Money Market Accounts Explained

[@Jamesdave-g6m]

Biggest lesson i learnt in 2023 in the stock market is that nobody knows what is going to happen next, so practice some humility and low a strategy with a long term edge.

[@Frankloredo-z9p]

Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.

[@Mongarnsamuel]

Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.

[@Mongarnsamuel]

“NICOLE ANASTASIA PLUMLEE’’ is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@jackcarraway4707]

Regular savings: Trash. Don't use period. HYSA: Just as liquid and safe as a regular savings account. I like to use these for scheduled stuff like vacations, car maintenance/insurance, etc. Money Market: Largely liquid, but often has a limit on number of withdrawals. Good for emergency funds. CD: Least liquid, higher ARP. Good for saving for big purchases that's years down the road like a car or house. I Bonds: Great as an extension of your emergency fund. The money is locked away for a year, but interest payments adjusts for inflation, aka the mortal enemy of emergency funds.

[@christinalittle3708]

Thanks! Great add on info!!!

[@afranc5348]

Thank you

[@MantaH1202]

"Money market account" explained with simplicity and understanding. Something to think about. Thanks Andrew!

[@garym2282]

My dad just passed away and I took over the finances for my mom. Dad had over $200,000 in a MM account earning an embarrassingly low .0025% interest! I couldn't believe my eyes! He got $520.00 in interest for the entire previous year. Needless to say I scooped up that cash and bought various length CD's earning around 5%. My mom will now earn more in three weeks that that same case earned last year.

[@Saito232005]

Great work my guy. You are the true star.

[@RiriTheGifted]

Can you explain a little more on how you went about that.

[@garym2282]

@@RiriTheGifted I opened a brokerage account (Merrill Lynch) attached to my mom’s bank accounts (BofA). Transferred the cash to Merrill and purchased “brokered CD’s”. It was a little work but well worth the trouble.

[@ryan215553]

Fidelity has MM’s with 5% annual and 7 day yields

[@skylarsky3173]

@@RiriTheGifted Anyone can put money in a CD. If you have a certain amount of money that you don't need for a year, simply google CD interest rates and see who is offering the highest rate. Most banks offer CDs. You can go into you personal bank and ask them.

[@Rooneyrobsin]

Thanks so much sir for such a beautiful video. I have really benefited from the beautiful strategies you have put up and the ways to avoid unnecessary losses. Significantly the way you presented the lectures has really motivated me to take up trade as important and a way out to several financial challenges, thanks so much sir

[@Tysonfletcher-kv7of]

Yeah really an in-depth explanation that has created more clarity on the market value and how to approach it.

[@Stephaniemac-cc8wc]

Very well, I actually lost interest in trading but after much valuation on videos like this my spirit keeps pushing me to get back on investments and make out time to pay attention to the ethics that make a successful investment, nevertheless I have actually learnt that focus and proper guidance toward this will yield good results .

[@NicomaYoung]

It has been a big challenge especially as a business person who has ventured into investment but can't really navigate around the market. Giving up shouldn't be an option but rather seeking different ways to conquer it and expand to overcome the financial situations that may possibly arise in future, absolutely a great video

[@NicomaYoung]

Cash on a fix may not generate income as much as cash invested , so it is very wise to take up different investment policies and expand the different coast of wealth through these portfolios as the case maybe a good plan of better tomorrow starts with now.

[@TehNation]

Good one, it is the fact about investing. It is important one guide against these lapses that can lead to serious calamity though a proper guidance from a professional will prevent and control the level of losses one may have possibly incur over time. This was the case with me when I ventured into investment maybe because i was actually going through some difficult times that led to derail in concentration. To the best of it my contact with a professional who guided me through these difficulties and applications of different techniques and strategies respectively eventually gave me aid over it and i was able to conquer and made so much gain as time passes by that is why I am always grateful to him(Jason Herman Pierce)for his efforts and techniques.

[@Ame_rodri]

This is quite an interesting and informative video. Are you the type of person who will read as much as possible about potential investments and ask questions about them? If so, maybe you don't need investment advice. But if you're busy with work, children or other responsibilities, or feel like you don't know enough about investing on your own, then you may benefit from professional investment advice.

[@Ame_rodri]

Investment professionals offer a variety of services at a variety of prices. It is worth comparing stores. You can get investment advice from most financial institutions that sell investments, including brokerage firms, banks, mutual funds, and insurance companies. You can also hire a broker, investment adviser, accountant, financial planner, or other professional to help you make investment decisions. Some financial planners and investment advisors offer a complete financial plan, evaluating all aspects of your financial life and developing a detailed strategy for reaching your financial goals.

[@Ame_rodri]

Recuerde, no existe tal cosa como un almuerzo gratis. Si los asesores financieros profesionales están trabajando para usted, se les paga por sus esfuerzos. Algunas de sus tarifas son más fáciles de ver de inmediato que otras. Pero, en todos los casos, siempre debe sentirse libre de hacer preguntas sobre cómo y cuánto se le paga a su profesional de inversiones. Estoy feliz de haberme encontrado con el Sr. Sherma Williams en un seminario y desde entonces mi vida cambió.

[@H_lucas]

oh wow, how can I contact your manager?

[@Ame_rodri]

INSTAGRAM

[@Ame_rodri]

shermwilli trade

[@EricMoore158]

This 2024, Don't set this year financial goals without consulting a financial advisor. Their expertise ensures a solid plan for success. Building wealth involves developing good habits like regularly putting money away on intervals for solid investments

[@RhondaLawson014]

Thanks for the advice! Im new to financial planning and wasn't sure where to start. Any tips on finding a reliable financial advisor or resources to guide beginners?

[@EricMoore158]

I completely understand the impact of the new year on financial decisions - it's transformative. While I've found success in investing, especially with the guidance of my advisor Timothy Eric Meek, I still appreciate the solid foundation i had. The principles align with the core values of financial discipline

[@soniadonald152]

How can I get in touch with your financial consultant?

[@SteveDaniel152]

It's crucial to have a well thought-out strategy and not make impulsive moved based on short-term market fluctuations. Patience and a long-term perspective are keys. you should consider a market expert to guide you

[@EricMoore158]

Just Google the name to know more about his profile

[@libralonglegsart]

Wow, I realized I was sitting on a MMA with one of my banks and wasn't even using it. Thank you for this!

[@tanmay_6363]

💫🧚🏼‍♀️

[@luisandrade7829]

Thanks a million, I am shopping around for financial wisdom .

[@rl1491]

Thank you for making this video. You seem very peaceful.

[@PracticalPersonalFinance]

I appreciate that!! :D

[@Deethecarolinadiamond]

This was helpful ! Thank yoi

[@ytchrisb]

I have a giant piece of sea salt in my house too. Thanks for the info!

[@wildwoodtop]

This video conveys Real-World down to earth info! 🤟

[@davidreus9321]

This video is so Exceptional, as it answers a lot of question regarding financial independence ,enterpreneurship and how to be a good investor. Well, this year is a good year for me , as I accumulated over 50% ROI from investing. I am glad to have invested in the financial market following instructions and allowing a licensed investment adviser help me with my investment decision. .

[@alyciagordon3447]

Not quite long I started investing. I'm very curious and need help on how to enhance and increase my returns. Any good investment tips would be appreciated.

[@davidreus9321]

@@alyciagordon3447 Generally, investing requires higher knowledge. For this reason, It's important to have a solid support structure (financial consultant) to guide you through especially in asset picking. I operate with (Alexandra Diana Jose) a consultant who partners with a licensed wealth management firm. For the record, the experience has been the best for my finance. She made me financially stable investing through her help, now I earn on a monthly basis through her passive income strategy... So I'd advise you do get a good investment advisor for yourself. .

[@alyciagordon3447]

@@davidreus9321 please how do i get in touch with her Impressive. Would you mind sharing some more details. I’d like to have a talk with her.

[@davidreus9321]

@@alyciagordon3447 She is easy to find , make a quick research of her on the internet with her name Alexandra Diana Jose . She works with anyone independent of their location.

[@conniegriggs4996]

Tnx for this info, I just looked up your investment professional and found her page. Her experience is pretty impressive. I wrote her and I'm waiting on her reply.

[@Sternschnuppen85]

Thanks for this! How is a money market account different from a HYSA?

[@farlowalexify]

I opened a money market account and it has a higher interest rate is compounded as well at a credit union than what a bank offers

[@NuttedInYoMom]

Very well explained, Thank you!

[@lennoxmutterick6434]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

[@lennoxmutterick6434]

@Ingridlourd02 However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.

[@lennoxmutterick6434]

@Ingridlourd02 Clementina Abate Russo is her name

[@lennoxmutterick6434]

Lookup with her name on the webpage

[@lennoxmutterick6434]

@Ingridlourd02 You are welcome .

[@pianobar7801]

very helpful, thanks

[@PracticalPersonalFinance]

You're welcome!

[@bencalhoun8216]

Video starts at 0:48

[@DebtFreeDad]

Great vid easy to understand explanation.

[@PracticalPersonalFinance]

Glad it was helpful! :D

[@ReadEphesians612]

Thank you sir. This was great! 👍🏾

[@Kuwandi]

Money market accounts came in around 1977-8 or so - I remember it was popular I was in high school then and it was a constant noise ….as were the super high inflationary rates …ouch …12% interst on a 30 mortg… try that …my parents bought a home in 1980 , but paid off in 5 yrs ✅

[@angelajohnson7281]

Hello new subscriber, great video and thank you for your simple easy to understand explanation of money market accounts. I really enjoyed this video and will be looking at more all day today. Thanks again.

[@PracticalPersonalFinance]

Thank you Angela! I’m happy to have you as a subscriber. I hope my videos help you improve your personal finances!

[@PayampsCutz]

Hi, can you make a video of navy federal cash account thanks.

[@317MaseX]

Very informative; very well explained Thank you

[@ayanashahid775]

Great video 👍🏾

[@dnah02]

Interest rates are going up on saving accounts and money market accounts. So far I had a money market account go from .50 to .80% I hear the rates will go up more so let's see.

[@crewdalews]

Very helpful

[@Jayydyy]

Hey loved the video! Quick question what’s the minimum balance you’d recommend/suggest for a beginner to open a money market account with Ally? I know there’s no min balance required to start, but I want to get your input on a good min balance (: Thank you 🙏🏽

[@PracticalPersonalFinance]

Hey John, thanks so much for watching!! As I mentioned in the video, I think money market accounts are a great place to store your emergency fund. They gain a little bit of extra interest and the cash in the account is very easily accessed. That being said, I'd go ahead and start a money market account with as little as $100 and build myself a fully funded emergency fund little by little. You gotta start somewhere! If you're interested, I made another video about how much you should keep stashed away in your emergency fund. Here's the link: kzbin.info/www/bejne/pJelpntmr5qVf7s

[@Trignama1]

I'm just getting into this stuff. 2 Months ago I could officially claim I was debt free, and have since been saving furiously. I have started my "nest egg" in a normal savings account, however, after researching the benefits of a money market, I just applied for one. Now I don't have 6 months of my expenses in cash yet, hell no where near it, but I'm going to take what I have, open the account, and just set up an auto deposit to it every time I get paid.

[@broabc66]

$1500 should be your minimum

[@noslipups3657]

so i have a question and i hope you respond and maybe i can book a consultation but im starting a very successful business soon and i want to start a money market account with around 100k or possibly more to put in there.....what type of interest can be grown with that type of money and also besides a money market account are there any other types of accounts i could use to build wealth?

[@PracticalPersonalFinance]

Great question! I would suggest using a money market account to keep your emergency fund, and perhaps any money you’ll be using in the next couple of years. Anything you’ll be hanging on to for longer; I would stash it in a retirement account like a Roth IRA or a brokerage account, invested in something like an index fund, to earn a little more of a return.

[@noslipups3657]

@@PracticalPersonalFinance yea I spoke to someone and they recommended a mutual fund & also a money market account to have my money worth for me

[@megggs2614]

Is it better to have a savings account or a money market account? Isn’t saving account the same as emergency $?

[@luxurybuzz3681]

Have both

[@joeysbestfriend2614]

Hello, I have an account at my credit union and they call it “liquid advantage money market” Do you know what the “liquid advantage” part means?

[@OfficialFelipelopez]

Ask them. It means you can access it at anytime.

[@luxurybuzz3681]

It means they dig an irrigation system in your yard after you give the bank a certain amount of money

[@FrankStJohn-xw2wu]

GOD I wanna like that SALT LAMP in the background

[@PracticalPersonalFinance]

LOL

[@JPaige-df1ut]

YES

[@theopolisIII]

Are you unable to like from the comfort of your home?

[@GailBecker-MSED-CM-Author]

😃😀😄😆

[@mzdrama28]

🤣😂🤣

[@normandeanragle6292]

What happened if banks like SVB fail in California to there money market account

[@planetjupiter1628]

Is there any chance to lose my money after I invested to money market account?

[@d.ramirez954]

I have a good amount in a market with Navy Federal giving a little over 1%

[@nobodynothing00000]

NFCU doesn't pay very well with their MMSA. I opened one at Ally Bank nearly 5% interest

[@johnlewisiii2076]

A wealthy person wouldn’t even know how much interest they earn on their savings, because they don’t think about savings this way. This could not have been better put.

[@khasimshareef7691]

Then what do wealthy people think about and where do they invest to get excellent or better ROI which makes them well off/richer? I really want to know

[@MarkoVujanic-P88]

So good place to keep your emergency money but won’t get rich of it. Sounds good

[@PracticalPersonalFinance]

You hit the nail on the head Marko!

[@Joethebro101]

But what specifically is the money market?

[@drydock43]

How safe are money markets.. Brokerage account, Didn't cover this

[@Native722]

All these accounts that kind of cross each other a little bit

[@lilcombofin1366]

👍🏻

[@PracticalPersonalFinance]

:D

[@michaelroberts5644]

You can't at credit unions

[@cashfno1000]

How can I make one

[@JdeC1994]

(1:20) TRA-di-tion-al-ly! 🙄🙄

[@wackzingo]

This video is inaccurate and misleading. There is no limit of 6 transactions per month on money market funds. Money Market Funds at banks, especially small banks are not the same thing as the options available at a brokerage like Fidelity, Schwab, E*TRADE, and Vanguard. Most banks are paying 0.6% to 3.75% but you can get 5.25% with VUSXX and near 5% on most other MMFs at brokerages.

[@officialshaunn3254]

Alson invest in Gold

[@PracticalPersonalFinance]

Risky!