Hey all,
So I'm trying to rearrange where some funds are. Currently between checking and savings, there's close to $60k. I just moved most of it to the checking in anticipation of moving it out to Fidelity for investing but wanted to get some second opinions as to what to do... I left $3k in the savings because I have Mango Money ACH setup and just for extra "cushion" for a quick emergency stash. I'm not sure how much I should leave in the checking but I'm thinking about $15k - I use the checking to make payments for utilities, rent to my dad, etc and also have this setup as my direct deposit account. That said, I'd be looking to move roughly $40k into my Fidelity, where I would just increase my current investments in the S&P500 fund or what not.
Should I leave more in the checking/savings? Or perhaps consider elsewhere to stash whatever money I want to move out? Either way, I know there's currently too much stagnant cash sitting in those accounts now and that I should probably move it out.
Any suggestions?