Very helpful! If I may get a further clarification, FCASH is checking, SPAXX is saving #1, and what do you use for saving #2?

The core sweep account in a save&spend account is FCASH. You could go ahead and buy SPAXX or any other fund you like. FLRN is a pretty good ETF, currently pays 5.91%. But it is a bond fund, so the price goes up and down.
For a money market fund, I like FDLXX (FIDELITY TREASURY ONLY MONEY MARKET FUND). It yields about the same as SPAXX but is state income tax free. Again, it is not a possible sweep account so you have to manually buy it.

The neat thing is that when they do a self-funded overdraft pull from your #2 (investment account), they first pull from the core (SPAXX) and then from any other non-core Fidelity MM fund. So if you had FDLXX it would pull from that, but it would not pull from FLRN because FLRN isn't a MM.



Would Fido allow two different SPAXX accts?

Sure, no problem. You can have many accounts, and each one can have any holding. There is no problem having the same holding in different accounts.

Retirement Investing FAQ

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