What investment can I do for a $100. (that amount will increase every 8mths to a yr)a month for down payment on beach house in 10-15yrs. Do I have any options? I'm looking at mid risk, maybe low sign up fees, I'm not going to sit there and watch it every day, I'm not a buyer or seller, not yet.What investment can I do for a $100. a month for down payment on beach house?
First off you might open a money market account and deposit the money into that account. I am assuming that you want a safe investment. Remember the higher the interest rate you receive the higher the risk of you losing your money. Once you have accumulated enough then you could then transfer the funds in to certificates of deposit that generally have a higher rate of interest than a money market account.What investment can I do for a $100. a month for down payment on beach house?
Check www.fidelity.com or www.principal.com-- both financial companies which do investments based upon how much risk you want.
just find a decent mutual fund, 100 a month at a conservative 8% is over 18k, so adding an extra 50 or so a month would help alot,
just go to a good company like troweprice, vanguard, or fidelity and find a decent,not too risky fund, 10 to 15 years is enough time to be in the market, you dont need a purely safe money market type of fund, but dont pick emerging markets or a tech sector fund or something
For that amount, you almost are stuck getting a time-share.
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