Savings, CDs, T-Bills or Money Market Funds? Where Cash Earns the Most Now

Where can your cash earn the most right now? In this video I walk through the best places to keep an emergency fund, or money you plan to spend in the next 6 to 12 months.

Resources mentioned in the video:

Best savings rates (DepositAccounts): https://www.depositaccounts.com/savings/
3-month CD rates (DepositAccounts): https://www.depositaccounts.com/cd/3-month-cd-rates.html
Schwab brokered CD rates: https://www.schwab.com/fixed-income/certificates-deposit
Vanguard brokered CD rates: https://investor.vanguard.com/investment-products/cds
Schwab cash rates (sweep): https://www.schwab.com/cash-investments
Fidelity Government Money Market Fund (SPAXX): https://fundresearch.fidelity.com/mutual-funds/summary/31617H102
Vanguard Cash Plus Account: https://investor.vanguard.com/accounts-plans/vanguard-cash-plus-account
Vanguard money market funds: https://investor.vanguard.com/investment-products/list/mutual-funds?strategy=cash&assetclass=money_market
Vanguard Municipal Money Market Fund (VMSXX): https://investor.vanguard.com/investment-products/mutual-funds/profile/vmsxx
Fidelity tax-equivalent yield calculator: https://digital.fidelity.com/prgw/digital/taxyieldcalc/
Fidelity Municipal Money Market Fund (FTEXX): https://fundresearch.fidelity.com/mutual-funds/summary/316048107
Vanguard 0-3 Month Treasury Bill ETF (VBIL): https://investor.vanguard.com/investment-products/etfs/profile/vbil
iShares 0-3 Month Treasury Bond ETF (SGOV): https://www.ishares.com/us/products/314116/ishares-0-3-month-treasury-bond-etf
Daily Treasury bill rates (U.S. Treasury): https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_bill_rates
Vanguard Federal Money Market Fund (VMFXX): https://investor.vanguard.com/investment-products/mutual-funds/profile/vmfxx
Fidelity Money Market Fund Premium Class (FZDXX): https://fundresearch.fidelity.com/mutual-funds/summary/31617H805

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0:00 Where to park your cash right now
0:34 High-yield savings: yield, taxes and liquidity
2:03 Bank CDs
2:32 Brokered CDs
4:10 What your brokerage sweep account pays
6:07 Money market funds and state income tax
6:59 Municipal money market funds
8:45 Tax-equivalent yield: munis vs. CDs and Treasuries
11:20 T-bill ETFs: VBIL vs. SGOV
12:33 T-bill rates today, and why ETF yields lag
14:41 Two more money market funds: VMFXX and FZDXX
15:07 Roundup: Vanguard vs. Fidelity

ABOUT ME

While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. I've since sold my websites, bought them back, and started a new website and this YouTube channel.

I'm also the author of Retire Before Mom and Dad--The Simple Numbers Behind a Lifetime of Financial Freedom (https://amzn.to/3by10EE)

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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.

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