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Friday, March 26, 2004 |
Friday Fish
I can't emphasize how much I find the Burger King fish sandwich to be just blah. I seem to recall that the McDonald's McFish was very tasty, but I haven't had on in years. But the BK version is just not a pleasant experience. On the plus side, there was this girl with spray-on latex pants and matching highride top. She was, of course, too young to be dressed up like that, but for a quick glance, I didn't mind.
::
Somehow, I learned this a week ago, and although it might seem needlessly arcane, it's important to remember.
It turns out that by federal rule, you can't move money out of a money market account very often. 6 times in one month, as a matter of fact. Anything more, and you might be required to close the account, and face a fine per violation.
So don't take money out very often. No big deal.
But let's say you subscribe to the Automatic Millionaire school of thought.
Let's further say you deposit part of your paycheck in a money market account, to get a better return.
You also have an IRA. Because you are a responsible investor, you diversify and have 6 funds. One International fund, a Large Cap fund, an Index fund, a Corporate Bond fund, an Midcap Income fund, and a Smallcap Growth fund. To make things easier, and to smooth out the volatility, you dollar-cost average, automatically transferring money from the money market to the funds on a monthly basis.
You want to buy a new TV, and so withdraw money from the money market account.
Did you remember to tell the Fund House that you wanted them to take out the money in one single transfer, as opposed to 6 individual transfers, one for each fund account? Don't know what I'm talking about? Then probably the answer is no.
Oops! You just violated federal rules. I'm sorry, your account will be closed now. Plus you've been fined and now owe us money.
Remember, the federal rules don't care why you make the 6 transfers, they just care that you make 6 or less per month.
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