For about 7 years I had my normal cash sitting in my Fidelity investors account and it was just listed as a money market I believe. My buddy told me he called Fidelity and asked how he could at least make interest on the uninvested cash setting in his account and they told him he needed to switch his account to use the Fidelity Government Money Market instead.
I wound up doing this based on his phone call but when I click on that position, I don’t see any record of it gaining interest (only have about $30k sitting in SPAXX at any one time).
I recently helped my gf setup her Fidelity account and told the rep to make SPAXX her default and the rep said they all return about 1-3% annually.
Can anyone explain what this money market is and why I can’t see the interest rate I’m earning on uninvested cash? Furthermore, are there any other highly fluid yet super low risk vehicles I could put this money in and gain more than what SPAXX is producing?
Submitted August 11, 2019 at 11:02PM by phaskellhall https://ift.tt/33sRtf6
