I abbreviate 'the amount of reserves to be deposited' to 'principal.'
- This principal must be conserved (excepting rarities like the collapse of Canada)
- Must be able to be withdrawn no longer than a month after requesting a withdrawal.
Investing For Canadians For Dummies, 3 Ed ((2009) by Tony Martin, Eric Tyson) recommends high-rate savings accounts which appear to yield the highest interest (up to 1.75% and 1.50%), and so which transcend their other recommendation of 'money market mutual funds'.
Are high-rate savings accounts truly the option with the highest interest?