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How does putting idle cash into Vanguard's heavily promoted new Cash Plus solve this problem when one can just put it in higher paying money-market or 3-month T-Bills?
Investors can use a Vanguard Cash Plus account to invest in some of the highest paying MMFs. Though with this account they still cannot invest in anything else, be that 3-month T-bills or a newfangled MM ETF.
Well, even leaving the money in the Vanguard sweep account currently earns 3.65%. That's a lot better than Schwab's approach. One side benefit to Schwab is that I visit the account every day to see if anything needs to be transferred, and that's a good thing from a security standpoint.
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Investors can use a Vanguard Cash Plus account to invest in some of the highest paying MMFs. Though with this account they still cannot invest in anything else, be that 3-month T-bills or a newfangled MM ETF.