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HYSA vs MMF vs MMA

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  • HYSA vs MMF vs MMA

    Hello,
    I'm an anesthesiology resident. My wife and I both have Vanguard retirement accounts. We have $200k in a savings account. I want to get a higher interest rate, with ZERO risk of losing this money. I just wanted to make sure before I do it because that is a ton of money for me. If I want zero risk of losing money, I would have to put in FDIC insured high yield savings account, correct? (Ally, Citi, etc) My understanding is Vanguard money market FUNDS are not insured, and thus there's a small chance of losing my principal. Apologize for the simple question, but you guys are the experts and I value your advice. Thank you.

  • #2
    There is a small chance of losing money in a Vanguard MMF, very small, and it has never happened before. If 100% safety is required, use an FDIC account at Ally (or Marcus or similar). I use both, MMF and bank accounts.

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