Loading…
19
My broker told me I was leaving $200 a year on the table and I didn't believe him at first
I used to keep everything in a big bank savings account earning 0.01% APY because I thought it was safer. My broker at Fidelity pulled up my statements and showed me I was losing like 4% in interest compared to their sweep account. I switched $15,000 over in July and I've made about $230 extra since then. The only catch is it takes an extra day to transfer to my checking account, but that hasn't been an issue. Has anyone else had a similar wake-up call about where you keep your cash?
2 comments
Log in to join the discussion
Log In2 Comments
the_stella5mo ago
Is $200 a year really worth all of that hassle and potential risk?
3
craig.grant5mo ago
Potential risk" of earning 4% on your cash? Yeah, that FDIC insurance really keeps me up at night.
3