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In this episode of Financial Clarity for Doctors, Corey and Rachelle tackle some of the best places to put extra cash savings.  Having “too much cash” is a good problem to have, but we want to be as efficient as possible with anything you don’t need for your day-to-day expenses. 

Listen Here!

Topics discussed include: 

  • Good reasons to have cash reserves and not-so-good reasons 
  • Emergency reserves and short-term spending needs?  Both good reasons to have cash on hand! 
  • High-interest savings accounts 
  • Very liquid and quite a few yielding a decent amount of interest at this time 
  • Certificates of deposit 
  • Potentially a higher yield than a savings account but less liquidity 
  • I Bonds and other treasury bonds and bills 
  • Lots of different amounts of times to be invested 
  • Structured investments including market-linked C.D.s and issuer-protected or buffered notes 
  • More complicated, but can potentially participate in some stock market performance with less risks 


Ideally, we are not keeping too much money on cash (we may be better off investing some of those dollars), but for the dollars that we do need to keep fairly safe and/or liquid, let’s try to at least earn a little interest! 

For more financial planning tips from Corey and Rachelle, find them on social media!
LinkedIn: @CoreyJanoff and @RachelleVanderzanden; Instagram: @CoreyJanoff and @VanderzandenRachelle; and Twitter: @CoreyJanoffCFP and @RachelleFinance  

Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice.