Originally Posted by allen074
HI all - I am so ready to open the ameritrade account -- couple of items to confirm please:
1. if i do the $10k opening - can i put in $8k cash and transfer $2k in stocks?
2. if the value of $10k goes below due to dip in stocks, then I am not penalized?
3. if I put in the 10k but do not want to buy stocks, can I buy MM funds or just leave it sit there?
Thanks!
Allen
1. Yes
2. Yes, no problem if your account goes below $10K as long as at least 10K was originally put it.
3. Yes, both of these can be done. There is actually a MM fund that you can sign up for right off the bat. If you have unused $$$ in your account, it will automatically sweep to this MM fund daily. I think the MM fund currently pays ~3% interest.