You have some cash and are in between investments. Until you're ready to make a long-term investment, you need to put your money somewhere, but what's the best option? Share Certificate (similar to banks' Certificates of Deposit) and Money Market accounts are both great short-term investment products that will yield more than a regular savings account, but it's important to know which best suits your needs and priorities.
A Share Certificate is similar to a certificate of deposit (CD) issued by a credit union that pays a certain dividend if held for a specific period or term. Funds are not "liquid," as a penalty is usually assessed if any portion of the principal is withdrawn before maturity.
In general, Share Certificates are a good choice if:
Money Market Accounts
A Money Market Account is a special savings account that offers an adjustable rate and the ability to withdraw funds at any time without incurring a penalty.
Invest in a Money Market Account if:
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