2006-10-20 18:15:44 · 6 answers · asked by Jean k 1 in Business & Finance ➔ Personal Finance
The safest is in a locked safe in a bank vault. The best way depends on your risk to reward. If you are lazy like me, I would suggest buying mutual funds with your longer range money. For your short term living expense savings a good money market is the best of both worlds, a savings account and a limited checking account combined.
2006-10-20 18:20:51 · answer #1 · answered by andy 7 · 0⤊ 0⤋
I face the same predicament as I am thinking of buying a house in the near future and I also have a stock broker account that I add money on the regular. The truth is, stocks bonds and mutual funds all have great risks. If you CANNOT, DONT WANT TO, CANT TOLERATE loosing your money you better not get into any of those. For the amount of money you will get for AAA bonds the risk is not worth the reward. Open a high yield money market savings account at everbank. Right now they offer 1.25% fixed rate for six months, FDIC insured and zero risk meaning your capital will be safe and sound. Be warned, this account requires minimum 5000 to avoid the monthly fee. If this money is your 6 months emergency savings or the down payment of your house, both of which I do not touch, leave it alone, just add to it and forget about inflation and what not because that money has a goal. Depending on how much money you have and how far your goal is, you could take for example 10 k of that money and buy ETFS and maybe an aggressive mutual fund. When you see how that money goes up and down you will see the picture. Put your greed on a leash!
2016-05-22 07:00:20 · answer #2 · answered by ? 4 · 0⤊ 0⤋
There is an art to choosing ways to invest your savings. Good investments will make money; bad investments will cost money. Do your homework.
http://www.dallasfed.org/ca/wealth/3.html
2006-10-20 20:58:54 · answer #3 · answered by JFAD 5 · 0⤊ 0⤋
Learn about investing first.
Check out http://investing.hammocksurvivalguide.com/
It's packed with articles containing tips and useful information.
Always know about investing before you even think about parting with your money.
2006-10-23 11:13:47 · answer #4 · answered by Brian W 2 · 0⤊ 0⤋
I've had good luck with CDs because you can lock yourself out of them. If it's available, I'll spend it.
2006-10-20 18:23:45 · answer #5 · answered by B. 2 · 0⤊ 0⤋
that would be a roth i.r.a do a search onit you will see that im right
2006-10-20 18:25:21 · answer #6 · answered by JM 1 · 0⤊ 0⤋