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Ever wondered about the difference between checking, savings, and brokerage accounts?
In this episode, David J. Nienaber, MBA, CPA, CFP®, discusses the distinctions between checking accounts, savings accounts, and brokerage accounts. He highlights benefits of each and how they function together. Additionally, he explains how brokerage accounts can be platforms for purchasing stocks, bonds, and mutual funds. Lastly, he touches on how money market funds are becoming a popular choice instead of traditional savings accounts.
David shares more about:
- Money market funds as an alternative to traditional savings accounts
- Money market funds can be bought and sold in a brokerage account and earn higher interest rates
- Brokerage accounts not FDIC insured but have SIPC insurance
- And more
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