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  1. #1
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    Short Term Investment

    While I realize that I can only trust free investment advice as far as I can throw it, I used to have a pretty good arm back in the day, so I'm willing to take a chance on asking.


    I've got some money that is just sitting in a savings account right now, and I just can't help but wonder if there is a way to get a better return on the money. Chances are that I'll need to use a couple thousand around august for moving expenses, but I would like to earn more than the 0.01% or whatever piddly rate the bank pays for savings. I've looked at CDs and money market accounts, so I know what some of those will get me for a return, but I was wondering if any of you had any other ideas for a short term investment that is, or will be, easy to take some money out of around august? Because with the rate paid by my bank for anything under $100,000 I might as well hide the money under my mattress, but unfortunately the FDIC won't insure my mattress. So, any suggestions?


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    Re: Short Term Investment

    Based on what you say, you probably should just leave it in a savings account.

    You have 7 months, it doesn't sound like you'd be comfortable losing a lot of money, etc. If you do decide to invest in something make sure you put some stops in place.



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    Re: Short Term Investment

    Right now there isn't much that is getting a really great rate. The price we pay for low mortgage rates, basically.

    I'd check around at various CD's and find the best rate.

    There's worse things than having the money safe in a savings account.



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    Re: Short Term Investment

    Depends how much you have. There aren't great returns anywhere right now, but some banks are paying around 1% on balances over 25k.



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    Re: Short Term Investment

    Quote Originally Posted by jsb View Post
    Right now there isn't much that is getting a really great rate. The price we pay for low mortgage rates, basically.

    I'd check around at various CD's and find the best rate.

    There's worse things than having the money safe in a savings account.
    ING Direct and Ally Bank offer 1.1% savings rate and you can pull out anytime you want. I have all my emergency savings in ING.



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    Re: Short Term Investment

    Quote Originally Posted by CycloneKC View Post
    ING Direct and Ally Bank offer 1.1% savings rate and you can pull out anytime you want. I have all my emergency savings in ING.
    I'd also suggest looking at ING. I get a much better rate through them than with my local bank.


    Quote Originally Posted by im4cyclones View Post
    [Anything] is easy if you are content to suck at it.

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    Re: Short Term Investment

    [ame=http://www.youtube.com/watch?v=e3QRTToTLzI]YouTube - The sandwich-heavy portfolio.[/ame]

    Sandwiches.



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    Re: Short Term Investment

    Quote Originally Posted by alarson View Post
    As long as they don't have mayo.


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    Re: Short Term Investment

    West Bank pays 3 or 4%(can't remember which) for checking that pays. 2 catches: must have two automated deposits into the account per month, plus 12 transactions out of the account per month using the bank provided atm/debit card. (must make charges as a credit to get to the 12 transactions)



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    Re: Short Term Investment

    I have a savings account at SallieMae that pays 1.3% APY. Highly recommend it. Very easy to use, just link it to your checking account.



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    Re: Short Term Investment

    I loan some operating money to my brother who's a farmer. Am getting 4.5% which is pretty good in the current enviornment.

    Dealing with family can be tricky. My family is pretty business minded and we'd rather take a loss than screw someone. That being said I have a contract he signs with everything spelled out and penalty clauses if not paid back.

    I've been doing it for about 10 years and no problems. Have always gotten a better return than a CD pays and he's getting a better deal because it's less than what he can borrow for.

    He's told me that he can get money mid season if I need the money for something else, but that hasn't happened yet.

    Thats about as good an idea I can give you. You can try the stock market, but no gurantees there and you're rolling the dice.



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    Re: Short Term Investment

    ING is paying 1.1% on orange right now. Better than a bank, but not much.

    I am looking into 6 or 12 month CD's also, but they really don't pay much better.

    you can get 1.29% on a 100k 12 month CD at Ally if that fits your needs.


    Last edited by brianhos; 01-23-2011 at 02:26 PM.
    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

  13. #13
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    Re: Short Term Investment

    Quote Originally Posted by brianhos View Post
    ING is paying 1.1% on orange right now. Better than a bank, but not much.

    I am looking into 6 or 12 month CD's also, but they really don't pay much better.

    you can get 1.29% on a 100k 12 month CD at Ally if that fits your needs.

    You can do better than that with a midwestone checking account. Similar requirements to those listed previously in this thread.



  14. #14
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    Re: Short Term Investment

    You could pay for my buy-in to the WSOP. I'll give you 75% of my winnings.



  15. #15
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    Re: Short Term Investment

    Intrest Rates are pretty bad right now but I would check the forums over at Fatwallet. Look in the finance forums lots of info there.



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