Investing...
I was just wondering if any of you all had any short-term investments tips you'd like to share. I am making 5% on my money in my savings.... but should I be making more elsewhere? Lets say I have 30k I don't need for a year... but might need after that. Possibly something I could add 40k to over the next year... Any ideas?
posted by Doc Payne at 2:45 PM
3 Comments:
Well, if you really need something to do with it, loan it to me... (But I can't get anywhere near %5. I could name a room of the house after you, though.)
5% is a very good yield for savings. (I'm assuming you mean a savings account, and not "savings" being stocks...)
The 12 month CD rate at our place is 5.4%, 24 months is 5.5%
My bank has 5.5% for a 6 month CD. Did you consider mutual funds? I've had them from time to time and you can make considerable more money - there is some risk too though.
For example, ING has funds that have made intrest from 7.62% - 33.6% over the last 5 years. Most of Putnam's mutual funds range in the 7-8% range for the last 5 years.
Are you freaking kidding me? 30K? Did I mention that our furnace gave up the ghost night before last? All I can say is, Good for you! Just be smart with it. Maybe do the complete opposite of what Dad and I have done and you will be OK.
Post a Comment
<< Home