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I'm about to open a money market savings account but am a little confused by the differences of having a MM account at a bank vs. a brokerage house.
All I want to do is start an emergency fund (read: won't be touching the cash unless lightening strikes and all my worldly possessions burn into the ground) where I can have my $ sit and collect more interest (5%+) than it would biding its time in a traditional checking/savings account.
So, I have 2 questions:
1) What's the difference between a MM account at a bank vs. a brokerage?
2) Any suggestions on where I should stash my EF?
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