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10 votes

Advice for investing money for a 15-year old

Note that if your child makes more than £100/year in interest from money you give them, then you have to pay tax on it anyway. [A previous version of my answer talked about £100/month because I got ...
GS - Apologise to Monica's user avatar
10 votes

Are high yield savings accounts as secure as money market checking accounts?

It's actually the other way around: a savings account (high yield or otherwise) is likely to be insured by the FDIC. We can't verify without knowing the exact account, but this should be prominently ...
letterX's user avatar
  • 762
3 votes

Are high yield savings accounts as secure as money market checking accounts?

Assuming US: If your account is insured by the FDIC, it's as safe as any other account.
keshlam's user avatar
  • 48.9k
2 votes

Are high yield savings accounts as secure as money market checking accounts?

Generally speaking, the safest money markets and any savings account are equally safe up to $250,000. Beyond that, the safest money markets are generally safer. Each can be safer, depending on the ...
Test's user avatar
  • 129
2 votes

Added a person to a joint account

You will have to talk to a lawyer about this. From the bank's point of view, if a signatory is added to an account then that person can withdraw from the account under the same conditions as the other ...
DJClayworth's user avatar
  • 33.8k
1 vote

Is it possible to lose money with SPDR BIL

Fixed Income ETFs are not fixed-income instruments themselves, in that they do not guarantee a specific return (interest or coupon) and can go up and down in value. You may have had a $30 drop because ...
D Stanley's user avatar
  • 138k
1 vote
Accepted

Brazilian savings account, understanding "saldos por dia base"

I suppose the bank keeps these values on days because it is always on those days that they pay me interest. Is that correct? Yes, that's correct. These base days are also known as deposit "...
sourcream's user avatar
  • 149
1 vote

To park cash and have no risk of losing principal, how can I achieve in my IRA or brokerage a counterpart of a bank-like savings account?

They're called brokerage bank/insured sweep or bank deposit programs. The brokerage takes your cash and puts it into an insured bank and takes a cut of the interest. Simple as that. Some programs are ...
user71659's user avatar
  • 3,644

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