The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  https://boards.fool.com/my-bank-pays-13-on-money-market-account-balances-28287383.aspx

Subject:  Re: Low interest rates hurting savers Date:  2/6/2010  1:08 PM
Author:  billjam Number:  66747 of 99732

My bank pays 1.3% on money market account balances of $10K to $40K, 1.4% if balance is $40K to $75K, and 1.5% is balance is over $75K. I took this year's IRA distribution in January and pulled cash from my brokerage account that I usually 'store' in a money market mutual fund for emergency use. I'll earn the same rate as a 6 month CD at that bank and will have access to the money any time I want. This looks like a good deal for at least this year and probably next year. If money market mutual fund yields recover I can always go back there.
Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us