Thread regarding Ford layoffs

Ford Money Market Account - Anyone still using it?

I have used the FMM for many years for the majority of my cash savings - great interest rate but not FDIC insured.

I moved 80% of my balance out of there when the virus hit to a local FDIC savings account.

Is anyone else concerned with FMM given current outlook??

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| 7799 views | | 14 replies (last )
Post ID: @OP+14PIA0gu

14 replies (most recent on top)

I had it back in the late 90's early 2000's. They used to pay good rates, now about the same as everyone else.

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Post ID: @4mzwz+14PIA0gu

Oh heck no.
Moved most to “stable” value funds like Vanguard GNMA fund. And laddered 2 years of cash into CDs.
If the US government bonds look to become unstable I will sell the funds and hold cash.

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Post ID: @3Hxsp+14PIA0gu

I moved 70% out initially but i plan to move it back to Ford and just watch the economic outlook. I think it is fine for now.

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Post ID: @3Hxhj+14PIA0gu

Attractive rates but like previously mentioned, the fund invests in unsecured debt and it is not insured by FDIC. I've been putting money in Ally Bank (on-line) for the last few years. Currently they pay 1.5% and are FDIC insured. It all comes down to the level of acceptable risk that you are comfortable with.

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Post ID: @2zqt+14PIA0gu

It is called Ford Interest Advantage FIA. I moved my money out. dangerous water ahead

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Post ID: @2zey+14PIA0gu

I have used FMMA Money Market Interest Advantage for > 30 years until 6 months ago. My Financial Advisor said get out NOW and move into FDIC accounts. FMMA used to pay good interest, but not any more, and the RISK much greater now. I moved a huge chunk of cash out of FMMA into a FDIC online bank paying nearly the same interest. FMMA didn't even ask why, and I sleep better. Just for reference, Ford Interest Advantage 1.65% (no FDIC), Ally Bank 1.5% FDIC). LOL.

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Post ID: @1fla+14PIA0gu

5-6-20
FORD STOCK PRICE: DOWN...10 CENTS... TO $4.87
TESLA: UP $13.47 TO... $782.58
GM: UP $0.63 TO... $21.89

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Post ID: @mhk+14PIA0gu

Absolutely moved most of my money out of it. Continuing to move more the longer this goes on. Will keep the minimum. Did the same thing in 2008-2009.

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Post ID: @thu+14PIA0gu

Okay...
i'll bite:

just before things hit the fan... interest rates were around 1.8% - 2.0% for Online Savings accounts.

How much was the Ford Money Market yielding?

:]

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Post ID: @fmf+14PIA0gu

Ya'll making too much GRAVY havin these money market accounts and all.

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Post ID: @aiv+14PIA0gu

Any recommendations for a decent fdic alternative?

Thanks!

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Post ID: @wke+14PIA0gu

I moved 96% of my Ford Interest Advantage funds in mid March to a FDIC insured account. The Ford interest is better because of the higher risk but safe cash in this environment is more important.

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Post ID: @ohz+14PIA0gu

Yes, I did the same just leaving 1k with them until we get a clearer picture of what is going on.

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Post ID: @clm+14PIA0gu

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