I was looking at money market accounts after reading this personal finance book I’m reading promoting them for short term savings. 🏦

With current low interest rates there really is no real difference – the FDIC insured online only savings account I have is 0.15% below that of most of the money market accounts out there and I’d have to deal with another bank. Online only savings accounts aren’t far behind money market accounts – it’s not like the 1970s. My grandmother thought money market accounts were the best thing back in the day, maybe they were compared to CDs at the her local bank.

That said, I do seriously need to think about buying more bonds as I’m getting older and with recent market growth too heavily in the stock market. I’ve been watching the stock side of things creep up disproportionately as stocks grow so much faster over the past few years compared to everything else – despite my efforts to try to keep things balanced. I have too much on both extremes and not nearly enough in the happy middle known as bonds.

With the market probably heading straight for the crapper, now isn’t probably the best time to buy bonds but I’m not planning to sell stocks but going forward I’m leaning towards getting more bond funds during routine buys and maybe moving some money out savings towards individual bonds. I can’t imagine that a CD or savings account with such low interest rates would out preform bonds over the medium term and I have in excess of what I need for a rainy day in savings.

Life was so much easier when I started out and interest rates were around 5%. But alas the fed is holding down rates to stimulate the economy.

At the end of the day I don’t think much about money, but I do think about the mud and manure of farm life, homesteading, having my own land, more guns and toys and the off grid property. I don’t want to have to work my job downtown and live in my crappy, rundown little apartment in the city forever.