09-13-2003, 09:55 AM
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 Re: Advice for short-term investment? Thanks for the informative responses! I've owed the Govt. the last three years running WITHOUT this $800 gift, so I'm almost sure I'm going to be giving it right back. I will certainly look into ford, cd's, and the orange account. Thanks again! ....Ben On 4 Sep 2003 16:55:05 GMT, mark0young[at]aol.com (Mark0Young) wrote: - quote - > In article <5qbalv4v7nu3q7bekc5j9bkocf1gueak5u[at]4ax.com> , Ben Parrnelli > <Parrnelli[at]oohay.com> writes: > > Any suggestions on how to get the most bang for my buck (or 1000 bucks > > in this case) over the next six months? CD? Money Market? > A money market account may be a halfway decent place, or some other > FDIC-insured account, such as the Ing Direct Orange Savings Account > (http://ingdirect.com, currently paying 2.00%APY). > You may be able to find a decent CD (e.g., you might want to check > http://www.bankrate.com), but make sure the CD matures before you need the > money, or the "substantial penalty for early withdrawal" may undo any interest > benefits. > I would be hesitant to put needed money in some so-called money market accounts > offered by Ford or GMAC because those accounts are neither insured nor > diversified, investing exclusively in the debt of the credit granting arm of > that particular company. While both Ford and GM debt are currently "investment > quality", they are near the low end of the credit rating scale. Likewise, ABFS > savings account invests in ABFS-issued mortgages and loans to those with less > than steller credit ratings. > If it were my money and if it were absolutely essential that I don't lose that > money, I would stick to safe savings instruments. Actually, I do have a chunk > of cash in my credit union's money market account, some in a CD, and some in > United States Savings Bonds, but I do NOT recommend Savings Bonds in this case > because they cannot be redeemed for the first year of issue (unless your area > is declared a disaster area). > Mark A. Young |
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#-1
09-03-2003, 09:00 AM
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| Advice for short-term investment? Greetings: I received that wonderful advance tax refund from the Gov and have decided to sock it away in anticipation of having to give it right back come April. Any suggestions on how to get the most bang for my buck (or 1000 bucks in this case) over the next six months? CD? Money Market? TIA! Ben |
| Tags |
| advice, investment, shortterm |
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