The Clark Howard Podcast 03.18.26 Where NOT To Invest - NEVER EVER / The Grandparent Trap
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Mar 18, 2026 A takedown of mega banks and why they may be the worst place to park your investments. A rundown of cash management options and low-cost alternatives to consider. Practical retirement saving priorities and Roth IRA timing for younger savers. A plea to protect grandparents’ nest eggs and guard them against well-meaning but harmful financial decisions.
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Why Giant Banks Are A Bad Place To Invest
- Giant megabanks push products to capture assets while offering very low savings returns.
- Clark Howard warns they often lack fiduciary duty, charge high investment fees, and push multi-purpose branches to upsell customers into costly services.
Avoid Bank Wealth Teams And High Fees
- Avoid investing through bank-run wealth operations because they often charge upfront and ongoing fees and aren't fiduciaries.
- Use discount brokers or fee-only fiduciary advisors like Vanguard, Fidelity, or Schwab to save on expensive fees over time.
Pick The Right Cash Management Account
- Consider cash management accounts at Fidelity, Schwab, or Vanguard instead of traditional banks for better functionality and yields.
- Clark notes Fidelity and Schwab offer fuller all-in accounts; Vanguard Cash Plus pays well but is more limited in features.