October 10, 2009

Where Should I invest My MSN Money?

In these daunting economic times, it's hard for anything to seem safe and certain in the financial world. So after I read the expert advice on MSN.com, where should I invest my money?

I'll skip the obvious jokes, that you should probably invest MIcrosoft money in things like virus protection software, and just give some concise advice on the best investment strategies, as provided by bankaholic:

1. Open money market / high interest savings accounts - minium balance required, but safe short-term profit.

2. Treasuries - fully backed by the government (for whatever that's worth nowadays).

3.Certificates of Deposit. - Guaranteed safe by your bank (for whatever that's worth nowadays). You'll have to pay heavy for early withdrawal.

4. 401k Plans -
If your employer offers a 401k plan then you'd be wise to invest in it. This is your money that you put in on a pre-tax basis. Within your plan you can choose what funds you want to invest in. Whether you're willing to assume risk or need stable funds you'll find them in your overall plan.

5. Mutual funds - a little risky and brings extra fees but can be good profit.

6. Savings bonds - not much return, but no risk either

For more detailed breakdown, see the link below:

Where Should I invest My MSN Money?

With the stock market in such a volatile state these days, it's tempting to dig a hole in your backyard and bury your savings. This way you'd at least know where your money is at all times and how it's performing for you...

Where Should I invest My MSN Money?

Posted at October 10, 2009 2:13 PM

B of A has a program for people over 65 to deposit up to $250K into a CD IRA earning compounded interest, that can be withdrawn early with no penalties. As of Sept 09 it was earning 3.25% and can be renewed at a higher rate (once per year) if rates have gone up. FDIC insured up to $250K.

Posted by: skip at December 4, 2009 11:15 AM

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