Money Market vs. CD: Which Should I Choose?

For people who want to generate some interest income from their cash savings, two popular choices are money markets and certificates of deposit (CDs). When you buy a certificate of deposit, you are essentially lending money to a bank in exchange for interest payments.

Money market investments offer a similar stream of passive income, but they come in two types: accounts and funds. These money market products offer more flexibility, while CDs guarantee an interest rate throughout the lifetime of the CD.

Here’s an overview of how CDs compare to money markets and how to decide which is right for you.

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