I have 20k sitting in a checking account I don't even use it...?

Question

Where's a good place to put this money with the current economic scenario? I know how to make money but don't know how to invest it. Thanks.

Answer 1

you should give it to me. ;)

Answer 2

you can invest in different companies (I would choose companies we cant live w/out products) such as diaper companies, toiletries, NIKE, alot of people dont think when investing stocks on the companies that actually make products we need

Answer 3

Do you know how long you can leave it invested?  That's one of the primary criteria for deciding how to invest.  (The second would probably be your tolerance for risk.)

If I assume for a moment that you might need the money in less than 3 years, then you could at least think about investing the money into CDs or money market funds.  For CDs, the longer you can lock the money up, the higher the interest rate, generally, whereas for money markets there is no fixed term.  Both are generally considered very low-risk.

Take a look at http://www.bankrate.com for a good overall look at CD and money market rates in order to get a good deal.

Answer 4

You might consider a "CD ladder".  Basically you put 1/12 of it into a 1-month CD, 1/12th into a 2-month CD, 1/12th into a 3-month CD, etc.  Then each time a CD matures, roll the money (plus its interest) into a 12-month CD.  That way, you'll be earning a somewhat respectable interest rate, but if you run into financial problems, you'll be able to look at the maturing CDs as up to a year's worth of small monthly paychecks.

Answer 5

Put 10k in a money market account for an emergency. 5k in a ira. the rest in mutual funds.

Answer 6

If its just sitting there, like you honostly dont spend a dime of it then I whould either do the following.

As a stock broker I advise you to invest it, find a trustworthy brokerage firm, and invest it all.

If you dont wana risk it, put it into a savings account. It will grow slowly but steady their.

Finaly you could always find some nice bonds you can invest in.

A GOOD PLACE TO INVEST RIGHT NOW IS THE MARKET. LOOK INTO ALOT OF STOCKS @ finance.yahoo.com

I AM TELLING YOU CAN DEFINATLY MAKE ALOT OF MONEY WITH THESE WILD WILD WEST MARKETS!

Answer 7

It depends on when you'll need it.  If you may need it within 5 years or so, just move it to a Money Market Account or staggered CD's or something like that.

Answer 8

Put it into a Mutual Fund that invests in Corporate Bonds.  Here's what you want:

1) Safety of your money

2) High yield

3) Flexibility

4) Convenience

Answer 9

im not an expert but i would put it in a savings account where it collects lots of interest. you are very lucky to have this kind of money just sitting around.

Answer 10

I would find a high cd and put it into that.

Answer 11

put 10k in a high yielding cd for 2 years and live on the other 10,watch ur cd deposit grow and reinvest it

Answer 12

Go find a reputable stock broker. I'm sure he can give you better advice. Good luck! I hope you become a billionaire!  

Answer 13

Come chill with my L*****n wife and myself for for a week.. I'm sure we could run through the whole thing for ya.  New York City baby... The city that never sleeps...  Grrrrrrr.. EVIL ****** GRINS....

Siren.