Friend has $2500 they want to "invest" for 5 months.

[Freejack2]

I'm thinking there is probably nothing better than a savings account, but I do have to admit an 0.35% interest rate is pretty pathetic. Is there anything they can do with the money that will get them a better interest rate without putting the money at serious risk?
Thanks.

 

[ElFenix]

buy/sell drugs

 

Drugs are definatly a good investment.

 

[conjur]

Slots, Black Jack or the track

 

[Freejack2]

Unless you are talking pharmaceutical company stock I somehow rather doubt they'll go for it.

 

Tell them its a "special interest" group.

 

[PunDogg]

you could trip some high risk high yield stocks. Other than that, there isn't much stuff that is anygood for just 5 months.

Dogg

 

[kranky]

There is no "investing" for 5 months. Only gambling.

 

[tennisflip]

ING Direct Orange has a 2.0% rate.

 

[mchammer187]

there are some online banks that will give something like $150 if you keep like 2K in there for 6 months maybe it is more but that is all i can think of

that is pretty good IMO i dont know of any current offers tho

 

[JoeKing]

invest in me. My IOUs are like real money

 

[DJFuji]

investing for 5 months is like training for the olympics for 2 weeks.

 

[sandorski]

GIC(Gauranteed Investment Certificate-- a short term savings bond, sorta), might be called something else in the US, but they generally give the best and safest way to Invest short-term. Should be available at your bank.

 

[TGregg]

LOL. You don't "invest" $2500 for five months. They'd expect what, 5% return (12% annual) AKA $125? LOL. ROFLMAO. Park it someplace where you get the best interest.

 

[tranceport]

Tie it up in a Certificate of Deposit.

 

[Mookow]

Well, if they get a grow light, and a hydro set up... thats really the only way to make a lot of money out of a $2500 initial investment in 5 months.

 

[Freejack2]

Hmm there are some 90 day Certificates of Deposit that offer 1.5%.
I suppose $9 is better than $2 in interest.
Doesn't sound like they have any real options.

Should I recommend a 90 day Certificate of Deposit to them?

 

[rootaxs]

Go into short-term business.

Get an account with a Wheel distributor. I won't name names to protect the innocent but here's a good sample of what one can do.

A set of Brand X wheels wholesales for approximately $65 each in lots of 10. Cheaper if you get more at once, this company drop ships so you won't have to pay for shipping to your place.

Put an ad on E-Bay, even after fees i noticed some sellers get a clean $30/set easy.

Do the math, it works.

 

[StageLeft]

Savings account. Otherwise it's too risky over that short period.

 

[JoeBaD]

Meridian Resources NYSE symbol TMR

natural gas exploration company

low risk, high potential.

read about on yahoo board

 

[sandorski]

Originally posted by: Freejack2
Hmm there are some 90 day Certificates of Deposit that offer 1.5%.
I suppose $9 is better than $2 in interest.
Doesn't sound like they have any real options.

Should I recommend a 90 day Certificate of Deposit to them?

Hmm, McDonalds feast at end of it.


Seems kinda not worth it, but it does tie up the money for the duration. Check to see if it is Insured like a Savings Account, if it is, I'd go for it. [edit] if it isn't Insured, make sure to get it from a reputable and financially secure provider.

 

[DaveSimmons]

Originally posted by: JoeBaD
Meridian Resources NYSE symbol TMR

natural gas exploration company

low risk, high potential.

read about on yahoo board

Timmer!

Yes, I always buy stocks promoted by friendly people on internet message boards! Especially when they also somehow manage to send it to my email accounts too! They just want to make me wealthy!

I just know the price of these stocks will go up and up and up!

But seriously, the slots at Vegas offer better odds than most message board "hot picks" for stocks. 99% of them are "pump and dump" attempts.

 

[Hector13]

Originally posted by: Freejack2
Hmm there are some 90 day Certificates of Deposit that offer 1.5%.
I suppose $9 is better than $2 in interest.
Doesn't sound like they have any real options.

Should I recommend a 90 day Certificate of Deposit to them?

wait.. where are you seeing these 1.5% 90 day CDs? Is it 1.5% APR or for the 90 days? Are you sure this is in US dollars??

 

[tm37]

Originally posted by: rootaxs
Go into short-term business.

Get an account with a Wheel distributor. I won't name names to protect the innocent but here's a good sample of what one can do.

A set of Brand X wheels wholesales for approximately $65 each in lots of 10. Cheaper if you get more at once, this company drop ships so you won't have to pay for shipping to your place.

Put an ad on E-Bay, even after fees i noticed some sellers get a clean $30/set easy.

Do the math, it works.

you lose 35 so if he is able to sell 71 sets he is broke.

 

[JonnyBlaze]

yep, drugs.

you could double that once a week easily with certain ones


JBlaze