Why Money Market Risk Is Minimal
Financial planners will tell you money market accounts are generally among the safest places to put your money. This is because the money in a money market account at Ally Bank and many other banks is insured by the Federal Deposit Insurance Corporation (FDIC) to the maximum allowed by law.
Many experts recommend money market accounts to their clients. “The reason I really like these accounts,” says Dylan Ross, a certified financial planner with Swan Financial Planning, LLC, in East Windsor, New Jersey, “is you’re not risking anything and you can still get a rate of return that should cover inflation.”
If you’re putting money away for retirement or another long-term purpose, there are choices that should average a higher rate of return over the years, including mutual funds that invest in the stock market. But these are riskier choices. You should always consult with a financial advisor familiar with your situation to help you make the best choices.
Discover the peace of mind that comes with earning a competitive interest rate while enjoying the protection of the FDIC. Learn more about the Ally Bank Money Market Account at Ally.com or call live, 24/7 customer service at 877-247-ALLY (2559) today.
Ally Bank, member FDIC