What to do with a bunch of money?

Somedudeintn

Somedudeintn

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somedudeintn
Ok, so not a ton of money, but I'm about to list my house for sale and I've got a bit of equity in it. Will be moving to a new city and getting an apartment for a year before buying a house again. Where is the best place to keep a few dollars that I'd like to use in about a year. Right now I'm thinking that a money market would be best, but I would like a better return. I've thought about a dividend index fund, but I realize stocks for 1 year is riskier. Money would likely be deposited this December and pulled out again next December.

Thoughts?
 
Buy a plane, fly it for a year, sell it for a profit. I do it all the time. Its called a fun savings account.
 
Give it to me. You've got an equal shot at profit or loss as putting it in the stock market. But I'd be more appreciative. :p

Money Market is pretty safe, or a shorter term bond. If you have the appetite for some risk, maybe purchase rental property? You can decide a year later if you want to take out equity to buy a home or sell and pull out all the equity.
 
denverpilot said:
Mattress. :)
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Yeah, that!

With the upcoming election, the markets will be in turmoil for a while. If you put a small nest egg into any investment, in a year or two you may make a few bucks, or you may lose a ton. Put it into something really really safe, even if it is not a mattress.
 
Money market lousy returns. I have a couple IRAs in Vanguard Dividend Fund and it has done well. At least you'd get the 2-5% dividend most companies have. One year though you probably wouldn't see much appreciation, so hold onto to the cash and/or money market. CD paying a little, could go that route for the year you're talking about.
 
If I had a bunch of money I wanted to invest for a year, I'd go on Aviation forum and ask for advice.

Hopefully everyone would tell me to seek out an investment adviser that has done well for my coworkers, friends, family.

Or at least an infomercial or two about Gold and Silver.
 
Buy a plane. Problem solved.
 
CD's aren't making enough to have your money tied up for so long. If your wanting to stay liquid Id just put it in a high yield savings account over at American express. Now high yield is .90% which is a laugh but still better than a local bank. You make a little, wont lose out if the market turns south, and you are 100% liquid.
 
I use a muni bond fund with no tax liability. Pays 3-4%.

Cheers
 
Nah...financial advisors are ultimately in it for them, they are making money off you and want to sell you what is going to get THEM the biggest return. But yeah Im a little soured by some through experience.
 
Short term bonds should be a safe bet. If you play the stock market, use caution right now. This election has everything shook up.
 
rolivi said:
If I had a bunch of money I wanted to invest for a year, I'd go on Aviation forum and ask for advice.

Hopefully everyone would tell me to seek out an investment adviser that has done well for my coworkers, friends, family.

Or at least an infomercial or two about Gold and Silver.
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I never said I would absolutely follow what I heard here, just looking to hear from others about ideas and to hear more about pros/cons.

simtech said:
CD's aren't making enough to have your money tied up for so long. If your wanting to stay liquid Id just put it in a high yield savings account over at American express. Now high yield is .90% which is a laugh but still better than a local bank. You make a little, wont lose out if the market turns south, and you are 100% liquid.
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Good info. I've used capital one 360 (formerly ING direct) for the last 8 years as my savings account. It's at 0.75% APY right now. I'll have to look at AmEx savings as I have not compared rates in a while.
 
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simtech said:
Nah...financial advisors are ultimately in it for them, they are making money off you and want to sell you what is going to get THEM the biggest return. But yeah Im a little soured by some through experience.
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You got it! Unless your very incompetent making financial decisions, then there's no need for an advisor. You think they look after your pocket? I don't think so.
 
If your timing is really a year, hold your nose and accept virtual zero interest for the benefit of capital preservation. Anything else (including bond funds) holds the possibility of taking a dive just when you want the funds.
 
My favorite investment is MLPs due to the large dividends but they complicate your taxes. I have one that pays a 10% dividend and the price pretty much doesn't move too much (except that small little oil crash last year - came right back). Your risk tolerance may not be as high. :cool:
 
Unit74 said:
Great way to make a billionaire into a millionaire.......buy a plane.


Short term, non volatile. MM account.
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Money market accounts rely on having a high enough interest rate to have any hopes of getting a decent return. Not the best option IMO.

I know the OP mentioned he wanted something short term, but a mutual fund is really the best as far as seeing a good return.
 
My serious answer is hold your house, lease it through a property manager, use the proceeds to subsidize your rent, and sell it when you're ready to go into your new home. But that's all conservative boring thoughts.
 
Some sort of money market, CD, etc. It sounds as though this is money you can't afford to take a significant risk on, so that's the way to go.
 
Perspective: Woukdnt spend much time worrying about it when the money made from the sale of a typical house might make you $300 invested for a year in liquid accounts. The markets are awash in money and begging for someone qualified to borrow it. They don't need yours.
 
Any business ideas, or small local business you could invest in?

Better to be at your own wheelhouse, for better or worse.
 
rolivi said:
My serious answer is hold your house, lease it through a property manager, use the proceeds to subsidize your rent, and sell it when you're ready to go into your new home. But that's all conservative boring thoughts.
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...and then when you buy, buy multifamily. You might even be able to cash-out refi your current home and keep it, letting renters pay the note down while your new multifamily tenants pay your new mortgage.​
 
Because the first one won't let me.....:nonod:

Whoever said Asian wives are obedient and subservient never had an Asian wife.!!! :lol:

They are very patient and will eventually get what they want.:yes:
 
Buy all the ICON stocks you can. Great business model and they cannot build those planes any faster right now.
 
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