How Money Market Funds Can Help You Earn 5.00% ROI or More on Your Cash Savings

Wednesday, 22 May 2024, 13:30

Learn about the significant increase of over $1 trillion in investments into money market funds last year. Explore the advantages of money market funds compared to traditional bank savings accounts and how to invest for higher ROI. Discover top money market funds with 5.00% or higher variable APY and key considerations before investing.

https://store.livarava.com/f6e36465-183f-11ef-a3d1-9d5fa15a64d8.jpg — How Money Market Funds Can Help You Earn 5.00% ROI or More on Your Cash Savings

What are money market funds and how do they work?

Americans are seeking alternatives to low-interest savings accounts, turning to money market funds which invest in cash, CDs, government debt, and more.

Why money market funds matter

Money market funds offer an opportunity to earn higher yields than traditional bank savings accounts, with slightly higher risk.

Notable money market funds include Fidelity® Government Money Market Fund, Schwab Value Advantage Money Fund, and Vanguard Federal Money Market Fund.

Money market accounts: How to get similar yield with FDIC insurance

Money market accounts provide FDIC insurance and check-writing privileges, making them an attractive option for cash investments.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.