Get early access

How to earn 4.83% on your cash (13x national savings acct avg)

Mar 27, 2023

Earn 4.83% on your cash — and no, it's not too good to be true. Plenty's cash mgmt product isn't a savings account; it's a managed portfolio of money market funds. The same money market funds where billionaires and hedge funds park their cash; your investment is in good company - they're held with ~$20B in assets and usually requires a minimum $500M investment. We're now giving you access through Plenty with a $100 investment minimum. All of this is part of our commitment to make it possible for you to invest like the 1%.




Inflation rates are at their highest level in 15 years. Quick refresher: inflation is when prices of things rise over time — like how a quick domestic flight that was once $250 is now closer to $400. When it comes to your money, the simple truth is that inflation means your cash buys less now than it did before.


With a volatile stock market, is there a safe place to save your money while still earning a high interest rate? A savings account isn't your only option. We've found a very low risk way to not only preserve, but grow your hard-earned cash (and no, you don’t need to be a wealthy client or hedge fund with millions of dollars). With access to a cash mgmt portfolio that currently offers a 4.83% yield, you can save like the 1% do.

TL;DR: Money market funds

  1. Are a low-risk, high-return place to park your cash

  2. Are portfolios of cash and government-backed investments (like bonds or t-bills)

  3. Earn higher interest on your savings to offset the effects of inflation

  4. You can sell anytime the market is open


What is a money market fund?

A money market fund is a type of portfolio that holds cash or government-backed securities. For the wealthy, it’s what they often use like a savings account. It's also what Wall Street's hedge funds and pension funds use when they need a safe place to park and grow their cash. Money market funds are considered extremely low risk on the investment spectrum, and they have their pros and cons, just like anything else. Here are a few things to keep in mind:


The Pros

They’re a high-yield way to grow your savings: at Plenty, you can earn 4.83% on your cash with access to a portfolio of money market fund (normally for wealthy clients, hedge funds, and big banks with $500M minimums).


You can withdraw anytime: unlike mutual funds or CDs, money market funds are highly liquid, so your funds can be withdrawn anytime with no lock-ups or penalties (withdrawals can take 2-4 business days).


They’re managed for you: when you invest in a money market fund, your money is combined with other investors' money to hire experienced people to manage the fund. 


They’re SIPC insured up to $500k per account: money market funds are required by law to invest in assets that pose minimal credit risk. Since they have to follow strict rules and regulations, you can feel confident your investment is protected. The Securities Investor Protection Corporation (SIPC) is the investing/brokerage version of FDIC insurance (which is for checkings/savings accounts).


The Cons: 

Withdrawing takes a few days; we'll sell your investment then transfer you the cash.


There are some fees: 4.83% is after all fees (it's what you'll earn). Plenty's fee is 0.2% (we want to be upfront about that, we don't believe in hidden fees).


So, if you’re looking for a great way to save and invest while earning a high interest rate, you may want to consider putting your money to work for you in a money market fund.


- Posted by the Plenty team



__ __


1 Final terms set forth in a written agreement will prevail

This information is for general informational purposes only. It is not intended to constitute investment advice or any other kind of professional advice and should not be relied upon as such. Before taking action based on any such information, we encourage you to consult with the appropriate professionals. We do not endorse any third parties referenced within the article. Market and economic views are subject to change without notice and may be untimely when presented here. Do not infer or assume that any securities, sectors or markets described in this article were or will be profitable. Past performance is no guarantee of future results. There is a possibility of loss. Historical or hypothetical performance results are presented for illustrative purposes only. An investment in a fund entails a high degree of risk, including the risk of loss. There is no assurance that a Fund’s investment objective will be achieved or that investors will receive a return on their capital.



Plenty was founded to democratize access to financial products and tools that accelerate wealth building.  Plenty Financial and affiliated entities (“Plenty”) provide a web, mobile, personal financial management and educational platform to consumers. Plenty Financial RIA, LLC is an SEC-Registered Investment Advisor. All investments made are legally owned by you. Investment accounts are not bank guaranteed or FDIC insured.Investments are held in accounts at BNY Mellon | Pershing through a partnership with Helium Advisors and are SIPC insured. Quoted rates vary with market conditions and quoted rates are from sources believed to be reliable but not guaranteed.


This site/application has been prepared by Plenty and is not intended to be (and may not be relied on in any manner as) legal, tax, investment, accounting or other advice or as an offer to sell or a solicitation of an offer to buy any securities of any investment product or any investment advisory service. The information contained in this site/application is superseded by, and is qualified in its entirety by, such offering materials. This site/application may contain proprietary, trade-secret, confidential and commercially sensitive information.


By accessing this site, you signify your agreement with and understanding of the following Terms of Use and Legal Information pertaining to both this site and any material in it. Plenty owns and maintains this site. No act of downloading or otherwise copying from this site will transfer title to any software or material at this site to you. Anything that you transmit to this site becomes the property of Plenty, may be used by Plenty for any lawful purpose, and is further subject to disclosure as deemed appropriate by Plenty, including to any legal or regulatory authority to which Plenty is subject. Plenty reserves all rights with respect to copyright ownership of all material at this site, and will enforce such rights to the full extent of the law.

Plenty was founded to democratize access to financial products and tools that accelerate wealth building.  Plenty Financial and affiliated entities (“Plenty”) provide a web, mobile, personal financial management and educational platform to consumers. Plenty Financial RIA, LLC is an SEC-Registered Investment Advisor. All investments made are legally owned by you. Investment accounts are not bank guaranteed or FDIC insured.Investments are held in accounts at BNY Mellon | Pershing through a partnership with Helium Advisors and are SIPC insured. Quoted rates vary with market conditions and quoted rates are from sources believed to be reliable but not guaranteed.


This site/application has been prepared by Plenty and is not intended to be (and may not be relied on in any manner as) legal, tax, investment, accounting or other advice or as an offer to sell or a solicitation of an offer to buy any securities of any investment product or any investment advisory service. The information contained in this site/application is superseded by, and is qualified in its entirety by, such offering materials. This site/application may contain proprietary, trade-secret, confidential and commercially sensitive information.


By accessing this site, you signify your agreement with and understanding of the following Terms of Use and Legal Information pertaining to both this site and any material in it. Plenty owns and maintains this site. No act of downloading or otherwise copying from this site will transfer title to any software or material at this site to you. Anything that you transmit to this site becomes the property of Plenty, may be used by Plenty for any lawful purpose, and is further subject to disclosure as deemed appropriate by Plenty, including to any legal or regulatory authority to which Plenty is subject. Plenty reserves all rights with respect to copyright ownership of all material at this site, and will enforce such rights to the full extent of the law.

Plenty was founded to democratize access to financial products and tools that accelerate wealth building.  Plenty Financial and affiliated entities (“Plenty”) provide a web, mobile, personal financial management and educational platform to consumers. Plenty Financial RIA, LLC is an SEC-Registered Investment Advisor. All investments made are legally owned by you. Investment accounts are not bank guaranteed or FDIC insured.Investments are held in accounts at BNY Mellon | Pershing through a partnership with Helium Advisors and are SIPC insured. Quoted rates vary with market conditions and quoted rates are from sources believed to be reliable but not guaranteed.


This site/application has been prepared by Plenty and is not intended to be (and may not be relied on in any manner as) legal, tax, investment, accounting or other advice or as an offer to sell or a solicitation of an offer to buy any securities of any investment product or any investment advisory service. The information contained in this site/application is superseded by, and is qualified in its entirety by, such offering materials. This site/application may contain proprietary, trade-secret, confidential and commercially sensitive information.


By accessing this site, you signify your agreement with and understanding of the following Terms of Use and Legal Information pertaining to both this site and any material in it. Plenty owns and maintains this site. No act of downloading or otherwise copying from this site will transfer title to any software or material at this site to you. Anything that you transmit to this site becomes the property of Plenty, may be used by Plenty for any lawful purpose, and is further subject to disclosure as deemed appropriate by Plenty, including to any legal or regulatory authority to which Plenty is subject. Plenty reserves all rights with respect to copyright ownership of all material at this site, and will enforce such rights to the full extent of the law.