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I've slowly accumulated a nice savings over the past few years but havent done much more then put money in money market and savings accounts that make around 4% interest.

lagwagon0 · March 6th, 2008, 07:23 PM

I've slowly accumulated a nice savings over the past few years but havent done much more then put money in money market and savings accounts that make around 4% interest. Any ideas/site/suggestions to save more quickly and bring a higher return? I should mention the stock market is completely alien to me and I wouldn't know where to begin.

**Defgarden** · March 6th, 2008, 09:53 PM

I wouldn't suggest single stocks unless you have a lot of experience. You could research a few ETF's though (exchange traded funds). ETF is basically like a mutual fund with lower fees that trades just like a stock. Some of them follow an index, and some follow a sector or a particular industry.

I'm also looking at social lending. A Personal Loan and Lending Investment Community - Lending Club
Seems promising.

The rates on bonds and cd's are pretty crappy right now. You could also just put money in mutual funds.

**4/10/82** · March 6th, 2008, 10:22 PM

i understand many people have turned small investments in crack cocaine into fairly large returns.

but it's my understanding that you may also get arrested or killed doing so.

SicSemprTyranis · March 6th, 2008, 10:43 PM

Invest in Gold....as the dollar tanks, gold strengthens. Could go up to $1600 an ounce.

There are a lot of good index funds the track gold investments.

Bogey Man · March 6th, 2008, 10:44 PM

**SirJW** · March 6th, 2008, 10:55 PM

SuxBeingU · March 6th, 2008, 11:01 PM

Oil is a bad idea right now its may go up a bit longer but it will most surely come down sooner rather than later.
Don't know how much you have but real estate is always safe. You can go out of state if you don't have alot of cash. Still alot of good deals out there. buy a triplex or apartment building.

Look at buying a new model home and renting it back to the builder for two years. They pay the taxes and all costs.

lakings173 · March 7th, 2008, 12:54 AM

What kinds of fees do you pay for your money market accounts?

ING Direct has a savings account with no fees that has an APR that varies from 3.4 to 5.2 (I think that's the highest I've seen it).

Something to consider if you're paying any fees for your current accounts...

rubo17 · March 7th, 2008, 01:15 AM

There are some great Real Estate deals out there... buy and rent out.

PM me for futher details

seraphim · March 7th, 2008, 12:34 PM

Buy the Kings, get a sweetheart land/tax deal from the city, charge $25 dollars for parking, and get piston to say your losing money...works every time.
-_Sf

KingsJohn/Obediah · March 7th, 2008, 01:44 PM

Quote:

Originally Posted by lagwagon0

I've slowly accumulated a nice savings over the past few years but havent done much more then put money in money market and savings accounts that make around 4% interest. Any ideas/site/suggestions to save more quickly and bring a higher return? I should mention the stock market is completely alien to me and I wouldn't know where to begin.

Find a Certified Financial Planner and have him do the work.

SicSemprTyranis · March 7th, 2008, 03:37 PM

Watch out with financial planners though, as often they will move you in one direction and because they work for a big company you think they have all the answers. ALWAYS do your homework, no matter what a financial planner tells you.