2007-01-18 14:26:29 · 5 answers · asked by inlovewithwoody 2 in Business & Finance ➔ Investing
Go to your local bank and invest in a certificate of deposit. Most banks the minimum deposit for these is $500. You can still make 5% with usually no fees.
2007-01-18 14:39:09 · answer #1 · answered by darrenwelsh429 2 · 0⤊ 1⤋
You can at least guard against inflation by putting it in an HSBC online savings account , it pays 5.05% with no minimum deposit and you can withdraw the money anytime you want with the provided ATM card or the online transfer option. a good interest rate without the constraints of a CD that yields a similar rate.
2007-01-18 23:17:36 · answer #2 · answered by mtucke 3 · 0⤊ 0⤋
Open a Roth IRA. The account will then be protected from taxes. Then invest in a mutual fund, either A or C shares.
2007-01-18 23:08:28 · answer #3 · answered by MR MONEY 3 · 0⤊ 0⤋
try the buying and selling of goods approach right now if you bought the wii it is 250 they go on ebay for 400 easy! it's quick there's no tax and very little risk. Now take that same concept and buy other things to trade and sell. If you have a skill or a trait use it! use the money to buy supplies then do your skill ( sewing or teaching etc... etc... and make bank!) For me i like to customize shoes and sel them on ebay it pays well and keeps me handy if you have a hook up use it. I can get ipods for 150 and sell it on ebayy for alot. Ask your friends and family if they have connections this is wat i do with extra cash
2007-01-19 00:10:25 · answer #4 · answered by bboyballer112 2 · 0⤊ 0⤋
Certificates of Deposits work good if you have 10,000 or more. I would suggest precious metals like Gold or Silver
2007-01-19 00:01:49 · answer #5 · answered by Jeremy M 2 · 0⤊ 0⤋