Comments on: Most Popular Posts in 2007 http://thefinancebuff.com/2007/12/most-popular-posts-in-2007.html like a friend telling you about money ... Thu, 19 Nov 2009 19:44:17 -0600 http://wordpress.org/?v=2.8 hourly 1 By: TFB http://thefinancebuff.com/2007/12/most-popular-posts-in-2007.html/comment-page-1#comment-365 TFB Tue, 01 Jan 2008 00:15:00 +0000 http://blog.thefinancebuff.com/?p=205#comment-365 I haven't heard about that one but I know they offer Cash Maximizer Savings accounts hidden from most people. See <a HREF="http://bankdeals.blogspot.com/2007/09/571-money-market-savings-account-at.html" REL="nofollow">post on <i>Bank Deals</i></a>. To me, all bank savings or money market accounts suffer the same problems:<br/><br/>1. Rates are set arbitrarily by the bank. They can be competitive today and become totally uncompetitive tomorrow. A Fidelity or Vanguard money market fund will always offer competitive rate set by the market.<br/><br/>2. For people in higher tax brackets, a tax-exempt money market fund often has higher yield after tax.<br/><br/>3. Bank savings or money market accounts have a limit of 6 withdrawals per month. Money market funds don't have that limitation. I haven't heard about that one but I know they offer Cash Maximizer Savings accounts hidden from most people. See post on Bank Deals. To me, all bank savings or money market accounts suffer the same problems:

1. Rates are set arbitrarily by the bank. They can be competitive today and become totally uncompetitive tomorrow. A Fidelity or Vanguard money market fund will always offer competitive rate set by the market.

2. For people in higher tax brackets, a tax-exempt money market fund often has higher yield after tax.

3. Bank savings or money market accounts have a limit of 6 withdrawals per month. Money market funds don't have that limitation.

]]> By: Anonymous http://thefinancebuff.com/2007/12/most-popular-posts-in-2007.html/comment-page-1#comment-364 Anonymous Mon, 31 Dec 2007 22:43:00 +0000 http://blog.thefinancebuff.com/?p=205#comment-364 Hi TTB, Happy New Year. Have you heard of a new Money Market Select from the Bank of America? They are running a pilot program, offering 4.5 APY for a FDIC insured Money Market select. I was going to move my cash into Fidelity or Vangiard, but I might as well just keep it there. Your thoughts? Hi TTB, Happy New Year. Have you heard of a new Money Market Select from the Bank of America? They are running a pilot program, offering 4.5 APY for a FDIC insured Money Market select. I was going to move my cash into Fidelity or Vangiard, but I might as well just keep it there. Your thoughts?

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