What is the difference b/w a High interest savings account and a money market account? - highest interest savings account
Seem to like what I read. I have a high interest account, and I wonder whether I get to a money market account and will be more diversified and earn more money? I am 22 and have no intention to make money in all at least 10 years, a significant down payment on a house if it helps, "for example." Thank you.
Saturday, January 2, 2010
Highest Interest Savings Account What Is The Difference B/w A High Interest Savings Account And A Money Market Account?
2 comments:
Yes, they are similar in their performance goes. A high interest bank account, you can withdraw or deposit money at any time. Some money market accounts, have the money for a certain time to stay (usually less than 1 year).
If you know that you your money back at least 10 years felt, but there was something even better performance. Most insurance companies or banks offer CDs (certificates of deposit). Produces best when your money in an instant. For example, a 5-year CD would produce 4% (per year) and 2 years, only 2% could produce.
If you have a little more grain, is also a good time to invest in the stock market (because it is very low). The stock market moves up and down years, but over a period of 10 years will do much better than any bank. (This is where insurance companies have money market funds invest their money in cash).
For this you need to speak with a financial adviser or just an online trading account is opened with an onliNE Trade King as a representative or Scottrade. (I recommend question Trade King is cheaper). It's pretty self-explanatory, how to buy. Since you probably do not want to try to figure out what to buy buy stocks, only the index fund, symbol SSO. An action of this index is automatically still buy all shares in the S & P-500. In this way, your dividends as you earn your money grows over time in value.
Good luck!
Yes, they are similar in their performance goes. A high interest bank account, you can withdraw or deposit money at any time. Some money market accounts, have the money for a certain time to stay (usually less than 1 year).
If you know that you your money back at least 10 years felt, but there was something even better performance. Most insurance companies or banks offer CDs (certificates of deposit). Produces best when your money in an instant. For example, a 5-year CD would produce 4% (per year) and 2 years, only 2% could produce.
If you have a little more grain, is also a good time to invest in the stock market (because it is very low). The stock market moves up and down years, but over a period of 10 years will do much better than any bank. (This is where insurance companies have money market funds invest their money in cash).
For this you need to speak with a financial adviser or just an online trading account is opened with an onliNE Trade King as a representative or Scottrade. (I recommend question Trade King is cheaper). It's pretty self-explanatory, how to buy. Since you probably do not want to try to figure out what to buy buy stocks, only the index fund, symbol SSO. An action of this index is automatically still buy all shares in the S & P-500. In this way, your dividends as you earn your money grows over time in value.
Good luck!
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