Q: With the investments markets being so topsy-turvy, is there any simple, low-stress place to keep my money?

A: Yes! Check out a money market account.

It’s a type of bank account that:

• Pays higher interest – many are offering around 4–5% annual interest right now
• Is FDIC-insured, so your money stays protected
• Keeps your cash easily accessible – no withdrawal penalties like with CDs
• Is offered by most banks and credit unions

Great for short-term savings or when you want to pause investing without sitting on the sidelines.

Just don’t confuse it with a money market fund – those are investments and aren’t insured.

Any questions? I’d be happy to help.

I’m Vincent Hicks, CPA, based in Somerville with over 20 years of experience. Reach out at vhicksconnect@gmail.com or (859) 553-0788.

Disclaimer: This column provides general financial information and should not be considered legal, investment, or tax advice. Individual situations vary. Always consult a qualified professional for personalized guidance.