Have $30,000 to invest, but have no idea what to do with it. Any advice?

[Anonymous]

Saved this money for a downpayment, but I just got a job offer somewhere else so the house buying plans are on hold for now. May want to buy a house in about 3-4 years, but in the meantime, what should I do with it? CDs aren't getting much interest, but at least thats better than my checking account, right? Thanks!

[Anonymous]

Find a bank that will pay you 1-2%-- might be in a saving/checking account or might be in a CD. Try Cardinal, Capital One, or Ally to start.

[Anonymous]

Could also put some in ibonds, paying about 2% now

[Anonymous]

Have you paid off all your debts?

[Anonymous]

You might be interested in peer to peer lending. Depending on what state you will be in, check out prosper or lending club. I have been with prosper for about 2.5 years with a 6.5% avg. rate of return. You will hear much higher rates stated by others, but I am pretty conservative with my approach. Also, the time horizons for the loans seem to fit your schedule pretty well. Just remember to spread out your money across many loans and you will do fine. Other than that, not much I can suggest other than mutual funds, but there you could take a pretty big hit (or not). Good luck.

[Anonymous]

OP here. Yes, I've paid off all my debts. Is a 3 year CD that yields .12% a decent option?

[Anonymous]

Anonymous wrote:OP here. Yes, I've paid off all my debts. Is a 3 year CD that yields .12% a decent option?

Um. No. My online savings account gets about .9% every month and I can take it out whenever I want. Look for a high yield online savings or low risk investment.

[Anonymous]

Anonymous wrote:OP here. Yes, I've paid off all my debts. Is a 3 year CD that yields .12% a decent option?

No, you should get at least 1%-- might just be in a checking account if you find the right bank.

[Anonymous]

Anonymous wrote:OP here. Yes, I've paid off all my debts. Is a 3 year CD that yields .12% a decent option?

NO!! Go to bankrate.com to see where the best rates are. Also, look at Capital One, last time I checked they had a checking account for new customers paying 1%

[Anonymous]

Look into Ally Demand Notes. I think they are currently at 1.9%

[Anonymous]

Ok, this is really helpful! I'm checking out bankrate.com and researching peer-to-peer lending (although that seems a bit complicated for this novice.) Thanks for the advice!

[Anonymous]

I've said it before and I'll say it again. Sites like Betterment.com and Wealthfront.com are GREAT for people who need to be investing money and don't know where to start. They automatically rebalance your investments based on your risk profile. I prefer Betterment.com for ease of use but if you want tax loss harvesting, go with Wealthfront.com

[Anonymous]

Stick it in Vanguard Tax-Managed Balanced Fund.

[Anonymous]

I Bonds.

[Anonymous]

Anonymous wrote:Stick it in Vanguard Tax-Managed Balanced Fund.

Agree. i did this in Sept 2013 with $30k (one of the agressive index funds) and it's now $35k.