Fairly new to investing. Is there any advantage of having money in my chase savings account? Or should I invest it? Thinking Wealthfront.

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What is the money for? Do you use your tax advantaged accounts already? Do you have an emergency fund? Do you have debt?

As your net worth grows, how you structure your cash position changes.

1. Early on you need cash to cover some for or small things - $1k-$2k in savings is probably reasonable.

2. Once you start making money and having responsibilities 6-9 months of expenses saved in cash is the standard rule of thumb - it’s about risk mitigation, not growing wealth, so the interest rate doesn’t matter.

3. As you build wealth, 6-9 months of expenses represents a microscopic portion of your net worth, and it’s smart to have a “cash position” - this is often between 10%-30% of your net worth, it includes your emergency funds, and provides you with opportunity to take advantage of major market corrections and other opportunities.

Look at cash as a risk mitigator and not a wealth builder. It protects you from “when” shit goes sideways.

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