Top Yielding Money Market Mutual Funds
What would you say about investing in a money market mutual fund when a high interest savings account pays out more? Well according to one certified financial planner with SGS Wealth Management, based in Dallas, Shashin Shah says because of your tax bracket.
What does this mean for you? It means that taxes won’t eat you up on your investment. So a money market mutual fund may not be so bad after all. While a savings account may look attractive, money market mutual funds may look even better once you figure in the tax free situation.
Lets not forget that a money-market mutual fund is a security, it is not like a money-market account which is similar to a savings account. So make sure you don’t get the two confused. When you do decide to get the fund though, make sure that you get it through a Securities Investor Protection Corp. company. What this means is that if the firm you purchased the securities from should go down hill and file for bankruptcy, you will still be covered
So here are Top Yielding Money-Market Mutual Funds as of todays date and their figures.
DWS MMF (KMMXX) – 2.42% $1,000 0.44%
Fidelity Cash Reserves – (FDRXX) 2.42% $2,500 0.43%
TIAA CREF MM (TIRXX) – 2.38% $2,500 0.25%
Transamerica Premier Cash Reserve Fund (TPCXX) – 2.31% $1,000 0.74%
MFS MMF (MCMXX) – 2.29% $1,000 0.63%
August 2nd, 2008 at 1:37 am
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August 23rd, 2008 at 11:39 pm
[...] Top Yielding Money Market Mutual FundsWhat would you say about investing in a money market mutual fund when a high interest savings account pays out more? Well according to one certified financial planner with SGS Wealth Management, based in Dallas, Shashin Shah says … [...]