There are two parts to withdrawing all your money from a goal.
First, we initiate a withdrawal of the funds that are currently in your account with Folio Investments, the broker-dealer and custodian for your account. Folio will sell all securities in your portfolio, and within about seven business days, the money is transferred to your linked bank account.
Second, we keep an eye out for any new payments that are posted to that account, in the form of interest, dividends, and capital gains distributions. This money hits the account in the form of cash (aka money that’s not invested).
Because of the payment schedule, it’s possible for one of these payments to be posted after you’ve already withdrawn your money from the account. So when that happens, we go ahead and transfer the money to the bank account that’s linked to your Ellevest account.