- A Massachusetts tax exempt money market no load fund can be very beneficial to residents of Massachusetts
- No load money market funds are usually intended for short term investments, and offer high liquidity and security
- The best no load funds are ones which offer tax advantages
A Massachusetts tax exempt money market no load fund can be an ideal investment for many investors for several reasons, and these no load money market funds are not as complex to understand as they may sound. These funds use the pooled investment capital to invest in Massachusetts municipal debt, both within the state and in different cities located here. This leads to tax exemptions that can be double or triple what investors outside the state will see. A Massachusetts tax exempt fund has holdings which offer residents of the state tax exemptions from state and possibly even city or local income taxes, as well as the federal income tax exemption that most municipal debt investments enjoy. These tax exemptions combined with choosing no load funds that do not involve high load fees can really help your investment value grow quickly over short time periods. Massachusetts tax exempt money market funds are considered very stable and secure, because these funds hold only the highest quality of municipal debt securities which mature in ninety days or less. Money market funds are used for investment capital that will be needed in a short time but is not being used right now. These funds usually offer higher returns than other methods considered safe, like a savings account in a bank. Another advantage of these funds is that they are extremely liquid, so that when you need your investment capital for other purposes it is available very quickly and conveniently.
Investors who want to find Massachusetts tax exempt money market no load funds can do this very quickly simply by using the Internet and one of the popular fund screener tools. No load funds do not include the investment advice that load funds do, but this is not always a disadvantage either. Some load Massachusetts tax exempt money market mutual funds may pay a commission or fee to brokers who direct new investors to them. This may cause a conflict at times with some brokers and load fund advisors. Instead of getting the best investment advice possible for you and your investments goals, you may end up getting investment advice that benefits the broker but is not necessarily the best advice for your specific situation. Comparing the best no load funds on your own, without professional advice, is normally the best way to choose the right Massachusetts tax exempt fund which fits within your acceptable risk levels and investment strategies and goals.
One of the best no load funds for Massachusetts investors may be the Fidelity Massachusetts AMT Tax Free Money Market Fund, which has the ticker symbol FMSXX. Another Massachusetts tax exempt money market fund is the Western Asset Massachusetts Municipal Money Market Fund. No matter which no load Massachusetts tax exempt fund you choose, make sure to be thorough in your research and comparisons between funds. Because no load funds do not have investment advice, you will need to do all of the work yourself. This is not as difficult as it may sound, but if you are not comfortable making these investment decisions then you may want to pay for professional investment advice from a professional. You can pay for the advice at an hourly rate from a financial advisor, and get help choosing the best no load funds for your specific investing situation. No load money market funds are considered one of the safest investment options available, because these funds aim for lower returns in exchange for higher security, stability, and liquidity. There are still risks involved with these funds though, and no investment is guaranteed not to lose any money.