I have about $4,000 that I want to put away towards savings on a house. What kind of account should I put it in? Of coarse I want to add to it. I won't even consider looking for a house for another 6 months because i have to wait a year after my bankruptcy. I have access to a VA loan.
2007-11-26 07:55:58 · 7 answers · asked by mamba 1 in Business & Finance ➔ Personal Finance
So a money market would be best? I was looking at which account would have a bigger payout, either CD or Money market
2007-11-26 08:03:57 · update #1
roth ira if you quailify, or money market. Savings won't give you a big return and neither will a CD
2007-11-26 08:12:02 · answer #1 · answered by unhappyinin 4 · 0⤊ 0⤋
Compare the rates at your local bank/credit union on money market accounts and 6 month CD's. Money market accounts are liquid while CD will make you pay a penalty if you withdraw before maturity.
2007-11-26 16:57:19 · answer #2 · answered by William H 5 · 0⤊ 0⤋
You could try any number of different money market accounts. Most of the online banks are paying between 4-5% and if you have access to your local credit union then I would check in with them as they're usually pretty comparable.
2007-11-26 15:59:21 · answer #3 · answered by Adam D 2 · 0⤊ 0⤋
Very aggressive play - Chinese and foreign stocks
Aggressive play - stocks and bond account
Medium play - a emerging market fund
Safe play - a blue-chip mutual fund
Safest play - hsbc.com - 5% annual yield
2007-11-26 16:01:02 · answer #4 · answered by Dippin Dots of East Lansing 2 · 0⤊ 1⤋
i would put in an account that will grow quickly. Try a cd or try investing it.
2007-11-26 15:58:22 · answer #5 · answered by loving life!!!!! 6 · 0⤊ 0⤋
savings account
2007-11-26 15:58:03 · answer #6 · answered by psychopiet 6 · 0⤊ 0⤋
savings account so it can collect interest
2007-11-26 15:58:56 · answer #7 · answered by ? 6 · 0⤊ 0⤋