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sd | This video link explains very well. Of course the 250k fdic at the bank is maybe safest but anything above looks to be safer in a fidelity or vanguard money market funds.
Say there was a 1,000,000 in a fidelity money market getting roughly 4.5%. That would be $45,000 a year in interest (not compounded).
There are many banks paying 1.5 on money markets right now for $250,000. Say you broke that out into 4 banks or accounts to get $1,000,000 of fdic. Total interest would be $15,000 (non compounded)
If you had to write a check for the difference of $30,000 to get fdic insurance would you? I understand that’s not how it works but….I think I know my answer
https://youtu.be/wz64z1YuL0A | |
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For all the money market funds questions….take the time and watch
