How to earn 5% interest in a checking account, how risky is it, and how it can be better than T-Bills directly. Is this the best place for cash?
Note: In the video, I mentioned 4.2% interest which were the rates at the time. Rates have gone up and the money market funds mentioned are closer to 5% now. Also, Fidelity will begin allowing SPAXX as the core position in CMA accounts starting June 15, 2024.
#highinterest #moneymarket
--- Follow-up Videos:
How to Choose the Best Money Market Fund? [ Ссылка ]
T-Bills: This Will Shock You [Worst Investment?]: [ Ссылка ]
Investment Policy Statement [6 Step Investment Strategy]: [ Ссылка ]
Asset Allocation Explained [Modern Portfolio Theory]: [ Ссылка ]
Three-Fund Portfolio [The BEST Portfolio!]: [ Ссылка ]
Six Retirement Withdrawal Strategies Compared: [ Ссылка ]
--- Resources
CMA FDIC Disclosure [ Ссылка ]
CMA FDIC Program banks: [ Ссылка ]
--- Outline
00:00 Intro
01:27 Fidelity Cash Management Account Overview
02:23 Core or Sweep Positions & FDIC Insurance
03:32 Using Money Market Funds with Cash Management Account
04:46 FDLXX A T-Bill Money Market Fund & Risks
07:58 Using a Brokerage and Cash Management Accounts
10:09 Higher Returns than Traditional Checking & T-Bill ladder?
12:24 Some of the Downsides
13:47 $100 Bonus
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Disclaimer: I am not a financial advisor. My videos are for educational purposes and are my opinions. You should seek advice from a professional advisor or perform your own research. There is no guarantee you will be successful following my opinions.
