I currently have the money ($10,000) in a 5.20% money market account, need to money to be available whenever I need it so CD accounts are out. I have looked into Index funds but the returns seem crappy for the amount of risk involved. Anyone have any suggestions
2007-02-12 10:50:59 · 5 answers · asked by ? 2 in Business & Finance ➔ Personal Finance
You can invest in investment grade corporate bonds. They have a risk of default though. But given the current economic climate most should be safe. But stick with U.S companies with atleast 1 billion dollars in assets. You should get around 6.25 - 8 percent and they have a good secondary market.
2007-02-12 11:03:05 · answer #1 · answered by Acroblast 1 · 0⤊ 0⤋
Try www.demandnotes.com It is a subsidiary of GMAC and is currently paying 6% on a Money Market account that is accessible by simply writing a check, with a $250 minimum withdrawal.
Unfortunately, it is not a bank, therefore your funds are not guaranteed by the U.S. Government. To get higher yields, you must take some risk.
2007-02-12 19:36:16 · answer #2 · answered by Tater 2 · 0⤊ 0⤋
5.20% is excellent on a money market account. If you need to retain access to the funds I would keep with what you have. Anything with a higher interest rate is going to be very risky, or tie your money up.
2007-02-12 20:44:36 · answer #3 · answered by cala 3 · 0⤊ 0⤋
I know a company currently offering 3.2416% monthly without risk.
Top 4 Answerer.
2007-02-12 19:49:16 · answer #4 · answered by Anonymous · 0⤊ 2⤋
harvest energy trust
2007-02-12 18:59:52 · answer #5 · answered by ragnar1002000 2 · 0⤊ 0⤋