The
money market is a great place for investors to start, or for people who do not
want or have the possibility to make a big investment. Unlike the stock market,
the money market rates ensure a steady return or a small loss. The difference
between the two is in variation. In the stock market you can win big or you can
lose everything. On the money market you will not win as much, but you will
also get to keep your life savings. They are a great place to start, but this
does not mean that veteran investors do not invest in them.
So you
decided to invest in the money market. Before the internet you had a few
options when it came to money market rates. Nowadays you can go on the internet
and take advantage of online banking and visit sites that compare rates from
different banks. Being that the banks are constantly competing with each other
you will be able to find the best options online.
Money
market rates are changing every day. There is no one rate that will have you
set for a long time. You will have to check the rates regularly to take
advantage of the best ones. Luckily, there are sites that compare market rates
for you. They also have a large amount of details regarding specific terms, the
number of checks you can use or the minimum balance required to not be charged
a monthly fee. In most cases you will be able to invest 1000 dollars and you
won’t be charged a monthly fee if you do not drop under that amount. But always
take into consideration more than just the rate when investing. Check the
stability of the bank, if it has FDIC insurance, the number of checks you will
be able to write in a one month period and the minimum deposit amount.
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