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Tag: High-yield

Ask an Advisor w/ Danielle Spence: Excess Cash

Posted on 10.10.202330.11.2023 by Wealth Strategies Partners
Ask an Advisor w/ Danielle Spence: Excess Cash

WHAT SHOULD I DO WITH MY CASH?

More than ever before, I keep hearing: “I’m sitting on too much cash right now! What do I do with it? Where do I put it? When do I put that cash in the market?”

Let me first congratulate anyone who has a cash abundance – “champagne problems” per our team! Cheers to you!

More importantly, let’s discuss your options. My first response, which is always correct, being: It truly depends on your situation. Aside from that, some general strategies I recommend for extra cash include:

• High-yield money markets for excess cash/emergency savings

Cash is KING and will always reign supreme. Given the recent actions of the Federal Reserve, interest rates have risen and given investors opportunities to earn returns on their excess cash that were not available just a few years ago.

• Invest in the market!

Once your retirement accounts are maxed and your emergency savings is funded, consider opening a brokerage account. For money set aside for long-term goals, the stock market can be a great way to invest!

• Establish a Donor Advised Fund

If you are charitably inclined, you can start a Donor Advised Fund through Raymond James and take the tax benefit the year it is funded. You are not required to spend the money the same year.

Investing involves risk and you may incur a profit or a loss regardless of strategy selected. Past performance is no guarantee of future results. Prior to making an investment decision, please consult with your financial advisor about your individual situation.

Posted in Ask an AdvisorTagged Danielle Spence, Donor Advised Fund, Excess Cash, High-yield, Investment Account, Wealth Advisor, Wealth Management, Wealth Strategies, Wealth Strategies PartnersLeave a Comment on Ask an Advisor w/ Danielle Spence: Excess Cash

Недавні записи

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  • Ask an Advisor w/ Danielle Spence: Excess Cash
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    Securities offered through Raymond James Financial Services, Inc., member FINRA / SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Wealth Strategies Partners is not a registered broker/dealer and is independent of Raymond James Financial Services.

    Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP® Board's initial and ongoing certification requirements.

    Raymond James financial advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability.

    Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.
    Check the background of this firm on FINRA's BrokerCheck.
    Copyright © 2023 Raymond James Financial Services, Inc., member FINRA / SIPC | Legal Disclosures | Privacy Policy. All Rights Reserved.

    Subscribe below for updates


      • Nashville: 615-457-3481
      • Sarasota: 941-413-0570

      5500 Maryland Way, Suite 133 Brentwood, TN 37027


      400 Burns Ct. Sarasota, FL 34236

      • linkedin
      • facebook
      • ABOUT US
      • OUR SERVICES
      • PRESS
      • RESOURCES
      • GIVING BACK
      • CONTACT US
      • WHO WE SERVE
      • Privacy
      • Legal Disclosures
      • Copyright @2023 WEALTH STRATEGIES PARTNERS
      Site designed by lawson house

      Securities offered through Raymond James Financial Services, Inc., member FINRA / SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Wealth Strategies Partners is not a registered broker/dealer and is independent of Raymond James Financial Services.

      Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP® Board's initial and ongoing certification requirements.

      Raymond James financial advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability.

      Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.
      Check the background of this firm on FINRA's BrokerCheck.
      Copyright © 2023 Raymond James Financial Services, Inc., member FINRA / SIPC | Legal Disclosures | Privacy Policy. All Rights Reserved.