I do these transfers all the time between BOA checking and SPRXX* Archived Message
Posted by Stu on January 17, 2024, 11:09:20, in reply to "Wut?*"
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MM account is an option.
Unless I'm misunderstanding something.
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How quick do you need?
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And fees for liquidity probably eat up any additional interest earned.
Thanks, though!
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I have some cash that I'll use to supplement payroll income for my annual budget. I have distribution income, also, but don't know exactly when I'll take it or how much it will be, so I set aside cash.
I'm using it to supplement because I'm maxing out my companies match - 50% up to 60% of my salary. So dumping 60% of my salary into the 401(k).
I don't necessarily want the cash sitting in my checking account but it does need to be accessible. Is there anything other than a high-yield savings account with no fees or penalties for withdrawals that would do the trick? I thought about staggering some short-term CD maturity dates but the interest isn't as good as the savings account.
Anything else? Am I missing something? Overthinking it?
Not coincidentally, looking for some recs on local financial planners. Ready to move my business.