From: grammatim@verizon.net   
      
   On Friday, June 2, 2023 at 1:27:39 PM UTC-4, General Kireiko wrote:   
   > Peter T. Daniels  wrote:   
   > : > A bit OT for this thread, but I was shocked that my MM account was paying   
   > : > 4.5% APY, where my car loan rate is 3.9%. Now I know that I have to pay    
   > : > income tax on the 4.5%, but it's gotten to the point that if you are    
   > : > clever, your money will no longer be earning 0.001%, and will still be    
   > : > fairly liquid.    
   >    
   > : But it isn't fairly liquid if you have to maintain a minimum balance    
   > : in the $1000s.   
   > That depends on the individual's personal situation and their expection.    
   >    
   > Keep as little as you need to in your checking account to avoid a    
   > monthly maintenance fee; put the rest in a MM account or other HY    
   > savings account. Most banks will waive fees on the checking account    
   > with direct deposit.    
   >    
   > I assume many brokerage houses (where your 401k is) will count that    
   > 401k balance towards any minimums, opening up more options for a    
   > high yield savings vehicle.    
   >    
   > If you need money on-demand, might as well keep it under a mattress.    
   > Thee business days should be enough to get your hands on cash.   
      
   Coincidentally, yesterday afternoon NPR had a brief feature on the    
   increasing uncertainty surrounding money markets, and last night    
   Channel 2 News passed on a warning from some oversight body    
   that services like Paypal and Venmo are not a good place to maintain    
   a balance. (And they're targets for hacking.)   
      
   --- SoupGate-Win32 v1.05   
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