Asked anonymously
My husband and I currently have $10,000, in an account that yields 0.71% interest monthly. To earn more, should we invest or open a CD?
Leave Answer
Sign in to MoneyTips
Forgot Password
By submitting you agree to our Terms of Service
Answers | 1
January 19, 2015
Before investing this money, you will want to be sure that you first cover all your emergency bases. Make sure that you have an emergency account of anywhere between 3 - 6 months of expenses on hand. Next, be sure you are comfortable that you can cover insurance deductibles in case of a car accident or major health expense. If you are OK in those areas, you are ready to invest. A CD could be an option, but so could a mutual fund. A fee-only advisor can help you determine the best type of investment for you.
$commenter.renderDisplayableName() | 04.07.20 @ 10:15
{comment}
-
Upvote 0
Related Questions
Answered by Martin A. Smith
CRPC®, AIFA® in Bowie, MD
Hi Judy, The best way to find CD rates is to contact a financial advisor who ca...
Asked by Caleb
Is there anywhere that I can learn about fundamental analysis and technical analys...
-
Upvote 17
- Comments 1
- |
- Answers 6
Answered by Kim Miller PRO+
CFP® in Redmond, WA
Check out Investopedia.com. There are many many websites with free info on invest...
Asked by Christopher
What's the best way to invest to have your money work for you?'
Answered by Alex Bentley PRO+
Financial Adviser in Pacific Palisades, CA
There are two simple steps you can take to invest in the stock market. First, go ...
