HI Guys - I’ve gotten complacent since I’ve been nearly fully invested on US & ASX Markets for the past months! Now with all the sell signal coming up the univested cash is weighing on me and I’m trying to figure out how to put the cash to work until buys signals come up again. Money in the bank is earning almost no interest at the moment. I’ve used AAA on the ASX in the past - & I’m wondering if anyone has any better ideas - for ASX & US? Ideas would be appreciated. Cheers Annabella
It depends which brokers you use for the ASX and how easy they make it to transfer funds in and out. With Self Wealth. they let you link another bank account to your account with them, so you can nominate that bank to receive/send all withdrawals and deposits. It takes a day for the transfer (for large amounts) but if you are transferring to a high interest bank account you can get up to (at call) 0.8% in an SMSF account or more than (at call) 1% in a personal account, depending on the bank.
If you have funds over in the US with a broker, there is little you can do unless you want to go to a lot of trouble to get a safe tiny return. Some US brokers pay interest, Schwab for one, but it is a pittance in times of low interest and then they deduct tax from it. They don’t charge brokerage fees however, so at least that saving adds up over time.