FlyerTalk Forums - View Single Post - Fidelity, what to do?

Jan 29, 2012 | 12:02 pm

#2

mnscout

Join Date: Dec 2003

Location: Brooklyn, NY, United States

Programs: AA, BA, UA, Spirit, Delta, PC Plat, SPG Gold, HHonors Diamond, Club Carlson Gold, Marriott Gold

Posts: 1,735

Quote:

Originally Posted by nature1370

Hi,

I do not really know what category this could fall in. It is not about credit issue, so sorry mod if this post is in a wrong place.

Currently I have around $700 in my IRA account at Fidelity. From my past experience, if I take out this amount, I would face a penalty charge for an amount which is below $1000. I do not know what to do to make this $700 in something valuable like points or miles or have a way to get out this money by doing something/transfer to where that I can have a minimal loss. If someone here has any ideas, please have your valuable inputs. Thanks for your help in advance.

There is absolutely nothing you can do with just $700 at Fidelity. Any kind of bonuses begins with $25,000, and IRA accounts do not qualify anyway if memory serves me. Just keep it there for now, or if you need this money right away take it out and eat the loss.