To op:I'm a fairly new investor who inherited a little over a million dollars a few months ago. So now I have about $600k of it invested with a Fidelity S&P 500 fund (FXAIX), and the other $550k is divided up into 3 different banks that are all around 5% APY. So I'm wondering if maybe I should take the $550k out of all the bank accounts, and then try to find a better place to consolidate all of it, as long as it also has zero risk and at least a 5% return. But I don't know much about investing, so does anyone know if Fidelity has any sort of an account with a fixed rate of return of at least 5 percent? Or would CDs or treasury bonds be a good way to go? I think I would probably rather have all of my money consolidated together at Fidelity, rather than have it spread out between several different banks, but I don't know anything about investing in CDs, treasuries, or bonds. So at this point I'm just trying to figure out the simplest and easiest way to invest it in a way that is risk free. What is my best option here?
You can do CD (new issue) ladders and Treasury Ladders (not funds), in your Fidelity account.
There's no need to spread it out in different banks.
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Statistics: Posted by Sandtrap — Tue Aug 06, 2024 2:25 pm — Replies 1 — Views 146