Comments:
08/12/2009 08:53 - The World of High Finance
Alright, friends, Stanley Spadowski wrote in with a special request. Since Goldman Sachs, Lehman Brothers, Bear Stearns, and Citibank have all proven themselves untrustworthy, the only place to turn to for financial advice is a website dedicated to self-urination and Brewers
baseball. Makes sense.
Here's the sitch from Stanley: "I have a nice chunk of change that I don't need right now but will want available in about a year. Let's call it 30 large. So the question is, what should I do with this money for the next year? Something safe but that will get a little bit better return that just sitting in my bank's money market savings
account, which gets about 0.5%. I'm not looking to make a killing with a stock pick, which could go up 20k or down 20k. But it would be nice to keep up or even beat inflation a bit. So what are the options? T-Bills? Bonds? Loans for the Grameen Bank? Don Lapre's classified ads?
I need everybody's help."
Come on, PYPers, you're a smart bunch. What can we come up with for Stanley? This community is so much more than baseball. Oh, by the way, the Brewers really do stink with an absolutely embarrassing loss. Will that knock some sense into them?
08/12/2009 09:15 - Greg P
Is it too late to put the money on a futures bet in Vegas that the Brewers will not make the playoffs this year?
08/12/2009 10:56 - Stanley Spadowski
I need some help, guys. This is serious!
08/12/2009 10:59 - Markmotown
I'd put it in a 6-month CD that you can re-up every three or six months. If you need it, you can cash it out relatively painlessly, and if you want to leave it in longer, all the more money for you--plus it'll let you beat inflation. Or if CDs aren't your thing, investing in collectable vinyl, or even 8-tracks are always an option. Harder to get your money out that way, though.
08/12/2009 14:36 - Markmotown
Hi, Bill Hall: Thanks for that two-run bomb last night. Unfortunately, it was not enough to win the game, or save your job. Maybe if it was a 9-run blast, that'd be a different story. I hear that you are a bit choked-up about it--to tell you the truth, I am too. But the difference between you and me is that I get paid nothing for not playing for the Brewers, you get $11 million to do the very same thing. God speed.
08/12/2009 16:59 - Benclark
Have you looked into HSBC's Direct Online Savings? It's totally liquid and has one of the better return rates for savings accounts (it used to be around 5% before the world imploded...now's it's much lower...won't necessarily beat inflation but it's safe and much better than a money market).
08/12/2009 18:26 - Stay Strongs
Try clarkhoward.com for advice. What do I know - I thought the Brewers were gonna win the World Series this year. . . . .
08/12/2009 20:01 - Stanley Spadowski
Guys, I appreciate the advice. Keep 'em coming. We've got a tight game tonight. Maybe the big shake up will turn things around.
08/12/2009 22:56 - Ray
Personally, I’ve always had faith in Mutual Funds – especially Tech Funds. One investment back when I was 16 of a few grand inheritance was enough to put me through college. Sure, I took a hit when the bottom fell out last year but now my funds are only about 8 dollars a share away from where they were in ’07. Just find a well managed fund with a good record and you’ll do fine.
08/13/2009 08:25 - connie
What you invest in should be determined by how soon you need the money. Because you need it in about a year, the stock market (including mutual funds) s not the correct place due to market fluctuations. (This rule applies no matter what the economic climate is at the time...) So online savings (hsbc always has higher rates than ing) or laddered 6-month CDs would work.
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