Best place to put in roughly $12000 for 6 months?

[thecoolnessrune]

Got about $12000 that I'm picking off of every 6 months (Was $25,000 2 years ago). Using it to pay off college debt as I accumulate it. Right now I've been using a CD at my local bank. The interest rate is now down 1.8%.

Any better options? The money would have to be guaranteed. This is working with my college future so I dont want it to touch anything risky. Needs to probably stay in the area of CD's and other such things. Is there anything out there that's going to give me a better rate than 1.8% that's equally secure?

 

[rudeguy]

give it to me. I can promise a 10% return.

 

[Mo0o]

could look into high interest checking if you're willing to spent tiny amounts each month

 

[edro]

6 months?
The most you can make is ~$180 @ 3%.

I don't think it would be worth messing with a CD.
I would do an online savings account like ING, Immigrant, etc.

Eww... INGDirect is 1.5% right now.

 

[cKGunslinger]

Isn't inflation right now is like 0.2%? Is 1.8% really that bad?

I'm assuming that you've paid off high-interest debts?

 

[Jeff7]

Originally posted by: NSFW
give it to me. I can promise a 10% return.

Bernie Madoff, is that you?

Originally posted by: edro
6 months?
The most you can make is ~$180 @ 3%.

I don't think it would be worth messing with a CD.
I would do an online savings account like ING, Immigrant, etc.

Eww... INGDirect is 1.5% right now.

:shocked:

Wow, makes me wish I'd had any money available a few years ago when they were >5%.

 

[Baked]

Multi-State Lottery.

 

[thecoolnessrune]

Originally posted by: cKGunslinger
Isn't inflation right now is like 0.2%? Is 1.8% really that bad?

I'm assuming that you've paid off high-interest debts?

I use the money to keep myself completely debt free. I work part time and only make roughly $5,000 a year. The rest of income is Veterans Benefits, HOPE scholarship, and PELL grant. The 12,000 now is the remainder of a large sum of money our mother left us when she died. another $25000 is in a 4 year investment earning 9%. The other $25000 has been used directly to pay off any and all debt including food, tuition, apartment, flights to my SO in my LDR, and helping out my grandparents.

I pull out about $8-10,000 a year to help cover all this (4-5,000 ever 6 months). I keep the rest in a CD to earn interest. I'm a college student. Money is money to me. I wouldn't turn down even $100. If I'm not using it I want it to try to make more money.

What exactly is high interest checking? I'm afraid I've never heard of it..

 

[xSauronx]

Originally posted by: thecoolnessrune
Money is money to me. I wouldn't turn down even $100. If I'm not using it I want it to try to make more money.

oh then you need to jump into dealing drugs. im told theres loads of money in that.

 

[waffleironhead]

Originally posted by: NSFW
give it to me. I can promise a 10% return.

I can as well, after pocketing the other 90% I will gladly return your other 10%.

 

[SSSnail]

Originally posted by: NSFW
give it to me. I can promise a 10% return.

I can do better than that, 20%.

 

[thecoolnessrune]

Originally posted by: xSauronx

Originally posted by: thecoolnessrune
Money is money to me. I wouldn't turn down even $100. If I'm not using it I want it to try to make more money.

oh then you need to jump into dealing drugs. im told theres loads of money in that.

I'm half black and half white. The white dealers dont think im white enough and the black dealers dont think I'm black enough.. The latino dealers just dont like me..

Friends dont know whether or not to consider me the white Wayne Brady or the black Brian Gumbel

 

[Exterous]

Originally posted by: SSSnail

Originally posted by: NSFW
give it to me. I can promise a 10% return.

I can do better than that, 20%.

20.012% here

 

[KentState]

If you want a higher return than a cd or money market, you will have to take some risks. If you invested in Apple for example starting in January, you would have made 40% on that money. If the market keeps going up, any of the blue chip stocks will yield a decent return.

 

[kranky]

Look on bankrate.com for the highest yielding CDs. Also check fatwallet.com Finance forum for info on high interest checking accounts. But those typically come with a lot of fine print (must do 12 debit transactions per month, etc.)

Those are your choices given the money must be guaranteed and you need it in 6 months.

 

[Lurknomore]

Bet on whatever Calvin Borel rides on in the Belmont

 

[deftron]

World Series of Poker buy-in

 

[TwiceOver]

I would probably put 65% into hookers and the other 35% into blow.

 

[Boo Boo]

bonds

 

[miketheidiot]

municipal bonds

 

[JasonCoder]

Originally posted by: miketheidiot
municipal bonds

More love for tax free munis. Honestly, a quick chat with a financial advisor or broker that is clear that you're not there to buy any products may help you. They'd probably be able to set you up with some nice munis.

 

[kranky]

Let's see... there's a commission to be paid when buying munis, and another to be paid when selling, and the risk of loss of capital.

So how is that a good suggestion for an investment that must be guaranteed and will be needed in 6 months?

 

[SearchMaster]

Originally posted by: TwiceOver
I would probably put 65% into hookers and the other 35% into blow.

Excellent diversification strategy IMHO. Cheap blow >>>>> cheap hookers, so a 65/35 split like you recommend yields the optimal ROI.