Beside CD in the bank, the best place to put my money to get higher return?

Question

I have surplus of of cash that I am not going to use in the next ten years at least, I put the money in Bank CDs, but the interest rates are too low. If any body knows an almost as safe as the bank, but earning much higher interest rate investment that I may consider ? How I can buy these financial instruments ? Are they safe ?

Answer 1

You have to pay for the higher return with higher risk. So what you want doesn't exist. With a 10 year time frame, you should invest in index mutual funds. They have a much higher historical rate of return than money markets and CDs. But they are also risky.

Answer 2

For the past  several years I have put my money in the Franklin Income Fund and it has proven to be a safe, solid mutual fund.  If you are interested you should look up Franklin Funds and ask for a prospectus .  It is a load fund so you will have to have a broker buy it for you but I have never been sorry.