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Money market funds
Old 05-18-2019, 08:19 AM   #1
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Money market funds

Any suggestions on money market funds with low initial investment?
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Old 05-18-2019, 08:38 AM   #2
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My favorite is VMMXX but that requires $3k initial investment.
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Old 05-18-2019, 08:52 AM   #3
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I suggest you investigate bankrate.com. I like Discover among the MM/Savings options. It is convenient and has a good web site. It is among the top ten rates, but it is not the highest.
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Old 05-18-2019, 09:59 AM   #4
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For the highest rates at banks and credit unions, look at www.depositaccounts.com. Sallie Mae has a good money market account at 2.3 percent. Live Oak has the same rate on a savings account.

The best broker money market funds are at Vanguard.

You can also buy new issue short term treasury bills through the major discount brokers with no fee. They are exempt from state income tax and are sold in $1,000 increments.
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Old 05-18-2019, 11:06 AM   #5
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Fidelity and Schwab have money market funds with no minimums. Well, maybe $1.00.
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Old 05-18-2019, 11:13 AM   #6
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Quote:
Originally Posted by thepalmersinking View Post
Any suggestions on money market funds with low initial investment?
many money market funds have no initial investment requirement as the brokerage expects them to be used like cash.
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