Where to invest with 20K???

[OhZyeah]

I have almost 20K to invest...10K is already in an ING direct savings account getting 2% APR.

I was wondering what I should do with my other 10K? Should I stack it with my ING direct acount, or are there any other investment tools that I can use.....keep in mind I need this money within a year so CD is out of the question. Unless, it's a short-term CD which pays a higher APR than ING's 2%

 

[Kenazo]

6 brk.b shares.

edit.. didn't see that 10k was spoken for. get 3 shares.

 

[TripleAAA]

Depending on house costs and the market in your area, I'd put it as a down payment into a house.

 

[bluewall21]

Find a good mutual, put it there.

 

[rufruf44]

Originally posted by: Kenazo
6 brk.b shares.

edit.. didn't see that 10k was spoken for. get 3 shares.

Whats the diff between A & B shares? I thought its voting rights, but their prices not moving in the same direction as well.

 

[FeathersMcGraw]

If you haven't made your IRA contribution for 2004, take $3K (or is it $3.5K this year?) and put it there, assuming you want some money at retirement.

 

[brxndxn]

2% interest? That means you are losing money compared to the real market.

If you really want serious financial advice, contact a financial advisor. They might have a small fee, but over time, they know better what to do with your money than a bunch of random people on a forum.

You also need a strategy.. Do you want to diversify? high risk? low risk? Do you want ready access to the money?


Dude, get some real help.

My mom is a financial advisor.. Half the clients she has to deal with are people who lost their money trying to invest it themselves while still trying to live a comfortable lifestyle.

 

[bluewall21]

Originally posted by: brxndxn
2% interest? That means you are losing money compared to the real market.

If you really want serious financial advice, contact a financial advisor. They might have a small fee, but over time, they know better what to do with your money than a bunch of random people on a forum.

Thats a good idea, do that.

 

[Kenazo]

Originally posted by: rufruf44

Originally posted by: Kenazo
6 brk.b shares.

edit.. didn't see that 10k was spoken for. get 3 shares.

Whats the diff between A & B shares? I thought its voting rights, but their prices not moving in the same direction as well.

those are preferred vs common shares (iirc). Here the b shares are merely a fraction of the A shares, in my understanding.

Brk.A shares are $93,000 a piece, not too many people can afford them, however you can get great commission rates on them, since they are only 1 share.

 

[Dufusyte]

RYTPX is heading up.

 

[lokiju]

You could invest in me.

 

[DaveSimmons]

keep in mind I need this money within a year so CD is out of the question.

then you should ignore the advice about Berkshire and a financial advisor and just put it in ING.

Anything you do with stocks for less than a year is gambling. You might do better than the 100% safe 2% return of ING but only by piling on risk. If a possible extra $1,000 is worth the risk of losing $3,000 you still might be better off playing the slots at Vegas.