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Where to park money at Charles Schwab?
Old 04-21-2017, 09:56 AM   #1
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Where to park money at Charles Schwab?

Am new to CS, and wanted to move some money from the default cash account into a money market account with some type of return.
Ended up selecting SWVXX "Schwab Value Advantage Money Fund Investor Shares."
Just new to CS and was curious what others are doing. Am not used to having so many options...... LOL LOL
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Old 04-21-2017, 10:02 AM   #2
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+1 on SWVXX although also use Schwab US Short Term Treasury etf.
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Old 04-21-2017, 10:07 AM   #3
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expense ratio .03% - SWTSX - Schwab Total Stock Market Index
expense ratio .03% - SWPPX - Schwab® S&P 500 Index Fund
expense ratio .03% - SCHB - Schwab U S Broad Market ETF
expense ratio .03% - SCHX - Schwab U S Large Cap ETF
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Old 04-21-2017, 10:31 AM   #4
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+1 on SWVXX although also use Schwab US Short Term Treasury etf.
+1 on SCHO (US Short Term Treasury ETF)
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Old 04-21-2017, 11:41 AM   #5
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Depending on how much money and when you need it, you might consider buying a short bond directly. Govvies and agencies are marginally safer than MMFs and might get you a few more basis points of net yield. Brokered CDs are another option, FDIC insured up to $250K.

If you have an account with Schwab you probably have an assigned rep; he/she would be a good one to ask, too. If you're interested in bonds, they will flip you to a bond specialist. I do not do a lot of fixed income stuff, but the bond specialists are not commissioned and at least the one I talked to was very helpful and generous with his time.
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Old 04-21-2017, 12:02 PM   #6
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For cash I need liquid I just use the cash sweep. I have bond funds for my fixed income portion of my AA. The schwab investor checking also pays interest.
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Old 04-21-2017, 12:35 PM   #7
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Schwab investor checking for me. I sweep everything over there from the brokerage account. It's a fairly modest taxable account with low cost, tax efficient Schwab index funds and ETF's, so not a huge amount of money.

If you want to deposit money into the checking account, it's faster to transfer it to the brokerage account and then sweep it over. Different transfer process.
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Old 04-21-2017, 12:52 PM   #8
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Quote:
Originally Posted by almost there View Post
Am new to CS, and wanted to move some money from the default cash account into a money market account with some type of return.
Ended up selecting SWVXX "Schwab Value Advantage Money Fund Investor Shares."
Just new to CS and was curious what others are doing. Am not used to having so many options...... LOL LOL
I have an Amex money market account that pays 0.90% linked to my Schwab, Ameritrade, and Fidelity accounts. I sweep up my excess cash into that account. You are limited to 5 withdrawals per month from the Amex account and unlimited deposits.
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Old 04-21-2017, 01:01 PM   #9
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I have an Amex money market account that pays 0.90% linked to my Schwab, Ameritrade, and Fidelity accounts. I sweep up my excess cash into that account. You are limited to 5 withdrawals per month from the Amex account and unlimited deposits.
I think it's 6 withdrawals per month.

That's a standard schedule D rule for FDIC insured high yield savings accounts.
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Old 04-21-2017, 01:34 PM   #10
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I have an Amex money market account that pays 0.90% linked to my Schwab, Ameritrade, and Fidelity accounts. I sweep up my excess cash into that account. You are limited to 5 withdrawals per month from the Amex account and unlimited deposits.
Same setup for me. Schwab and AMEX HYS. Yes, it's 6 withdrawals per month allowed in the AMEX account.
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Old 04-21-2017, 02:36 PM   #11
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Been with Schwab for over 25 years and love the account. However, the "high yield" checking ain't. I park my cash at Ally, and have it electronically linked to the Schwab account. Works for me.
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Old 04-21-2017, 02:45 PM   #12
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There are no high yield options for a cash acct, that I'm aware of. We use a cash sweep acct that is based on CA bonds, because we are in CA. You should have the good folks at Schwab give you some advice based on your location. We've been with Schwab for over a decade and it has been very good for us.
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Old Yesterday, 02:17 PM   #13
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Been with Schwab for over 25 years and love the account. However, the "high yield" checking ain't. I park my cash at Ally, and have it electronically linked to the Schwab account. Works for me.
Same here link to Ally and GS Bank at 1% and 1.05%
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Old Yesterday, 02:28 PM   #14
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Yep, keep non IRA cash at Ally @ 1%.
But in the IRA's, when there isn't anything I want to invest in.
Its got to go somewhere...........Other than cash earning .05% or what ever it is......
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Old Yesterday, 05:32 PM   #15
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Yep, keep non IRA cash at Ally @ 1%.

But in the IRA's, when there isn't anything I want to invest in.

Its got to go somewhere...........Other than cash earning .05% or what ever it is......


Opening an IRA savings account at Ally now. I see they have some 9-15 month CDs that might work for me too. I'm moving from GS Bank since they don't offer IRAs.
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