hi
my gf has $ 10,000 and presently getting $17 month from a bank. This is too low I think and the annual rate comes to (17 x 12 )/10,000 x 100 = 2.04 % .
I want to find a better option prferably in a bank or other investment option.
Any advise ???
thanks

Hi. I have just sent you a PM.

well, may be you should visit the site of this guy:

www.gene-money.com

he promises at least 1,000 per year on 10,000. I'm trying to force him to pay a better interest.

some of the online savings banks like HSBC Direct or ING Orange Savings accounts pay pretty well, but I have an account with Orange and i'm seeing that that is low like 2.5%, so not that great still. Some time ago it was like 3-4.5% which was great but this was when rates where much higher overall...

It's definitely worth having some money in one of the online banks.

You are right. 2% APR is really TOO low. I'm getting over 14% a year from my safe investments.

I have been doing a lot with Exchange traded funds. Look up ETF's in google. If you don;t think there is going to be another great depressions, you can look into ETF's that pay monthly dividends of large cap stocks that pay quarterly dividends. These rates range from 4-14% annual return. Here are a few ticker symbols:

PHB
VZ
BAC
VOD
BMY
LHO

Dear enke1234,

if you want bank option try mBank, eMax EUR account with 3.7%/year
or some Hungarian Banks with 10 - 14%/year but in HUF

It honestly depends what you're comfortable with. Some investment methods are very risky while others are more secure.

hm... is it really high rate in your opinion? I oculd get over 11% for investments made in EUR...

Dollar savings Direct is doing 4% APY.......i think it's one of the best right now

don't stick to just one type of investment. there are many to choose from, the basics being banks, bonds, money market funds, mutual funds and stocks. this is pretty much the order in terms of risks & rewards. the safer it is, the smaller you get; the riskier it is, the better the profit potential.

so understand yourself first. what's your risk appetite? can you take losses? if you incur losses, can you wait for recovery?

a general rule is the rule of 100. if you are 30 years old, you can follow a guideline of 30% in safer vehicles, 70% in riskier investments. if you are 60, 60% in conservative, 40% in risky ones. the idea here is, the younger you are, the more you can afford to risk because you have longer years ahead of you for recovery in case your portfolio takes a hit.

if you're new to stocks, you probably get tempted about potential high returns (could be as high as 50% in a bull year). but that comes at a cost. if you come in at a wrong time, you can lose 50% too. learn the lesson from the 2008 bear.

Why keep all this money in a bank at all? Honestly there are better options.

Howevere it is probably best that you seek some professional advice before you take a final decision. You know these guys are the experts and so, it is their job to tell you where you can get the best returns.

Thanks & Regards.

I earn at least 11% in EURO, 13% in USD (annual rates).
Is this "The Best Investment Option"? ))