short term investment

[tissimo]

Whats a short term investment that'll make a decent return? I'm selling my car and will have 10k+ to invest for 6 months or so until i'm ready to buy a new car..

I was looking at the IGN Orange savings account, they say 4.5% interest and its still liquid, seems pretty good.. CDs are around 5% but arn't easily cashed out if I need it from what I hear.. ideas?

 

[suprarx7nut]

CD's are a sure thing with a good return. But I think they have to be 9 months at least. My shortest option was 9 mos. It gave me a 4% return, I believe.

4% of 10,000 = 400 bucks.

 

[iwannadie]

I keep a money market account open, you can pull/add money as you see fit. The rates go up the more money in the account. Its not the best return on cash but it is free money with no commitment.

400 bucks a month for 10grand sounds like Alot to me or did I missread lol.

 

[forcefedsupra]

4.5% isn't that good. All of my money market accounts get over 5%.

 

[Ckanderson]

my savings account is 4.89 percent

no commitment, and full acess to the cash if I need it.

 

[foreverpsycotic]

6mo gvt bonds?

 

[JSHeinrich]

you can get cds at 6 months too sometimes even 3 but the interest rates arn't going to be nearly as high. I have an ING account, i thingk emigrantdirect.com has a higher rate and those are good because you have full access.

 

[7Mboost]

Like any short term investments? Since your handy on cars, buy a cheap car in the paper fix/clean it up and resell it, since your doing your own labor you will be making more money, I have been doing it with my dad for years, just gotta keep the cars cheap so they sell quick.

 

[suprarx7nut]

I keep a money market account open, you can pull/add money as you see fit. The rates go up the more money in the account. Its not the best return on cash but it is free money with no commitment.

400 bucks a month for 10grand sounds like Alot to me or did I missread lol.

400 for the entire 9 month period. Not per month.

Money market accounts require a large minimum balance, dont they? The highest interest at US bank for under 10 grand is 0.5%. Are you guys sure you get more than 5% on a money market account? Or do you just have a balance of $250,000+?

Who offers accounts with more than 5% APY?!?! Show me to their doorsteps, please.

 

[tlo86]

get the paypal market thing ive made a quarter a month for about a year now while always having 10$ in the account Lol

daytrading is a good way to make a few bucks... or lose everything!

 

[swaq]

PayPal is just over 5% currently, I believe.

 

[dugums]

Shop banks and find a good money market account. My local bank offers a higher return on the money market account than any of the CD's I could find.

 

[Enraged]

you would probably make more money if you left the $10,000 as cash/savings account and stopped eating out for 6 months.

 

[americanjebus]

Weed.

 

[Quin]

Weed.

lol

 

[suprflyusmc1]

lol

That's the ghetto IRA right there.

 

[forcefedsupra]

Paypal is over 5% and you have access at all times. Just make sure no one else has access. If you or a relative is active or prior military, you can get an account at USAA.com. That is the best one I have.

 

[Element256]

Do you guys REALLY trust paypal with that amount of money ? tsk tsk

 

[iwannadie]

Do you guys REALLY trust paypal with that amount of money ? tsk tsk

I wouldnt, I use my local federal credit union. Its money market is just below paypal interest but I feel much safer with the bank. I can go to any branch if I have a problem. Where do you go when you have a problem with paypal? Call some guy in india named bob smith surprisingly.

 

[swaq]

Do you guys REALLY trust paypal with that amount of money ? tsk tsk

Better than Prosper........ I've never had a problem with PayPal. I've kept up to 5 digits worth in my PayPal account. Maybe I'm just lucky?