(Closed) Investment savvy bees – what’s the best & safest return on 10K chunks?

posted 7 years ago in Money
Post # 3
913 posts
Busy bee
  • Wedding: April 2014

For low risk and high return your best bet is probably a rewards checking account, but you have to jump through a few hoops to get the best returns.

Post # 4
127 posts
Blushing bee
  • Wedding: October 2012

Ally is offering a traditional 5 year CD with an APY of 1.79% which is pretty good. US Bank has a 5 year at 2.25% APY which is way better. Both are very safe options. You may want to sit down with a financial advisor who can go over the best and safest ways to make money grow.

Post # 5
5295 posts
Bee Keeper
  • Wedding: January 1993

@oracle:  Darling Husband and I were just talking about this the other day…curious to read some responses!

Post # 6
1271 posts
Bumble bee
  • Wedding: June 2012

I would put it into the highest interest CD you can find.  I bank at a local credit union and USAA, which both have good returns.

Post # 7
14661 posts
Honey Beekeeper
  • Wedding: June 2011

Honestly, I would look into some sort of managed portfoilio or mutual funds.  I know Bank of America has some managed portfoilios that start at 50k minimum, but I’m not sure what they or anyone else might have for smaller balances.   I know it sounds risky, but to put it in perspective, I started investing right around the peak of the market at 2007.  I took a huge dive during the crash  and was down about 35% but have since recovered and up about 20%.  Meanwhile the market is not even quite back to those levels yet. The only problem is that if you it doesnt take a dive again you’d have to be able to wait it out a bit, which I guess may not be ideal for you.

Post # 8
3081 posts
Sugar bee
  • Wedding: August 2012

Because the interest rates are so low and you can borrow “practically for free”, that unfortunately means that for those of us trying to save, it’s nearly impossible to get a good savings rate. 

ING has a comparably good savings account, but other than risky investments your best bet for a relatively decent return would be investing in long-term CDs at your bank or local credit union. 

It’s such a great time to buy because you can get so much, but for those of us who just aren’t ready or don’t have the savings for the down payment, it’s tough! 

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