I use Schwab and haven’t really seen any money market funds with any reasonable interest rates for cash lately. I am wondering what you think of something like FLRN as a placeholder for cash?
The cash I am referring to is partially for a six month savings account and partially for investments. Hence, I keep some of it in a brokerage account. I also use an online savings account for part of the funds.
Welcome @N.Esh!
So FLRN is an ETF that tracks a short/intermediate bond index. So basically it’s buying really safe bonds, so you won’t expect much volatility, but with the low risk, comes low returns… and there’s not “no” risk. During the covid crash it lost about 10% of it’s value, but it’s already slightly up year to date.
Over the last 5 years it has returned 1.84% per year.
So in exchange for that 10% drop risk, you’re likely to get around a 2% return instead of the 1% return you’d get in a savings account.
Is that worth it? Probably not. And frankly there may be some complicated stuff going on inside that fund that I’m not fully aware of that represents another kind of risk. So for me, I’m probably keeping it simple. Long term stuff, buying and holding index funds, short term stuff just keep it in cash. I know it’s painful to see that cash sitting there not working for you, but having the liquidity and flexibility to use it when you need it is a good thing. 
Here’s a similar question: