
Originally Posted by
Katrine
Most money market accounts are FDIC insured. Other types of accounts are effectively brokerage sweep accounts and have SIPC protection. If you feel that you have an adequte reserve of cash in savings, mm, and CD's, I suggest you begin to invest so that your money can begin to work hard for you.
Inflation is about 4% annually. Most savings make .5-2%. CD's make between 4-5% if you get a good one. Effectively, you are losing your money to inflation, or just breaking even.
Dollar Den is a great place to start. Of course, I'm not here to shill my services, but you might learn a lot from a consultation with a registered investment advisor. Don't just go to a bank or stockbroker either.....
Bookmarks