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Old 01-10-2008, 03:01 AM
Cal Learner-- MVP
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Default Re: Money Market Accounts

In microsoft.public.money, dkopel22[at]hotmail.com wrote:

- quote -

> Can anyone tell me how to create a money market account for an ira? I
> tried to create one by setting up an investment account, but i'm
> having trouble balancing the account between the cash transactions and
> investment. I've read a few postings (they were complicated for me)
> and know there is an issue but i couldnt find anything with a
> soloution.


A Money Market with a broker is an investment rather than an
account. A Money Market with a bank is typically a type of checking
account. If this is the broker and you are entering Buys for
investments such as mutual funds, then do Buys and Sells of an
investment called XYZ Mutual Fund.


Basic Money Glossary:

Account

A collective place to place transactions, investments, cash, and
debt. An investment account would normally hold stocks, bonds,
and/or mutual funds. There are also bank, credit, and asset
accounts. Money Help item "account" gives a description.

Category

The Money help item "category" says "A way to sort your income and
expenses into meaningful groups so you can see income and spending
patterns in Money reports." That seems like a good description.


Favorite Account

An attribute of an account to give it easier access. See help item
"favorite".


Financial Institution (FI)

A company such as a bank, credit card company, loan company, credit
union, which takes funds from the public and deals with
financial assets.


Investment

A security such as stock, bond, or mutual fund. See Help item
"investment". Investment Buys and Sells are entered into an
investment (type) account, but an account is not an investment.
Normally when your broker assigns different account numbers, each
account number would correspond to an account. Each account can
contain many different types of investments.


Money File

The file that normally has the extension .mny. It contains the
data for money as well as most of the settings. It can be moved,
deleted, or copied by normal operating system means. See Help item
"file".

The Money file can be backed up to a Money backup file with a .mbf
extension. Give careful thought to your backup policy.


Watch Account

An account that is not real, but is for the purpose of watching
securities that you may not actually own. See help item "watch".

Money Market Fund

An investment held in an investment account that is a special kind
of mutual fund: the share price is fixed at $1 usually, and Money
does not put the sell transactions into the schedule D (capital
gains) information. Called "money market" in Money. Sometimes
referred to as MM or MMF.

Bank Money Market

A checking account from a bank that usually has some extra
restrictions and higher interest.

  #-1  
Old 01-10-2008, 01:20 AM
dkopel22@hotmail.com
Guest
 
Posts: n/a
Default Money Market Accounts

Can anyone tell me how to create a money market account for an ira? I
tried to create one by setting up an investment account, but i'm
having trouble balancing the account between the cash transactions and
investment. I've read a few postings (they were complicated for me)
and know there is an issue but i couldnt find anything with a
soloution.
 

Tags
accounts, market, money
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