 TITLE: What Are the Best Short-Term Investing Options? CONTENT: Money Market Account\n--------------------\nSimilar to a high-yield savings account, a money market account often pays a higher APY than a traditional savings account. A money market account also might issue a debit card and let you write checks. This kind of account might, however, impose fees and minimum deposit requirements, and limit the number of transactions allowed per month.\nThis investment option is best if you might need your money within the next one or two years.\nAs of October 2020, several financial institutions offered money market accounts with APYs of 0.60% to 0.70%, compared with the average money market APY of 0.11%.\n*   **Risk level**: Very low. The FDIC insures money market account deposits at banks up to $250,000, and the NCUA insures deposits at most credit unions up to $250,000.\n*   **Next step**: You can open a money market account at an online bank, a traditional bank, a credit union or a financial services company. Financial institutions that offer these accounts include BMO Harris, Charles Schwab, CIT, Discover, Sallie Mae and TD Ameritrade. END