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I just listened to Investing for Dummies 4th edition, which seems to be probably a decade old. He talks quite a bit about how money market mutual funds are way better for your savings than a bank and even have checking and such. Is this still the case? Should I dump my savings in such a mutual fund?
He also shills Vanguard at every turn, is that unbiased advice?
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>>1403098
Vanguard is good because for low fee index funds. Its perfect for long-term investors, not so much for traders.
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Depends on the money market fund. Honestly money market funds aren't insured like bank deposits and generally are harder to get at than a savings account. I'm Canadian so I don't know if it's different in the states.
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>>1403221
A point he made about the insurance is that money market funds basically can't completely fail and the only instance where it happened was one that was a collusion between businesses.
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A lot of the really good personal finance and investing books are very old and their age shows.
Bogle just recently made a statement about how much his books show their age. The original text assumes something like 12%+ returns on the S&P.
There are a lot of boomers that still haven't come to terms with the fact that CDs don't give 10% anymore
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>>1403340
I.e exactly what happened in 2008.
Returns on money market funds also for the most part are the same or worse than savings accounts for the most part nowadays.
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>>1403098
Mutual funds haven't been good since the 80s. You know when computers came online.
Indexes are far superior. and they still suck relative to even slightly active investment.
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>>1403098
Mutual Funds yes, money markets no.
Money Markets get you a nice 0.01% interest rate now.
t. unlicensed sales assistant at small financial group
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