Know of any Money Market accounts that let you open with $4,000-$5,000?

[vi edit]

I was looking at couple different funds that require a $10,000 balance to open and you had to maintain that balance.

Does anyone know of any MM accounts that let you open an accound with around $4,000 to $5,000 and keep a minimum balance of around that?

 

[loogie]

i dunno. Why not just stick it in a cd?

 

[vi edit]

Better interest, more liquidible.

 

[Soybomb]

Sorry vi, I know of none

loogie: cd's have very poor interest rates in comparison to a well managed money market account

 

[DonaldDuck82]

e*trade has several with pretty good rates

 

[kranky]

There are hundreds of MM funds that don't require a $10K minimum. If you're choosing by looking at a list of highest-yielding MM funds, there's a reason the top funds have high minimums - it reduces their costs, and then can afford to pay a little more interest.

Check here for some funds in your range.

 

[vi edit]

Thanks Kranky, I knew they were out there, I was just having troubles finding sites that had them.

 

[Orbius]

Stick it in a good online broker, they keep the money in a moneymarket account. I get about 6%, which isn't bad for a completely liquid account.

 

[Russ]

Safeco Mutual Funds. $2500 opening, $2500 minimum, subsequent investment minimum, $100. http://www.safecofunds.com.

Russ, NCNE

 

[woodie1]

Try Vanguard. 1-800-662-6273

 

[Hamburgerpimp]

Yeah, if you go with an online broker, just don't buy any stocks with it for quite a while. Listen to Russ, he knows more than just computers.