Eli5: What is a cash sweep account, and should I use that or a cash balance?

Question

Eli5: What is a cash sweep account, and should I use that or a cash balance?

In: Other

Answer 1

Cash and sweep accounts, as part of an investment account, are basically a money market account that holds your cash on hand. It let’s you make a little interest why not actively investing. No reason not to use it.