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Your board member is correct on the interest rate, but the fix isn’t necessarily Vanguard specifically, it’s matching your cash to your cash-flow timeline. Keep 2-3 months of near-term operating cash in your checking/liquid account. Consider shifting the “extra” seasonal cushion (the amount over what you’ll need before revenue picks back up) to an FDIC-insured high-yield savings or money market at your bank. That gets you most of that yield without leaving your operating funds exposed to market or liquidity risk. Before moving anything I’d encourage the board to adopt a short cash/investment policy first (target liquidity levels, approved account types, who can move funds) so this becomes a documented decision rather than an ad hoc one.