SeriusBlack said:Here's my question. I currently have $7,000 in GE Stock (via an IRA) with Scottrade. Have another $3K I could put in right now toward a 2006 IRA....then along came this Fidelity deal. Thanks OP!
Why not put it into the Money Market, pay the small penalty, and pocket the $100 + higher return in the process?
(GE Stock has lost value in the past 12 months of about 30-50 cents per share. Their dividend of about 7-15% is OK)
Only problem here is the IRA penalty, although I am going to college & could pay it out. That's only about $3K though, so I'm on the hook for the other $4K in penalties.
How does this sound?

are you crazy? Unless you really need the money then DON'T cash out your IRA. The penalties are rediculous. Here's what I would do if I didn't need the cash and I mean really strapped for cash. Just sell the stock and buy a mutual fund if you aren't saavy with investing. An index fund such as the Vanguard family will be fine. There was a thread about investing earlier. BTW, the fidelity account bonuses don't apply for IRAs. Don't listen to me though, I cashed out too early in GOOG. I could've tripled what I initially bought it for.

MoneyMINTR said:are you crazy? Unless you really need the money then DON'T cash out your IRA. The penalties are rediculous. Here's what I would do if I didn't need the cash and I mean really strapped for cash. Just sell the stock and buy a mutual fund if you aren't saavy with investing. An index fund such as the Vanguard family will be fine. There was a thread about investing earlier. BTW, the fidelity account bonuses don't apply for IRAs. Don't listen to me though, I cashed out too early in GOOG. I could've tripled what I initially bought it for.
Thanks for setting my head straight..must have been an all-nighter w/no coffee
The penalties of 10% (15%???) would be much worse than any cash received. It would be nice if they had an IRA fun offering the bonus, but as you said they do not.
Still, I wish the threshold would be lower than $10,000. For $100, that's a rate of return of 1%. So that makes the entire offer worth 4.85% (not including capitalization...the earning interest part
I'll stick with my 3.50% saving account w/ ING Direct for now.
You know that Fidelity is hedging that interest rates will rise in the next few years; I wouldn't doubt a MMA will go for 5% in early 2007 if the economy recovers. That's a big IF though........

ETFnerd said:Has anyone actually used the following link reported by EFTnerd and received their $100 promotion?

https://scs.fidelity.com/products/stocksbonds/offers/100registration.shtml.cvsr



Me too

Hi,

Has anyone been successful in getting multiple bonuses under one household? (i.e. $100 bonus for $10k to husband's individual acct + $100 bonus acct for $10k to wife's separate acct - same address)?

Being the greedy FWer I am - I plan on getting $200, but don't want to list two addresses unless I have to.

Thx.

hapachino said:Hi,

Has anyone been successful in getting multiple bonuses under one household? (i.e. $100 bonus for $10k to husband's individual acct + $100 bonus acct for $10k to wife's separate acct - same address)?

Being the greedy FWer I am - I plan on getting $200, but don't want to list two addresses unless I have to.

Thx.I got the $100 and United bonus miles. One account.

b00mer said:
This deal, like many of these account opening deals are good for the person who was going to open an account anyway, but checked the forums and found out they could get a bunch of perks for when the open their account.

Yes, I would have not opened this account but for $100 and everything else is icing on the cake.
Their commission rates are still not attractive enough for me. OTOH, I may buy some mutual funds which is their main business.

When you open up a trading account with them, can you combine an existing 401k/403b fidelity account with it, so the balance is across all of them?

Yes. I access my 401k and brokerage account via the same log-in and it gives me a total of my portfolios worth. Upon log-in, i can choose what specific account i want to go to. Your "Portfolio Analysis" screen totals up all your investments from your different accounts.

Bump for 4.13%. Its higher than ED now.

fw201 said:Fidelity does not offer a taxable money market as a core account option with a non-retirement brokerage account. Our taxable option is an interest-bearing account we refer to as FCash.

It's not hard to purchase money market fund with money in FCash.

fw201 said:Could you be more specific ?

Huh? Just buy/sell the money market fund you want. Fidelity does not force you to leave the cash in FCash.