Maybe you want to buy a home. Or take a dream vacation. But what is your cash doing to help you reach those goals? On this …
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Maybe you want to buy a home. Or take a dream vacation. But what is your cash doing to help you reach those goals? On this …
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A forever home? A once-in-a-lifetime trip? What are you saving for?
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I would include a caveat that some fintech companies like to tout the FDIC security of their partner banks, but it’s important to do your due diligence since there has been at least one scandal surrounding the failure of an intermediary it used and what sounds like poor record keeping. I feel more comfortable working with an established FDIC-insured online bank, but I also trust Fidelity’s sweep program because I trust their reputation and their vetting process.
I’d also add that you can invest as little as $100 in Teasuries through Treasury Direct, but Fidelity’s platform is more user-friendly. I’d also recommend investing through a broker if there’s any chance you might sell prior to maturity because the transfer process sounds like a hassle. I think it’s fine for short term securities, but I’d buy notes and bonds through a broker.
Thank you! I really need this education!.
One important element not explicitly disclosed about mutual funds is that some of the money invested is in the stock market. If you expect the stock market to go down, then it is best to hold your cash in the money market. It is a safe hedge when there is a negligible difference in the interest rates between the two funds.
How is the rate changed on this type of money market account . What effects this rate of return and this interest is taxable is that correct ??
Great video and best educational content about where to invest your cash. Best regards.😊
Hello 👋👋
I have 2 Rental Properties Passive income Amount 100% Saved Invested in True Money Called Gold Bullions Stacking 😉.
My Active income for Emergency funds and Monthly Expenses Only. I do Budgeting monthly Must. No debts No Liabilities No Inflation lifestyle 😊
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Marcus Bank (on-line only) currently has decent rates on saving accout, high-yield CD and no-penalty ones.