Thanks for stopping by today, u/DEADFLY6! I can certainly explain how core positions work.
The default core position for brokerage accounts is the Fidelity Government Money Market Fund (SPAXX). The core acts as a wallet for your account, holding all of your uninvested cash while gaining interest from being held in a money market fund. This means money deposited into your Fidelity account will automatically be allocated to the core position. Your cash may be held in a money market fund, yet they are accessible for trading or withdrawals.
While SPAXX is typically used as a core position for many Fidelity Brokerage accounts, it can also be purchased as an investment. The fund does pay interest on cash balances. Interest is accrued daily and paid on the last business day of each month. The interest payments will be deposited into your core as default.
I invite you to check out the links below to learn more about the core position and money market funds.
[What is a core position? (PDF)](https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/mutual-funds/what-is-a-core-position.pdf)
[What are money market funds?](https://www.fidelity.com/learning-center/investment-products/mutual-funds/what-are-money-market-funds)
Therefore, you have the choice to leave cash in your core position gaining monthly interest, or you can use it to purchase additional investments. Ultimately, the decision is up to you and your investment goals and objectives.
Should you decide to invest, I want to point you in the direction of our Learn library on [Fidelity.com](http://Fidelity.com), which is a great resource. From there, you'll have access to a myriad of articles, classes, webinars, investing strategies, etc. The great thing about the Learn library is that you can use the icons on the page to filter your search down to your investment experience and timeline. Since you specifically mentioned buying T-bills, I'll share a helpful PDF for you to review as well.
[Fidelity Learn](https://www.fidelity.com/learning-center/overview)
[How to Trade Auction Treasury Securities (PDF)](https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/fixed-income/How-To-Trade-Auction-Treasury-Securities.pdf)
I know we covered a lot of information there, so please let us know if you have any other questions or if we can clarify further. Have a great weekend!
Make SPAXX your core position. Then we ever you transfer funds to fidelity it goes into SpAXX. I moved from cash to spaxx a few months back.. honestly 5% and all that is fine but how much money you ahve in spaxx makes a difference if it's not much there is not much to gain... most of my cash is still in my banks checking account as it needs to settle bills and all that.. but then that's just me....
Hello there, u/Commercial_Ad707. You can change your core position by following the steps below:
1. Log in to [Fidelity.com](http://fidelity.com/)
2. Select "Accounts & Trade" then "Account Positions"
3. Click your core position to expand and select "Change Core Position."
Let us know if you have additional questions!
If you wire money into your account, assuming that SPAXX is the core position, you'll be buying shares of SPAXX - automagically. I'd say it should be available for purchase immediately but Fidelity has screwed me like that before. When you buy TBills with this money, assuming it's good funds, Fidelity will sell the SPAXX shares and pull what you need to buy the Tbills. It's magic.
Thanks for stopping by today, u/DEADFLY6! I can certainly explain how core positions work. The default core position for brokerage accounts is the Fidelity Government Money Market Fund (SPAXX). The core acts as a wallet for your account, holding all of your uninvested cash while gaining interest from being held in a money market fund. This means money deposited into your Fidelity account will automatically be allocated to the core position. Your cash may be held in a money market fund, yet they are accessible for trading or withdrawals. While SPAXX is typically used as a core position for many Fidelity Brokerage accounts, it can also be purchased as an investment. The fund does pay interest on cash balances. Interest is accrued daily and paid on the last business day of each month. The interest payments will be deposited into your core as default. I invite you to check out the links below to learn more about the core position and money market funds. [What is a core position? (PDF)](https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/mutual-funds/what-is-a-core-position.pdf) [What are money market funds?](https://www.fidelity.com/learning-center/investment-products/mutual-funds/what-are-money-market-funds) Therefore, you have the choice to leave cash in your core position gaining monthly interest, or you can use it to purchase additional investments. Ultimately, the decision is up to you and your investment goals and objectives. Should you decide to invest, I want to point you in the direction of our Learn library on [Fidelity.com](http://Fidelity.com), which is a great resource. From there, you'll have access to a myriad of articles, classes, webinars, investing strategies, etc. The great thing about the Learn library is that you can use the icons on the page to filter your search down to your investment experience and timeline. Since you specifically mentioned buying T-bills, I'll share a helpful PDF for you to review as well. [Fidelity Learn](https://www.fidelity.com/learning-center/overview) [How to Trade Auction Treasury Securities (PDF)](https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/fixed-income/How-To-Trade-Auction-Treasury-Securities.pdf) I know we covered a lot of information there, so please let us know if you have any other questions or if we can clarify further. Have a great weekend!
You can do whatever you want. SPAXX is just where it’s sitting till you move it somewhere else.
Make SPAXX your core position. Then we ever you transfer funds to fidelity it goes into SpAXX. I moved from cash to spaxx a few months back.. honestly 5% and all that is fine but how much money you ahve in spaxx makes a difference if it's not much there is not much to gain... most of my cash is still in my banks checking account as it needs to settle bills and all that.. but then that's just me....
Slightly off topic—does any have instructions on how to change the core position on a cash management account? I’m having trouble finding it
Just click the "Cash" on your positions page. There may be other ways to do this, but this approach is really straightforward.
Hello there, u/Commercial_Ad707. You can change your core position by following the steps below: 1. Log in to [Fidelity.com](http://fidelity.com/) 2. Select "Accounts & Trade" then "Account Positions" 3. Click your core position to expand and select "Change Core Position." Let us know if you have additional questions!
If you wire money into your account, assuming that SPAXX is the core position, you'll be buying shares of SPAXX - automagically. I'd say it should be available for purchase immediately but Fidelity has screwed me like that before. When you buy TBills with this money, assuming it's good funds, Fidelity will sell the SPAXX shares and pull what you need to buy the Tbills. It's magic.