I have $12,000 from insurance, and want to invest it for a month.. Whats the best option?

Question

I just got $12000 from insurance, and want to invest it into something for 30-60 days, will be buying a car in a couple months. What is the best thing to invest in? GIC's pay barely anything, but Im not sure what a better option is...

Please advise

Thanks

Answer 1

call enron and ask 'em

Answer 2

Give it to some Nigerians who need help getting millions out of a bank. They will give you half of the millions in exchange for your help.

Answer 3

If you need it and don't want to risk losing it a FDIC insure CD is your only option.

Answer 4

You should keep the money safe from risk since you plan on using it very soon.  This results in your options being pretty limited and low-yield.  

Look for a very high interest rate on a savings account at a local bank.  Your money will be safe and very easy to access with this option.  

Sorry I can't pass on any great investment tips - I guess my best tip is to not invest money that you plan on using or needing right away.  You never know when an investment is going to turn in the wrong direction!

Answer 5

your only smart option would be pay off any debt with that money (that would save you money in the long run with interest) and keep the rest in a savings account since you need it soon

Answer 6

IM ONLY A KID!

Answer 7

Putting money somewhere for 30-60 days is not investing. Put it in a high interest savings account like ING Direct.

Answer 8

Government notes..... Like bonds but shorter

Answer 9

stocks.

Answer 10

Your best bet is a 2 or 3 month CD ( certificate of deposit )

Just go to the bank you have your other money in and ask about a CD for the amount you have for between one and three months and compare intrest rates vs. time and pick one.

Then when it matures you will have money for your car plus a bit more. The most intrest you will get is between 1 and 3%.