Posted January 05, 2019 08:01:24While the money markets are closing, you could be shopping for an easy way to get in on the action.
The Reserve Bank of Australia is advising you to stay out of cash markets, but you could still do something a little more extravagant if you want to add a bit of flair to your portfolio.
A $10,000 portfolio could be worth $1.2 million over a three-year period, or $1 million over four years.
The idea is to find something you could spend a lot of money on but still have enough left over for a rainy day.
The best part about the move is you won’t have to spend it all on one item, as you will be able to keep the rest of your portfolio on your own.
You can see the list of the best money market funds on the RMIT University of Technology website, which is also the home of the RMITS Money Market Index.