Comments on: Brokerage Money Market Funds – A Great Cash Option

By: Generation X Finance » ING Direct Increases Savings Rate To 4.5% APY, But There Are Still Better Options Available

Wed, 29 Nov 2006 15:55:09 +0000

[...] Personally I have never been much of a fan of opening a separate savings account with a company like ING or Emigrant. I have enough accounts as it is; checking, savings, brokerage, vanguard, etc. I don’t need to make my life any harder by opening yet another account. That is why I wrote last month about another option to these savings accounts that can not only simplify your life but yield higher returns as well. [...]

By: LAMoneyGuy

LAMoneyGuy — Tue, 24 Oct 2006 17:06:38 +0000

Schwab has a stand alone MM called the Value Advantage that pays over 5%, but requires $50k min.

By: JRurm

JRurm — Tue, 24 Oct 2006 03:16:52 +0000

Thanks for the heads up on those Money Market Funds. I’ve heard great things about them, especially the Vanguard. You are quite the financial guru, I’ll be checking back here frequently to see what other nuggets of wisdom you dispense in the future.

By: Jeremy

Jeremy — Mon, 23 Oct 2006 22:00:07 +0000

I forgot about Schwab, thanks. Is it just the sweep account that you can use if you have a schwab account, or do they have a standalone money market fund that can be purchased in any brokerage account?

By: LAMoneyGuy

LAMoneyGuy — Mon, 23 Oct 2006 20:46:30 +0000

Schwab is also right up there in the 4.8% range for the taxable sweep account.