money market account

Steve Miller, 51, a stay-at-home dad in Orange County, Calif., recently moved his family’s savings from a large bank to a Vanguard federal money market account.

Twitter, he said, could be the site of “an extremely compelling money market account.”

Instead, you can look into a money market account, a bank or a credit union.

So maybe 12 months goes into a high yield savings account for an emergency fund and then maybe 12 of those months you go open up a money market account or an index fund, get some index funds going, and then maybe you can spend like one year or two years of that towards your down payment.

A money market account has interest rates that are better than a high-yield savings account, and this investment vehicle still allows you to access cash so you can make payments on your grad school tuition without a lot of hassle.