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What is a Money Market Account? Comments

  • By Jocelyn Black Hodes, DailyWorth's Resident Financial Advisor
  • June 21, 2013

A money market account is a savings account that is highly liquid and insured by the Federal government. Because of these features, they pay a lower interest rate than most other investments. Money market accounts offer many of the same services as checking accounts and are usually managed by banks or brokerages. They are generally considered to be a safe and convenient place to park money until further investment.

 

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