How many stock accounts do you have? Sipc or fdic only insure 250k.
High yield 4% savings w/ AMEX if you don’t want to invest
Wealthfront has better rate
So does Robinhood and spreads the cash to multiple banks so you get 2M in FDIC insurance.
Im not eligible to answer your question
A+ post!
Assets
Just 1 at Merrill right now. I had 1 at IBKR for a while. I'll switch it up again some day. I'm not rich though.
Vanguard
Unless you are saving for a down payment I don't see why you would need so much cash. If you are saving for a down payment I recommend a high yield savings account. If not everything else should be invested and should be making more money.
Yes, invest, but use multiple accounts if over $500k to protect against broker fraud or failure. I think that is what OP is asking about.
I park my money in my dream.
Buy assets.
You mean like property cause cash & stocks are considered assets
Everyone park in my account and complain about losses :)
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You should be investing most of it. You shouldn’t have 250k in cash. If you put it into stocks, it’ll still retain value even if the bank goes under.
Unless it’s a bank stock!
OP is talking about SIPC limits. If you invest $3 million in stocks and choose your stocks wisely but then the brokerage you are using goes under or steals your shares then you may lose everything over the $500k limit of SIPC even though your stock choices were great. I think the way around this is to do multiple accounts but I don’t know the details.