|
|
| *Home>>>Money Market Funds |
What's the best type of savings account? |
Ok, my fiance and I are trying to save some money to buy a house. I am totally clueless as to what is the best way to save. I've heard maybe a money market account, or mutual funds... I'm not really sure what this stuff is. Does anyone have any good advice on what accounts would be best? Thanks! What I recently discovered an an Insured Money Management Account also known as IMMA. Some financial institutions offer then while some do not. The one I found offers a much higher interest rate which varies month to month (3.0 to 3.2% is what I've seen so far and it's paid every month instead of quarterly). Keep in mind though that you have to keep a nice chunk of change in there in order to get interest For example, a minimum $2000.00 balance to get interest & if you fall below the minimum, the interest goes away until you hit the minimum again so at that point you'd be best off to move what you have left back to your regular savings acct in order to get the 1/2 percent until you can build it back up. You don't lose any that you have earned in previous months by falling below the minimum which is nice. mutual funds are a low risk investment, they usually make money faster than savings. I would stay away from anything of high risk because your looking to buy a house. Savings is essentially no risk, but with no risk comes very little reward (very little interest). You could also try stocks, i know someone recently who invested in some type of uranium mining company and made over 9 million in profits from a 100,000 dollar investment....lucky bastard. I invested in all of these, and theyve all given me more money than i started with. If you dont know much about stocks then maybe you should just stick with a savings account. I work for a large bank and they offer a savings acc which can give up to 8% intrest for up to saving of 拢250 a month! It isnt a bond so you can with draw the money when ever you want but you will loose the intrest if it is withdrawn with in a year? But then again Nationwide and halifax offer good isa accounts too????? |
| Tags |
| Online Investment Online Business Offshore Investment Mutual Fund Money Market Funds Money Investment Managed Fund Make Money Low Risk Investment |
| Related information |
Does the dog wag the tail or the tail wag the dog. If the overall economy goes into a depression/recession than we could have a large market crash. We could also have a market crash due to fear, ... For complete details on the programme please visit the following link:... Sort of a long winded question. There is a slight difference. China and Japan and the oil exporters are the main purchasers of U S bonds. They buy them because the alternative is too frighte... A manufacturer? There are many rip off places that charge you to market your invention, they will make any invention for a price, it does not matter if it is marketable. Be careful. Contac... For the time being you should first make sure you have enough money in a regular savings or checking account to serve as a safety net in case you have some sort of emergency. If you can keep at lea... If you're a soon to be retiree and you're looking to lock in a stream of income with next to no risk, a fixed annuity is the right answer. People automatically think of variable annuit... You may want to go and pitch your ideas where investors gather. But be prepared to answer the questions a potential investor will ask you -- e.g. do you have patents, market potential, etc. Here... 1:Pay off your credit card balance immediately. 2:Save for your honeymoon since it's 8 months away and I'm assuming you don't want to touch your emergency fund. 3:If you have a 401... |
Categories--Copyright/IP Policy--Contact Webmaster |