how can I find the very best money market funds?

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Request for Question Clarification by mwalcoff-ga on 25 Jul 2002 01:10 PDT

What do you mean by "best?" What are your qualifications?

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Clarification of Question by granny6x-ga on 25 Jul 2002 01:25 PDT

I am sorry, I meant safest with the highest interest rate.

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Request for Question Clarification by wengland-ga on 25 Jul 2002 06:40 PDT

Are you looking for the highest possible return over time, without
regard to management fees, or highest total return over time,
including all fees?

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Clarification of Question by granny6x-ga on 25 Jul 2002 07:55 PDT

Definitely, including fees of all kinds.  I want a net result.

You are very thorough.  I am very optimistic.

Hello,

Bankrate.com lists what money market accounts are available in a given
city and what their rates and conditions are. It also allows you to do
a nationwide search. A bank in Oklahoma offers a 3% yield.
Bloomberg.com links to this service, so it must be somewhat credible.:
<http://www.bankrate.com/brm/rate/mmmf_home.asp>

Money-rates.com lists some MMAs by yield. The highest on the list
yields 3.25%, but required a $50,000 deposit.
<http://www.money-rates.com/mmarket.htm>

Then there's iMoneyNet.com, which has another list of MMAs by yield.
<http://www.imoneynet.com/iMoneyNet/RetailMMFs/dataLookUp?type=125&table=retailmoneyfunds>

IBCData.com helps users choose an MMA based on their personal needs
and wants.
<http://www.ibcdata.com/mfs/index.htm>

MMAs are considered very safe, although they are not insured by the
federal government.

Good luck.

search strategy:
"money market funds"
<://www.google.com/search?q=%22money+market+funds%22&hl=en&lr=&ie=ISO-8859-1>

Exactly what I was looking for.  I had little confidence in my search results.

Another thing to be sure of...

Money Market funds and Money Market Accounts are two different things.
Money Market Funds are like having a regular old mutual fund. It's not
FDIC insured, but usually you can get a better rate (except for now,
b/c interest rates are SO low). Money Market Accounts are bank run and
are basically like savings accounts with higher interest rates. They
usually won't stack up to Funds, except for those few times during
your life when the market is doing poorly.