Where should I park money that I don’t want to invest in the stock market but also don’t want to keep idle in a checking account earning no interest? It needs to be liquid enough to access within a week if needed, so no CDs. My goal is to maximize post-tax gains within these constraints. Should I consider a high-yield savings account (HYSA), a money market fund, a money market account, SGOV, or something else?
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I am with Fidelity and keep about 30% of my account in SPAXX for potential dips, earning 4.96%. I also have safe money in laddered CDs at a savings and loan. I am uncertain what to do when the CDs mature and interest rates drop.
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Regarding my CDs, I have been thinking the same thing. been thinking about SGOV.
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Consider either a high-yield savings account (HYSA) or a money market fund. Some funds are currently offering over 5%, but that might decrease when the Fed cuts rates.
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Which kind of money market funds are these? similar to Cash.TO?
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I use SWVXX because I am on schwab. Other brokers possess comparable
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Uninvested cash in most brokerage accounts is currently earning 5%. Many banks also offer savings accounts alongside checking accounts that are earning 5% right now. It is fairly straightforward.
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I say High yield savings but I am I interested in others opinions
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