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Hi Fishes, How much money can we keep in our salary account? I have only 1 bank account which is salary account. I have created RD account in that only. So wanted to know what's the maximum amount we need to keep in salary account? And all the amount in our salary account is taxable? Accenture Tata Consultancy Infosys Cognizant Wipro Amazon Amdocs Yahoo Capgemini Citi
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Recommendations for a Roth IRA?
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Are you saying it is just in checking or a savings account getting nothing now? If so I would get whatever you don’t need out of there soon. I would invest it in a brokerage account now. I would have any emergency fund on a HYSA
That is what I would do. I am assuming you are already maxing out your tax advantaged accounts
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Growing money is not a game or a sport. I hope that you can find solid ways to grow your money. Just letting it grow in a way that you can find. Interest bearing markets and then growth yielding investments. Just letting your money pool and catch and grow. It's a high yielding adventure.
I would move it to a brokerage. Money markets at Fidelity right now are paying 3.3% or so. You can leave your money in the MM until you are ready and want to invest. In a brokerage MM you won’t have to move it again to buy an ETF or fund where at a bank you would. MM’s at a brokerage aren’t FDIC insured, but are very low risk.
Short term treasuries
What is your intended use of this cash? Down payment on a house? I have about that amount in Marcus right now earning 4% after a referral. I intend to use this cash for a down payment in the next 24 months
No specific intent yet. It just grew over time due to various income streams
Way too much cash on hand. Keep 50k for a rainy day and invest it. I’m being broad because that looks different for everyone but look at S&P 500 index funds. With the market being low now is a great time to buy.