safest investment question

[N8ball]

You guys have been a great help. I am going to invest around 5k to start saving for my daughters wedding but I do not want to gamble with it. Would the best thing to do is open a CD? What are other safe possibilities?

[The Little Giants]

How old is your daughter?

[domafia]

A CD is the safest option as your money is guaranteed by the government for amounts up to $100,000. That said, when you count in inflation, the rates on most CD's have you making very little money.

If your daughter's wedding is many years out from now, index funds or mutual funds are probably the best way to go. Sure some others will chime in with good advice once we find out more about your situation.

[Romanowski]

buy gold buillion

[Goods]

I like American Funds Growth mutual funds. Very highly rated and stable growth. But I'd honestly wait to see where the market goes in the next couple of months first. We may be headed for recession.

For now, just putting in a money market account will give you up to 5% return with zero risk.

[Kentaro]

I thought the money market and cds were a great investment. But the thing is if you invest with them you arent really going to be making alot of money. $5,000 with a 5% rate isnt that great of earnings. I'd rather lay $50 on games. You should yield a profit unless you go 0-100 which is highely unlikely. Well what ever you do good luck.

[hogwild]

Wow. I've never seen a gambling site with a forum like this. Pretty sweet. Hope you guys give good advice.

[NY Mane]

Goods,

Doesn't the American Funds Growth have a +1.00% expense ratio? If he puts his money there he would be in the hole at least 1% per year in fees.

Index funds have a .25% expense ratio along w/ some mutual funds if you search and filter out the high expenses.

It is funny how some mutual funds that invest soley in the Large Caps can charge 1% or higher.

[JGB3]

HSBC online savings account earns 5.10% interest and your money is at your disposal with no fees attached whatsoever . Just researched the same thing because I have some money to invest. I am leary about the market going into a recession, like my friend Goods stated in the post above, so the next best thing is to find a secure return. HSBC online account is federally insured and keeps the money liquid in case another opportunity presents itself in the near future . Good luck with your decision . I'll be watching the thread for ideas as well ! Thanks for all the help from the fellas in this section of the mall. You've been a great asset to my decision making ! Good luck with all your wagers if you venture into the sports market . The season is upon us

[N8ball]

Originally Posted by The Little Giants

How old is your daughter?

she is engaged and set to be married in almost 2 yrs.

thanx for all the responses. this site is gr8

[NY Mane]

Just don't use a broker or planner - those guys have their own interests first.

They will promote mutual funds w/ high expenses and will not disclose to you that they get a % each month of your investment.

The financial world of stocks and bonds and mutual funds is no different from the sports handicapping tout world. 1 eye on your money and 1 eye on the sharks.

[Romanowski]

ny mane speaking truth in this matter