Where to store temporary funds.

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Topic Author ClaireB1000.

Joined July 22nd 2024 11:15 pm. For temporary cash storage solutions. Post by ClaireB1000 >> September 6th at 9 am.
Hi! As my hubby may soon be unemployed, I want to put aside cash as an emergency fund until he finds employment again and then put any leftover into ETFs. Right now it is in Merrill taxable account but its cash fund pays very little interest; If I wanted to invest it elsewhere – such as money market fund(s), what advice or recommendations could you offer me regarding hidden fees/minimum balance requirements I should keep an eye out for? Thank you very much in advance.

Retired at 50

Posts: 14340
… where to store money temporarily. Posted by retired@50 on Sep 6 2024.
ClaireB1000 wrote:
Hi! As my hubby may soon be laid off from his employment, I need to start saving for our emergency fund until he finds new employment and invest in ETFs again if any money remains over time. Currently I’m using Merrill taxable accounts with their cash fund paying virtually nothing so what money market funds would you recommend and do they have hidden fees/minimum account minimums I should know of? Thank you in advance.

Not knowing if Merrill allows access to Vanguard money market funds, I suggest checking out VMFXX or VUSXX for investment options. Regards.

“All of us would make better investors if we took fewer decisions” – Daniel Kahneman