if you have Schwab have you considered Treasurys for a bit less liquidity? Archived Message
Posted by Potomac on January 17, 2024, 15:34:15, in reply to "Our financial guy had us move virtually all the $$ we used to have in a high yield savings account "
Business boomed in Treasurys last year, available in a wide variety of durations, at good rates, from right there in your account. I did that multiple times, and have some active right now. I like the freedom from state income tax, too. Previous Message (ours was with Ally and I liked them well enough) into a Schwab MM account. Gets better rates and still has just as much if not more flexibility — actually has a debit/ATM card that I didn’t have with Ally. And the Schwab card/account reimburses any ATM cash withdrawal fees, even internationally which was awesome when we were in Japan for two weeks last summer. Highly recommend. Previous Message Thanks. Will look more closely. Previous Message I can get money out of the MM fund quickly and at no cost. Previous Message MM account is an option. Unless I'm misunderstanding something. Previous Message How quick do you need? Previous Message And fees for liquidity probably eat up any additional interest earned. Thanks, though! Previous Message Previous Message 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.
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