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throwawayforme194 OP t1_j6k5do1 wrote

Reply to comment by shadracko in Placing savings in money market fund (SWVXX). by throwawayforme194

Gotcha, yes that is the conclusion that i’m coming to as well.

I considered a HYSA but it seemed like SWVXX might’ve been better but I’m not sure what the tax differences are between the two.

Dumping this into a CD account offering ~4.2% over 11 months at my bank is feeling pretty attractive as well.

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harrisc42 t1_j6kjnmf wrote

There's nothing different about the taxes. Taxes are taxes. If you earn interest or dividends by putting this cash into anything, you'll pay taxes on that income.

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throwawayforme194 OP t1_j6kpaqk wrote

Great, that’s what I had imagined. Wasn’t sure if there were any nuances dependent on the avenue of income generation.

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