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Money Market Accounts

LikeAnOceanLikeAnOcean Posts: 7,718
edited June 2011 in All Encompassing Trip
I the past few years, I went from earning like 4.5% to .095%...


How the hell does that happen? My earnings were paying my cable bill, but now I'm lucky to get a buck every month.


Is there anything I can put my money in to actually earn something?


And if not, when the hell will money market rates go back to where they were?


Should I just put my money back into a regular savings account? If people are going to use my money, I want to make a profit!



:?
Post edited by Unknown User on

Comments

  • snow_board_ridersnow_board_rider Posts: 943
    Money markets are just for short term savings. What are your plans for the principal, when do you plan on using it. If income is your objective you should talk to a financial adviser as there are many funds that pay a much higher return. Be aware of anybody that has the answer for you before the get your full financial profile. Money markets and CD's are shitty ways that cause you to slowly lose purchasing power.

    BTW, I am a financial advisor and I'd never give a specific investment advise w/o knowing your full picture.
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  • 8181 Posts: 58,276
    rates fell like 3 years ago. i used to have a savings account paying 5%...than about every month they dropped it. that's what happens when the .gov drop the interst rate to 0 and floods the market with cash

    so i put that money into the stock market. you have to have a stomach for that.
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