The Best Money Market Mutual Funds

Editorial Note: The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by ourIf you are looking to earn more from your cash holdings, money market mutual funds might be the perfect place to invest your cash.

Money market funds can be categorized into three groups: Prime, Government and Tax-free. Prime money market funds are typically invested in short-term corporate and bank debt securities. Government money market funds have at least For example, an investment property has much less liquidity than a savings account, since it would likely require at least a couple of months to sell the property and get the cash. A savings account on the other hand is highly liquid, since a quick trip to the bank is all you need to retrieve your cash.

If this sounds similar to banks’ high-yield savings accounts or money market accounts, it is. The largest difference lies in the ability for yields on money market mutual funds to rise proportionately with interest rates. For example, as interest rates have risen, the yields on most bank money market accounts have stayed relatively flat, while money market mutual fundThis makes money market mutual funds a good place to hold cash and earn some interest.

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