| Hey-Jude |
Just wondering if any of the financial wizards out there have suggestions for how to invest a large sum of money (from the sale of a home) during the 3-4 months before the closing of a newly constructed home?
Obviously it's got to be a fairly safe investment as most of this money will go towards the new house.
Is there anything better than just a standard money market?
Thanks in advance!
( of course i toyed with the idea of throwing sum of it at the stock market with the alure of huge rewards....but i don't think the wife would like it too much if i put it all in XYZ and it tanks ..... but you know I'd be tempted with something extremely stable like pepsi, etc. ) |
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| nightguy |
Had mine in ING Direct (www.ingdirect.com) and Virtual Bank (www.virtualbank.com) It pays better than my local banks and better than CD's. I think ING is at 2% (APY) and VB is at 2.15% (APY). I knew I'd be buying a car with the dough, so why not make some money with it and keep it liquid ?
For the best money market rates, check www.bankrate.com I think both have bonus money for opening accounts, just make sure you can leave enough in your account for the required time period to collect the $$. Both got the money transferred into my local account within 2 business days to allow me to get a cashier's check for the car.
Almost forgot....I also used E-Trade Bank for a while. They had a nice opening bonus (I think $75) but started mixing up my account records with those of my father. His first name is my middle name. How in the world did they manage to screw that up ? |
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| luvdodo |
I ususally reach out to the free service provided by www.allexperts.com. You can find a few financial/investment consultants there who can guide you neat 'n' tidy. Their response is good and pretty fast too.
[OR]
We, on acuramdx.org, are ready to share it into our wallets :1:
:D |
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| Robyjo |
| Two words--or actually one word and an acronym--Google IPO. (You'll have to hold on to it for a bit though...) |
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| cp_ssrebba |
| transfer the money to different country where the dollar is strong. transfer back when its weak. some risk though. |
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| Hey-Jude |
Thanks all....
I'll check the rates on those links nightguy.
Robyjo... yes I thought about Google. Not sure when that's going to happen though .... have to keep an eye on it. Would only bid a really low amount though.... that sucker could sink like a stone on the 1st day of trading and I won't have the luxury of waiting it out if it takes a while to spring back.
cs... i wouldn't have the first clue about moving it out of the country....sounds kind of scary. isn't there some kind of Nigeria windfall scam? :) j/k .... i'm sure you're talking about perfectly legitimate currency hedging or something over my head but not in my comfort zone.
or i could blow 35k of it on a new TL and then borrow that much more on the new mortgage..... hmmm... now that's sounds like some good thinking!
Thanks again all! |
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