I didn't say that it the best option. You missed the comment: Look for other cash position options at ME and they are pretty good.Ummm, that was uncalled for, and not in the spirit of Bogleheads.
Reminds me of how ChatGPT can be super confident but it could provide incorrect information.
ME has pretty good options for cash position. e.g. You can get FSIXX Fidelity® Investments Money Market Treasury Only Class which requires $1M minimum at fidelity. The interest rate is higher than what fidelity's best option is for the core position which is FDLXX.
Look for other cash position options at ME and they are pretty good. There is thread where I discussed the optimizations (sorry, don't have time to find it right now) but you can try. idea is to minimize the loss of interest while money is transferred since transfer from BoFA to ME is instantaneous.
I am a user of ML-E/BoA and was not aware of the other cash options and gave a great write-up where I spent time contributing to this forum, first, before any discussion and then it evolved and covered your mockery over a day ago. The truth is that it is clunky to deal with if you don't need a second broker. But, as this is a discussion and we all learn from each other as the topic evolves, SP000 told me about the options available, without snarky replies like you did and you've ignored everything where that was discussed including where I thanked him for the tip. And in the spirit of helping, the best deal currently in ML is not FSIXX as you mentioned Best are:
1) BlackRock Liquidity Funds: FedFund --- Institutional Class * TFDXX 3.83%
2) Fidelity Investments Money Market Government Portfolio --- Class I* FIGXX 3.85%
Originally as discussed above in the helpful and friendly discussion the cash position is fine if you want to deal with it, and the better yields were reversed (Friday at that time) between the two mentioned, so both are competitive and this is the Dec 5 update of rates. However a tip is to consider TFDXX first, as it is same day settlement till 5PM, vs. FIGXX which is same day till 1:45PM. This can come in handy when purchasing securities as the bond market, like T-Bills closes at 5:00PM, an hour after stocks at 4:00PM allowing additional flexibility if you ever need that when trading. Hope that helps.
Now, it is clear why the above bold part is wrong.There is no reason to open the Merrill account except to get the status for the preferred rewards on the credit card or to avoid BoA account fees.
Statistics: Posted by babystep — Sun Dec 07, 2025 12:53 am — Replies 24 — Views 1693