Is it better to open a savings account with ING direct, get a CD, or a money market account, or even some other idea?
2007-01-23 03:11:45 · 8 answers · asked by lowkey616 3 in Business & Finance ➔ Investing
Of the 3 options you gave, they all have similar risk..So analyze the rate of return, and read the rules and costs for each of them.
if you don't need access to your money, take the one that pays the most, but remember a CD has it's rate for it's duration,
ING acct and money market accts, go up and down depending on interest rate of the day
2007-01-23 04:15:51 · answer #1 · answered by bob shark 7 · 0⤊ 0⤋
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2007-01-23 15:15:25 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It has to really depend on your risk appetite and risk tolerance. Saving account and CD or even money market has low risk and has high liquidity. If you can have a long investment horizon, you can invest on something else with high risk and high returns. If for short term, then money market is okay for you. T-bills or government bonds
2007-01-23 12:53:07 · answer #3 · answered by Dang 3 · 0⤊ 0⤋
You can open a savings account at Ing or HSBC online
if you are employed and they have a company sponsored 401K the get involved with it. That is the best way.
2007-01-23 12:59:24 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Check out the website below. Prosper allows individuals to lend money to other people and cut out the banks. Bidding small amounts on several loans spreds out the risk. Everybody wins.
2007-01-24 01:09:20 · answer #5 · answered by RichDaddy 2 · 0⤊ 0⤋
Purchasing power of the money will fall after taxes & inflation in all of those. Only critical reserve money for emergencies goes there. It grows in Reit Funds like DVM or direct Reits like SNH. Goal is to get up to straight equities when you can like adx,peo,efa,iau, etc.
2007-01-23 12:59:08 · answer #6 · answered by vegas_iwish 5 · 0⤊ 0⤋
Put in shares. I would recommend you to check the website below to learn more on shares and Stock trading and also how to select best shares.
Hope it helps
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2007-01-23 20:24:32 · answer #7 · answered by Anonymous · 0⤊ 0⤋
ETFs.
2007-01-23 18:18:46 · answer #8 · answered by Anonymous · 0⤊ 1⤋