Comments | 24 Responses

  1. alex says

    Microplace is a microlending site that is owned by Paypal/ebay and offers investments of varying amounts, terms, and rates. It’s similar to kiva, except its an actual investment.

    • Jeff Rose says

      @ Alex. Interesting. I wasn’t aware of them. I’ll definitely have to check out to see if they are a sold option for short term investing.

      Thanks for sharing!

  2. says

    I stick with ING direct for my short term emergency money. I can get to it fast enough and although interest rates in general aren’t very high right now I know my money is safe should I need it.

    • Jeff Rose says

      When it comes to short term investing, safety is the key!

      I’ve had numerous clients complain that they aren’t making any money in their savings accounts and want to explore other options. I quickly remind them that they aren’t losing money, which is that much more important.

  3. says

    I don’t really have any short term investing right now. Just some money in 2 savings account. One for buildingup an emergency fund and the other for our “home ownership” fund. It was the account we were saving for a deposit, but now that we’ve bought, what gets put in there is for maintence and repairs.

    When I do have extra cash laying around, I do want to give P2P lending a shot.

  4. says

    I appreciate how thorough this list is. It’s also good to think of high interest debt being paid off as an investment. Saving doesn’t have quite the thrill of investing but both need to be taken into account.

  5. Dan says

    Series I savings bonds make a good home for your emergency fund. It requires some patience, since they won’t function as an emergency fund during the first year, when the bonds can’t be sold. But, for the subsequent 29 years, your money is easily accessible and keeping up with inflation.

      • Dan says

        Savings bonds can be purchased in two ways: (1) Treasury Direct and (2) using your federal tax refund.

        (1) After creating a Treasury Direct account at http://www.treasurydirect.gov, you can purchase up to $10,000 per year (per social security number).

        (2) When filing your federal tax return, if you are due a refund, you can direct the IRS to issue the refund as Series I Savings Bonds. You can elect up to $5,000 per tax return.

  6. says

    Jeff, Love the video and the article. Have about 2% of our families net worth in Lending Club and Prosper. Also, like Dan mentioned, put as much as possibli into Govt I bonds. (10K max per year per person + 5K from tax refund). (Sorry we didn’t talk more at Fincon :) )

  7. Harold says

    Hello Jeff. I have recently becaome uneomployed. I have a small 401 savings plan with my former company as well a pension. I want access to the money to start my own business. I am 37 years old. I am trying to avoid as much penalty as possible. is it possible to put these(roll) accounts into an IRA or CD (IRA CD) etc…( or any other method) strategically so as to minimize taxes and penalties?
    thanks!
    Best regards ,
    Harold

  8. Angel says

    Hi Jeff,

    I have been taking my money out of the bank and just holding onto it to pay for a house or what not. I’m up to about $70k, but am looking for a high yield short term investment.

    I’ve been looking at oil and natural gas stocks. While you have suggested stocks are not the best way to go, I’d like something I can get a return on within 3-6 months and then be able to evaluate and get my money out quick (and back in my hands) if things start to dip. I have no idea if it’s better to invest in metals or other options as I’m not to keen on bank or government funded returns.

    What’s your thought for the best route???

    • says

      @ Angel “Short term” and “stocks” don’t mix, especially for a short-term investment. Park it a savings account so you don’t lose anything.

  9. LS14EVR says

    Hello, I have roughly $50K that I’m looking to do more with than just have sit in my CapitalOne360 which like you said is safe and earns a little. Been with them forever. However I’m looking to make a large purchase in roughly 1-3 years. What do you recommend?

    • says

      @ LS14EVR With a 1-3 year timeline, I don’t think I would do much more with it other than your Capital One 360 account or a 1-3 year CD. I know interest rates are low right now but you don’t want to take any unnecessary risk.

      If it’s longer than 3 years, you could consider Prosper or Lending Club.

      • LS14EVR says

        Thank you for your response, that is very helpful. Kind of what I thought I should do based on your’s and others opinions and feedback.

  10. Ken says

    I have about $25K that I plan to use for a down payment for a home in the next 6 – 24 months and also about $8K in emergency funding I plan to keep until something comes up. What is my best play? Thanks!!!

    • says

      @ Ken In a savings account, period. (maybe a CD) You won’t make anything but it’s better than losing your principal. I would setup an account with Capital One 360 or find a local bank that has a special promo on short term money.

  11. jimmy says

    Hello Jeff,

    What do you think about investing in bitcoin? I just started researching on the internet and it seems like it is booming. The only thing is one bitcoin is about $650.00.

    Thanks,
    Jimmy

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