[USER]

I have a sum of money in a money market account earning 5.25% through Ed Jones.

I will need this money for things like a roof, house repairs, payment on a house if I move etc.

It’s also where my distributions come from.

My e jones guy is always trying to get me to put a portion of it in the stock market.

I already have another bucket of $ in the stock market with him.

So I tell him again and again I will need this money & don’t need to lose it in the market.

He says I’m missing out on returns.

Heck if he doesn’t stop I’ll just take a chunk out & put it somewhere else in a money market or right into my bank account so he won’t have it to worry about anymore.

Why do y’all think he does this – so he can make Ed Jones more money?

[Csilla]

He is getting commission. Move your money. Betterment for example, has cash reserve account paying 5% and you can move in and out of your money whenever you wish.

Betterment also has robo advised brokerage.

[Guy]

Edward Jones is as bad as payday lenders! Read a few books on the subject and you will make a lot more money on your money.

There is a reason why Las Vegas looks the way it does and there is a reason why there is an Edward Jones on every street corner.

[Ty]

Some Financial’s do not pay for funds in a money market. He is most likely just trying to have it invested somewhere that he makes a buck

[Alicia]

It may appear too conservative to have that much as cash for your total portfolio— or else he’s just not listening to your needs/goals for those dollars.

Although I’d also argue, that even if you need it for a new roof, invested still makes you more money, and you can still get to your money within 3-4 days.

[Mark]

Ur already getting ripped off being woth EJ. short term savings and emergency fund should live in any Hysa or mmf.

All other available dollars should be invested

[Author]

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