Hypothetically speaking, If I had $21k what should I do with it?

[wickeddroptop]

If I had $21,000 in cash that I wanted/needed to put away until tax time what should I do with it as far as whats going to be the best kind of return for my $$$$$.

And the first person that gives me the advice to give it to them, I will hurt you, so please, its not funny if I take the joke away.

[Phischy]

CD's or a money market. I"d contact your bank and look at lengths of commitment and what the projected return is.

[fadel]

Use 10.ooo Dollar And Do Money Exchange And The The 11.000 Go And Find A Bank Who Offer 4.9 For A Cd For Short Time And Leave Them There

[MrKrispy]

If you want to be able to access it, I recommend an ING savings account. They give you a 5% interest rate, no fees or minimum. They only catch is the place is internet based, so you can't walk in to a bank and talk to a teller. However, ING is a HUGE company, my 401k has been with them for over 10 years (which is how i heard about the savings thing). I think the site is:

www.ingdirect.com

Compare their 5% interest to <1% from most other banks. Many short term money market and CDs don't even hit 5% (but CDs may compound differently too).

[luistwentyone]

money market

[coral diver]

IRA !!!! you might want to look ahead IMO

[Phischy]

The Irish Republican Army is signing a peace accord with Brittan. I don't think they're worth investing and I think they're labeled as terrists by Dubyuh so you may get thrown in jail too boot.

[chilly05willy]

HSBC Direct New Money (hsbcdirect.com): 6% until April 30th, then down to 5.05%.

Emigrant Direct (emigrantdirect.com): 5.05%

Both internet based, and both do not have fees or minimums.

[sdfreshwaterkid]

lol....

[Jett]

put it all into out of the money puts.

seriously though, a mutual fund investing in energy or emerging markets would be a good coice.

[aqua addict]

i've always liked govt bonds......u get a 100% return on investment in 4 years

[IgotCrabs]

did you kick some ass on wheel of fortune?
Donate and get a tax write off
go to vegas and put it all on red at the roulette table or
1 fat hand of blackjack. i would do the either of the last 2

[wickeddroptop]

did you kick some ass on wheel of fortune?


Didnt make the bonus round, missed it by about 3 grand. I hit lose a turn during the prize puzzle on the very spin in which I knew the puzzle, and then I was a half a second late on the last toss up for 3 k. Either would have landed me the bonus round which I also knew, whatching from back stage while they were taking my mic off. 21,050 all cash though, nodda too shabby for a days work.
All good suggestions, thanks everyone. I am leaning towards just a basic CD in blocks of 5K. Looking at a max of 1/3 for taxes according to the accountant, but we dont need the money for anything right now, so just going to invest until tax time to make sure im covered, as its going to put me in that higher tax bracket.

[swissfish]

put it in a swiss bank account :D

Better start claiming less deductions on your paycheck too.

[Redeye]

a HUGE MASSIVE REEF, measured in square feet, no gallons:)

then charge admission
you know all of us reef zeeks would be there and pay:)

or you could invest in my lady and I's honeymoon, and earn free legal service (not very good, she's just graduating law school) and free aquarium maintenance:P

[BumbleBee]

Nice Win! Now where's my $400 ... lol J/K!!

[IgotCrabs]

Do you know when they are gonna air it?

[lucubrator]

put it in a swiss bank account :D


Psh.. your people sold out. You have to go to UAE or Turkmenistan to hide real money.

[malachai629]

blow it all on travel, fo sho

[SECTER1]

Dump it in to your house that way you can enjoy it and raise your value with out adding to your mortgage. Mybe not the best return but its might be fun and the wife might be happy.

[pk-sd]

HSBC Direct New Money (hsbcdirect.com): 6% until April 30th, then down to 5.05%.

Emigrant Direct (emigrantdirect.com): 5.05%

Both internet based, and both do not have fees or minimums.


Costco has a moneymarket accounts also. I think its 5.25%.

[pirate2876]

make a real big order from fragfarmer.com then grow out the corals and sell frags online.

[EncoreDon]

Not withoutstanding all of the above suggestions, I'd be lloking around for some realestate to invest in. With all of the subprime mortgages going to higher rates there will be a lot of foreclosures and anxious sellers. Buy a fixer upper, set it up as a rental at a cash flow point and they use it as a deduction if it doesn't rent and deduct the fix up costs. Your account should be able to tell you how to do this. Don't I repeat DON'T invest any money in any type of coral or fish business, unless you want a guaranteed loss on you tax return.

[Redeye]

well...yeah...if you want to be realistic about it...

:)