Hi! New to investing. 46 just started investing. Most my money is sitting in a cap one high yield savings account, which isn’t earning like it did initially. Should I put all of that in my vanguard money market Account to sit, this does include my “emergency fund” I want to earn as much as possible on sitting money, able to access and earn a little low risk.
Thank you
Welcome! A high yield savings account is a great place for your emergency fund as it’s accessible and while it doesn’t earn too much right now, it’s still protecting your money and gaining a bit of interest.
Before opening a money market account, I would check this list to make sure you put money and invest in tax advantaged accounts first. If you fill those up, then you can put any leftover in a money market account (money goes in post tax and then is taxed again when you withdraw). There’s lots of good information on PFC’s YouTube and Instagram too. Good luck!
Thank you for your time, much appreciated!
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