I have $10,000, is there any thing I can invest it in for 4-5 months and turn a profit?

Question

I'm putting $10K down on a house, I allready have the money but I would like to put it somewhere where it can make me a few more bucks, something with a high interest rate, a CD would work but even a 6 month CD is to long, unitl I close on the house, which is it November at the latest, my ING direct savings account is 4.25% which isn't to bad at all. Any ideas??

Answer 1

Since you'll need the money for the house, you cannot subject it to risk of loss, or your house is jeopardized.

I suggest you do a short term CD or move to an online account with higher interest.

For example, HSBC offers an online account paying 5.05% - that's a lot more than ING.

If you start a Vanguard account, you can get about 5.10% in the Vanguard Prime Money Market Fund, and your money is liquid and immediately available.

Many banks offer 3 or 5 month CDs. Check out www.bankrate.com for the highest CD yields.

Do NOT expose the principal amount to risk, like stock or bonds or other crazy schemes.

Answer 2

Stocks traditionally (over the past century) have had the highest returns of any investment instrument (bonds, money market etc..). People are reluctant to invest in stocks because they are volatile (move around a lot) but there is a way to get those stock like gains without much of the risk of holding an individual stock. Invest in an index fund, which is like a mutual fund except there is no investment manager trading in and out of it constantly charging you ridiculous commissions. An index fund is simply a copy of a group of stocks that investors use to gauge the market. For example you can buy an index fund that matches the S&P 500 (stocks of the 500 largest companies in the U.S.) etc.. Vanguard has some great funds with probably the lowest costs in the industry and has been around forever basically. I just brought VTSMX (total mkt index fund), its at 35/share and with one purchase I now have companies such as: Exxon , General Electric, Microsoft,Apple etc... For someone who can't afford to lose any investment capital this is by the far the easiest way to diversify risk without comprimsing your returns. Good luck to you!

Answer 3

Think about a money market fund that invests only on U.S. Treasury securities. These funds are safe, since they hold only the obligations of the federal government. Their interest payments are generally not taxed by state governments (which can be meaningful if you live in a high tax state). And they are liquid--you can withdraw the money any time. Vanguard has a fund like this that pays about 4.75% currently.

For more ideas about short term investing, look at the webpage listed below.

Answer 4

Something like the stock market would be too risky for short term, so the best option is either a 3 month CD or an ING account.

Answer 5

Will, you have the right Idea, keep it in the ING account. It gives you the best interest rate without the risk of losing any of it. If it is for a down payment on your home you don't want to do any stock trading ect. Keep it safe! Anything low risk that is going to provide you with a higher interest rate will need to sit longer than 4-5months.

Answer 6

I agree an ING account would be the best and safest for your investment Good Luck

Answer 7

Learn about e-bay and start buying and selling stuff.

Figure out a want
find the best deal
sell that want for profit

Answer 8

Buy long term option of Exxon Mobil.

This is the way CEO make money....

see that link .

http://finance.yahoo.com/q/op?s=XOM&k=75.000000

this is the best way to make quick money.

Answer 9

water gas gold silver
dot coms
anything green related...remember southeast and southwest are going through major droughts

Answer 10

legally or illegally.