metallidevils Posted September 14, 2010 Share Posted September 14, 2010 Hey, so, I have a chunk of money that I don't foresee needing in the next year or two, but it's sitting in a savings account that has a low interest rate. what's the best/easiest place to put this money for short term (year or two) that has a decent return? Thanks! Quote Link to comment Share on other sites More sharing options...
insanity_gallops Posted September 14, 2010 Share Posted September 14, 2010 I don't know jack about actually investing in anything (stocks, bonds, etc), but if you really don't think you need that chunk o' change for a year or two, you could look into putting it into a CD at a bank. It's nothing flashy and it won't make you "win big" given the low interest rates on CDs, but you could at least pick up more than in your savings account. Last I checked, 1-year CD was a touch over 1%, 2-year was about 1.4%. Again, not a fantastic option if you really want it to grow, but pretty safe. Quote Link to comment Share on other sites More sharing options...
sammyk Posted September 15, 2010 Share Posted September 15, 2010 You can always put it in a 50 year CD at the SammyK National Bank. They offer 20% interest. Quote Link to comment Share on other sites More sharing options...
jim777 Posted September 15, 2010 Share Posted September 15, 2010 (edited) It's all about the risk you're willing to take man, all about the risk. You can play it safe with an energy or precious metals based mutual fund, or go high risk and buy BP stock. Either way, if it's a decent amount of money and not just enough to cover a new pair of Supreme TotalOnes or something, I'd ask a pro. Edited September 15, 2010 by jim777 Quote Link to comment Share on other sites More sharing options...
overtime98 Posted September 15, 2010 Share Posted September 15, 2010 Maybe something here will work for you... http://home.ingdirect.com/open/open.asp Quote Link to comment Share on other sites More sharing options...
PeteyNice Posted September 15, 2010 Share Posted September 15, 2010 It all depends on the amount of risk you are willing to take. I would be all about dividend paying stocks. You can easily clear 6-10%+ on the dividend as well as any price appreciation. Some ones to look at - do your own research etc etc etc: Verizon (VZ) 6.25% Altria (MO) 6.42% - Phillip Morris Analy Capital Management (NLY) 15.46% - Real estate American Capital Agency Corp (AGNC) 19.88% - Real estate Linn Energy (LINE) 8.30% - Oil/Nat Gas extraction Kinder Morgan (KMR) 6.31% - Oil/Nag Gas pipelines Enerplus Resource Fund (ERF) 8.80% - Oil/Nat Gas extraction Generally you have your blue chips, real estate and energy companies that tend to pay out. Most pay quarterly some pay monthly. Of course there is risk involved in anything but with savings and CD rates pitifully low I think it makes sense to branch out a bit. Quote Link to comment Share on other sites More sharing options...
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