Your Survival Guy

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Hurricane Lee Spaghetti Models and Your Lazy Cash

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Spaghetti model of Hurricane Lee, courtesy of the South Florida Water Management District. sfwmd.gov

Watching the spaghetti models for Hurricane Lee makes me wonder if I pulled my boat out too early. Because it looks that way this morning. But here’s the deal: if an errant strand ventures off into my particular harbor, I don’t want to be part of the problem. That’s why trying to reason with hurricane season can be so tough.

Which brings me to your lazy cash sitting on the dock, wondering what to do. It’s time to put that cash to work, especially if it’s sitting in your bank account and you don’t need it for living expenses. Why not consider taking it out and putting it in my favored Fidelity Treasury Money Market yielding 5.07%. When it’s at Fidelity, you can access the money with all the cash management needs you might desire.

Yes, current yield is a great motivational speaker for your lazy cash. But here’s another reason to consider a move. If you’re anything like Your Survival Guy, you might think about what you could spend that money on, especially if it’s right there in your bank account. As opposed to my bank account, there’s something about the money in my investment portfolio that subconsciously deters me from spending it even though it’s accessible. It’s good to trick yourself into saving.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.

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