Best Money Market Account
Do You Need a Money Market Account?
7 Reasons to Get the Best Money Market Account
- To preserve the buying power of your money against inflation.
- To gain compounding interest.
- To save more money (it is too easy to withdraw money from a regular savings account).
- To avoid letting your money sit idle in a savings account. 99% of regular savings accounts are only paying one-half a percent of interest. WaMu offers you 9x the national average.
- To take advantage of WaMu's which is the . minimum account balance, and no fees.
- To have your money in a safe place, WaMu is FDIC insured up to $100,000 per account - there is NO RISK!
- To be more disciplined in your saving by using WaMu's optional automatic savings program which allows you to set up a monthly or weekly transfer from your checking account into your ING Direct money market. This way you won't be living on the edge of you income without putting anything aside for a rainy day, unemployment, disease, accidents, or natural disasters. You can predict but you can prepare.
It is never to late to start saving, so open an account now by clicking
Yes, I Want to Have a Financial Future by Saving My Hard-Earned Money
.
The Depends on You - Let's Compare Hand-Selected Money Market Accounts
It is one thing to quote annual percentage yields and it is quite another to see what money actually accumulates in your account. There are a number of factors to consider when determining your real return on investment. Any accountant or financial planner worth his pay will tell you two numbers: your pre-tax earnings and your after-tax earnings. If you are in the 25% tax bracket (you are in this bracket if you earn between 32,550 and 78,850) you will pay 25% of your earned interest from your money market account to Uncle Sam. Let's run a simple scenario to illustrate the impact taxes have on interest earnings: Suppose you have:-
Suppose you:
- Are 40 Years Old
- Save $4,000 per year
- Earn 5.00% APY in your money market account
- Pay 25% taxes on your income and interest each year
- Retire at 65 Years Old
Money Market Savings Interest Calculator (assuming no taxes)
especially if you use a ROTH IRA - that way you aren't taxed every year on your returns. It only takes a few minutes to link your bank account(s) and you can start earning interest today. Also, you do not need to change banks to open an account. You can click the image below to apply for one of the best money market accounts around:To learn more about WaMu and other savings banks you can visit the page.