i've placed my money in a money market savings accruing about 4.25% interest but i believe i can do better. i don't want any stock tips but a real answer as to where i can place this money to gain more, faster. or am i better off leaving my money right where it is?
2006-07-18 12:24:39 · 11 answers · asked by Slick Vic 1 in Business & Finance ➔ Investing
You said "SHORT TERM" so that means that leaving it where it is, is your best option. Yes, you could opt for other investments that have more potential, but as the market has illustrated in the past few weeks, it can be, well, unpredictable. So you'd have to take on the risk of having LESS money in order to have a chance of having more money. The higher the potential gain, the bigger the chance of loss.
No ethical licensed pro is going to recommend you do anything else with short term money. You'd need 3-5 years to consider taking on more risk, and quiet frankly, short of REITS or high dividend stocks, I'm not sure where else you'd put money for that short a time frame. Interest rates are creeping up, which is bad news for bond funds (but good news for money market accounts), and the economy has way too many "ifs" to be considered prudent.
Yeah, there are some ways of getting into stocks and reducing risk, via option collars and such, as well as some deep digging research for value plays, but still, we're talking about a lot of work (which will cost you money if you aren't qualified to do it yourself and quite frankly...the kind of pros that do that kind of work don't touch small amounts like yours). Also the minute you go into any kind of stock investment, the FEES will eat at your money too.
So...maybe I gave you TMI, but it seems that money market is probably your best option at this point.
2006-07-18 12:31:52 · answer #1 · answered by Lori A 6 · 1⤊ 0⤋
First, take a trip to Las Vegas.
Second, go to the nearest Roulette table.
Third, place the entire $3000 on "red".
You'll get an immediate 100% return on your investment...or not.
2006-07-18 12:29:27 · answer #2 · answered by GeneL 7 · 0⤊ 0⤋
Private equity funds such as the Russel 3000
2006-07-18 12:27:05 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You are doing OK, I got the notice on the 4.5 % citibank internet offer the other day, there are other banks, but I have not seen 6%.
2006-07-18 12:28:43 · answer #4 · answered by Ace 1 · 0⤊ 0⤋
Look at short term CDs
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2006-07-18 23:42:40 · answer #6 · answered by Tarumi 2 · 0⤊ 0⤋
invest in drugs quickest investment
2006-07-18 12:52:21 · answer #7 · answered by ty 733 1 · 0⤊ 0⤋
Quadruple it in 5 days or less. Sell pot. lol
2006-07-18 12:26:59 · answer #8 · answered by Anonymous · 0⤊ 0⤋
you do anything that can get you a quick high return and you are more likely to lose what you have.
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u could give it to me
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