Comments on: Why I Ditched My Vanguard Money Market Fund In Favor Of ING Direct

By: 51 Articles About Competitive Money Market Accounts | SavingAccountsRates.com

Mon, 02 Aug 2010 15:29:11 +0000

[...] Why I Ditched My Vanguard Money Market Fund In Favor Of ING Direct: A personal account on a Vanguard money market account. [...]

By: High Yield Money Market Mutual Fund Vs High Yield Savings Accounts - Amateur Asset Allocator

Thu, 17 Jun 2010 00:55:29 +0000

[...] I’ve held my emergency fund in the Vanguard Prime Money Market Mutual Fund (VMMXX). Several years ago, the Prime fund was riding high on the then-generous short-term [...]

By: Kyle

Kyle — Sun, 09 May 2010 21:15:20 +0000

ING is FDIC insured, so I’m not worried about it. The money market fund isn’t, so if anything I would consider the money market fund to be far risker.

By: dizzyfingers

dizzyfingers — Sun, 09 May 2010 18:07:20 +0000

When yields generally are low, like now, and financial institutions are failing right and left, higher yields indicate higher risk and probably an institution that needs to suck in deposits in order to… well… get their house in order.

It might be safer to take less risk, unless you are getting a Bauer Financial rating report on ING every day. The $40 rating reports are very revealing.

By: How to Replace Your Financial Advisor - Amateur Asset Allocator

How to Replace Your Financial Advisor - Amateur Asset Allocator — Thu, 25 Mar 2010 23:01:44 +0000

[...] option of excess cash is to just park it in the bank (I recently switched to ING Direct). However, with the paltry interest rates that most banks are offering right now, that amounts to [...]

By: 7 Tips To Manage Your Debt - Amateur Asset Allocator

7 Tips To Manage Your Debt - Amateur Asset Allocator — Fri, 26 Feb 2010 11:03:45 +0000

[...] Build an emergency savings account – Don’t forget about saving money for unexpected expenses. This doesn’t help your current debt situation, however it will enable you to avoid incurring more debt should you find yourself in need of immediate cash. I personally feel comfortable keeping 12 months worth of expenses in my ING Direct savings account (I recently switched from a Vanguard money market fund). [...]

By: Weekend Links - Amateur Asset Allocator

Weekend Links - Amateur Asset Allocator — Mon, 22 Feb 2010 02:15:38 +0000

[...] Finance was hosted by Len Penzo, who actually included two of my articles (I’m sneaky): Why I Ditched My Vanguard Money Market Mutual Fund In Favor Of ING Direct here are AAA and If You Know What Would Make You Happy, Why Wait? over at ERB. [...]

By: How To Pick A Money Market Mutual Fund - Amateur Asset Allocator

How To Pick A Money Market Mutual Fund - Amateur Asset Allocator — Sun, 21 Feb 2010 04:53:01 +0000

[...] money market mutual fund vs high yield savings account debate is far from over. For example, the Vanguard Prime Money Market Fund (VMMXX) currently yields a paltry 0.23% while the average online savings account yields around [...]

By: Len Penzo dot Com

Len Penzo dot Com — Mon, 15 Feb 2010 08:41:45 +0000

The Carnival of Personal Finance CCXLIV – The Fiscally Irresponsible TV Characters Edition…

Welcome to the 244th edition of the Carnival of Personal Finance! What an honor! The main theme of this blog is all about taking responsibility for your own personal finances. So today I thought I would theme this edition of the Carnival around sever…

By: Mike

Mike — Wed, 10 Feb 2010 14:25:29 +0000

You make a great point about the risk of money markets. Many people think they’re just as safe as FDIC insured savings accounts, but they’re not. Granted, they are less risky than other saving vehicles, but more risky than a savings account.

Also, I agree with not chasing the highest yield for savings accounts, but the difference between 0.02% and 1.2% is big enough for me to make the jump even with a small savings balance!