i have some money in the bank and i want to put it into something else rather than just a bank account. Maybe a GIC. anything else i can do with it that will give me more intrest.
im willing to keep it in the bank for about 2 years.
i'm 15 years
2007-09-04 12:33:50 · 3 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Put it in a brokerage account, and invest it in an index fund.... it'll earn about 15%....
2007-09-08 09:36:48 · answer #1 · answered by I Can Count To Potato 7 · 0⤊ 0⤋
Are you saying you are 15 years old? Maybe you want to save this for college? If so, put the money is a 529 college savings plan; the interest is tax deferred while growing and tax free if used for "qualified education expenses" which is a broad category.
Also, money in a 529 plan no longer counts against you when applying for grants and loans!
Good Luck!
2007-09-04 15:17:05 · answer #2 · answered by Darn Dave 2 · 0⤊ 0⤋
Not sure what a GIC is but there are several types of bank accounts with varying interest rates .
What is your current rate ? and what rate are you looking for ?
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2007-09-04 12:53:49 · answer #3 · answered by kate 7 · 0⤊ 0⤋