There are a lot of reasons why we save money. Most of us have to save up for everything from next year's vacation to retirement. The time frame of those goals—whether short- or long-term—plays a big role in your financial planning strategy.In general, if you're saving for a long-term goal like retirement, the experts agree that stocks, bonds, or mutual funds generally average the best profits over a longer period. Be sure to consult with a financial advisor to help you reach your financial goals.

While we don’t offer investment advice, Ally Bank does offer a variety of products that can help you meet your long- and short-term goals. If you’re looking to save in the short term, Ally Bank certificates of deposit (CDs) can be a smart choice. Ally Bank CDs come in a variety of terms and offer some of the most competitive interest rates in the country.

The Ally Bank Money Market Account sits in a somewhat unusual position when it comes to short-term and long-term financial planning: It can play a role in both.Many financial planners strongly recommend that, as part of your long-term financial planning, you build an emergency fund equal to three to six months' income, and a money market account can be just the place for that. At the same time, the Ally Bank Money Market Account can be a smart choice for more immediate needs, such as saving for a car down payment. The Ally Bank Money Market Account gives you the convenience of being able to access your funds with checks or debit card, subject to federal transaction limits. Your funds are insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum amount allowed by law and you can open and fund with any amount.

Learn more at Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559).

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