SIPC
SIPP INDUSTRIES INC NEW
stock OTC

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You’re mistaken. Every day after close, excess cash is swept to various bank accounts. This keeps cash insured by the FDIC. It pays a horrible interest rate, is not a money market fund, but is a cash sweep.
Per the disclosures and footnotes available in the app below the cash balance of every account:
“Cash may include bank deposits and non-bank balances. Bank Sweep deposits are held at one or more FDIC-insured banks (collectively, the "Program Banks"). Funds deposited at Program Banks are insured, in aggregate, up to $250,000 per Program Bank, per depositor, for each ownership category, by the Faederal Deposit Insurance Corporation (FDIC). Brokerage products and services (including unswept or intra-day cash, net credit or debit balances, and money market funds) offered by Charles Schwab & Co., Inc. (Member SIPC) are not deposits or obligations of the Program Banks, are subject to investment risk, are not FDIC insured, may lose value, and are not Program Bank-guaranteed. Charles Schwab & Co., Inc., Charles Schwab Bank, SSB, Charles Schwab Premier Bank, SSB, and Charles Schwab Trust Bank are separate entities and are all affiliates of The Charles Schwab Corporation. Bank Sweep deposit balances do not include interest that has been accrued since the last interest payment was made to your account.”

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Thanks for the post this sub is dedicated to the US Investing Company - Fidelity Investments, you should probably seek advice on some India specific subs
This was removed for violating rule #10: **keep posts within the scope of customer care, market news, or general investing discussion**.
The focus of this community is investing education and Fidelity customer care, including discussions about money movement, transfers, and trading. This sub is not intended to address inquiries that go beyond the scope of normal service.
Please consider if your question is one you’d ask to a Fidelity support representative. Off-topic posts may be removed.
*Fidelity Brokerage Services LLC, Member NYSE, SIPC*

This has been removed for violating rule #2: **limit discussion of securities and investments**.
Thanks for your post seeking investment advice or discussing specific securities. Please keep all conversations about portfolios and specific investments in our monthly discussion post.
Fellow Redditors may offer an opinion on investments. Fidelity doesn’t endorse any of the expressions, opinions, or content posted by non-Fidelity members or any third parties on  r/fidelityinvestments. Do not rely on comments to form the basis of an investment decision.
Always make sure to do your due diligence before investing. Remember to look for the “Community Care Representative” flair to make sure it’s us.
*Fidelity Brokerage Services LLC, Member NYSE, SIPC*

This has been removed for violating rule #2: **limit discussion of securities and investments**.
Thanks for your post seeking investment advice or discussing specific securities. Please keep all conversations about portfolios and specific investments in our monthly discussion post.
Fellow Redditors may offer an opinion on investments. Fidelity doesn’t endorse any of the expressions, opinions, or content posted by non-Fidelity members or any third parties on  r/fidelityinvestments. Do not rely on comments to form the basis of an investment decision.
Always make sure to do your due diligence before investing. Remember to look for the “Community Care Representative” flair to make sure it’s us.
*Fidelity Brokerage Services LLC, Member NYSE, SIPC*

This has been removed for violating rule #2: **limit discussion of securities and investments**.
Thanks for your post seeking investment advice or discussing specific securities. Please keep all conversations about portfolios and specific investments in our monthly discussion post.
Fellow Redditors may offer an opinion on investments. Fidelity doesn’t endorse any of the expressions, opinions, or content posted by non-Fidelity members or any third parties on  r/fidelityinvestments. Do not rely on comments to form the basis of an investment decision.
Always make sure to do your due diligence before investing. Remember to look for the “Community Care Representative” flair to make sure it’s us.
*Fidelity Brokerage Services LLC, Member NYSE, SIPC*

FDIC doesn’t insure investment accounts the equivalent is SIPC. SIPC insures the cash you hold in your investment account and the fact that you hold certain investments, it’s to protect you if the broker fails. It does not insure the value of the investments. So if Fidelity goes out of business you are protected, but if your stock becomes worthless because the company went bankrupt you not.

The idea is just staggering maturities so something rolls off on a schedule - like 4/8/13/17/26/52 week bills, and when one matures you either use the cash or buy a new 52-week rung. Two ways to buy: TreasuryDirect straight from auction (no fees but no secondary market, so you're holding to maturity), or through a broker where you can dump them early if you need to. Tax-wise the interest is exempt from state and local tax, still federal. One thing worth knowing at that size - the FDIC/SIPC $250k thing doesn't really apply the way people assume, since Treasuries are held in your name as a direct govt obligation, so it's a different risk profile than a bank balance. How you split the rungs is up to you.