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5%APY Webull Cash Management to Earn Interest

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Basically its not a savings or checking account,its like a trading account just money sits in webull cash management and earns interest.
If you need money you need to withdraw to your other bank account.
You might already know about webull but giving my 1cent info.

https://www.webull.com/cash-management
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5%APY Webull Cash Management to Earn Interest
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Created 05-31-2023 at 08:21 PM by Knockknock13
in Financial Tools & Services (7)
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nowayman
05-31-2023 at 09:13 PM.
05-31-2023 at 09:13 PM.
Buy a 1mo tbill at Fidelity (or any broker), 5.5% risk free with no state tax
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vinoth08
05-31-2023 at 09:28 PM.
05-31-2023 at 09:28 PM.
Quote from nowayman :
Buy a 1mo tbill at Fidelity (or any broker), 5.5% risk free with no state tax

I think, there is no state tax only if you buy thro treasury direct.
If you buy thro any broker state tax applies…
Correct me if I'm wrong…
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HIDDENKnockknock1305-31-2023 at 09:55 PM.
Joined Aug 2009
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madrascaldavid
05-31-2023 at 10:17 PM.
05-31-2023 at 10:17 PM.
I would recommend finding one solid savings account that updates their APY regularly as rates increase (I use UFB direct Savings), versus chasing down each 0.1% increase you come across every month. Lots of smaller companies offer great rates like this to get people in the door, then it dwindles once they have their desired clients.
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bjgfromthe703
05-31-2023 at 10:32 PM.
05-31-2023 at 10:32 PM.
The Vanguard settlement fund option VMFXX (Vanguard Federal Money Market Fund) has a yield just above 5% right now with the added perk of not having an awful UI and referral notification spam like WeBull.

https://investor.vanguard.com/inv...file/vmfxx
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nowayman
05-31-2023 at 11:38 PM.
05-31-2023 at 11:38 PM.
Quote from vinoth08 :
I think, there is no state tax only if you buy thro treasury direct.
If you buy thro any broker state tax applies…
Correct me if I'm wrong…
You're wrong, utterly and completely. https://www.investopedia.com/ask/...-taxed.asp
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nowayman
05-31-2023 at 11:38 PM.
05-31-2023 at 11:38 PM.
Quote from Knockknock13 :
Tbill has purchase limits and more over if debt ceiling fails its a risk
Its peoples interest what they want for piece of mind
Tbill has no purchase limit and will pay out regardless of debt ceiling.
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