Money management professionals will tell you that a smart personal financial plan requires spreading your money among different types of financial products with varying levels of risk, not "putting all your eggs in one basket," so to speak. For money management goals that require years or even decades—such as building a retirement account—you probably are willing to take on more risk in return for greater potential reward. Some experts say mutual funds that invest in stocks and other securities could be a good choice for this part of an overall strategy. Be sure to consult with a financial planner familiar with your situation.

But most financial experts also recommend keeping some money in accounts that allow you to grow and manage your personal wealth without much or any risk. Deposits in money market, savings accounts and other FDIC-insured accounts may fit into this part of the financial equation. Online banks such as Ally Bank are able to pay some of the most competitive money market account rates available because they don't have the overhead of maintaining physical facilities.

Accounts like money market savings accounts are likely to grow at a more modest pace than you may see from riskier options. However, deposits in money market savings accounts and other such bank products are more secure against losses. "Every portfolio needs a component that helps to stabilize returns and protect the consumer from excess volatility in the markets. Money market [accounts] fit into the lower-risk part of that portfolio," said D. Scott McLeod, a senior financial planner with Charles D. Haines, LLC, in Birmingham, Alabama, in an interview with Ally Bank.

With an Ally Bank Money Market Account, you earn a variable rate that's consistently among the most competitive in the country according to, and you can open and fund your account with any amount. You can use any Allpoint no-fee ATM—plus receive up to $10 reimbursement for fees charged at other ATMs nationwide each statement cycle. You also get free standard checks and a debit card for convenient access to your money.

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

Ally Bank, member FDIC

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