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Old     (alanp)      Join Date: Apr 2001       05-08-2012, 4:31 PM Reply   
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?
Old     (ottog1979)      Join Date: Apr 2007       05-08-2012, 4:49 PM Reply   
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.
Old     (phatboypimp)      Join Date: Apr 2005       05-08-2012, 8:02 PM Reply   
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).
Old     (phatboypimp)      Join Date: Apr 2005       05-08-2012, 8:02 PM Reply   
Have you thought about investing it in a boat? lol
Old     (kenv)      Join Date: May 2002       05-08-2012, 8:58 PM Reply   
Buy 60K worth of EOG.......
Old     (jason_ssr)      Join Date: Apr 2001       05-09-2012, 5:09 AM Reply   
start your own health drink MLM scam?
Old     (psudy)      Join Date: Dec 2003       05-09-2012, 6:56 AM Reply   
Greek Bonds.
Old     (sidekicknicholas)      Join Date: Mar 2007       05-09-2012, 9:38 AM Reply   
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

Last edited by sidekicknicholas; 05-09-2012 at 9:40 AM.
Old     (95sn)      Join Date: Sep 2005       05-09-2012, 9:54 AM Reply
1%=no risk, no return
Old     (migs)      Join Date: Aug 2006 Location: SF Bay Area       05-09-2012, 10:24 AM Reply   
Put all 60K on FB when the IPO is out. Sell it in 6months.
Old     (ottog1979)      Join Date: Apr 2007       05-09-2012, 10:28 AM Reply   
^^ Basically 1% annually, 0.50% for 6 months = $300.
Old     (jarrod)      Join Date: May 2003       05-09-2012, 12:05 PM Reply   
Miguel beat me to it. Buy FB stock at Pre IPO and pray!
Old     (psudy)      Join Date: Dec 2003       05-09-2012, 12:34 PM Reply   
Old     (stephan)      Join Date: Nov 2002       05-09-2012, 1:29 PM Reply   
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!!
Old     (polarbill)      Join Date: Jun 2003       05-09-2012, 3:52 PM Reply   
You could just flip a couple bricks.
Old     (ScottR)      Join Date: Aug 2011       05-10-2012, 9:38 AM Reply   
^^^^ ha
Old     (humboldt9)      Join Date: Jun 2004       05-10-2012, 8:53 PM Reply   
Short JPM...
Old     (alanp)      Join Date: Apr 2001       05-11-2012, 5:07 AM Reply   
ok ill just hold on to it.
Old     (shredthagnar)      Join Date: Oct 2011       05-11-2012, 5:11 AM Reply   
Love nicks comment!


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