Hello, I have 60k of cash that is currently sitting in a bank of america checking account earning almost no interest (and losing money considering inflation).
Yesterday, I opened up a Roth IRA and Taxable Account through Vanguard. Both of these accounts automatically require Vanguards Money Market (Settlement Account) VMFXX.
The Roth will be funded through transfer from my current Enterprise account. My question is more so what to do with the 60k. I am thinking of funding the Taxable linked VMFXX account and depositing 4k or so monthly into VTI or VSTAX. Once I get down to 15k or so I would hold in cash to keep as an emergency fund. Is the VMFXX a good candidate to hold around 15k at all times? Is there a better option?