I have money sitting in my checking account every year doing nothing. What are folks doing with extra cash that sits in your checking account accumulating nothing? 1yr CD ?, 1yr MM fund ?
With Fidelity Cash Management accounts, we can hold essentially as cash in FZDXX with the 4.27% 7 day yield and it will pull right out of this fund after the core account. I just make certain every deposit made is re-invested into this fund.
One of our accounts is grandfathered to use this fund as its core, but the one we use as a checking account has a core fund to receive deposits, and pulls second from FZDXX when the core runs out.
I was using Marcus as my high yield savings until the promo extra 1% ran out, I then moved a bunch to fido. It took a few moves to transfer as it exceeded the EFT limits on each side......
I put cash in my Merrill Edge accounts in BlackRock TSTXX, a short-term T-bill fund.
The last 7-day yield of TSTXX is 4.07%. On $30K cash, that's $100/month, enough for a dinner for 2.
I'm trying to consolidate everything to Fidelity where most of my retirement investments are located. I will look into the Fidelity Cash management account and the FZDXX money market account.
The annual yields take into account lots of sub 1% yields in the past. The current return today is 4.27%I'm confused on yield vs return.
Here is the yield and return on FZDXX.
Yield as of 01/13/2023
1 Day 7 Day 30 Day
4.26% 4.27% 4.25%
Avg. Annual Returns As of 12/31/2022
1 Yr. 3 Yr. 5 Yr. 10 Yr.
+1.58% +0.67% +1.20% +0.75%
If I leave $30k in FZDXX what would be my yield and what would be my return?
I have money sitting in my checking account every year doing nothing. What are folks doing with extra cash that sits in your checking account accumulating nothing? 1yr CD ?, 1yr MM fund ?
I have money sitting in my checking account every year doing nothing. What are folks doing with extra cash that sits in your checking account accumulating nothing? 1yr CD ?, 1yr MM fund ?
The annual yields take into account lots of sub 1% yields in the past. The current return today is 4.27%