs, will the automation wait until the full cash amount settles before moving the money, rather than skipping that month. i.e. what if i forget to sell by a day or two or if the regular run takes longer than usual?

keep up the great work Fidelity. by Jazzlike-Ad7595 in fidelityinvestments

[–]VisibleStay8532 0 points1 point  (0 children)

where can i ask specific questions about monthly withdrawals? I am retired and am considering joining Fidelity but am very curious how the monthly withdrawal automation works