The Mortgage Encyclopedia : The Authoritative Guide to Mortgage Programs, Practices, Prices and Pitfalls, Second Edition »

Best Way To Invest Money For One Year?

Question : Best Way To Invest Money For One Year?
I have about $ 6,000 cash right now. I need it in almost exactly 1 year. So, my question is;
Is there anyway of investing it (such as a CD or a savings account with tiered interest) that would be beneficial?

Thanks so much! I really do not understand all of the APY and tiered interest stuff on the bank websites, so I really need this help!
best way to invest money

Best answer:

Answer by Caveat Emptor
CD.

This entry was posted by admin on September 4, 2010 at 10:14 pm, and is filed under Investing. Follow any responses to this post through RSS 2.0.You can leave a response or trackback from your own site.

Comments (3)
Related Posts

#1 written by Mark 1 year ago

A CD, a savings account or a 52 week treasury bill.

Quote
#2 written by awesomepossum 1 year ago

not the easiest time to be profiting off your investments these days.

interest rates are so low right now that CDs, GICs, etc are almost pointless if you’re looking to make some money (you’d be looking @ 100 bucks tops for the yr).
But since the stock market outlook for the next yr is very uncertain your key priority seems to be capital preservation, locking into a CD might be a good idea. all tiered rate means is that the rate u get depends on how much u deposit.

OR put it into a savings account and if the market tanks anytime soon, buy apple.

Quote
#3 written by cainvest1 1 year ago

If you don’t need it for one year you can invest in a one year CD. Check bankrate.com for the best rates in your area. Ally Bank has the best national one year CD rate at 1.44%. At maturity you would earn $ 86.40.

If you need access to the money monthly divide it and build a CD ladder. $ 500 in 1 month, $ 500 in 2 month, etc. out to one year. When each CD matures roll it out 1 year or shorter if you need cash.

Quote
Comment Feed for this Post