2/3 Need advice on where to put cash for 1 to 2 years. I only have
maybe $50K (I'm not a rich old geezer like most of you). CD is
at an all time low. So is money market/savings. Gold? Silver?
Foreign investment? Don't tell me to buy a home, I need a job
for that.
\_ teak rainforests!
\_ If you are expecting to need it in the next 1 to 2 years, CDs
are the way to go. If this is your only cash (you don't have
six months of expenses saved up) then you probably want to keep
most of it in savings even. How do you plan to pay your bills
until you get a job?
\_ How safe is safe? At this point probably only deposits
(checking, savings, CDs) and US treasurys (you might look into
i-bonds or TIPS) have a high probability of no loss of
principal over the next 1-2 years.
\_ Just because you don't have a job, doesn't mean that you can't
invest it in realestate. I have a property that I'm about to
purchase which I need to go all cash in on...I can offer you 10%.
-scottyg
\_ If you're 100% sure that there's positive income, no
accidents, no renovations required, no eviction, etc, then
obviously you don't need a full time job. But everyone needs
some cushion, and 50K isn't a lot of cushion to do any real
estate transaction in California. It only takes one bad
tenant and 0 income to really screw your life up.
\_ No, I mean I will offer you 10% on a 1-2yr loan of 50k.
\_ IngDirect checking gives 2.2% if you have $50K. FDIC insured,
that's what I'd do.
\_ link:dollarsavingsdirect.com is still maintaining 3.5%
http://provident-direct.com is down again to 2.82%
\_ Gold is up 5-8% in the last 3 weeks
\_ http://www.bankrate.com/brm/safesound/thrftmm.asp?fedid=137915
I'll stick with ING, thanks.
\_ http://www.bankofinternet.com looks pretty good at 3.10% and ***
Sometimes I wonder about these outfits, if they will
maintain a good rate over time. There are some 5-star
banks on bankrate's list with better rates than ING.
I do wonder about a bank whose name is basically Engrish.
(bank of internet?) but apparently it's been around a while
\_ What do you really care as long as it's FDIC-insured?
In case you haven't noticed how bank failures are handled,
there is typically no interruption in availability of
funds, except maybe over the weekend.
\_ Not true in IndyMac's case. If you had $10K you'd get it
right away, but for larger amounts, they'd give you a
little upfront and then you had to wait for the rest.
\_ Gold
\_ heroin!
\_ ammo
\_ Ammo doesn't have good resale value.
\_ pre-owned ammo?
\_ when the zombies come.. ammo will be worth its weight in gold
\_ who said anything about selling it? yer supposed to give
it away, at high velocity... |
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