Putting Idle Money to Work
If you have a brokerage account, chances are you have some uninvested money sitting in a cash account often referred to as a "sweep account." Fidelity calls it a "core account;" Vanguard uses the term "settlement account." According to a story in the Chicago Tribune, investment houses increasingly have been putting such money into low-interest accounts instead of higher-yielding money market funds, but investors who are paying attention can move the money into more productive funds.
Matt's View
Knowledge is power and, in this case, it could help you earn more money. The first steps are to see where your uninvested brokerage account money has been "swept" and how much it's earning.
Managing Money by The Book
- "To keep me from becoming conceited because of these surpassingly great revelations, there was given me a thorn in my flesh, a messenger of Satan, to torment me. Three times I pleaded with the Lord to take it away from me. But he said to me, 'My grace is sufficient for you, for my power is made perfect in weakness.'" - 2 Corinthians 12:7-9
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