Understanding and comparing the money market rates starts with the basic knowledge and understanding of the money market account (MMA). An MMA is a type of savings account which puts a cap on the number of checks that you may withdraw from your account every month. The money market rate is the compound interest that you may earn on your balance and it is referred to as the annual percentage yield (APY). Although the minimum balance and deposits that you need to maintain in an MMA are higher than in a regular savings account, the APY on an MMA is more than the rates offered on a traditional savings account.
Is an MMA suitable for you?
Not everyone prefers a money market account due to the restrictions associated with it. However, if you prefer occasional access to the account and seek a higher yield, the account is ideal for you. There are a few accounts which offer the best money market rates. However, do not make an application for opening a money market account simply based on the market rate offered. Make sure you understand the pros and cons of the account. As mentioned above, the account requires you to maintain a higher minimum balance and failure to do the same might lead to penalty fees.
Best money market accounts for 2018
Choose the best money market rates and an account which has a minimum balance requirement convenient for you to maintain. The rates on the account may vary from one bank to another. Moreover, there could be minor variations in the terms and conditions offered by the banks. Remember, the higher the APY, the better will be your earnings. This is because the interest gets compounded on a daily or a monthly basis and is usually credited to your account at the end of every quarter. Therefore, before you open a money market account, it is prudent to compare the rates and the requirement of minimum balance for the same.
As of 2018, the highest rate is offered by VirtualBank, which is 2.01% and its minimum balance requirement is $100. It is followed by the All America Bank, which has an APY of 2% and a minimum balance requirement of $500. At the same level is the Redneck Bank with an APY of 2% and a minimum balance requirement of $500. Remember that the money market rates are subject to change depending on a number of factors.
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Everything you need to know about a knee surgery
Read moreA knee surgery is too generic a name to describe any one procedure. However, it is normally meant to mean either a partial or a total knee replacement. It needs to be understood that there are other surgical interventions carried out in the knee as well.
Components of a knee
Some of the common procedures are mending fractures in the bones in the joint or removing or repairing the patella and repairing ligament tears. There are three bones in the knee joint, two of which are load bearing and another to give stability. These are the thigh bone, the Femur, the shin bone or the Tibia and the Patella or the knee cap. The fibula is a slender bone lying beside the Tibia on its outer side and affords stability. These bones are held tightly in position by a few ligament and tendons. The anterior cruciate ligament holds the Femur and Tibia together tightly in the front at the same time allowing movement. The posterior cruciate ligament does same in the rear. The two tendons, the medial collateral, and the lateral collateral lie on the inner and outer sides of the knee. The Patellar tendon, which is strictly a ligament, holds the patella close to the femur.Types of knee surgeries
- Partial Knee Replacement is one of the major surgeries that is performed on the knee. This is necessitated when any one bone is damaged because of rheumatoid arthritis or osteoarthritis. Rheumatoid arthritis is an autoimmune disease in which the body’s immune system attacks and destroys the lining of the joint, the synovial membrane. The prolonged condition leads to deterioration of the joint itself. In osteoarthritis, the cartilage that lines the articular surface of the bones with glassy low friction surface is damaged. The damage can be only on one bone, so in that case, only the damaged portion of that bone has chipped away and the joint replaced with metal or polyethylene inserts.
- Total Knee Replacement or arthroplasty is when the damage is extensive and both the bones are replaced. Under general anesthesia, the surgeon opens the joint and remove the damaged portions of both the bones Femur, the Tibia and the Patella, and replaces them with metal or polyethylene artificial joints and then the joint is fixed to the bones. Postoperative physiotherapy is essential and is quite painful.
These surgeries are not without their drawbacks. Besides the general risks of anesthesia, these surgeries can also cause embolisms, infections and in some cases persistent pain. Although a good, well-fitted joint serves well for over 20-25 years, premature failures are known to have happened.
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Should you consider buying a smart TV
Read moreSmart TVs are now no more a luxury electronic item. They have become a common thing in most households. For those who are not sure what makes a smart TV different from a normal one—a smart TV is a television with interactive Web features and an integrated Internet system.
Almost every new television buyer prefers the Smart TV when shopping for the entertainment device; thanks to its multiple functionalities. Whether you are shopping for a large electronic item like a 60-inch smart TV or a small gadget like a smartphone, it is important that you make an informed choice.
Here are a few pros and cons of buying a smart TV.
Pros
- You may do much more than just watch TV. With smart TVs, users may now use the full-fledged Web browser and perform activities from shopping online to checking emails. This makes it easier to reduce the number of screens you are using.
- The Internet access also lets you watch videos on YouTube or any other website you want. You can connect to the internet without the need of an external device being connected to your TV to establish this connection. You may even play games online. This experience gets better if you have a big smart TV like a 60-inch TV or a 70-inch TV.
- Some of the smart TVs offer entertainment options based on the users’ browsing history. This helps you access more videos, games, or blogs depending on your interest. It is a great way to explore new things you may be interested in. And, there is nothing better than enjoying your preferred entertainment options on a 60-inch TV.
Cons
- As is the case with other devices that use an Internet connection, there is a security issue when you own a smart TV. Since there are no firewalls covering your Internet connection with your smart TV, your personal and financial details may be prone to phishing.
- Smart TVs may reduce your productivity because there is a good chance that you may get addicted and never be offline.
Whether you buy a small smart TV or a big 60-inch smart TV, you should spend time researching the various models before buying any.