His IRA Will Hold $140,000 in 'Cash' Earning 0.05% While the Fund Next to It Pays 4.3%. The Brokerage Will Never Call to Mention It
When a retiree parks six figures in the default cash position of a major brokerage, the firm quietly earns the difference between what it pays and what the market offers, and nothing in the account statement explains how much that silence costs.
When a retiree parks six figures in the default cash position of a major brokerage, the firm quietly earns the difference between what it pays and what the market offers, and nothing in the account statement explains how much that silence costs.
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