One of my colleagues suggested that he has $150K in Fidelity SPAXX fund which is a money market fund. Is that even a safe decision? Fidelity is big but still can't say for sure if it can't go belly up.
SiPC will insure up to 500k for joint in case brokerage has issues. Fidelity is big
I think it's 5 million since fidelity breaks your cash and move to 10 different banks internally
What are money market funds???
Copy paste this in Google search
Too lazy š„±
safest you can get
Pretty sure FDIC insured accounts are safer.
Mostly safe, and you get 5% right now.
If Fidelity ever went belly up, it would basically mean the entire US stock market has crashed beyond anyoneās worst nightmares. Money market funds are wildly safe.
Tbills yield more
When I rolled over my 401k, that was the default fund
Where do you see the interest ? I only see the amount I spend buying them. Is it annually accumulated ?
Comes out as a dividend every month
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It is widely considered safe.