College Investing

Bradlays · #1 09-11-2007, 06:13 PM

I am about to receive an amount of cash to put towards college and I was wondering where the best place to store it is. The obvious answer is a savings account but in taking this option I would receive a small interest rate of maybe 1%, if that. Is there a safe option to invest the money in for a small period of time? or is there a certain place that offers higher interest rates in saving accounts? I do realize I won't make a lot of money in doing this but I figure there has to be a better option than a 1% interest rate and a 5 dollar service fee.

I like this forum and I feel I will visit it quite a bit so please do not feel you are waisting your time with answering. I will definitely respond.

Jaun22 · #2 10-31-2007, 12:58 PM

I would go the savings account way. I mean you will need the money to be accessible for ling term investments are out.

Mike Tompson · #3 06-25-2009, 10:24 AM

You haven't spoken of your time constrains. But for the fact of investing Government bond and securities are my favorite. I think they provide a fair value.

Adviser_Henko · #4 09-01-2009, 12:57 AM

One option available at your local bank is a certificate of deposit (CD). CDs are also insured by the FDIC up to the $250,000 maximum per customer per bank, and they have higher rates of interest than savings accounts. However, the funds invested in a CD, usually a minimum of $500 to $1,000, are not available to you for a specific period of time, typically six months to two years. The longer the funds are tied up, the higher your interest rate. Early withdrawal results in a stiff financial penalty.

kenyantykoon · #5 09-06-2009, 03:05 AM

i agree with juan22 in that you should save it if you are not versed in investments and entrepreneurship(and have an aversion for risk)

rlewis01 · #6 09-18-2009, 01:09 PM

I think it's a great idea for you to put money away BEFORE college. Would have been a good idea for me...

knight001 · #7 01-09-2010, 12:53 PM

Quote:

Originally Posted by Bradlays

I am about to receive an amount of cash to put towards college and I was wondering where the best place to store it is. The obvious answer is a savings account but in taking this option I would receive a small interest rate of maybe 1%, if that. Is there a safe option to invest the money in for a small period of time? or is there a certain place that offers higher interest rates in saving accounts? I do realize I won't make a lot of money in doing this but I figure there has to be a better option than a 1% interest rate and a 5 dollar service fee.

I like this forum and I feel I will visit it quite a bit so please do not feel you are waisting your time with answering. I will definitely respond.

I depends you wanna take risk of investing your money somewhere else or not. If your answer is no then you should go for saving account.

kenyant · #8 03-30-2010, 10:37 AM

start a business- as far as i know, there is no place where that is totally risk free. but be wise with that cash, money is very hard to come by and so be careful

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