正文
You said below. I am new learner, please clarify. Thanks!
Q1. What is FDRXX and $110B (required miminum?)?
Q2. Can you recommend a few MMF and companies?
The interest rates on the MMFs offered by banks are usually lower than those offered by mutual fund companies. For example, the current yield of the $110B Fidelity Cash Reserve Fund ( a MMF) is 4.74%. If you plan to park the money in the MMF for a long time, I suggest you put your money in FDRXX, then set up a ACH link to your checking account. This way you can get high yield and easy acccess to your money at the same time.
Q1. What is FDRXX and $110B (required miminum?)?
Q2. Can you recommend a few MMF and companies?
The interest rates on the MMFs offered by banks are usually lower than those offered by mutual fund companies. For example, the current yield of the $110B Fidelity Cash Reserve Fund ( a MMF) is 4.74%. If you plan to park the money in the MMF for a long time, I suggest you put your money in FDRXX, then set up a ACH link to your checking account. This way you can get high yield and easy acccess to your money at the same time.
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