What can I do with cash right now? (April 2023)

The Money Pig Podcast, sponsored by Goodwin Investment Advisory, discusses what to do with cash in April 2023. Host Reid Trego interviews Justin Pitcock, a Certified Financial Planner™ PROFESSIONAL. The podcast covers the economics of interest rates and inflation from 2022-early 2023 that caused banks to take too much risk when investing depositors' money. Options for cash include checking accounts, savings accounts, money market accounts paying around four and a half percent right now due to Fed raising rates; CDs ranging from several months to years; and Treasuries backed by the full faith and credit of our government yielding about four and a half percent currently. For clients with short-term goals or expenses less than two years away who want ultra-conservative investments or larger dollar amounts businesses have cash flow needs but want to be prepared for things like upcoming expenses we offer laddered CDs or Treasuries through brokered CD purchases that mature at certain times every six months so reinvestment can happen if needed.
Justin and Reid discuss the importance of investing for long-term goals like retirement, rather than relying on cash alternatives like CDs. They highlight the need to consider individual goals when investing and caution against reinvestment risk in a changing interest rate environment.

The Money PIG podcast is hosted by Reid Trego, a financial advisor at Goodwin Investment Advisory. The podcast is intended to share information and perspectives, but should not be interpreted as legal, financial or tax advice. The opinions shared by participants are not necessarily endorsed by the company.

Goodwin Investment Advisory is regulated by the SEC, and the company operates in compliance with applicable securities laws and regulations.