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Reply to "need to place to park 250k - Ally Savings or Vanguard Money Market Account (VMFXX)?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][b]Money market funds can not compete with High Yield savings accounts like Ally at this time. So Ally.[/b] You may even consider locking in ~%1 with an Ally CD, since bank account rates are likely to keep sliding (high yield accounts dipped to ~.75% during the Great Recession). But CD vs High Yield Savings not a big distinction at this point.[/quote] VMFXX has 1 yr return of 1.39. Higher than Ally? https://institutional.vanguard.com/web/cfv/product-details/fund/0033 [/quote] That would be how much it returned in the last year, during most of which rates were much higher. What you’re looking for is the current effective rate: the SEC yield. SEC YIELD 0.12% C 7 day as of 07/02/2020[/quote]
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