Page 1 of 2 12 LastLast
Results 1 to 15 of 17
  1. #1
    Addict
    Points: 155,533, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 13.0%
    Achievements:
    SocialVeteran50000 Experience Points
    jsmith86's Avatar
    Join Date
    Dec 2006
    Location
    Cedar Rapids
    Posts
    7,574
    Points
    155,533
    Level
    100
    Thumbs Up
    Received: 768
    Given: 3,566

    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?


    You can't die. That would upset the equilibrium in the Cave.
    Prohman Empire.




  2. #2
    Speechless
    Points: 233,668, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 19.0%
    Achievements:
    SocialCreated Album picturesVeteran50000 Experience Points
    dmclone's Avatar
    Join Date
    Oct 2006
    Location
    50131
    Posts
    15,337
    Points
    233,668
    Level
    100
    Thumbs Up
    Received: 1,004
    Given: 1,479

    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.



  3. #3
    Addict
    Points: 135,284, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 7.0%
    Achievements:
    Veteran50000 Experience Points

    Join Date
    Mar 2008
    Posts
    9,016
    Points
    135,284
    Level
    100
    Thumbs Up
    Received: 2,612
    Given: 320

    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.



  4. #4
    Hall-Of-Famer
    Points: 84,703, Level: 90
    Level completed: 53%, Points required for next Level: 847
    Overall activity: 0%
    Achievements:
    Veteran50000 Experience PointsCreated Album pictures
    azepp's Avatar
    Join Date
    Dec 2009
    Location
    Ankeny
    Posts
    3,964
    Points
    84,703
    Level
    90
    Thumbs Up
    Received: 186
    Given: 128

    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.



  5. #5
    Recruit
    Points: 7,176, Level: 25
    Level completed: 26%, Points required for next Level: 374
    Overall activity: 0%
    Achievements:
    Veteran5000 Experience Points

    Join Date
    Jan 2010
    Posts
    115
    Points
    7,176
    Level
    25
    Thumbs Up
    Received: 1
    Given: 5

    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.



  6. #6
    Pro
    Points: 143,979, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 1.0%
    Achievements:
    Social50000 Experience PointsVeteran
    iahawkhunter's Avatar
    Join Date
    Apr 2010
    Location
    Huxley, IA
    Posts
    2,892
    Points
    143,979
    Level
    100
    Thumbs Up
    Received: 118
    Given: 115

    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.

  7. #7
    Speechless
    Points: 450,755, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 7.0%
    Achievements:
    SocialVeteran50000 Experience Points
    alarson's Avatar
    Join Date
    Mar 2006
    Location
    Ankeny
    Posts
    23,891
    Points
    450,755
    Level
    100
    Thumbs Up
    Received: 2,778
    Given: 1,584

    Re: Short Term Investment

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

    Sandwiches.



  8. #8
    Addict
    Points: 155,533, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 13.0%
    Achievements:
    SocialVeteran50000 Experience Points
    jsmith86's Avatar
    Join Date
    Dec 2006
    Location
    Cedar Rapids
    Posts
    7,574
    Points
    155,533
    Level
    100
    Thumbs Up
    Received: 768
    Given: 3,566

    Re: Short Term Investment

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


    You can't die. That would upset the equilibrium in the Cave.
    Prohman Empire.




  9. #9
    Hall-Of-Famer
    Points: 66,607, Level: 80
    Level completed: 10%, Points required for next Level: 1,443
    Overall activity: 7.0%
    Achievements:
    Veteran50000 Experience Points
    Ficklone02's Avatar
    Join Date
    Apr 2006
    Location
    City by the Bay
    Posts
    4,302
    Points
    66,607
    Level
    80
    Thumbs Up
    Received: 154
    Given: 347

    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)



  10. #10
    Legend
    Points: 248,318, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 37.0%
    Achievements:
    50000 Experience PointsVeteranOverdrive
    CyFan61's Avatar
    Join Date
    Oct 2010
    Posts
    14,540
    Points
    248,318
    Level
    100
    Thumbs Up
    Received: 5,259
    Given: 1,382

    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.



  11. #11
    Addict
    Points: 90,460, Level: 93
    Level completed: 59%, Points required for next Level: 790
    Overall activity: 4.0%
    Achievements:
    SocialVeteran50000 Experience Points

    Join Date
    Apr 2006
    Location
    Hudson, Iowa
    Posts
    8,362
    Points
    90,460
    Level
    93
    Thumbs Up
    Received: 145
    Given: 237

    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.



  12. #12
    Speechless
    Points: 470,345, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 10.0%
    Achievements:
    SocialRecommendation Second ClassVeteran50000 Experience PointsOverdrive
    brianhos's Avatar
    Join Date
    Jun 2006
    Location
    Trenchtown
    Posts
    40,950
    Points
    470,345
    Level
    100
    Thumbs Up
    Received: 1,094
    Given: 119

    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
    Starter
    Points: 18,770, Level: 41
    Level completed: 80%, Points required for next Level: 180
    Overall activity: 0%
    Achievements:
    Veteran10000 Experience Points

    Join Date
    Jun 2007
    Posts
    788
    Points
    18,770
    Level
    41
    Thumbs Up
    Received: 54
    Given: 180

    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
    Addict
    Points: 136,266, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 5.0%
    Achievements:
    SocialVeteran50000 Experience Points
    ianoconnor's Avatar
    Join Date
    Nov 2007
    Location
    Urbandale
    Posts
    8,334
    Points
    136,266
    Level
    100
    Thumbs Up
    Received: 1,285
    Given: 2,850

    Re: Short Term Investment

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



  15. #15
    Starter
    Points: 15,044, Level: 37
    Level completed: 25%, Points required for next Level: 606
    Overall activity: 0%
    Achievements:
    Veteran10000 Experience Points

    Join Date
    Jan 2008
    Location
    Longmont, CO
    Posts
    747
    Points
    15,044
    Level
    37
    Thumbs Up
    Received: 40
    Given: 14

    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.



Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
  • TV: TBA
  • Football Season Opener vs. UNI
  • September 3, 2016
  • 07:00 PM