Paypal money market fund

[techlover828]

Does anyone use this? Am I misreading this or does it say there's a 2.3% yield in 7 days! I must be misinterpreting.

here's a screenshot of the details:

 

[TataTata07]

Read the Bold Print and this a Money Market Fund not Account so it is not insured by the FDIC and if you lose money you can't claim it back.

This is like a Hedge Fund where they play with your money on the Stock Market and see if they make any money back and if they do, they give you some of the money.

 

[sushi]

Does anyone use this?

I don't.

Am I misreading this or does it say there's a 2.3% yield in 7 days! I must be misinterpreting.

You are misreading this.

The 2.3% is a projected annual return, based upon the last 7 days performance.

This is like a Hedge Fund where they play with your money on the Stock Market and see if they make any money back and if they do, they give you some of the money.

You are incorrect on this.

A money market fund does not invest in the stock market. It invests in financial instruments.

 

[techlover828]

Read the Bold Print and this a Money Market Fund not Account so it is not insured by the FDIC and if you lose money you can't claim it back.

This is like a Hedge Fund where they play with your money on the Stock Market and see if they make any money back and if they do, they give you some of the money.

ya I know, its essentially a mutual fund right?

 

[techlover828]

You are misreading this.

The 2.3% is a projected annual return, based upon the last 7 days performance.

ah, ok, thanks, that clears it up then, ok, thread can be closed.

 

[davidwarren]

I don't.


You are misreading this.

The 2.3% is a projected annual return, based upon the last 7 days performance.

yup.

 

[sushi]

ya I know, its essentially a mutual fund right?

A mutual fund and a money market fund are not the same.

A mutual fund generally invests in stocks.

A money market fun invests in financial instruments and not stocks.

 

[alphaod]

Whatever it is, you can still lose money so put your money in
CD and forget about it.

 

[sushi]

Whatever it is, you can still lose money so put your money in CD and forget about it.

Best to learn about the wide variety of ways to invest your money.

Here is some info on money markets.

WikiPedia Money Market Link.

They are very low risk, AFAIK, never have a negative return.

Nothing wrong with CDs.

There's also bonds, T-Bills, etc.

And of course regular savings accounts. Mine is getting round 3.5% right now. Love it.

As far a mutual funds go, many recommend an S&P 500 Index Fund.

Anyhow, best to be diversified in your investments.