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
- "I delight in your decrees; I will not neglect your word." - Psalm 119:16
Recommended Resources
- Money Strategies for Tough Times
- Are you feeling the effects of today's economy? Who isn't? "Money Strategies for Tough Times" can help you successfully navigate the tough times, get to a better place with your finances, and stay there. In this new book you'll find...…Read the rest
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