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Investment Gurus

S

Spooner

Lifer
I have a CD that is going to mature at the end of the month. I only earned about 3.51% on this CD and figure I can do a little more. I have some other money thrown in ING Direct currently earning me 4.40% but I dont like having too much money all in one place. My father tells me to invest in I-bonds that I can buy online, but those only look to have a 2.4% return.

Any gurus know a good place to stick this money? I already have other money playing around in the stock market and also have a 401k through my company matching.

Please advise.

a little background: 27 year old, single, no dependents, currenly renting but looking to possibly buy in 2007.

 
Originally posted by: Spooner
I have a CD that is going to mature at the end of the month. I only earned about 3.51% on this CD and figure I can do a little more. I have some other money thrown in ING Direct currently earning me 4.40% but I dont like having too much money all in one place. My father tells me to invest in I-bonds that I can buy online, but those only look to have a 2.4% return.

Any gurus know a good place to stick this money? I already have other money playing around in the stock market and also have a 401k through my company matching.

Please advise.

a little background: 27 year old, single, no dependents, currenly renting but looking to possibly buy in 2007.
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I think you should go ahead and stick it in a savings account and start looking for a house. Save up a little more money to go along with it and you should have a nice down payment.
 
give it to me. I made 28% of the stock market since april. I'll give you half of the profit 🙂
 
Originally posted by: jhayx7
I think you should go ahead and stick it in a savings account and start looking for a house. Save up a little more money to go along with it and you should have a nice down payment.
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well, there's no gaurantee that i'll be buying in '07 though. Could be more like 08 or 09

I have other money that I could use toward a downpayment, so I don't even need this money to be all that liquid
 
I-bonds are a bad deal right now. And they are really best for doing college based savings because of the tax advantages.

Right now you can pull around 5.1% at Vanguard in their "Prime" money market. If you wanted low risk, decent yield, that's probably your best and easiest option.
 
Originally posted by: phatj
give it to me. I made 28% of the stock market since april. I'll give you half of the profit 🙂
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You're delusional if you think you can maintain anything close to that.

OP, just put it in ING Direct or one of the other high interest online banks.
 
Originally posted by: jhayx7
Originally posted by: Spooner
a little background: 27 year old, single, no dependents, currenly renting but looking to possibly buy in 2007.
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I think you should go ahead and stick it in a savings account and start looking for a house. Save up a little more money to go along with it and you should have a nice down payment.
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Jhayx7 nailed the critical part of your post. If you are likely to need this money in a year (or even just a half year), then you'd be very well advised to stay out of stocks. While you may do well in stocks, they are much better as a long term investment.

My best advice is to determine when you will most likely buy that house if you do buy it, and then find the highest yield CD that is a month or two shorter than that time. If you choose not to buy a house then, you can move the money into something that is higher yield.
 
You can get 6% risk free by putting it in a 13-month CD at World Savings I have my cash in that bank and they have a ton of brick & mortar branches all over California. They are a great bank with good customer service.


CountryWide is another high rate bank.


 
Originally posted by: fallenangel99
Put it in either Emigrant Direct (5.15% APY savings), HSBC (5.05% APY savings).
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thinking about doing this as well. probably the lowest risk / highest payout of any of my optinos huh?
 
Originally posted by: Spooner
Originally posted by: audiotherapy
maybe flip some used cars for 10k....
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say wha?
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Talk to PAB - you buy a used car and then flip it and commit insurance fraud.

Er... wait, I think he means buy and resell used cars. Also talk to PAB, he'll give you all sorts of tips like cars with Jesus fish on the back are good moneymakers.
 
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