Getting Personal
A money market mutual fund clarification
A clarification: There has been some confusion about an answer I gave last week about money market mutual funds. The Treasury stabilization fund only backs money that was in a money market mutual fund as of September 19. Plus, the money market fund has to decide to participate in the Treasury program. If you transfer money from a money market mutual fund that isn't participating in the program into one that is you won't get the Treasury backing since the funds had to be deposited before September 19.
However, I do think that the odds of a run on a money market mutual fund that is part of the program dramatically shrinks. There is an extra layer of safety even for money deposited after September 19.
10/09/08 by Chris FarrellSearch
Looking for guidance on your personal finances? I'm taking your questions and answering one here each day. Just click on the "Ask a question" link to tell me what's on your mind.
Chris Farrell Marketplace Money personal finance guru
Categories
- Banking
- Books
- Budgeting
- Charitable giving
- Credit cards
- Credit report, credit score
- Debt
- Dollar exchange rate
- Economy
- Estate planning
- Financial planner
- Housing
- Insurance
- Investing
- Kids and money
- Mutual funds
- Other
- Paying for college
- Retirement
- Retirement savings
- 401k
- Bonds
- IRAs
- Money markets
- Mutual funds
- Savings
- Scams
- Social Security
- Taxes
- Vacation
- Work
- cars
- graduate school
Hot Topic
Latest Posts
Archives
| S | M | T | W | T | F | S |
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | |
| 7 | 8 | 9 | 10 | 11 | 12 | 13 |
| 14 | 15 | 16 | 17 | 18 | 19 | 20 |
| 21 | 22 | 23 | 24 | 25 | 26 | 27 |
| 28 | 29 | 30 |
sponsor
Latest Comments
- Stick with adjustable rate mortgage? (1)
- steve wrote: That $250 fee seems too good to be true. I don't buy that is the only fee. Are you sure you aren't... [read]
- After-tax retirement savings (2)
- Mike wrote: I'm confused about the last paragraph -- isn't a Roth-401(k) preferable to a Roth IRA because you ca... [read]
- Chris Farrell wrote: I should have been clearer. I wasn't dealing with the Roth 401(k). If your employer offers you the c... [read]
- Assume a mortgage (1)
- Dale Mead wrote: This answer is too superficial to really inform us readers. Please, Chris, dig a little deeper and a... [read]
- Make minimum credit card payments (1)
- Leon wrote: Congrats Chris. What good news - its inspiring! Please let us know how that works out. Can I assume ... [read]
- Small business credit card (1)
- Medicare Supplement wrote: I was overwhelmed with the process of moving into a new office, implementing a new phone system, imp... [read]
sponsor
