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Personal Finance (Not Investing) • Online savings account options

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I think folks are referring you to VMFXX which is the Vanguard money market fund that is the default settlement account with a Vanguard brokerage account. It pays that much in interest currently. It is a money market fund, so it is not FDIC insured like the Cash Plus account (or another online savings account at a a bank) is, but is still safe and is what they call a government money market fund, meaning they cannot impose fees or liquidity dates on the fund. But again, it is not FDIC insured if that is something you desire.

Personally, I move my savings around to whatever is paying the best, Vanguard, my online bank, or short-term US treasuries, and also look at the convenience factor. Currently most of my savings is in my Vanguard settlement fund.

Statistics: Posted by Lastrun — Thu Mar 07, 2024 8:56 am — Replies 2 — Views 56



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