Best Short Term Monetary Investment?

[Isifhan]

Hope I can get some folks opinions on this. There's a good chance I'll be moving out West in less than six months...I'd say six months on the high end. I have a chunk of change I'd like to invest and get the biggest bang for the buck in the shortest amount of time (don't we all right?) The sum is about $4k-5k and I wanted to see what may be the best option as esentially I'd be using that money to move so I would need it to be accessible. CD's are hovering around 4% in NYC at the moment and am thinking that may be the best option. Any otehr advice would be appreciated.

[G.A.C.O.L.B.]

A pizza place that accepts pesos.

[Leonard Washington]

i would go with the CD or buy a package.

[TradeTheBeal!]

Weed, definitely weed.

[G.A.C.O.L.B.]

Weed, definitely weed.

Na man. Crystal meth is that hot **** now. It's gonna be big on the East Coast eventually.

[cjcdaman]

Anything but what was recommended by the left wing nuts in the last two replies.

[TradeTheBeal!]

Anything but what was recommended by the left wing nuts in the last two replies.

I'm not "left-wing", it just seems that way because I far more intelligent than you...like most people.

[cjcdaman]

I'm not "left-wing", it just seems that way because I far more intelligent than you...like most people.

:laugh: You're not "left-wing"? Dude, you define "left-wing." You are a liberal nut-job. Case in point . . . your meth/coke-induced thread from the other night. :laugh:

[Enter Apotheosis]

Anything but what was recommended by the left wing nuts in the last two replies.

Weed and drugs in general are a good short-term investment, though. Even if you are a diehard conservative, its hard to deny this.

[NOVA2Tampa]

Vegas...Roulette wheel...bet on black...

[Blighty Skins]

I heard there are some great investment opportunities involving Nigerian banks. :cool:

[Seabee1973]

The best bet is to look around short term Cd wont net u much but a little bit more than a a reguler mutual fund if you can put some of that money into a longer term deal it would wield great success.

[Gallntfox]

Rates in my office are in the 4 percent range for a one year CD. Check around as the rates will vary from bank to bank. I sell CD's for periods as short as 30 days up to 5 years but you need to invest for at least a year to earn interest over the 4 percent range.

Better option would be an interest bearing savings account in an FDIC insured bank...we currently have one with a minimum deposit of $500 that pays 4.25%.

Here is an example of our current rates. Shop around and read the fine print on fees.

Product Rate APY*

CD 5 Year 4.45% 4.55%

CD 3 Year 4.40% 4.50%

CD 2 Year 4.40% 4.50%

CD 1 Year 4.40% 4.50%

CD 6 Month 2.27% 2.30%

CD 90 Day 2.13% 2.15%

CD 30 Day 1.29% 1.30%

Insured Money Market

Balance $0.00-$4,999 0.75% 0.75%

Balance $5,000-$14,999 0.90% 0.90%

Balance $15,000-$49,999 1.09% 1.10%

Balance $50,000 and up 1.19% 1.20%

Savings 4.16% 4.25%

Checking Plus Interest 0.75% 0.75%

[ozskin]

Weed and drugs in general are a good short-term investment, though. Even if you are a diehard conservative, its hard to deny this.

Drugs are a good short term investment.......till you get caught and get ass raped in H Division. But until then, it's worth while.

[MSJHWT]

With $5k to open (but any balance will keep the account open) you can open an E-Loan Savings Account online and earn 5.38% APY.

With $1 to open you can open a GrandYieldDirect (Apple Bank) Savings Account earing 5.27% APY.

Both are FDIC insured, and you do not have to give up liquidity.

AmTrust has a 6 month CD for 5.46% APY, $1k min.

With the inverted curve we have right now you won't get a higher rate at a longer term.

[MSJHWT]

Forgot to include links, check out:

http://www.bankrate.com/

[Isifhan]

Cool thanks for the info guys.

[iheartskins]

Also--consider t-bills or other low-risk alternatives...

The more risk tolerance you have, the more potential upside (and downside) you'll make yourself available.

[wshngtn1]

Just be sure to read the fine print on fees and commissions. Your profits could really take a hit from them.

[techboy]

I currently use Eloan savings, at 5.38% APY, but there are numerous good options at the moment, many of which are much better than 4% with effectively no risk (FDIC insured). I find the Fat Wallet Finance Forums to be an excellent source of information.

There are a couple of sticky threads at the top that deal with the best interest rates currently available in a variety of financial products.

[Midnight Judges]

I'm a mutual fund guy. I know jack squat and I've done pretty well just from reading the monitor. My mutual funds run circles around my money market bank account.

[Mr. S]

I am trying to save up money for school again next year, I have set aside a similar amount as well. My mom wants me to invest into mutual funds, I guess they are not the biggest bang, but it would be better after a year to hold onto them.

I don't know much about the market or anything, but seems like day-trading is obviously the biggest bang for your buck, and riskiest as well. Or sports betting, I wonder what the odds were on the game last night.

[Midnight Judges]

I am trying to save up money for school again next year, I have set aside a similar amount as well. My mom wants me to invest into mutual funds, I guess they are not the biggest bang, but it would be better after a year to hold onto them.

I don't know much about the market or anything, but seems like day-trading is obviously the biggest bang for your buck, and riskiest as well. Or sports betting, I wonder what the odds were on the game last night.

You will not strike gold with mutual funds but to me the low risk/reward is a good fit. The most common advice is to diversify your risk. For a young person it's good to do dabble in high risk, but also keep some $$$ in medium and low risk.