Investing is a great way to have money set aside for retirement and a money market account is a great way to earn some extra interest money on your emergency cash fund. Like any investment you need to consider the security of your investment. Is your investment in a money market account safe? The simple answer is YES. Typically money invested into money market accounts will be safe and protected as most of the companies offering them are backed by the FDIC. However money invested into a money … [Read more...]
American Express Money Market & High-Yield Savings Rates Review
Update: is now paying . Banks across the board have been lowering their savings rates, but has been holding their rates high for longer periods of time. From March 2010 to March 2011 American Express kept their savings account rate firm at 1.30%. In March 2011, they finally adjusted their rate down by 0.15% to . American Express currently offers a high yield savings account/money market account that pays . This is a competitive rate for the current interest rate environment. Benefits of … [Read more...]
Betterment Review: Is it a Better Investment?
Are you looking for a way to get higher returns than today’s paltry cd rates, money market rates, and savings accounts? We’re always on the lookout for low risk high return investments. Betterment provides a way to invest in the bond/stock market in a simple way where you simply control the allocation. There are three steps to getting started with Betterment: 1. Signup online at Betterment.com 2. Link your checking account and transfer money (no fees) 3. Adjust the risk/return … [Read more...]
Today’s Best Savings Account Rates
Although banks have continued to lower their savings rates, it still pays to know which are paying the most: 1.35% @ SmartyPig (was 1.75%) $1 Min. Deposit 1.31% @ SFGI Direct (was 1.41%) $500 Min. Deposit 1.30% @ EBSB Direct (was 1.55%) $5,000 Min. Deposit 1.15% @ American Express Savings (was 1.30%) $1 Min. Deposit 1.13% @ EverBank Money Market (was 1.30%) $1,500 Min. Deposit Out of all of these my pick is SmartyPig and not just for the rate. SmartyPig has the … [Read more...]
Why Are Money Market Accounts Becoming More Popular than CDs?
A recent study by Market Rates Insight (San Anselmo, California) showed an increase in bank customers choosing money market accounts over CDs. Here is a quick summary of the study for the second half of 2010: Deposits in money market accounts rose by 2.6% or $138 billion Time Deposits (CDs) dropped by a whopping 8.5% or $200 billion Savings Accounts increased by $76 billion Checking account deposits moved up by $43 billion So why are people moving their savings from CDs to money … [Read more...]
