The most important attribute of a cash reserve is its availability in time of sudden need.
And even though a federally insured savings account is considered one of the safest places to put money being reserved for emergencies you may want to consider other alternatives when interest rates are low.
This week, Craig Siminski, of CMS Retirement Income Planning, shares an article discussing investment alternatives available to help provide liquidity:
When selecting ways to invest your cash reserve, you should balance your liquidity needs with potential returns. Short-term investment instruments, such as Treasury bills, certificates of deposit, and money market mutual funds, can provide you with the liquidity needed to meet expected and unexpected expenses and to increase your short-term investment income.
By actively managing your short-term reserves, you can provide a means of saving for the future. You can use this money to increase your net worth with little or no…
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Craig Siminski is a CERTIFIED FINANCIAL PLANNER™ professional, with more than 22 years of experience. His goal is to provide families, business owners, and their employees with assistance in building their financial freedom.
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Securities and investment advisory services offered through SagePoint Financial, Inc. (SPF), member FINRA/SIPC. SPF is separately owned and other entities and/or marketing names, products or services referenced here are independent of SPF.