My fiancee and I have been saving a little here and there and we have roughly 10k that we could invest somewhere. We are getting married in September and that should give us a little more money 🙂 Nevertheless, we are thinking about getting a house in roughly 18 months. We want to continue investing more money and gain a return on this 10k to put down on our house. What would you guys/gals suggest? I am rather noobish with the investment opportunity options.
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Where would you invest 10k?
- Thread starter fLum0x
- Start date
AmpedSilence
Platinum Member
How risky do you want to be?
ubersafe -> www.fnbodirect.com (6% savings account, FDIC Insured, almost no risk of loss)
moderate -> mutual fund of choice (chance of loss, but having pros pick your stocks is a bit safer than doing it yourself)
uber risky -> self-directed stock trading fund from scottrade, etc. (my dad has the time to devote to this and he's posted short term gains of 40%, but also lost 12k in a month, so its crazy risky)
ubersafe -> www.fnbodirect.com (6% savings account, FDIC Insured, almost no risk of loss)
moderate -> mutual fund of choice (chance of loss, but having pros pick your stocks is a bit safer than doing it yourself)
uber risky -> self-directed stock trading fund from scottrade, etc. (my dad has the time to devote to this and he's posted short term gains of 40%, but also lost 12k in a month, so its crazy risky)
AgaBoogaBoo
Lifer
I don't have any specific help for you, but a high yield savings account (Citibank has a 5% account, ingdirect, etc.) should be a very safe option and you'll get 5%. You should also look at CD's and the rates they'll offer. Unless you can find a better way that you trust, these are pretty simple and straightforward, just toss money into the account and let it gain some interest 😛
AmpedSilence
Platinum Member
that was my original thought, but the OP said he wanted to buy a house in 18 months, so the penalties and gains would probably cancel each other out, so i choose not to suggest that.
AgaBoogaBoo
Lifer
I assumed someone else (parents) were paying for it.
maddogchen
Diamond Member
with 18 months look into savings/money markets of around 5% or more. That gives you guaranteed returns.
I would stay out of stocks, cds, or mutual funds because you are getting married and buying a house in the near future. You want that money available quickly. stocks are like gambling so you could lose a few thousand in 18 months. mutual funds are good for the long run like 10 years, not good for short term. with cds, you want your money available quickly because lets so you might need it for the wedding or something comes up around that time, you can get to it right awy and with cds you can't.
I would stay out of stocks, cds, or mutual funds because you are getting married and buying a house in the near future. You want that money available quickly. stocks are like gambling so you could lose a few thousand in 18 months. mutual funds are good for the long run like 10 years, not good for short term. with cds, you want your money available quickly because lets so you might need it for the wedding or something comes up around that time, you can get to it right awy and with cds you can't.
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