CNN/Money has a short article up that has three places you could stash your cash where it would be safe in this crazy up and down economy. Mind you, I would not start moving your money out of investment accounts to put it in these places, but if you have cash sitting around that you are wondering what to do with and you don’t want to lose it, you might want to check these out.
Bank Money-Market Accounts & CDs
Bank CDs and money market accounts (Not money market mutual funds) are FDIC-insured up to $250,000 per person per institution ($500,000 for joint accounts).
Stable value funds invest in high-quality short- to intermediate-term bonds, which are guaranteed, as well as interest-bearing contracts from insurance companies, and are currently yielding around 4%.
Money Market Funds
The government has recently put in place a new guarantee for money funds – essentially a type of FDIC insurance – promising that investors will get $1 back for every $1 invested, with no dollar limit. Granted, it is only for 3 months, but chances are that will be extended.
What are you doing in this market? Are you leaving everything as-is? Are you moving your money around? Are you stuffing your mattress full of $1 bills?