Articles & News About Money & Coin Collecting

Treasury Only Money Funds

Jupiter, Fla. (PRWEB) June 18, 2008 -- Martin D. Weiss, Ph. D. takes a closer look at Treasury only money funds. Dr. Weiss explains several advantages to using a Treasury only money fund.

No matter what may be happening outside of the U.S., the uncertain environment within the U.S. mandates a healthy allocation to cash. But don't blindly assume that cash must be stored in a bank. U.S. banks pay far below market rates on personal checking accounts. On business checking accounts, banks pay no interest whatsoever. Instead, Dr. Weiss recommends using primarily a Treasury-only money fund. A Treasury-only money fund invests money in short-term U.S. Treasury securities plus other securities that are 100% backed by U.S. Treasuries. The fund uses a bank, but strictly as a custodian for the securities, and those accounts are completely segregated from the bank's deposits or assets. The Treasury-only money fund also provides check-writing privileges, so it can be used as a personal or business checking account.

There are many advantages to using a Treasury only money fund. First, Treasury only money funds have generally yielded substantially more than the yield offered on the average personal checking account in the U.S. The yield differences fluctuate and may be different from time to time. However, assume there's an average balance of $5,000 and assume that the average yield is boosted from 2% to 4%. The interest income, when compounded, could actually be more than two times greater.

Most banks overcharge for checking, low balances, wire transfers, bounced checks and a series of other services. But when a bank quotes yields, it always quotes the yields before deducting all its service fees. With bank charges and fees currently at their highest level in modern history, it's almost impossible for most bank customers to collect anything near the advertised yield.

At banks, most customers divide their money between a checking account, where they give up most of their yield, and a savings account or CD, where they give up immediate access and liquidity. It's almost impossible to get both optimal liquidity and solid yield in the same bank account. Treasury-only money funds allow a person to keep nearly all their cash assets in one single account.

Another advantage would be that there is no limit to your account size with a Treasury-only money fund, another reason for keeping nearly all your cash in one single, easy-to-manage account.

The income earned on both Treasury only money funds and bank accounts is subject to federal income taxes, so there's no difference between bank deposits and Treasury-only money funds in that regard. However, when it comes to local and state income taxes, there is a significant difference: The dividends earned on Treasury-only money funds are generally exempt from local and state income taxes, while the income earned on bank accounts and CDs is not exempt.

Another plus to Treasury only money funds is that most of them do not charge any extra fees for check-writing privileges.

"The final advantage to Treasury only money funds is that the money goes to work for you right away, generating interest income immediately. And if you deposit your money via wire transfer, you can avoid the holding period; your funds will be available immediately," Dr. Weiss states.

To read this issue online, please visit:

http://www.moneyandmarkets.com/Issues.aspx?Triple-Crisis-Your-First-Defense-1887

About MARTIN D. WEISS & MONEY AND MARKETS     

Martin D. Weiss, Ph.D., founder and president of Weiss Research, Inc. and a leading advocate for investor safety, is a nationally recognized expert on domestic and international financial markets. With more than 35 years of experience, including many years in Latin America and Asia, Dr. Weiss has helped empower millions of investors to make better financial decisions through his monthly Safe Money Report and daily Money and Markets.

Dr. Weiss' keen understanding of foreign markets and the global economy has earned him a reputation for thoughtful, in-depth analysis that investors can rely upon to make informed financial decisions. Regularly called upon by the media for his independent investing guidance, he has been featured in publications nationwide, including The Wall Street Journal, The New York Times, Chicago Tribune, Investor's Business Daily, and Forbes and has also appeared on CNN and CNBC.

Throughout his career, Dr. Weiss has been an advocate for consumers and investors in the insurance, banking and brokerage industries, dedicating his time and resources providing analysis and data for Congressional testimony, constructive proposals for reforms in the securities industry and legislation for full financial disclosure as well sound accounting and fiscal policy. In November 2004, he launched the Sound Dollar Committee, a nonprofit organization dedicated to building a network of investors seeking to protect the nation's future by demanding honesty in government accounting, a balanced budget and sound economic policy.

Dr. Weiss is author of The New York Times best-seller, The Ultimate Safe Money Guide, which gave baby boomers a road map to grow their wealth safely. It was listed on the New York Times Business, Wall Street Journal, and BusinessWeek best-seller lists, as well as the Barron's Roundup for 2002.

Dr. Weiss holds a bachelor's degree from New York University, a Ph.D. from Columbia University and is fluent in eight European and Asian languages.

Money and Markets (www.moneyandmarkets.com) is a free daily investment newsletter from Dr. Martin Weiss and Weiss Research analysts offering the latest investing news and financial insights for the stock market, including tips and advice on investing in gold, energy and oil. Weiss Research, Inc. is located in Jupiter, Florida. For more information about our editors, or to set up an interview, please contact Jennifer Moran at 561-627-3300 or visit www.moneyandmarkets.com.

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