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Posted on 10/7/22 at 4:53 am to MikeyFL
Thanks for this thread.
I moved some cash from a checking account into SPRXX. The process was super easy. Did it all from my phone in 10 minutes.
I moved some cash from a checking account into SPRXX. The process was super easy. Did it all from my phone in 10 minutes.
Posted on 10/7/22 at 6:30 am to LSURoss
High Yield savings accounts are also in this range. Lending Club is at 2.85% and Personal Capital at 2.6%.
Posted on 10/7/22 at 8:00 am to MikeyFL
Goldman Sachs Marcus is at 2.15% and you are FDIC insured. You should at least be at your max there ($250k/$500k) before using MMF.
Posted on 10/19/22 at 5:14 am to LSURoss
How often does SPRXX pay interest?
This post was edited on 10/19/22 at 5:14 am
Posted on 11/7/22 at 7:15 pm to MikeyFL
So these are all MM funds, they are not going to fluctuate?
I have a bunch of cash just sitting in whatever the Vanguard MM account is that I need to do something with.
I have a bunch of cash just sitting in whatever the Vanguard MM account is that I need to do something with.
Posted on 11/7/22 at 7:17 pm to LSURoss
monthly
Posted on 11/8/22 at 3:36 pm to GREENHEAD22
quote:
So these are all MM funds, they are not going to fluctuate?
They fluctuate on a daily basis - and in concert with Fed announcements. That's one of the things that makes them attractive.
For instance, the 7 day yield on SWVXX is now 3.40%.
This post was edited on 11/8/22 at 3:48 pm
Posted on 11/8/22 at 5:26 pm to LSURoss
Compounds daily - distributed monthly (that’s the typical m.o. for most MMFs)
Posted on 12/19/22 at 9:12 pm to Shankopotomus
Guess we’ll need to update this thread after the latest rate hike huh?
Posted on 12/28/22 at 11:30 am to MikeyFL
Can you have a loss with these account though? I am assuming not.
Posted on 12/28/22 at 4:07 pm to GREENHEAD22
Research the Reserve Fund during the financial crisis. The original MMF and it broke the buck. Rare but it can happen they are not guaranteed.
Posted on 12/28/22 at 6:52 pm to bovine1
Well damn.
Posted on 12/28/22 at 7:40 pm to MikeyFL
SWVXX 7 day yield up to 4.26%.
Marcus by GS is at 3.30%.
Fair to think about the ~1% spread as a risk premium? FDIC backed versus not…
Marcus by GS is at 3.30%.
Fair to think about the ~1% spread as a risk premium? FDIC backed versus not…
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