The economic world offers plenty of opportunities, so those who are looking to make their cash grow will have some interesting options at their disposal. Whether you invest in CDs or a money market account depends upon your situation and your particular investment goals. With that being said, the CD rates that you can get right now will impact your decision in a big way. So should you choose a money market account or a solid CD in 2010? This question can have a slightly different answer for each investor out there.

CD rates versus Money Market Rates
No matter which investment company you work with, you will probably have access to both CDs and to money market accounts. Right now, a one year CD rate will be anywhere from 1.5% to 1.8%, depending upon which company you are working with. You can find out the latest CD rates available from your financial institution by either going to your company’s site or using one of the comparison sites online. This way, you will see which actual rate is available for your money.

Today’s money market accounts are a little bit lower, but they provide individuals with the chance to pull their money out at any point. This means that you will want to figure out how much access you need to the money. Some people just want to put it up and attain the certain growth that goes along with CDs. Others will need to pull their money out at some point, because of an investment opportunity or because of a personal need.

CD rates on the rise?
There is some thought out on the financial market today that CD rates are going to be going up in the near future. This means that right now they are at a low point. If you were to invest in a CD right now, you might miss out on a higher rate that comes about before your CD term is up. If you feel that you want to wait things out or you have some other investment opportunities in mind, then using the money market option can help you with flexibility. This is why it is a highly personal choice and it really comes down to what you think CD rates are going to do in the future.