Things You'll Need:
- an internet connection, and initial investment.
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Step 1
In this article, you're going to learn how to easily invest in one of the best money market funds out there, with one of the best companies. Money market funds are the least risky, and most stable investments you can make. They don't yield the most, but one thing you can rest assured of ,is they never lose any money, which is half the battle. And as long as you're making money, even if it's just a little bit and never losing any, that's a very good thing.
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Step 2
First, you'll want to go to Google and search for "high interest rate money market funds." It will then bring up the companies that offer the highest paying dividend money market funds. However, I personally recommend using Fidelity at fidelity.com. They are a very good company, and they make investing very easy. They also allow you to set it up so you can electronically transfer money to and from your money market fund to your bank account. It's a breeze. If you have the initial $2,500 to open a money market fund with Fidelity, I highly recommend using them. Then select their "Fidelity Select" money market fund, as it yields the highest rate.
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Step 3
After, you've setup your money market fund, I would recommend that you have the company automatically withdraw at least a $100 each month and deposit it into your money market fund, so that it will keep growing. Fidelity offers this service, and it works wonderfully. You can also electronically withdraw from it at anytime without any tax penalties. Also depending on what the U.S. dollar is worth at the time, you could earn as much as %5 on your money. Right now, in this bad economy, it wouldn't be that high, but everything changes and when it does, you'll definitely want to be in a good position to take advantage of it.
