Comments on: Nickels and Dimes (part 2)

By: Mortgage follies, con’t « many good things

Mortgage follies, con’t « many good things — Tue, 28 Oct 2008 16:54:22 +0000

[...] shouldn’t be easier to buy a house than a car. You should be able to invest your savings in a money market account without worrying about losing it, or having it frozen right when you might need to access it. Of [...]

By: Pork with Bones

Pork with Bones — Fri, 10 Oct 2008 07:20:28 +0000

Oh, and as someone said above (though I wouldn’t put it in such vehement terms): when you’re trying to build up your savings, it’s far better to cut the student loan payments down to the minimum than to cut back on retirement plan contributions.

By: Pork with Bones

Pork with Bones — Fri, 10 Oct 2008 07:19:08 +0000

For the moment, the US Treasury is guaranteeing money market funds (assuming the fund chooses to participate). Press release here. I don't know if that will be any help for people invested in the one(s?) that have already broken the buck, though.

By: Lilian

Lilian — Fri, 10 Oct 2008 01:05:31 +0000

I’m so sorry! Money freaks me out entirely. I hope you can get your money safely back soon.

By: Spacemom

Spacemom — Wed, 01 Oct 2008 16:56:23 +0000

I *THINK* money market ACCOUNTS are FDIC insured while money market FUNDS are not.

Also I read yesterday that IF the account is joint, FDIC covers $250,000 not just the $100,000

Except for not having money on hand, you are doing fine. The market has ups and downs. Stay the course. If everyone pulls their money, then we have a collapse….