Rob Berger - Forbes Advisor
There are more than 20 million millionaires in the United States. Because many of them capture the attention of the press or become pop culture sensations, it might seem like becoming a millionaire is impossible for everyday people.
The truth is that you donât need to develop the next tech unicorn or be a celebrity to become a millionaire. In reality, most millionaires are regular people, not all of whom bring home six- and seven-figure salaries. With a bit of common sense and discipline, you, too, can become a millionaire on an average income.
Compound Returns Can Make You a Millionaire
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December 14, 2020 3:01 AM Rob Berger - Forbes Advisor
Posted:
Updated:
December 15, 2020 6:20 AM
If you’re looking for a safe, short-term investment for your cash, money market mutual funds could be the perfect choice.
You’ve probably read about FDIC-insured money market accounts, which you can open at a bank or credit union. Money market mutual funds are a different animal. They’re market investments, not bank accounts and it’s important to understand that they are not FDIC insured.
Nevertheless, money market mutual funds more than hold their own as a safe place to earn a return on your cash for short-term investing.