WTF are Money Market Accounts?!

Money Rehab with Nicole Lapin

Money News Network

Education, Self-improvement, Business

4.6 • 1.7K Ratings

🗓️ 14 June 2021

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Can you think of a LESS specific name than “Money Market Accounts?” We’ll wait… No, right? That’s what we thought. Today, Nicole breaks down what they are, who should be using them and why; as well as the hidden costs that can come with one of these financial tools. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Hey guys, are you ready for some money rehab?
0:05.0	Wall Street has been completely upended by an unlikely player. Game stop.
0:09.0	That's a good thing.
0:10.0	And should I have a 401k because I don't do it?
0:12.0	No, I know.
0:15.0	I don't think the whole world will roll around you on your money.
0:19.0	Charge for wasting our time.
0:23.0	I will take a shot.
0:25.0	We're going to pull you through.
0:27.0	You recognize her from Anchoring on CNN, CNBC, and Bloomberg.
0:31.0	The only financial expert you don't need a dictionary to understand.
0:35.0	The cold lap been.
0:38.0	So far in money rehab, we've been talking a lot about savings.
0:41.0	We talked about savings accounts when we chatted about emergency funds.
0:45.0	And then again with money rehabber Nina when she came on for her listener intervention.
0:49.0	Money rehabber Aaron wants to get into the nitty gritty of this topic.
0:53.0	Here's his question.
0:54.0	Hey Nicole, I've heard you mentioned money market accounts a few times and I tried to look it up.
1:00.0	But I'm finding the descriptions kind of hard to follow.
1:03.0	Can you explain what it is and who should use it?
1:05.0	Apps are freaking lootly.
1:07.0	So Aaron, you think of a money market account as a type of savings account.
	...

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