You can estimate the forgone interest by multiplying whatever interest you currently get on your Schwab checking account by about 10. Schwab pays 0.45% and you'd earn about 5% at Fidelity, so the difference is 4.5% which is 10 x 0.45%. If you keep any cash in the brokerage account you can multiply interest on that by 10, as well.I don’t think it is worth the hassle to switch my checking/bill pay to Fidelity even though my HSA is there.
Do you all think it makes any sense to have day to day checking and living expenses all at Fidelity and all investments at Schwab?
My wife likes the idea because she is worried someone can hack our Schwab Bank acct and get into our brokerage.
We actually have a Fidelity office and a Schwab office 5 minutes from our house.
My wife will need help if it falls on her so trying to prepare in case that happens.
Statistics: Posted by jeffyscott — Fri Jun 21, 2024 6:50 am — Replies 25 — Views 1591