I am getting about $3000.00. I have enough money to suit me now, I want to save about $2000 of the $3000, What is the best way? a cd (my local bank is 4.75% min 6 months, $500 min) govement bonds?, i dont know the current percent. If there is anyother ways let me know. I want to be able to get at this money with in 4 years. may continue it though.
2006-08-17 10:07:21 · 10 answers · asked by Anonymous in Business & Finance ➔ Investing
Putting money away in a bank CD at 4.75% isn't going to get you anywhere. Realize that you pay taxes on the interest, then that, minus a few percent inflation leaves you with the same value that you had when you started. So- there's no real "up" side.
So... no risk, no reward. But, if you really want to have the money waiting for you in 4 years for you to spend, a wise place to put it.
The stock market will give you a higher potential up side, but more risk as well. If this is the first time you're investing for the future- pick a good mutual fund that you like and see how that works out for ya'. The best way to grow wealth is TIME. so put away as early in life as you can, so that it will be waiting for you when you retire.
It's better to be young and poor, than old and poor.
2006-08-17 10:18:10 · answer #1 · answered by Morey000 7 · 1⤊ 0⤋
If you want to use it for College or buying a house then put it in a ROTH IRA, if not then a CD is probably the best bet. If you need to be more "liquid" than that... a money market is your best choice.
Slainte,
-D
2006-08-17 17:17:14 · answer #2 · answered by chicagodan1974 4 · 1⤊ 0⤋
I would recommend silver bullion in 1oz graduations. don't have the silver stored at the dealers, find a secure place at home and just hold it as I have reasons as to why I think that the price of silver will take off. Good luck!
2006-08-18 14:48:55 · answer #3 · answered by mandbturner3699 5 · 0⤊ 0⤋
Penny Stocks (Stocks below $5) are good because they will yield high percentages but are pretty risky BEWARE STOCKS BELOW $0.01. You could make alot but lose alot I made 583.88 off of $90 dollars invested but note that took 3 months.. GL
2006-08-17 18:12:19 · answer #4 · answered by marinecorpsmos 2 · 1⤊ 0⤋
Money market fund is best for you I think. If you do a google or yahoo search on "money market fund best", you will get several high rate options to consider.
2006-08-17 19:19:18 · answer #5 · answered by perdidobums 5 · 1⤊ 0⤋
HSBC is offering an on-line savigns account with no minimum balance/no fees and they are listing 5.05% APY. That is the best deal I have come across so far...
2006-08-17 18:11:02 · answer #6 · answered by jake_deyo 4 · 1⤊ 0⤋
buy a pound of really good weed for $1000 and break it down into onces and sell them for $150 each. you'll make back $2,400.
2006-08-17 17:13:39 · answer #7 · answered by chicagoguy_60601 1 · 0⤊ 1⤋
read tips and articles on investing and stocks on this site
2006-08-17 17:45:40 · answer #8 · answered by Anonymous · 1⤊ 0⤋
Gold my friend
2006-08-17 17:27:56 · answer #9 · answered by Anonymous · 1⤊ 0⤋
Gold & real state.
2006-08-17 17:16:03 · answer #10 · answered by Gabrio 7 · 1⤊ 1⤋