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The Almighty Buck

+ - What Would You Do With $10000? 8

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An anonymous reader writes "I have a US$10000 certificate of deposit which has recently reached maturity. Having no immediate need for this money, I was wondering if Slashdot readers had any suggestions regarding how I could invest this money in order to get the best rates of return possible. I'm looking for something I can deposit this money into with a guaranteed relatively high rate of return. Any suggestions for this geek with newfound income?"
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What Would You Do With $10000?

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  • Ten thousand doesn't even tip the parking attendant.
    • If you want the money to be liquid, a way to continue to earn interest would be to put it in a high-yield savings account. (ING has one @ 4.5% APY, although there are some other companies who have higher rates) Alternatively, you can put the money into rolling bonds. The key is deciding when you need the money. If you'd like to have it on hand, go with the high-interest savings bond. If you need it in the not-so-near future, go for the rolling bonds. If you are looking for long-term gains, go with stocks.
  • Head over to the forums at fatwallet.com and do some research on the high interest online savings accounts. Most approach CD rates or surpass them, but you can get to your money easy. ING is the one of the oldest in the business and have a terrific interface and descent interest rate. However, the newcomers such as AmBoy, Virtual Bank, and even some old time brick and mortar banks such as CitiBank and HSBC are offering higher interest rates and some have descent sign up bonuses as well. If you don't want
  • If you were pretty happy with how having your money in a CD worked out for you, put it back into one. The longer term, the better interest rate you'll get. Otherwise decide what you didn't like and adjust accordingly. If you didn't like having your money locked away, you can use a savings account, but will make less money. Or if you are looking for a greater return, you can go with stocks or mutual funds, which have the potential to pay off more than the CD's predetermined yield, but also involve a lot

Murphy's Law, that brash proletarian restatement of Godel's Theorem. -- Thomas Pynchon, "Gravity's Rainbow"

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