tsmag
New Member
Cash: $ 0.90
Posts: 4
Joined: 15 Jan 2007
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| Money for 1 year |
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I have about 7K that I can afford to put away for a year to 15 months, what would earn me the highest return? I'm 22 years old.
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Fri May 18, 2007 11:05 pm |
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efflandt
Senior Member
Cash: $ 80.45
Posts: 401
Joined: 25 Apr 2005
Location: Elgin, IL USA
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There is a difference between short term and long term investing and level of experience. For 12-15 months your safest option is some sort of savings account, money market fund, or CD that pays around 5% (not a passbook savings account that pays next to nothing).
For longer term, there are ways to make more. But there is more short term risk involved and you do not want your $7k to shrink to $5k or less. I certainly learned my leason investing 0% money, but the tax loss allowed me to convert more than I had planned from my IRA to my Roth IRA last year. I was still learning and am doing much better investing the IRA money this year [it is starting to beat my 401(k), for the moment].
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Sat May 19, 2007 1:37 am |
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stock1
New Member
Cash: $ 1.45
Posts: 7
Joined: 26 Jun 2007
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I would say go the safe route and open up a savings account with ING. They offer an option that is about 5%. It's also very easy to access your money with their accounts if needed.
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Tue Jun 26, 2007 3:57 am |
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janes-addiction
Member
Cash: $ 3.15
Posts: 15
Joined: 01 Jul 2007
Location: oHIo
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| Why ING? |
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I'm in the same boat as tsmag; why should I put my money (2k) in an ING account as opposed to a CD, especially if I don't need access to that money?
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Sun Jul 01, 2007 1:01 pm |
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Case-Face
Full Member
Cash: $ 0.35
Posts: 75
Joined: 21 May 2007
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| ING |
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What's the difference b/t a regular bank and ING? What gives ING a competitive edge?
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Wed Jul 11, 2007 4:57 pm |
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