Money Market Rates 101

As with all Vanguard accounts, the best thing about Vanguard Money Market accounts is the low costs. Vanguard prides itself on keeping costs low so that its investors keep more of their money. This article will review the Vanguard Money Market accounts.

Vanguard money market funds make great savings accounts. The high money market rates offered by Vanguard make them competitive with high interest savings accounts. One of the best things about the these Vanguard accounts are that in addition to getting the best money market rates, you enjoy low costs and check writing privileges too.

Who should open a Vanguard Money Market Account:

Vanguard money market fund accounts are appropriate for investors who:

• People who are looking for a relatively low risk place to save money.
• Are seeking interest income at a rate that may be more competitive than a bank account.
• Would like convenient, free checkwriting. (Checks must be for $250 or more.)
• Will need access to their money in the near future.
• Take a very conservative approach to investment risk.

Vanguard money market funds come in two varieties: vanguard taxable money market funds and vanguard tax-exempt money market funds. If you are a taxpayer in high marginal tax brackets, you might benefit from putting your money into a tax-exempt fund. No matter which option you choose, unlike many money market accounts offered by banks, money market funds are not FDIC insured.

Types of Vanguard Money Market Funds:

Whether you are an individual or a business owner, chances are that Vanguard has a money market account that will suit your investing needs.

• Individual Accounts.
• Joint Accounts
• Uniform Gifts/Transfers to Minors Act (UGMA/UTMA)
• Trust
• Attorney-in-fact
• Custodial account for a minor
• Organization

These vanguard Money Market accounts will be explored in further detail here on Money Market Rates 101.  If you have any questions about these Vanguard money market funds, please ask in the comments below.  These Vanguard accounts have some of the best money market rates, so go check them out.