Money sitting in brokerage account?
Dear Terry,
You have saved me tons of income over the years, and I did protect my earnings, when the dip started to eliminate some of last year’s profits too. So I have approximately $120,000. that I won’t need anytime soon just sitting in my stock account since last week. Naturally, I want to reinvest in stocks when the market turns again. Would I be better to put it in a three month CD? I know no one knows how long this will last, but what do you advise doing with funds you will want to reinvest?
Thanks for all your help in the past!
Terry Says
I’m glad you raised some cash — and I’ll bet you are, too! Ask your brokerage firm how much they are paying on cash held in accounts. The firms make money on your cash if you aren’t paying attention! They can also put it into a money market mutual fund for you. So make sure you double check and compare the yields. They won’t do it automatically!
