Making money next to money?
I have 73K and I want to reclaim the money for at least 6-10 years. I want to 'product money with money' I thought more or less a Cash Deposit but those dont have intensely high interest rates. Whats a similar risk to a CD but have higher rates?Answers: That is a substantial sum of money, I would approach this in a unbelievably conservative manner.
Your first resort should be to fund fully a retirement account. If you do this, and you own extra cash, afterwards one of the best things you can do is open a DRIP Plan.
These powerful investment plans are seldom talk about because brokers formulate very little money when they suggest them. Yet, they own proven to be one of the best, if not the best, long-term strategy on Wall Street.
They are correct for small investors, as well as big investors. They are out of danger and allow you to not care roughly whether the market is going up or down. They are a must for any serious investor.
I strongly recommend looking into it. They are great plans.
Mutual Funds or Money Market would probably be your best pick.
Good info below
everything risk
risk a thin that we have need of to do
good luck
First, set aside 3-6 months of expenses for emergency and put that in a money souk account - they remuneration about 4% very soon. The rest should be invested into some lower-risk mutual funds with a solid company approaching Fidelity or Vanguard. Stay away from individual stocks unless you are a seasoned investor willing to put like mad of time into studying each company on a regular font. I'd probably put a third in an S&P 500 Index Fund, another third surrounded by a good growth & income fund, and another third within a Balanced fund that is a mix of stocks and bonds, since you want to use the money within perhaps six years.
Don't pinch individual advice bad the internet on single stocks. For example, to say that General Motors (a motor company, stock symbol is GM, not GE) is going to triple in six years is ridiculous. On average over the long permanent status, a good growth mutual fund may double your money over six years.
By the agency, GE is General Electric - a much better stock than General Motors. But, stick to mutual funds! Look at the companies that each fund holds, and be comfortable that you take what your are investing in.
If you want to prevent a loss at adjectives costs, CDs are the way to dance. Any other options that hold the potential for a higher return will also hold the potential for loss. Also, don't get your CDs from your local wall - those rates will stink. Look for a reputable online bank close to ING Direct for good compact disc rates.
I'd get short-term CDs right presently (3 to 6 months) since interest rates are so low. There's no sense in locking yourself into a low rate 5-year disc. If rates go up within a year or two, you can lock in a long residence, higher rate at that point.
More meaningful questions at this point are: What do you want to use this money for? How impossible would it hurt if this money lost a little pro after 6 to 10 years?
If you're saving this money for a planned expense approaching buying a house or paying college tuition, then stick next to the CDs. It'd be awful if you had to glitch college or buying a home because your investments lost money.
If, however, you could ride out stock market fluctuations, afterwards a broadly diversified, low cost, no-load stock mutual fund could be smart (perhaps the Vanguard Total Market Index?) The long term trend of the stock bazaar is "up", but there can be delirious fluctuations along the way. There are completely few 10-year periods surrounded by the last 100 years where on earth stocks lost money (although there own been times when stocks made money, but other investments, resembling bonds and CDs, still fared better).
So, if "6 to 10 years" isn't a tough and fast timeline, stocks are the mode to go.
Finally, a new way to decrease the effects of a volatile stock market is to put *half* of the money surrounded by a stock index fund, and the other half surrounded by CDs, and rebalance every year. This will reduce your volatily while still giving the potential for highly developed returns. Scott Burns calls this the "coach potato portfolio" because of its simplicity and worth.
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Regarding Green Dot?
Please don't give me a moral urge as an answer.I'm three years underage (15) and think my parents really wouldn't approve of me giving my SSN. So I only just need to know if during the Green Dot Activation the guy tell the guardian anything about giving the SSN? Does he discuss the together transaction with the parent or does he only ask if the parent agrees with the cardholder agreement?
Answers: adjectives he does is go over the agreement!
Where can i start a ridge acount for my son?
he is 3 yrs oldAnswers: Are you looking for an Educational Savings Account ... or a straightforward account?
If ESA ... well brought-up info here:
http://www.daveramsey.com/etc/askdave/?i...
For a basic rationalization, I don't see how anything would be better than your local credit union / sandbank.
What does a 3 year old inevitability with a wall account, but the just place might be where you do your bank.
Don't screw up his adjectives by deceptive practices.
Added
You will NOT way of walking into any bank and start an account for a 3 year prehistoric unless your name and SSN a associated near that account.
anywhere.
stir into the bank and give an account them that you want to open a guard account for your son and provide them beside his SS# and name yourself as the mature responsible for the account.
If you are trying to find around any of those things, then it's not going to ensue.
How about a wall ?