SNSXX
The Charles Schwab Family of Funds - Schwab U.S. Treasury Money Fund
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How do dividend payments work for a US Treasury Money Fund like SNSXX?
Fund to park money Schwab (SWVXX, SNVXX, SNOXX, SNSXX)
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I trust using treasury money market funds, it’s US treasuries, if the US defaults on these FDIC may not matter. FYI, I have both SNSXX and VUSXX, VUSXX consistently has about a 0.20% higher SEC yield. I believe VUSXX is only available at Vanguard.
SNSXX is all Treasuries, backed by the U.S. government. Who is backing FDIC-insured CDs? The same.
hi everyone, a few weeks into learning about investing in general and would appreciate if anyone had any input or ways I could improve where I started or if it looks pretty good. I’m fortunate to be able to invest or save basically ~3k month for the next year or so (no 401k through work). My plan was to put about $600 into my Roth IRA, $2000 into a MMF at Schwab (SNSXX), and the $400 or so left into a taxable account every month. Below is what I’m invested in for each. I have everything in a Schwab mutual fund as I like being able to invest partial shares. I like the idea of having a somewhat simple portfolio to start but I also want good growth as well as I’m just about to turn 24. I really appreciate any input/advice on this as I’m still a newbie and learning. Thank you. Roth IRA - SWTSX (60%) SWLGX (25%) SWISX (15%) TAXABLE - SWPPX (70%) SWLGX (10%) SWISX (10%) SFENX (10%) MMF - SNSXX (100%)
SGOV or SNSXX, no state income tax.
Does China dumping treasures affect SNSXX and SWNXX?
If it is a taxable account and there is an income tax in your state, look at SNSXX instead of SWVXX.
At Schwab cash has to be manually moved to the "purchased money market" funds. SWVXX and SNSXX, for example. [Here is the full list](https://www.schwab.com/money-market-funds). Could that be what this is about? If so, that is the right thing to do. And Schwab makes money off of people who fail to do it. For example, my wife received an inheritance last year, and our FC called her to make sure that she was planning to make that move. Note that it would have been in Schwab's interest for her to just let it sit as cash, but he was making sure that she did not make that mistake. Handling a family member's investments is a mine field. Other family members can get their noses out of joint even when things are done properly. My suggestion, having been down this road, is to get a real financial advisor to manage the portfolio. And the Schwab Consultant can help you find the right match (doing so has been Schwab's bread and butter for a long time). It is not about the fees, it is about you not being the lightning rod for imagined wrongs.
Hi, as US expat who cannot buy domestic MFs, what is the equivalent foreign option of SNSXX?
Oh. Oops…does sgov avoid CA state taxes like SNSXX does?
Bought them in 21 and 22. Sold last year, moved to SNSXX.
If OP wants something truly safe, it'd be something like SNSXX which can be treated as a savings account.
You can invest in a t-bill index like SNSXX having the money more liquid and still getting the state free tax benefits (assuming US)
I keep the 6 months emergency fund in SNSXX/SGOV, much better interest rates than my savings accounts. Then I keep 1 month expenses easily available
Unfortunately your post will fall on deaf ears around here. It belongs in r/investing and or r/bogleheads I’m 42 and same max out 401k, max out Roth (front load on 1/1 every year) , max HSA(triple savings). The” excess” I have is put in a taxable account SNSXX(state exempt). I Just come here to see everyone make these huge plays I don’t have the balls to do this late in the game with my portfolio.
I was doing SNSXX, but it takes an extra day to get the money to use. Can you lose money with SGOV anymore than you can with treasuries?
There are a number of ways to hold them, but what I'm talking about is either a money market fund like SNSXX or ETFs that pretend to be money market funds like SGOV. You sell, wait for it to settle, then transfer - that'll be a couple business days generally for it to be available in a different financial institution. Personally, I still keep a third of our emergency fund in a low yield savings account at a national bank so it's available instantly if we need to transfer to checking or pull cash from an atm. But the other two thirds is in SGOV and i-bonds, yeah, where we're trading a bit of accessibility for better protection against inflation.
SNSXX is a safe 4% The stock market will roar to new highs until it suddenly falls apart. Good luck on timing it perfectly!
Look into MMA funds like SWVXX/SNSXX if capital preservation is paramount. $500K will earn approx 4%+ interest, paid monthly. SNSXX is exempt from state tax.
Nah, if you're in a high income tax state, SGOV or a Treasury fund like SNSXX is better.
You can buy SNSXX. It buys debt from the government. The government guarantees it will pay back this debt and you won't lose money. If the government collapses you should have bought ammo and canned food.
Depending on the fund it may hold commercial paper what has a very small amount of default risk, these funds will potentially pay slightly more interest. Others will for example only hold treasures, SNSXX for example. Treasures are the full faith and credit of the USA government FDIC is backed by the full faith and credit of the USA government. Meaning if the USA defaults on its debt , FDIC is out the window. Meaning treasuries are as safe or safer than FDIC insured products.
The fund I'm referring to is SNSXX thru Schwab. The 7 day yield is 4%. I'm sure other brokers offer similar products, but the key is whether or not it's a treasury fund.
I have a little less than 6% between SNSXX and treauries. That's more than normal given we've just moved into a new house and I'm keeping cash on hand for minor updates we've been considering. I'm usually 3-4%.
Long answer is yes. But it depends on your tax bracket and your state of residency. You can use a muni-based money market fund which is tax exempt. This would have a lower yield but on a post-tax basis - it could be higher. Since you mentioned SNSXX - I assume you are a Schwab customer. The list of Schwab muni money market funds are here - [https://www.schwab.com/money-market-funds](https://www.schwab.com/money-market-funds)
Hmm, it does seem like a common theme that the people that answer the phones don't always seem to know what they are talking about. Do you happen to know if SNSXX counts as cash for CSP?
Moving money in and out of money market funds like SPRXX or SNSXX is quick and easy, some banks even let you write checks or take ATM withdrawals directly from a money market
Put it in a money market, I use Schwab, SNSXX is getting ~4.5% right now
I made a CD ladder at the beginning of the year but never went through with purchasing the next rung after they matured. The funds are in SGOV and SNSXX currently. Thanks for the suggestion of PAAA and PULS.
Either a High Yield Savings Account (HYSA) or Money Market Mutual Fund (MMMF). I personally use SNSXX, but there are a lot of good ones out there and with any mutual fund you should pick one provided by your broker (avoid load fees).
SNSXX - Schwab U.S. Treasury Money Fund, California state tax free. You would still pay Federal tax, but it currently yields 4.5% and is virtually risk free.
For pure cashflow generation on a $5M NLV account you may consider a "cashflow ladder" with mix of different income generating securities. For me that consists of SNSXX (or your favorite tax favorable Treasury bill MM) ARCC, SEIX, IBHE and use CC / CSPs on a small basket of stocks to "ice the cake" with rate of return. Blended I am making 6.73% Tax Equivalent Rate on the following. Core Positions: SNSXX (60%), IBHE (25%) Supplemental: ARCC (5%), SEIX (5%), CC / CSP (5%, I write on F and NVDA) On $5M a 6.73% rate nets \~$28k per month (pre-tax) and $336k / yr according to my calculator. If FOMC continues to drops rates, my plan is to rebalance a bit of the MM into JAAA.
I'm in a high income tax state so I use SNSXX. It's Schwab
What does VTIP look like for state taxes? Taxes are what has led me to SGOV and SNSXX for cash equivalent holdings.
Nobody has said mine: SNSXX - Schwab’s US Treasury MM, with no state tax. Any reason this is better or worse than the other options listed in this thread? I thought it had slightly higher yield than OP’s original options?
It's actually nice to have some money in a money market ETF, because **if** you're a buy and hold person who refuses to time the market, and **if** the broad stock market barfs 20% for a year or two (like the 2022 inflation bear market), and **if** in future you want to take some money out of your investments, you can sell some SNSXX during the market barf and not feel bad about dumping QQQ while it's down 20%. Your money market never goes down. Plus, if the market dumps 20%, SNSXX also gives you some cash to redeploy to aggressive long positions, so that you can ride the recovery up with more equity allocation than you were holding when you went down. And you should always go up with more than you went down with.
If it’s a few years, put it in a reliable mutual fund/etf. Compare the 3 year performance of SNSXX vs SPY. Barring a multiyear recession, SPY will vastly outperform.
Good point. I forgot to mention the taxes. It is the reason I go with SNSXX in my taxable rather than SWVXX like I do in tax advantaged accounts. Personally this is why I sent this route over CDs
I am with Schwab. Although I'm not sure if it makes much of a difference really who you go with. SGOV is an ETF so it can be bought at any of them. The reason everything low risk was paying the amounts it has been, was directly tied to gov bond prices. If you are okay with locking in a rate, my suggestion would be to go with a combination of CDs and SGOV. Personally I just have everything in my taxable brokerage in SGOV and SNSXX. Although having both is kind of pointless.
You missed the boat for those sort of returns for ultra low risk. If you are wanting something to replace a hysa something like SGOV, SNSXX, SWVXX( or whatever your brokerage equivalent is). I keep all my cash equivalent in a mix of SGOV and SNSXX. Other than that you might have luck with some CDs.
It’s now in SWKXX and SNSXX.
Why not switch out SNSXX to SUTXX and get little more returns?
Is a good question and there is no quick easy answer as opinions are probably mixed and broad. At the end of the day we want the best risk to reward ratio when investing our money. The best risk free rate is usually in short term treasury bills (with the benefit of no state income tax on your gains if you live in a state that has that). If you want fast access to your money, a fund based on short term treasury bills could be a good option, such as SGOV or VUSXX if you have access to it on your broker. It is possible to reasonably estimate long term returns in the stock market and avg annual return if you go out at least 10+ years. Of course with the market there is the concept of 'risk'. Estimating that return and comparing it to the current risk free rate and deciding if the additional risk is worth the additional yield is basically what we have to do. Also, hello to a fellow Discover HYSA user! The rest is a bit more complicated mumbo jumbo: I personally keep just enough to pay my bills and such and such in my HYSA and leave the rest in SNSXX in Schwab. Yes I could eek out a bit more with something like SGOV or treasury bills, but SNSXX and similar funds are absolutely zero maintenance. They even reinvest themselves, and from Schwab's perspective, are like cash in certain situations. For example, I can still sell conservative cash secured puts as long as enough funds are in SNSXX to increase my yield just a smidge if I feel like it. Not sure if this works for holding SGOV, must test it out...
Didn't know SGOV get the state tax benefit that t-bills do! Is this confirmed? And do you know if it applies also for other t-bill based funds? SNSXX, VUSXX, etc.?
SNSXX for me (state tax exempt for Cali)
Waiting for my Schwab SNSXX dividend payment, payable today. Still not showing up!
Safest would be US Treasuries TBills. Next Safest would probably be something like SNSXX which is Schwabs version of a mutual fund that basically invests in Treasuries. After that would likely be long term bank CD then Total market index funds as others have mentioned like VTI, VOO, QQQ, etc some are more concentrated in specific industries than others but all nearly the same. If you want the safest with possibly least return see the above ones (those fluctuate with banks borrowing interest rate. Want the best return and still have some security look at the total market index funds.
Agreed, 50 in a HYSA and 150 in SNSXX. If there are big rate changes I might look around but this is nice enough for the emergency fund.
Money Market Fund that holds treasuries maybe. SNSXX comes to mind.
This guy could’ve kept it in a treasury type mutual fund, I have $65k in SNSXX, and gotten a 5% yield making him $40k a year guaranteed. This kid is an absolute dumbass.
As I said, either SPLG or SWPPX is fine. The are both invested in the S&P 500 index and have the same portfolios. They have the same expense ratio, 0.02%. If you prefer an Exchange Traded Fund (ETF) then SPLG. If you prefer setting up automatic investing and buying as little as $1 at a time, then SWPPX. I, my wife, and my adult children all own SWPPX, but SPLG is fine too. To help you decide you should review the differences between mutual funds and ETFs. https://youtu.be/JUtes-k-VX4?si=GXwTwLVprvQ6x1e6 https://youtu.be/Tv4pkivGvdU?si=a0AYB9rPc6y8wsoz For HYSA, SGOV or SNSXX.
SNSXX Schwab U.S. Treasury Money Fund™ Investor Shares is currently yielding 5.01% and should be free from state income tax. Maybe a better choice for your particular situation is **SGOV** iShares® 0-3 Month Treasury Bond ETF that gives you more yield at 5.27% and is state tax free. Money market funds have essentially no risk of losing money. SGOV is slightly sensitive to interest rates and might have slight capital loss if interest rates went up, which is very unlikely. An interest cut between now and December is more likely, in which case you share price should go up. Put whatever you need for the trip into SGOV. Put the rest into the Roth IRA.
Yes, you buy SNSXX just like a stock for $ per share. SNSXX is a money market fund. The share price is kept at exactly$1 per share at all times. Since the share price is held steady there will be no capital gains or losses for taxes. It accrues dividends daily for the amount of money held for each day. The dividends are distributed monthly. It's currently paying 5% annualized rate. This will go down quickly if the Fed reduces their interest rate, but so will HYSA. The Fed is expected to lower their interest rate 1-3 times through 2024 - probably in 0.25% increments.
With SNSXX, state tax free only works for those living in high tax states, like California, and that you are a big earner. Otherwise, SWVXX is a better choice. Its not state tax free but it offers a slight higher rates. As of today, SWVXX pays 5.27% annually which SNSXX pays 5.14% annually.
So there are no fees associated with SNSXX?
I mean if you are ok with the 2-3 days that it may take to liquidate and transfer the funds I lean to SNSXX or even short term bond ETFs like SGOV , they pay 5%+ are backed by the full faith and credit of the USA government (like FDIC) and are exempt from state taxes if thats an issue
So which one is better in all over ? A random bank with HYSA with rate of 5.00 or let’s say SNSXX with the rate of 5.00? I know you can’t cash it right away for one . And other thing is that no state income tax .
I use SNSXX from Schwab - 5% and state tax free
SNSXX is an all treasury money market fund. You should get the same tax benefits of holding individual treasuries. You may have to do a bit of calculation at tax time.
I'm going to assume your goals are: 1: Have a near zero chance of dropping in value 2: Have the money earn as high of a post-tax yield as possible without violating goal #1. A money market fund is probably your best fit. If you are in a high tax state then a US Treasury Money Fund would be your highest post-tax yield with near zero risk to principle. For example, the Charles Schwab SNSXX fund has a 5.02% yield and is state tax free. If you are single in CA and make between $69k-$349k (9.3% tax bracket) then this fund would be equal to a 5.53% HYSA. Math: 5.02/(1-.093) If you are in a income tax free state then a regular money market or even a HYSA might be a better fit.
I’m in the same situation. I parked it all in SNSXX. It pays about 5% now, monthly dividends. Plus most of the dividend is state tax exempt.
Not in a place where I can check myself, but you might want to see how much overlap there is between the funds you hold and adjust to reduce overlaps. I’d add some VXUS to get international exposure. I think you have too much in cash. If you need quick access to cash, put the funds in SNSXX and withdraw as needed. It’s paying about 5% now. A good percentage of the dividends are exempt from state tax, which is important in NY state.
SNSXX is a good option, too. Dividends are exempt from state tax, yield basically equal to SWVXX.
I think it has to do with the taxes you'd pay. You won't pay state income tax on SNSXX since 96%+ is from Treasury bonds
What's the difference between SNSXX and SWVXX? I have mine in SWVXX.
since you mention Schwab, you could just park the $ in their MMF: SNSXX and not worry about withdrawl penalty or having to rebuy. The current rate is showing 5.01% if you can withstand the monthly way treasury ETFs work (NAV moves a bit between exDiv dates), then you have the option to use some of those too and get a bit more %%. checkout USFR, SGOB and many more...
Does SNSXX for the bill? > Fund Strategy The investment seeks the highest current income that is consistent with stability of capital and liquidity. The fund will invest at least 99.5% of its total assets in cash and/or government securities; (including bills and notes); under normal circumstances, at least 80% of the fund's net assets will be invested solely in U.S. Treasury securities (excluding cash). It may invest up to 20% of its net assets in: (i) obligations that are issued by the U.S. government, its agencies or instrumentalities; and (ii) obligations that are issued by private issuers that are guaranteed as to principal or interest by the U.S. government, its agencies or instrumentalities.
SGOV was 96% state tax exempt in 2023 https://www.ishares.com/us/literature/tax-information/2023-ishares-us-government-source-income-information-stamped.pdf Interest from treasuries is subject to federal taxes but state tax exempt, if you own a fund where some % of dividends came from treasury interest, that % of the dividend is exempt from state taxes. SNSXX and SGOV are very similar here. BOXX is much different in structure and tax treatment but seems the subject of scrutiny / unclear on if there might be corrective action down the road.
Agreed. Or a treasury money market fund like SNSXX or VUSXX that would feel more like a savings account. At Fidelity I think you can even pay bills and write checks from them.
I have our money in SNSXX, it's a mutual fund with no state income tax (helpful if you're in CA). It gives you \~5% with monthly dividends.
I have various accounts at Schwab and when I’m holding cash positions in an account, I keep it in SNSXX. It’s a money market fund that invests in US Treasuries. Current yield is around 5%.
Because treasurydirect is an awful website, and the 1 day turnaround for an index like SNSXX is better than 7 day turnaround. Id rather have Schwab buy the TBills and I buy into SNSXX.
That depends on how many years it is intended to remain invested. Short term (<5 years) I would put in something like SGOV or a treasuries based money market fund like SNSXX for example. If long term (>5 years, ideally 10+) then a broad market index like VT, VTI, or SCHB for examples.
and the market is still ignoring reality unless you’re actively trading it you havent made a profit regardless and you keep holding it down past recent lows when the cracks cant be ignored anymore. earnings arent there consumers are cracking under inflation and these prices wont go down they will just go up slowly. stores closing everywhere, layoffs, but the stock market is like o ya that rate cut gone fix everything. ill keep actively trading and keeping my profits in SNSXX.
SNSXX. Been paying 5%+ for the last 9 months, only taxed federally.
SNSXX is the fund that contains only state tax exempt funds, so if you are in a state with state income tax (Cali) then you would want SNSXX, but we are really nit picking at $60k investment levels
For now, open a Schwab account and place the money into a money market fund, SWVXX, SNSXX, SWGXX, etc (these are all mutual fund examples), you'll get paid the 15th of every month with an interest payment, and you can access the money within one day if you ever need to liquidate any of it. 60k will yield you about $258 a month, and you'll accrue this interest daily, you can re-invest it to build the 60k and the interest you earn will compound, this may motivate you to continue saving
I was just about to suggest a Treasury Money Market fund. I don't trust the Prime ones. I park my money in SNSXX until the market pulls back. Then I deduct from there and buy during pessimism. I replenish along the way. Right now the VIX is too low to deploy all at once. Parking it in Money Market fund until a little more pessimism is the way to go. No one wants to deploy funds and watch them immediately tank.
Yeah specific money market accounts that only invest in short term US treasurys, such as SNSXX they get state tax exceptions for high income state tax as well. A lot easier than navigating Treasury direct UI. This is one trick that banks hate now that is subtly making the news in capital ratio drain...
SNSXX looks like that's Schwab's version.
None of the ETFs you mentioned remotely resemble a savings or money market account. While perhaps great for actual investing, definitely not ideal for emergency account or general short term savings and are a far cry from being safe. Use this link to review the various money market options at Schwab: https://www.schwab.com/public/schwab/nn/money_fund_yields.html . Schwab does not offer a traditional HYSA but money market gets the job done just as well (for now based on rates). SWVXX gives you the highest return, but if you are in a state with moderate to high taxes, SNSXX might be better as treasuries are exempt from state income tax.
You talking about stuff like SNSXX right? I was thinking about this as well, since it can have tax benefits depending on the state.
Assuming you will buy VFV in a brokerage account, the simplest approach is to find the highest post-tax yielding, stable asset that you can purchase in the same account. Using a U.S. example, I would purchase U.S. Treasury bills either in an ETF (e.g. USFR, SGOV) or money market fund (e.g. FDLXX, SNSXX). These are exempt from state tax where I live. If I had a longer term DCA strategy, I would be constantly watching bond offerings with appropriate maturity dates. I would either use government agency bonds which are, again, exempt from state tax; or I would use corporate bonds. Right now is also a good time to consider new issue callable bonds with the highest yield, as these will likely be called when rates drop. Not a guarantee and this involves market timing, but I like the approach regardless. While a bit more risky, I also like high yield bond funds such as SPHY which has a mix of investment grade and below corporate bonds. I would not put the money into anything that tracked the actual equities market, and I would not use anything with an eroding NAV like QYLD and its ilk. Hopefully you can extrapolate from this U.S. based info and apply the ideas to Canadian options.
Right now, I hold stocks, etfs, etc with one broker, and have a HYSA at a different institution. I'm thinking of moving a big chunk of the money from HYSA to SNSXX for better returns (due to taxes) and easier management. It does feel like I'm keeping too much of my money in one account, but as long as I stay within the $500,000 limit for SIPC, this should be pretty safe right?
1) I personally use Schwab and have had nothing but positive experiences with them the customer service is wonderful. The primary issue with them is the default interest for uninvested cash in your brokerage account is .45%. I don't really keep uninvested cash, but for others who do Vanguard or Fidelity would potentially be a better option. 2) Can't speak to the other brokerages, but at Schwab buying Treasuries is simple just a few clicks or a search in the search bar away. If you can't figure it out on the website the customer service is super friendly and can probably walk you through it. Treasury money market funds like SNSXX at Schwab or short-term treasury bills are good places to keep emergency cash. 3) Most brokerages offer free trades for individual stocks and etfs, however, I would steer clear of active trading especially when first starting out. You may be very smart, but you are not smarter than the market and will probably lose money (saying this to my old self as much as I am to you haha). You would be best served by a total market fund like VT (Vanguard's Total Word Stock Market ETF) in a regular taxable brokerage account or if in a retirement account (like a Roth or Traditional IRA) with an indexed target date retirement fund based on your age (ex. SWYNX at Schwab if retiring in 2060). If you don't mind me asking what was JPM suggesting? Apologies for length.
Timeline and purpose for this particular money? Goal? Short term may look into SNSXX while you decide r/Schwab
SNSXX. Collect the guaranteed 5% and reallocate your funds if you decide you want to do something riskier.
Sure that works too, the rate I gave for SNSXX was net fees. VMFXX net fees is 5.16% at least right now. For HYSA versus MM, it basically comes down to whether a tiny increase in risk is worth the extra 0.5%.
High yield savings account (4.0-4.5%) or government securities money market fund like SNSXX (4.30%-5.0%). Investing in anything with higher volatility is just flipping a coin if you intend to use the money in the next 3-5 years.
Or Money Market funds that exclusively hold US Federal Government issued debt like tbills/notes/bonds (but NOT government backed debt). Same State tax exemption, more liquidity. Some Schwab funds for example: SNSXX (US Treasury money fund) dividends are State tax exempt but SNOXX (Treasury obligations money fund) is only partially exempt (biggest holding (40+%) isn’t) and SNVXX (Government money fund) isn’t at all (or an extremely small percentage). Basically, you want to see “Treasury Debt” on the books, not “Repurchase Agreement”. Other securities (like ETFs) that hold Treasuries can have State tax exempt dividends but are likely to have capital gains/losses considerations as well.
SNSXX is treasuries. State tax exempt
Hi, I have a question. Please forgive me ignorance as I am still learning about this stuff: When people say tax-deferred/tax-exempt accounts, they are referring to: Roth IRA, traditional 401k, HSA, and 529, etc. If I have all this stuff maxed for the year (already have emergency fund), and have extra cash lying around (20k), should I put it in a taxable brokerage and buy ETFs/mutual funds (e.g. SWPXX), as I have heard these are better in taxable accounts. Previously, I had this money in SNSXX, but my roth IRA was growing quite a bit with 80% SWPXX. Thank you! State: California, income: 75k - do not need the money in the next 2-3 years, no debt
Hi, I have a question. Please forgive me ignorance as I am still learning about this stuff: When people say tax-deferred/tax-exempt accounts, they are referring to: Roth IRA, traditional 401k, HSA, and 529, etc. If I have all this stuff maxed for the year (already have emergency fund), and have extra cash lying around (20k), should I put it in a taxable brokerage and buy ETFs/mutual funds (e.g. SWPXX), as I have heard these are better in taxable accounts. Previously, I had this money in SNSXX, but my roth IRA was growing quite a bit with 80% SWPXX. Thank you! State: California, income: 75k - do not need the money in the next 2-3 years
>t funds at schwab, fidelity, and Vanguard that are paying over 5% and offer state tax free interest so unless you're paying 40+% fed taxes you'd be better off with one of these. VUSXX and SNSXX I did the math with the below formulas and JGCXX came out ahead. Taxable money market fund post-tax yield= 7 d yield x (1-federal marginal tax rate-state marginal tax rate) General municipal money market fund post tax yield= 7 d yield x (1-state tax marginal rate) State specific municipal money market fund post tax yield= 7 d yield x 1 However, I'm beginning to question the whole strategy given all the swings that occur on a month to month basis with money market funds
There are multiple money market funds at schwab, fidelity, and Vanguard that are paying over 5% and offer state tax free interest so unless you're paying 40+% fed taxes you'd be better off with one of these. VUSXX and SNSXX come to mind.