1. Using a search engine such asGoogleorYahoo!, explore options available for monetary asset management services. Select at least two accounts from a depository institution, and at least one product/account from a mutual fund company, a stock brokerage firm, a financial services company, and an insurance company (a total of six products). Explain your selections.
2. Incorporate at least four of the monetary asset management products/accounts identified in the first requirement into your financial plan for this project. You should select a checking account, a savings account, and two other products/accounts. Be sure to explain the following for all four of the products/accounts selected:
3. Describe the purpose of the product/ account and how it will benefit your financial plan.
4. Describe the point in time that you plan on implementing the product/account (e.g. one year, five years, etc.).
5. Describe how often you will use the product/account.
6. A checking and savings account are both critical to your financial plan. The knowledge of fees associated with these types of accounts is very important in helping you retain as much of your funds as possible.
7. Review the latestBankrateSurvey of Checking Account Feesand the article entitledThe Hidden Costs of Savings Accounts.Next, review the fees and penalties for the banks where you selected your checking and savings accounts in the first requirement. Describe the typical costs and penalties related to checking and savings accounts and indicate how you plan to avoid or reduce these fees to be non-existent or as low as possible.