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reason for taxible money market account?

Posted: Sat May 15, 2021 7:53 am
by rgar98
Is there any reason to have a money market fund (non-retirement accn't) in addition to the money market settlement funds in my brokerage retirement accounts?

Re: reason for taxible money market account?

Posted: Sat May 15, 2021 7:57 am
by Triple digit golfer
Liquidity, cash flow, upcoming expenses.

How would you fund a new roof?

Re: reason for taxible money market account?

Posted: Sat May 15, 2021 8:08 am
by rgar98
Thanks. I did not word my question correctly.

I should have said: ... in addition to the settlement fund in a non-retirement brokerage account?

Re: reason for taxible money market account?

Posted: Sat May 15, 2021 8:14 am
by Triple digit golfer
rgar98 wrote: Sat May 15, 2021 8:08 am Thanks. I did not word my question correctly.

I should have said: ... in addition to the settlement fund in a non-retirement brokerage account?
Ah, I misread and missed that this is a non retirement account.

Then in my opinion, no.

Re: reason for taxible money market account?

Posted: Sat May 15, 2021 8:20 am
by stan1
The answer might vary with time and interest rates, but right now no need for a money market fund separate from retirement account. If I had cash I was accumulating for a large expense today I would keep it an FDIC savings or short term CD for higher rate.