Are Money Market Funds a Safe Place To Stash My Savings?

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Clark has recently espoused money market funds as a great place to hold your liquid savings. But they aren’t protected by FDIC insurance. Are they safe?

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Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich.

Jamesdave-gm

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

LiamOlivia-

Money markets allows individual investors to invest big amounts of money in a low-risk setting.

staceyconnor

Depends on the underline assets of the money market fund. The one I keep my emergency fund in is 100% 1-3 month U.S. treasury bonds. The money market fund itself is SIPC insured up to 500k$ by the US government. So, if I lose money, it means the US government has defaulted for the first time in its history. Also, the world as we know it would likely be in epic turmoil shortly afterwords do to the US defaulting, so your cash would likely be worthless shortly afterward anyway.

FINDDYouTube

The constant changing economic conditions in our society have made it necessary for people to find additional sources of income, thus I am looking at the stock market to fuel my retirement goal of $3m, my only concern is the unstable market.

lilliankerr-zc

Thanks Clark I love listening to your show and Krista is great too!

christineranieri

Recently sold off a lot of stock (Vanguard) due to the weirdness over the past few years. Swept it into VMFXX (Fed M’Mkt) and agree it is safer there, climbing/reinvesting at a consistent rate. Plan to leave it there until interest rates come back down and the economy improves.

sboy

Since money markets are a safe investment. What would be the best money market to invest in since they are all safe but so many to choose from?

Dhi-feeu

Why didn’t you say what IS a good company to use? Do a search and all you find is the companies you mention are not full commission. I cannot even find what full commission means.

thriftyninja

Question: I have 1/2 my savings in the stock market diversified and the other half in cash. I want to know what I should do with my money in the bank to gain safe interest with low to zero fees with no risk of losing money should the govt wish to come into our bank accts and steal our money or if the market crashes. Should I stay w my stock portfolio as well? I am retired and live on my retirement. I want to keep my money safe...any suggestions would be appreciated. Thank you Clark.

JAD

JudeReggie and everyone replying to JudeReggie is a shill for a financial advisor who may or may not be worth your time. But if it looks, acts and talks like a shill, perhaps it is a shill - and perhaps really good financial advisors do not require shills to promote them in comment sections of other people's financial videos?

bradlee

Thanks for the great details.
My question: What happens to money in a government money market fund at a financial house such as Fidelity, incase the US government defaults on its debt obligations?

Will SIPC insure this money?

vaibhavverma

Clark I have a certain amount of money in a management company.
I want to know should I take it out and put it in a money market at my bank . The interest rate is much better then the money market. Thank you for your timely response.

diaomaribailey

Clark, bless you!! I have a question and am not sure how to find you to ask....Is
TEMU safe and do you advise it? I have to tell you that I feel like a traitor when I order. I've ordered twice and liked the products.

pquack