How Do You Invest In A Money Market Account?
With interest rates low, banks are paying little interest on checking and savings accounts. Money market accounts give you the ability to earn higher interest on cash that you don’t want to put in long-term investments such as stocks, bonds and real estate. Familiarize yourself with money market accounts, or MMAs. Know that the minimum balance of an MMA is typically steep. Many banks require a minimum balance of $15,000 or more. You’ll pay penalties if the balance drops below that level. Get on the Internet and shop for the best rates and terms. Sites such as BankRate.com offer relevant information on MMAs and other types of accounts. Identify accounts that seem to match your financial goals and your immediate needs. Find out how many checks you can write each month without paying a penalty. Find offer small cash bonuses to new account hoout how many withdrawals you can make each month without paying a penalty. Ask whether you can gain account access with an ATM card. Determine whether
