Rebecca W
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Stick with a CD being a college student you dont want to risk your money in the market. Basically with a Cd your best option is to open more than one for different lengths so put half of what you want to invest in for 12 months and then the other half in 6 months that way you wont be tempted to take your money out halfway because some of it will be eligible to be released sooner. That is what I did, and I am also in college and poor, and I havent regretted my desicion at all. My money is in for 2 years and Im getting ready to open another CD. Good luck |
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Oprah's Minge
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I don't know the answer but I do know that you can talk to a financial advisor. Many of them give free consultations, it can't hurt to see what they have to say. BTW, go to an advisor and not a broker. Here's a sight that I heard on NPR, they said they give free consultations but I don't know anything about it. www.inveastwisely.com
Good luck. |
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Giggagirl
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Hmmm get a financial advisor... sometimes you can find them at the bank...
But invest in diapers...
Good luck
I own stock with
Wal-Mart- 4% share
Starbucks- 1.5% share
My daughter will be well taken care of if somethign happens to me... |
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Lexi
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i invested 3500 in a 12 month cd and it has worked out great for me.... make sure you dont put all of it in a cd because u dont want to have to go into the cd money....good luck! |
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boxman
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If you're just wanting to invest in the short term then a high rate cd is your best option. But if you're still young then you should seriously consider opening a long term investment account. You can do that at any bank and you will earn more money in the long run. |
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sublime34
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talk to a financial advisor |
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Melody S
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If you are look at such a short time frame then a CD is fine. Its not what I would call investing though. Its really just storing cash for a short time frame. Yes you will earn some interest, but after taxes and inflation its nothing much to speak of. I would recomend only putting what you absolutely know you will not need into a CD however since you have to pay penalties if you withdraw early. Another choice might be a money market which gives you similar returns to a CD, but doesn't lock you into a certain time frame.
If you really want to start investing though you should talk to a financial advisor and come up with a good long term strategy that will fit your individual circumstances. |
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sentriclelaw
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For less than $10,000 then yes a CD is fine. But the main logic is first, if you have credit card debt, pay it off.
Any other questions you can email me. I am a CFP, but unemployed. |
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Sam <3
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id get a Cd with half of your money and with another quarter of it buy a savings bond. Keep the bond for as long as you can earning money but keep the CD issued for a long time. You can earn an interest rate of sometimes over 7 % thats amazing! Just ask a local bank for details. Rules and reqirements depend on waht bank you are using. |
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martin h
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7500 isn't really enough for a cd. If that's all your savings, I would keep it handy in case you need it. Maybe you could put it in a mutual fund if you want it to earn a little money. |
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ProudArmyWife2005
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Invest in an IRA...It's the only way to go! |
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sanbox69
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cd is good, if you want short-term; stocks or an IRA are better for long-term |
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Frank Castle
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Open a brokerage account at Zecco and invest in Sony, Microsoft, Nintendo, Apple and Yahoo! until you have enough for a down payment for a house. |
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BLKBELT1
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give it to me (lol) thats too tough to answer because if all of us had that answer we would be on vacation in mexico or something not on the computer |
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