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Travel Budget, Money Matters, Financial Talk Mom, can I borrow ten grand?! Gimme yo mastercard! How the heck can I pay for my trip?! Ideas for making money. How much dough do I need?

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Old 12-28-2007, 08:44 AM   #1
 
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Default 12 month investment ideas?

So I'll probably have an influx of money, and will have 12 months before i need to use it. Would it be smart to just put it in a CD or savings account and get some sort of return, or get into stocks(online game I'm +46% for the year).

I'll have probably $2000 or what it costs for me to fly to Perth Australia next December/Jan. If I could get even 5% back, that would be huge.

Any ideas?
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Old 12-28-2007, 09:26 AM   #2
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If you are just doing a year, a CD is a good idea. Especially because you definitely need your money back in 12 months to pay for that plane ticket (Just keep in mind with a CD you'll be locked in until it matures so if you find a great deal on airfare in September you might be screwed).

You can get a 12 month CD through ING direct for 4.7%. They also offer a 9 month CD for the same rate. I do not believe there is a minimum on their accounts. That is a lot better than the CD rates I looked up for Indiana on Bankrate.com.
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Old 12-28-2007, 12:01 PM   #3
 
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If you are just doing a year, a CD is a good idea. Especially because you definitely need your money back in 12 months to pay for that plane ticket (Just keep in mind with a CD you'll be locked in until it matures so if you find a great deal on airfare in September you might be screwed).

You can get a 12 month CD through ING direct for 4.7%. They also offer a 9 month CD for the same rate. I do not believe there is a minimum on their accounts. That is a lot better than the CD rates I looked up for Indiana on Bankrate.com.

Thanks for the advice. So far I'm definitely thinking the CD is the right way to go. It's to bad I didn't have this influx even last year when Apple was at 80 a share . Although its still tempting to dump my cash into that stock.

So whats the difference between at 9month and 12month at the same rate? Would the 9 month pay the same in a sorter period of time, is that how it works? I never really understood CD's.
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Old 12-28-2007, 12:44 PM   #4
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No, the 9 month would pay less money out because its for less time. I only offered it up in case you wanted to get at the money before the 12 month period is over.

Basically at 4.7%, $2,000 will become $2,072 dollars in 9 months. Yeah, only gaining you $72 dollars. Not that much. Waiting it out for a year wil give you $2,096 (another $24).

So yeah, these aren't ideal for real savings, but they are guaranteed. Also, most CDs work on the idea that people have a sum of money that may need to protect for use in the future but want it to grow somewhat instead of hiding it under their mattress. You are locked into your rate when you sign up and keep that rate the remainder of the deposit time, no matter if rate averages go up or down.

Check http://www.fools.com for more information on all financial matters explained in simple terms.
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Old 02-11-2008, 10:18 PM   #5
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I would rock ING Direct. Just under 4%, and extremely liquid-able (<24 hours).
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Old 02-12-2008, 01:06 AM   #6
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ING's orange savings and electric orange accts offer a 3.9% interest. maybe more. these are not CDs accounts, so you can take your money at any time. unlike a CD, this is not a guaranteed rate so it will change. anyone with $ they'd like to keep in savings should have the ing orange savings.
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Old 02-12-2008, 01:13 AM   #7
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if you're looking for 5% or more return you might think about riskier investing, ie mutual funds. many of them boast an annual rtrn rate of 20%. managed funds are much safer. keep in mind these funds are made for long term investing, and long term, you will most likely gain 20% or more. short term, no guarantees of anything, but its rare that you'll loose a substantial amt as compared to investing in indiv stocks.
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Old 10-06-2008, 02:22 PM   #8
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Funny, 7 months later and things are really sliding downhill, and I think will be for several years to come. Anyone have better advice than what I offered?
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Old 10-06-2008, 03:11 PM   #9
 
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Well the savings account idea is still probably king. You are backed via FDIC, and even though 4-5% isn't much, its better than nothing.
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Old 10-06-2008, 05:32 PM   #10
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Well if you dont need the money for a little while the CD is a better deal. Their savings account is not at 3% whereas the 9 month CD is at 3.75% and the 12-month CD is 4.25%. So it would be a little more and you'd be locked as opposed the chance their savings account yield could go down.
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Old 10-06-2008, 06:28 PM   #11
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Have you thought about putting your $$ in a Term Deposit or on call account for the country your going to? I don't even know if it is possible but I know our interest rate is a heck of a lot better than in the states at the moment - we are at 8.50% for on call savings accounts- although I imagine it will start going down soon. I imagine that OZ is pretty similar to us... Just an idea
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Old 10-07-2008, 10:40 AM   #12
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Question

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Originally Posted by SGRHewitt View Post
stocks(online game I'm +46% for the year).
Considering the market as a whole has tanked about 35%, that's PRETTY DAMN IMPRESSIVE!

What you got in your portfolio?
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Old 10-07-2008, 11:30 AM   #13
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I think that I'll be buying some put options in the next month or so. Remember the old addage "the trend is your friend" so no point in fighting it when it comes to stock picks.

Apple has a serious downward trend on high volume so it looks like buying put options (betting it will keep going down to a certain point) is the safe play for me.

Others like GRMN, Goog, bidu, etc...
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Old 10-16-2008, 11:08 PM   #14
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My most recent purchases are Ford (F) and Realty Income (O). Ford cause quite frankly it's cheap, and Realty Income cause it pays a nice monthly dividend for a REIT. $.1411/share/month @ ~$21/share.

For a safe place for money, ING Orange checking or savings, a CD, or if you can find a money market that offers a good rate anymore. I used to keep money in paypal cause their money market paid over 5%, but I don't think it does anymore.
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Old 10-17-2008, 06:52 AM   #15
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a very safe option are Tbills and TIPS(they adjust to inflation). With the market looking like a roller coaster ride, investing in a government secured options...isnt too bad right now
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