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gene | Small investments, CDs, etc.? |
So, I'm looking to invest around 3000 dollars in some form or fashion. I'm not terribly particular about what it's in, so long as I don't have to do alot with it once it's set up.
My main question is, obviously are CDs a good idea? I've looked at quite a few, and there's a few 3 month CDs at 3.15%.
Other than that, I'd also be willing to invest in some kind of mutual fund or something else. But, what I'm worried about is, whether or not this is a good time to invest. With the dollar and stock market tanking as we speak, I could REALLY use some advice.
Cheers. |
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noble8fold
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A money market fund will pay more than that CD plus if you need it you just take it out with no penalties. You could do a lot of things with it but it depends on when you want to use this money. If you go the CD route try splitting your $3,000 into 5 groups of $600.00. Buy a 6 month, 1 year, 2 year, 3 year, 4 year and 5 year CD. When your first one matures in 6 months roll it into a 5 year CD and keep this reinvesting schedule.This is called laddering. You will always have some money come available every 6 months and you will take advantage of possible higher interest rates later. Maybe lower as well but you stand a better chance of getting better rates by laddering. |
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whatsupchuck26
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Depends on how risk averse you are. The more risky the investment, the more upside you have. Meaning that your investment is at risk but you can earn more money on it than if you just park the money in a CD - probably the most conservative option. That's why the interest rates are only in the 3% range.
The market is very volatile right now - not so sure whether its a good time to get in or not....again, it depends on how much risk you're willing to take!!
I'd say if you think you're going to need this money any time soon (next few years) then you probably don't want to do anything too risky with it.
Good luck! |
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Marla
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No mutual fund for short term. 3 month CDs at 3.15% |
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Don
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You might consider a DRIP Plan. I have had mine for 22 years and it has performed very well. I just inherited $40,000 and the DRIP Plan was the only place I felt comfortable investing any of my money.
Check them out as one of your investment opportunities.
Best of Luck |
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Jennifer
|
Hi,
I used "Seisma" to invest in Oil and Gas Industries.They managed to give me 35% return of investment.It's legitimate.I came across this company on TV business news.Check it out here:
http://shortlinks.co.uk/k6u |
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Shaun R
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I'm not a big fan of CD's. But I don't believe you should just jump into the stock market without being prepaired. You should learn as much as you can about trading before you invest.
Do a few paper trades too. It may take a while to get the hang of it but it will be worth it. |
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kk3
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Cd's are probably the safest place you can put your money at this time. Even keeping it in a bank is risky as a lot of them are in trouble as well, although they are usually FDIC insured up to 100k. Mutual funds are good (long term)- what ever you do, make sure the portfolio is not invested heavily in Mortgaged Backed Securities!!!! You could probably get some good bargains between now and 6mo's. |
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