Brokerage Link
01-20-2019, 07:03 AM
#1
Gets Weekends Off
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Joined APC: Mar 2012
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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
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Joined APC: Feb 2011
Posts: 760
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
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Posts: 3,251
Originally Posted by mispoken
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
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Joined APC: Apr 2016
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Posts: 3,251
Originally Posted by mispoken
Cool, I didn’t know that was an option. Are they fidelity funds or can you set this up with any fund?
I do recall asking about automating purchases of stock and/or ETFs in brokerage link, which at the time you couldn’t.
I do recall asking about automating purchases of stock and/or ETFs in brokerage link, which at the time you couldn’t.
01-20-2019, 01:41 PM
#7
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Joined APC: Feb 2011
Posts: 760
Originally Posted by m3113n1a1
I know I could look this up, but I'm feeling pretty lazy. What sort of trading fees does the brokerage link charge for transactions?
01-24-2019, 12:24 PM
#8
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Joined APC: Mar 2012
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Posts: 454
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
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Joined APC: Apr 2007
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Posts: 962
Originally Posted by TurbineDriver
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.
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