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Looking for some financial advice from all you gurus out there...

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SKKY Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-12-05 06:03 PM
Original message
Looking for some financial advice from all you gurus out there...
Here's the situation. I'm going to be looking at purchasing a house in about 6-7 years time, and wanted to get some advice on what would be the best place to stash the savings I'll use for the down payment that will give me the best return. I've got a decent chunk already, and will add to that monthly. I don't mind a bit of risk, but I'm not what some might consider "aggressive". What would you guys do in my situation?
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GOPisEvil Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-12-05 06:04 PM
Response to Original message
1. Certificates of Deposit or money market accounts are a decent bet.
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MrMonk Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-12-05 06:06 PM
Response to Original message
2. Stay away from Treasury Notes
I hear that they're just worthless IOUs.
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Mrs_Beastman Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-12-05 06:06 PM
Response to Original message
3. CD
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Nite Owl Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-12-05 06:08 PM
Response to Original message
4. If you go for the CD's
look at www.everbank.com for good rates. Don't take any chances with the money unless you know what you are doing and have ample time to watch.
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BillZBubb Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-12-05 06:09 PM
Response to Original message
5. The investment outlook isn't really positive.
Here's a good, low risk idea for you to consider:
http://www.chron.com/cs/CDA/ssistory.mpl/business/3174447

Best of luck with whatever you try!
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orwell Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-12-05 06:12 PM
Response to Original message
6. Combo
As interest rates rise buy CD's or check out ING Orange Savings Acct...very good rates and no lock in on your money. You can sign up online and can transfer money between the savings acct and your checking acct.

As interest rates fall...buy an intermediate term bond fund.

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ayeshahaqqiqa Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-12-05 06:21 PM
Response to Original message
7. from a guru's perspective
one doesn't invest in maya but in the treasures of the soul.

Om Shanti Shanti Shanti
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democracyindanger Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-12-05 06:22 PM
Response to Original message
8. Money market in a credit union
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