You are saying that once I put funds in the money market, I can't transfer them back out until after 12 mos?I use the sweep money market account in my Vanguard brokerage to save for our emergency fund. I think it's great especially while rates are high. When rates are really low the interest in a high yield bank savings will usually beat the sweep money market fund. Something to be aware of, is that there seems to be a one year waiting period to transfer funds out of the account. I was recently made aware of this from other posts relating to this topic. My account has been opened for years so I don't know if this was implemented after I opened the account. After the one year period, a 7 day waiting period is imposed to transfer funds back out of the account to your bank. If you are trading with the money you can trade immediately. I don't want you to get stuck if you need the money in 6 months.
Kind regards,
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Statistics: Posted by learning30 — Sun Sep 01, 2024 12:02 am — Replies 4 — Views 315
