Money market account?

[Texas97]

i am building up a safety net of about 3 months of expenses. i want it to be readily accessible/pretty liquid but i want a better ROI than my savings/checking. i want to put it in a money market account. my bank offers one but wasn't sure what the best money market accounts there were.

i read "The Random Walk Guide to Investing: Ten Rules for Financial Success" by malkiel and he recommends a money market account with USAA. any other recommendations?


Texas97

 

[buddhaguy]

SeeThe Link Their "Orange Savings Account" (just like a money market) is one of best I've seen. No minimums and very high rate relative to what you can get elsewhere now. Easy to make electronic exchanges from your normal checking account.

 

[horn4life]

E=Trade or your preferred broker- Short ADSX The Link Buy on margin and keep your cash in the account to offset any temporary rises in the stock.

It is on a slow slide down now and you will have liquidity and that extra month's cash in less than 6 weeks.

 

[PukeNRally]

The best rates I found anywhere for a money market account were from Virtual Bank. The bank is a division of Lydian Private Bank and is based completely online. They've won a number of awards that you can look at on their site and they're FDIC insured.

Plus, if you list me as a reference when setting up an account, we each get 20 bucks.

Let me know if you're interested.

Check out The Link.

 

[BA93]

According to Bankrate.com, Capital One FSB and ING Direct have the best rate at 2.18% while Virtual is at 2.13.

Bank One is at .35%.

I've used ING Direct for a couple of years and they're great. Very simple (& free) to transfer money back and forth with my Bank One checking account.