"I find it very hard to believe there are many people with MILLIONS of surplus cash, and they had it in 0.5% interest earning accounts a few years ago, and now it is sitting in 4.5% interest earning accounts."
That could be so, but now with 5% interest and the market moving up to new highs, many have taken profits, except for maybe MAG7 stocks, sold out fairly-valued stocks that only have a 3-4% dividend, and have gone to short-term savings to await the market coming back down.
I, and a couple of others, have mentioned our high cash positions. For me, my cash is at the highest level and highest % of portfolio, that it's been in the last several decades. Given my situation, it's no problem at all for me to believe there are many people who have surplus millions of dollars tucked into 5% money market funds/bank savings accounts. |
