I would like to buy my newborn niece a CD or municipal bond, or whatever the best investment option is. My bank has been very unhelpful in the decision making (probably because they don't offer municipal bonds and they are not in the business to best tell me how to allocate my money) and the steps I need to take to do this.
I would like to know what my best options are for this situation and also would like to know what steps I need to take. I'm also young (24 y/o) and have not made an investment such as this before.
I'd like this to be a long term investment to which I may or may not be able to contribute incrementally. Because it's long term, research tells me I should invest in something somewhat high risk (such as municiple bonds) to maximize yield. At the same time I don't want to spend $5000 on a CD and have it only earn 300 bucks after 18 years, CDs seem to have a very low yield. You know?
Any guidance would be greatly appreciated, thanks!
2006-12-27
06:32:42
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6 answers
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asked by
Anonymous