Should I keep investing my money in a money market account, or something else?

Question

I don't want to risk losing it, but I wouldn't mind a higher interest rate.

Answer 1

I would not consider a money market account an investment account, I would consider it a savings account.  Being risk averse is understandable, particularly in a rough economy.  You may want to look into CD's, or bonds which may give you a higher yield than your money market account.

If you have any debt that has a higher interest rate than your money market account, pay down your debt.  If you save 12% on inerest you just made 12%.

Answer 2

Money market Funds are close to zero risk, but the return of 2.4% or so, is unable to keep up with inflation.

Still, in a horrible stock market like what we are going through right now, that rate of return sure beats losing 10%.  I am sure you will agree.

I have close to 70% in MM accounts, and may increase it to 80% in the next few weeks if the DOW and NASDAQ continue to decline ( which I expect ).

Answer 3

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Answer 4

Diversify your portfolio.  Have some in an active assets account, some in mutual funds, and some in straight stocks.  There are also 401K accounts, IRA accounts and many other options.  But the important thing is don't put all your eggs in one basket.