The lingering effects of World War I (1914-1918) caused economic problems in many countries, as Europe struggled to pay war debts and reparations. These problems contributed to the crisis that began the Great Depression.

Among the other causes of the stock market crash of 1929 were low wages, the proliferation of debt, a struggling agricultural sector and an excess of large bank loans that could not be liquidated.

The veteran’s saving vaporized when the stock market crashed, because banks bought the stocks and the stocks’ price fell to nearly nothing. Later, some of those vet went to District of Colombia to ask the gov. to pay their pension early.

A money market account isn’t a money market fund, an investment that could lose value if the market falls. Money market accounts are backed by the FDIC or NCUA, up to $250,000 per depositor. A money market account isn’t a checking account. Some money market accounts have check-writing and debit card features.

The good news is that you usually can close bank money market accounts and withdraw your money from brokerage funds without any penalty. In fact, because some money market accounts have minimum-balance requirements and penalties, it sometimes can be better to close them than leave a limited balance in them.

Money market accounts are better than CDs if you’re looking for a more accessible account. MMA rates are typically higher than basic savings accounts and short-term CD rates. CDs can have higher rates than a money market account, but those are often the long-term accounts from two years and upward.

CD rates are typically higher than money market account rates. Both CDs and MMAs are federally insured savings accounts, so they’re equally safe. Up to $250,000 gets insured in your name across your individually owned accounts at one bank or credit union.