How Do You Compare High-Yield Money Market Accounts?
No matter how much or how little money you have to put away, you want to make the most of those funds. Using a bank’s high-yield money market account to keep your money safe and available is one of the best ways to maximize your earnings without risking your emergency fund or nest egg. There are many high-yield money market accounts available, so it pays to shop around for the best rate. Decide how much money you have to put in a high-yield money market account. Many accounts have minimum-balance requirements, so the amount you have to put aside can have a big impact on the number of accounts that are suitable for you. Check if Federal Deposit Insurance Corp. insurance covers the bank offering the money market account. No matter what the interest rate is, safety is the most important consideration for any money market account. Visit the FDIC website (see Resources) and type the name of the bank to make sure it is insured by the FDIC. Review the minimum-balance requirements of each acco
