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-   -   fastest way to grow 60k in 6ish months (http://www.wakeworld.com/forum/showthread.php?t=793261)

alanp 05-08-2012 4:31 PM

fastest way to grow 60k in 6ish months
 
i have about 60k laying around that will be partial down payment on a house. its just sitting in savings not really doing anything. any recommendations what to do with it for the next 6ish months before i need it?

ottog1979 05-08-2012 4:49 PM

Not if you don't want to risk principal. Buying a 6-9 mo CD may pay a bit more but we are literally talking only a few bucks.

phatboypimp 05-08-2012 8:02 PM

Agreed...with how low interest rates are there is very little to do especially with a six month window. I would look into ING Direct savings account but I don't know what kind of limitations they have (if any).

phatboypimp 05-08-2012 8:02 PM

Have you thought about investing it in a boat? lol

kenv 05-08-2012 8:58 PM

Buy 60K worth of EOG.......

jason_ssr 05-09-2012 5:09 AM

start your own health drink MLM scam?

psudy 05-09-2012 6:56 AM

Greek Bonds.

sidekicknicholas 05-09-2012 9:38 AM

Fastest way is the casino .... throw 30k on Red and hope for the best.

I know there are a few checking acounts with 3.xx% interest up to 10k, could open a few of those, but not sure when they compound, otherwise for safety sake I think CD might be the best bet

95sn 05-09-2012 9:54 AM

http://www.bankrate.com/funnel/cd-in..._default_CD_V1
1%=no risk, no return

migs 05-09-2012 10:24 AM

Put all 60K on FB when the IPO is out. Sell it in 6months.

ottog1979 05-09-2012 10:28 AM

^^ Basically 1% annually, 0.50% for 6 months = $300.

jarrod 05-09-2012 12:05 PM

Miguel beat me to it. Buy FB stock at Pre IPO and pray!

psudy 05-09-2012 12:34 PM

Powerball.

stephan 05-09-2012 1:29 PM

As others have said, your priority now should be preservation of principal. Even if you were to secure a return of 15% your annualized gain would only be $4,500. That dollar amount is not worth the risk of eroding your purchasing power.

I get clients with this question all the time. Simply put, making $ on the markets etc is all about time and making good choices. In this case you don't have much time and if you make the wrong choice that lack of time will hurt a hell of a lot. Not worth it!!

polarbill 05-09-2012 3:52 PM

You could just flip a couple bricks.

ScottR 05-10-2012 9:38 AM

^^^^ ha

humboldt9 05-10-2012 8:53 PM

Short JPM...

alanp 05-11-2012 5:07 AM

ok ill just hold on to it.

shredthagnar 05-11-2012 5:11 AM

Love nicks comment!


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