Is it a mistake to have 140,000 in the bank and not in some other type of invesment?

Question

like is now the time to buy real estate, or other options???

Answer 1

Accounts are normally only FDIC insured for $100,000, and a lot of banks are in trouble, so split the money up into two banks.  Check bankrate.com for the best CD rates.  Although there are bargains in real estate, it's not for everyone.  If you are talking about buying a personal home, make sure you do your homework.  If you are talking about becoming a landlord, it's hard work.  Don't put all your eggs in one basket.  Good luck.

Answer 2

At the very least try and put some of that money into a high-interest deposit account, with maybe 7 or 8% interest per year. Otherwise you can also start looking at buying shares or properties

Answer 3

Contact Suze Orman. I believe she has a website as well as a television show. She'll know. She knows everything.

Answer 4

That depends... Could you afford to loose that money?

Buying Real Estate could be a good investment if you buy a property in a short sale for a price that is equal to prices in early 2000 2003. I think the property values will keep dropping for another 2 years.

So again if you can afford to gamble the money i think you could find a better investment than Real Estate.

I could give you some deeper insight if you want to contact me.

Otherwise keep the money in a bank in accounts lower that 100 thousand to keep with the FDIC guarantee

Answer 5

Not necessarily, but unless this is a joint account, you're over the FDIC limits. I'd keep it under $100,000 per bank ($200,000 if joint).