On Jul 2, 10:48 am, TB <b...@p...net> wrote:
> kramer31 wrote:
> > Hi.  I recently opened an IRA with Scottrade. They give 0.2% on
> > cash holdings (which is basically nothing).  I want something with a
> > reasonable rate of return without a time limit that I can put my money
> > in while I am waiting to invest it.
>
> The scenario you're describing is the reason I suggest that people look
> closely at money-market rates when choosing a discount broker. Saving a
> couple bucks per trade may be nothing compared to the "lost income" from
> a chronically lousy MM rate.

Amen to that! When account balances get into the 100k+ range, trading
charges constitute fractions of a percent of the account balance. Yet,
because the fees are up front and clearly shown on statements, people
often throw a tantrum. Unless you're doing a lot of trading, there are
simply too many other concerns that carry far greater weight (like
money market rates).

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