Comments on: Savings account?

By: Hydrox

Hydrox — Thu, 09 Jul 2009 01:14:10 +0000

If you don’t plan on using it for 5 years or more, that is investing. Then put it in a mutual fund.

If you need easy access and may need less than 5 years, try a money market account – you can get about 4.5% interest and checks to have access if needed. You can get an account without fees too and the money is insured.

By: googie

googie — Sun, 05 Jul 2009 18:39:10 +0000

Depending on your age,income, potential future earnings you should spread the money around . Keep a small amount in savings for immediate withdrawal in the event of an emergency, find a good stockbroker who will invest the balance partly in a mutual fund, the balance in stock. Each of these venues will give you a higher rate of return. Also there are several CDs which pay better than 5%.

By: richard_strayer

richard_strayer — Sat, 04 Jul 2009 04:34:03 +0000

Internet banks with a brick and mortar presence are good. A couple of high yield savings (near CD rate) accounts are ING Orange and Countrywide Savings Link.

Both can be connected to your account so you can transfer funds electronically.

OR You could go on vacation and get memories that will pay dividends for a lifetime.

By: Miguel Anchovario

Miguel Anchovario — Fri, 03 Jul 2009 21:44:29 +0000

Risk increases with return. The safest choice would be a money market account with a company like Vanguard, or you could get a similar rate using a savings account with INGDIRECT. My next choice would be a bond fund with Vanguard for a slightly higher return, and after that I’d get into equity mutual funds.

By: The Professor

The Professor — Thu, 02 Jul 2009 02:07:13 +0000

Try ING Direct. They are an online bank that is covered by FDIC insurance, yet their accounts pay a much higher rate of interest (4.2% right now). They have been recommended by Money Magazine and may other reputable financial sources (as has ETrade Bank).

By: Diane

Diane — Mon, 29 Jun 2009 06:24:57 +0000

I work for a brokerage firm. I would try some low risk mutual funds such as American Funds or there may be a money market with a low rist through a brokerage account. Also, try a CD with your bank possibly.

By: dillontraynor

dillontraynor — Sun, 28 Jun 2009 05:59:05 +0000

put them in a mutual fund, works like a cham, I get at least a couple hundred every year in interest.

By: ANGEL

ANGEL — Fri, 26 Jun 2009 22:53:20 +0000

There are internet only banks that are FDIC insured and have much higher rates of return than other banks. Well worth checking out!

By: creader420

creader420 — Fri, 26 Jun 2009 17:46:33 +0000

INVEST IN STOCKS, OR C.O.D.’S

By: NKB

NKB — Fri, 26 Jun 2009 14:49:34 +0000

Open a CD (certificate of deposit) Go to a customer service representative at the bank and ask what kind of rates and terms they have going. This is your safest option because you are guarantied a return on investment and there is no risk.