Brokerage Link
01-20-2019 | 07:03 AM
#1
Thread Starter
Line Holder
Joined: Mar 2012
Posts: 458
Likes: 1
From: 320B
Brokerage Link
I have always just used the DPSP options in our 401k but now I want access to more mutual fund options and want to use the brokerage link.
What should I know about the brokerage link? Any additional fees? Does money go into the brokerage link automatically or so I do it manually every 2 weeks? Can I still do a 401a to Roth IRA? Can I have ALL my money in the brokerage link?
Any info you can provide on this would be great. Thanks!
What should I know about the brokerage link? Any additional fees? Does money go into the brokerage link automatically or so I do it manually every 2 weeks? Can I still do a 401a to Roth IRA? Can I have ALL my money in the brokerage link?
Any info you can provide on this would be great. Thanks!
01-20-2019 | 07:20 AM
#2
Line Holder
Joined: Feb 2011
Posts: 782
Likes: 0
You can automate it. Essentially, what happens is the contributions get sent to DPSP and then transferred into the brokerage link account. You can set this up under the contributions tab on the 401k.com website. It can be slightly confusing at first, so I recommend calling fidelity to help set it up on the first go around, they’re always extremely helpful.
Once the money is in the brokerage link, those transactions will need to them happen manually. So if you want to buy an ETF or stock you would make those purchase at intervals of your choosing. When the money isn’t invested it sits in the account, essentially, as cash.
Once the money is in the brokerage link, those transactions will need to them happen manually. So if you want to buy an ETF or stock you would make those purchase at intervals of your choosing. When the money isn’t invested it sits in the account, essentially, as cash.
Last edited by mispoken; 01-20-2019 at 08:05 AM. Reason: Incorrect statement deleted
01-20-2019 | 07:59 AM
#3
Gets Weekends Off
Joined: Apr 2016
Posts: 3,922
Likes: 138
From: Looking left
You can automate it. Essentially, what happens is the contributions get sent to DPSP and then transferred into the brokerage link account. You can set this up under the contributions tab on the 401k.com website. It can be slightly confusing at first, so I recommend calling fidelity to help set it up on the first go around, they’re always extremely helpful.
Once the money is in the brokerage link, those transactions will need to them happen manually. So if you want to buy an ETF, stock or a specific mutual fund you would make those purchase at intervals of your choosing. When the money isn’t invested it sits in the account, essentially, as cash.
Once the money is in the brokerage link, those transactions will need to them happen manually. So if you want to buy an ETF, stock or a specific mutual fund you would make those purchase at intervals of your choosing. When the money isn’t invested it sits in the account, essentially, as cash.
01-20-2019 | 09:32 AM
#6
Gets Weekends Off
Joined: Apr 2016
Posts: 3,922
Likes: 138
From: Looking left
I have two fidelity and two non fidelity mutual funds. Not sure about stocks or ETF’s
01-20-2019 | 01:41 PM
#7
Line Holder
Joined: Feb 2011
Posts: 782
Likes: 0
01-24-2019 | 12:24 PM
#8
Thread Starter
Line Holder
Joined: Mar 2012
Posts: 458
Likes: 1
From: 320B
Thanks. Question for you guys who do the mega back door roth (401a to Roth IRA).
When you have the money transferred from brokeragelink every 2 weeks into your ROTH IRA, what do you guys do with the earnings? My understanding is that you can transfer after tax money to the Roth IRA and you can either transfer the earnings to Roth IRA as well (and pay the taxes on them), or transfer earnings into a traditional IRA.
Or is there a way to have money going into brokeragelink go to a money market so there isn’t any earnings before it’s transferred to a ROTH IRA?
It seems like it would be a pain to select a money market because then you would have to buy the funds you want every 2 weeks rather than do the auto invest feature.
When you have the money transferred from brokeragelink every 2 weeks into your ROTH IRA, what do you guys do with the earnings? My understanding is that you can transfer after tax money to the Roth IRA and you can either transfer the earnings to Roth IRA as well (and pay the taxes on them), or transfer earnings into a traditional IRA.
Or is there a way to have money going into brokeragelink go to a money market so there isn’t any earnings before it’s transferred to a ROTH IRA?
It seems like it would be a pain to select a money market because then you would have to buy the funds you want every 2 weeks rather than do the auto invest feature.
01-24-2019 | 01:21 PM
#9
Gets Weekends Off
Joined: Apr 2007
Posts: 963
Likes: 0
From: Up front
Thanks. Question for you guys who do the mega back door roth (401a to Roth IRA).
When you have the money transferred from brokeragelink every 2 weeks into your ROTH IRA, what do you guys do with the earnings? My understanding is that you can transfer after tax money to the Roth IRA and you can either transfer the earnings to Roth IRA as well (and pay the taxes on them), or transfer earnings into a traditional IRA.
Or is there a way to have money going into brokeragelink go to a money market so there isn’t any earnings before it’s transferred to a ROTH IRA?
It seems like it would be a pain to select a money market because then you would have to buy the funds you want every 2 weeks rather than do the auto invest feature.
When you have the money transferred from brokeragelink every 2 weeks into your ROTH IRA, what do you guys do with the earnings? My understanding is that you can transfer after tax money to the Roth IRA and you can either transfer the earnings to Roth IRA as well (and pay the taxes on them), or transfer earnings into a traditional IRA.
Or is there a way to have money going into brokeragelink go to a money market so there isn’t any earnings before it’s transferred to a ROTH IRA?
It seems like it would be a pain to select a money market because then you would have to buy the funds you want every 2 weeks rather than do the auto invest feature.
Thread
Thread Starter
Forum
Replies
Last Post
