whats the best type of money market fund?
Im looking to get my money out of a checking account so I ca make a little money on it. I have about 5,000 that I would like to invest in a money market fund. I was wondering if this is a good idea and what type of money market fund to invest in. Thanks for the help.
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A money market fund will pay a little more interest than a money market account, but remember, a money market fund is NOT FDIC insured, although it primarily invests in government debt and it seeks to maintain $1 a share. I would suggest T. Rowe Price, Fidelity, or Vanguard. They will however come with fees as money market accounts with a bank does not.