See title #investments #personalfinance #wealthfront #downpayment
Why not just throw it in tbills?
Sure, I have some $ in t-bills as well. Just wanted to understand if there’s any risk with keeping large cash in WF.
It’s riskier than tbills, but not really more so than other financial institutions besides some corner cases
Yes, because they diversify the banks they put the money in, so that your FDIC limit is in the millions. Just make sure you don’t have other bank accounts with huge sums potentially being one of the backing banks of your account, cuz that would share the limit in that bank. You can ask Wealthfront not to use a specific bank, namely, your banks.
Thanks, is there a way to know what bank they use to keep our $$?
I don’t know. I’ve never tried.
I love Wealthfront. I use them for both HYSA and invest in their bond fund and a little in stocks. You can add a checking account functionality and make large payments from it too. I recommend all my friends and family use Wealthfront because of their easy-to-use interface and incredible interest rate and investment offering. They also have an insanely high FDIC insurance limit if you have millions.