Split the funds: $4,000 CD, $1,000 CD, leave $500 in regular savings. Now use the $1,000 CD as a pledge for a secured credit card, and start building your credit score. A good credit score will save you a small fortune over the course of your life.
*Start by looking into local convenient Credit Unions first.
Investing for one year is not worthwhile. Save the money in a savings account, not for the interest, but for the safety of not being lost by fire or theft (or compulsive spending)
Investing is a "long" term affair. Investing triples your money in a decade.
If you need the money in 12 month, just hold on to it.
Invest for short term may not work well. CD is the only safe solution for short term.
You are in same position as my son was few years back. He wanted to go to college but we couldn't afford one. Then ,one of my good friend recommended us http://buildtruewealth.net/ who made him invest his money according to their strategy and my son got the exact returns he wanted to have after two years, Now he is in college and still making money out of his investment.
Consider investing in something where you can use pre existing skills to help further build your investment?
hes and tjx
I'm 18 years old and I have about 5500 dollars I'm looking to invest with. The only problem is that I need the money back in a year because in a year I will need to buy my own car. I've looked into CD's but they only yield like 0.35% for a 13 year one. That's like 20 dollars. Not even worth the trouble going to the bank to do it. Is there anything else I can get to give me a higher yield?
