Originally Posted by Redlegs23
This is another issue I pondered. I'm no expert, but I know enough that I could put it in a money market account or something (which I believe is insured) and probably be just fine. It would probably be good for me to hear about my different options though. What are typical commission fees? If they're somewhat minimal on something like this I'd rather give him the business as he is still in his first year on the job and could probably use the business.
Those money markets have come under fire since the Lehman Bros and AIG problems. They aren't as "safe" as a savings or cd.
Take all your cash and keep it under your mattress right now.