I'm an incoming 1st year IB analyst. I am currently trying to upgrade my very basic BofA credit card into something more substantial with higher rewards, and it is leading me down a series of questions.

Ultimately, I am choosing between the Chase Sapphire Reserve or the new BofA Premium Rewards Card. The BofA card offers bonuses if you keep $20k+ in combined checking/Merril Lynch accounts. Now, I have about that much in a checking account. I know that it is not recommended to keep a high amount in a checking account, but I am totally lost and need advice. I have a Roth IRA and a Brokerage account. Each year, I am planning on investing about $6k into the brokerage account and maxing out the Roth IRA until I am no longer eligible and then will max out my 401k. What am I supposed to do with the rest of my money? Am I supposed to move it out of my checking into a high yield bank account online? Why is there so little information about what people do what the large sums of money they receive from being in IB? Or, am I completely missing something and am supposed to be investing $15k+ instead of a measly $6k? If you could give me advice on what you did as an analyst, I would really appreciate it!


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