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Recommendations: 1
All, I previously posted this in the Tax Strategies board,
http://boards.fool.com/Message.asp?mid=18255265
but it was suggested to try the post here to get broader input I had a couple questions about Money Market Mutual Funds.
I was reading another post directed to the page:
http://www.ibcdata.com/mfs/tables.htm
1) when considering which to choose - should I look at the shortest Maturity days vs the highest yields ?
Does the shotest maturity day period mean that the interste is posted at the end of that period (ie: a 32 day fund posts interest every 32 days)?
2) which yields should I consider: 7- day OR 30-day or neither ?
3) how do you know whether to choose a tax-free or taxable. any simple determination? it was suggested that if I am in 38.6% tax bracket, I should use the tax-free. I am in the 30% bracket.(Over 65K, but under 90K)
4) with regard to earning interest, how does a Money Market Account vary from a Money Market Mutual Fund---?
I know that a a MMA is like a 'high interest bearing savings acct', and that a MMMutal Fund is a mutual fund that invests in short-term instruments.
What if I don't have more than $1500 to deposit, should a MMA be the first choice before a MMMF....or vice versa?
Thanks for your input. Nubian
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