I've got under $10,000 that I want to put somewhere more awesome than my no interest checking account.
So far American Express Personal Savings at 1.15% APY is sounding nice. I can transfer out of it and funds take less than a week to hit my checking account.
The other option that I am looking at is a Vanguard Money Market Fund. Am I reading it wrong or are all of the 1 year rates of return at Vanguard about one-tenth of American Express's Personal Savings rate? Are money market funds a place for a longer term investment (like CDs?). Is it possible to pull money easily out of a money market fund?
Or am I missing something and there is a better place to keep my cash? Ideally I want to have around $10K sitting somewhere where I can easily grab it in case of emergencies. The point of what I'm trying to accomplish is to have 3-6 months of backup money for a just-in-case moment.