Is now a good time to open an e-money market account?

blipblip1234: Is now a good time to open an e-money market account?
I’m looking to start a savings account and the online versions of the MMA seem to have the best APY. I plan on making consistent deposits weekly or monthly and don’t plan on withdrawing any except in the event of catastrophe. Is this option the best out there?

Answers and Views:

Answer by jojo27315
www.ingdirect.com also has a good savings account. It’s paying a 4.5% APY. There’s no fees and you can link to your regular checking account and set up an automatic monthly deposit to your savings. Your deposit is guaranteed not to lose value.

If you’re willing to take risk, try investing in some mutual funds. You might want to try www.scottrade.com or www.tdameritrade.com. You can lose part of your initial investment but the returns can be greater than 4.5% APY. It’s also more difficult because you have to read up on current market trends and research the mutual funds you’re investing it. Mutual funds offer greater returns but also equal more work and risk.