Buying T-Bills within my Ameriprise IRA accounts
Hi Terry,
Love you! I discussed buying t bills with my advisor at Ameriprise. I’ve purchased them recently with personal funds (thanks to you!). Question: does HE need to place the orders to buy treaury products, or can I buy them within the IRA with Ameriprise to avoid their fees ? I’ve read I can purchase directly within my Fidelity 401k solo, which I am planning to do today. Thanks!
Terry Says
Each firm charges its own fees for purchasing T-bills and acting as custodian. That’s why I only recommend using the brokerage firm to buy if you are buying from an IRA or retirement account that requires custodianship. TreasuryDirect won’t do that for you.
Also, when you buy from TD, you get the Monday auction price. At a brokerage you are buying in the open marketplace. And you don’t get the opportunity to auto-renew at maturity.
