What's the safest place to put my money right very soon to fashion over 5% interest?
I know that nothing's a sure thing, but I'd resembling to build my savings for the subsequent 6 months or so, so I can put a decent downpayment on a house. A few months ago it wouldn't enjoy been a problem to get hold of a CD near over 5% interest rate, but now it's pretty dfficult. What's a apposite safe place to hold my money growing so I can pull it out contained by the next 6 months.Answers: You won't possible find anything over 5%, if you do let me know.
Emigrant Direct and ING Direct recompense high interest rates on at hand saving accounts. Emigrant Direct pays the unbeatable rate at the moment 3.60% but they had it long-gone 5% a few times.
Do *not* put money in the stock open market if you need it within 6 months! Only a scammer would tell you a given stock pick is "safe". This may be a great time to buy stocks for the long tug, but stocks could get hit even harder contained by the few months.
There are no "safe" investments paying better than 5% right now. Even short permanent status bonds aren't quite touching 4%. Any other wellbeing, whether stock or bond, is going to have some short residence volatility even if the long term outlook is dutiful.
If you want to buy a house in 6 months, buy CDs or widen a money market narrative. Yes, the interest rate is going to stink. But, it would stink even more if you bought stocks, watched them drop, and have to put off buying a house for 2 or 3 years while waiting for your investments to get better.
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Some online bank such as Etrade are offering >5% Cds.
Has anyone ever used Prosper.com?
Was browsing things and came across Prosper.com. It claims tath you can catch high returns for investing through them to individuals. Just curious if anyone have ever used them and if they were worth the time. Was it a profitable experience, or should I stick near mutual funds? Any info would be appreciatedAnswers: I've got something like 40 active loans on Prosper. I've have no defaults surrounded by 18 months, although I have have a couple of late payers.
So far, I'm getting an 11% return investing mostly surrounded by "B" grade borrowers. Let me clear up a few misconceptions:
1) They *do* own a mechanism for going after deadbeats. Every lender select a preferred collections agency before placing a bid (you take a choice of 3 or 4).
2) Some people *have* lost money - lots of money - through default. Those people are greedy morons going for 25% returns from empire with poor credit or no credit.
You find the credit history on every borrower including a credit grade, number of delinquencies, outstanding debt, length of credit history, income, etc. Bank accounts and home ownership (if claimed) are both verified. Credit histories list from spotless credit to recent bankruptcies (and everything surrounded by between).
If you like predictability, or you're a small time investor, walk with the glorious credit ratings. You end up making loans at 8% and, after default, earn maybe 7%.
If you want to product money on high risk borrowers, you stipulation to begin near *lots* of money so you can spread your risk (I mean similar to $20K). You'll still have default but, on average, you'll make out other. Invest in singular a few loans, and you could get seriously screwed.
I'm a small time investor, so I target mid-grade borrowers. Although none hold defaulted so far (after 18 months), I expect some will. Over the long tug, I expect my average interest rate of 11% to return around 9%.
I wholeheartedly recommend this for a *portion* of your investments. You'll do well if you're a scrupulous bidder and not a greedy moron.
One last data: Prosper doesn't yet allow you to vend a loan once you've made it. So, expect your money to be tied up for the duration of a 3 year loan (although you'll get it compensated back to you within monthly payments).
I asked this very cross-question just 3 days ago.
I hold been planning on investing within Prosper.com for many months very soon. However, based upon what a fundamentally informative individual told me, who had be investing in Prosper.com since summer of 2007, I will not do it.
I be very suspicious of the perception of loaning money to people who be irresponsible with their money contained by the first place, and thus they need a loan.
The individual who answered me said here were several problems, I will inventory what I remember:
1. The default rate at Prosper.com is much, much greater than they claim.
2. They have no working gears in place to move about after dead beat who decide they are not going to wage the money back.
3. The rates they hype are not realistic, and seldom does anyone take them.
He listed several more reason, that is simply all I can recollect.
He was awfully to the point with me, and told me that it is a devastating way to invest money and a life-size portion of the people who do invest, come out on the short completion of the stick.
What is the stock symbol for the Green Bay Packers?
Answers: The Packers is not a publicly traded company.
The shares are not publicly traded hence no ticker symbol. I own one share.