I'm with MBTrading and the money that is leftover on your balance(that you don't have a position on) is not insured by FDIC so I'm wondering how to earn interest and be insured at the same time. I don't want to buy treasuries and liquidate before maturity since that would be highly speculative. I just want to have some kind of income when I decide to take a vacation, is there a mutual fund or instrument that would make this possible? Does IB works differently?
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How to safely earn interest on the leftover balance?
- Thread starter Daal
- Start date
Who gives a Rat's ass?
How about a suggestion or close this this pointless pissing contest.
Most equity brokerage firm's will permit you to buy a money market mutual fund, I have some unused dough sitting in FDRXX @ a non Fidelity firm earning 5%. It is available whenever I decide to use it.
Futures cash is kept in a 3 month T Bill.
OK Resume the PISSING now.
How about a suggestion or close this this pointless pissing contest.
Most equity brokerage firm's will permit you to buy a money market mutual fund, I have some unused dough sitting in FDRXX @ a non Fidelity firm earning 5%. It is available whenever I decide to use it.
Futures cash is kept in a 3 month T Bill.
OK Resume the PISSING now.
my point is that there is no such thing as a risk free investment. So by buying google and going on vacation he'll be just as good as buying some bond and going on vacation, you're putting all your eggs in one basket. There's no single instrument that can be considered safe, as everything, even Tbonds and metals have a certain degree of risk.Quote from zdreg:
you should be banned for your stupid remark.
My remark was aimed at pointing this fact indirectly, and maybe pissing someone off... So I guess it worked.
Quote from Daal:
I'm with MBTrading and the money that is leftover on your balance(that you don't have a position on) is not insured by FDIC so I'm wondering how to earn interest and be insured at the same time. I don't want to buy treasuries and liquidate before maturity since that would be highly speculative. I just want to have some kind of income when I decide to take a vacation, is there a mutual fund or instrument that would make this possible? Does IB works differently?
CDARS is a possibility. You'd have to withdraw the $$$ from your broker and put it in the CD's at a financial institution that offers CDARS.
Below is a link explaining CDARS ... FDIC insured up to $25 million.
http://www.libertysavingsbank.com/personalServices/cdars.asp
I have $$ in CDARS now that is a 3 month rolling instrument. I think options were 30 days, 3 months, 6 months, 1 year at Liberty.