Cash Management
Built for Liquidity
Put idle cash to work with a Treasury bill ladder designed for liquidity, safety, and tax-efficient income for Californians.
Current yield
3.6%+
APY *
*Yield is an annualized 4-week T-bill rate when held to maturity as of 05/11/2026. The yield shown is subject to market fluctuation.
Current yield
3.6%+
APY *
*Yield is an annualized 4-week T-bill rate when held to maturity as of 05/11/2026. The yield shown is subject to market fluctuation.
Cash that stays safe, liquid, and productive
State Tax Advantage
Interest from U.S. Treasury bills is exempt from California state and local personal income taxes, which can improve after-tax yield for California residents.
High Liquidity
Treasury bills are highly liquid with one-day settlement, giving you quick access to your funds when you need them.
T-Bill Laddering
A staggered ladder across 8-week, 12-week, 24-week, and 32-week maturities can help balance yield, reinvestment flexibility, and cash availability.
No Fund Expense Ratio
Buying Treasury bills directly avoids the fund expense ratios that can quietly reduce the return from cash alternatives.
Secure Custody
Treasury bills are held in your account at a leading third-party custodian, alongside your broader investments.
Treasury Backed
Treasury bills are backed by the full faith and credit of the U.S. government and are considered one of the safest investments available.
How it compares
T-Bill economics for California residents, side-by-side with the two most common cash vehicles.
- After-tax yield (CA)
- Higher - state and local tax exempt
- Expense ratio
- 0%
- Settlement
- Next-day
- Custodial protection
- SIPC at Schwab
- Yield lock-in
- Yes - laddered
- After-tax yield (CA)
- Lower - fully taxable
- Expense ratio
- 0%
- Settlement
- Same-day
- Custodial protection
- FDIC up to $250k
- Yield lock-in
- No - variable
- After-tax yield (CA)
- Lower - mostly taxable
- Expense ratio
- 0.10-0.40%
- Settlement
- Same-day
- Custodial protection
- SIPC
- Yield lock-in
- No - variable
Yields and expense ratios are illustrative and subject to market conditions. Tax treatment varies by state and individual situation.
Why cash works harder with Aure
Higher After-Tax Focus
Cash management is evaluated through the lens of after-tax return, especially for California residents facing high state income tax rates.
Simple Implementation
We can help build and monitor the ladder, so cash reserves do not sit idle or require constant manual reinvestment decisions.
Integrated With Your Plan
Cash strategy is coordinated with taxes, portfolio allocation, liquidity needs, and upcoming goals rather than treated as a separate account.
Ready to optimize your cash?
Build a Treasury bill ladder designed around your liquidity needs and financial goals.