That depends on whether you're part of Vanguard's target audience: retirement investors, especially those with
relatively high account balances.
Not exact matches
Generally, the ideal candidate to consolidate debt through Payoff will have a
relatively high level of income and significant
account balances on
high interest credit cards, but they may have managed to maintain a
high credit score despite their struggles with debt.
If you have ever left a job at a big company, chances are you have an old 401 (k)
account with a
relatively small
balance and
high fees.
Money market
accounts may be a good fit for those who have
relatively higher balances in their
accounts on a consistent basis, but who also want to be able to access the funds on demand.
The only sticking point I've had in recommending them to newer investors was the fact that you had to have a
relatively high initial deposit and minimum
account balance of $ 5000 when opening a new
account.