How to Invest for the Near Term
Question
I am trying to realize the investing potential with the $20,000 I end up with at the end of each summer that I work between school years. Throughout the rest of the year I usually spend most of this slowly on rent, daily necessities and other costs, but I believe there should be some options available to wisely invest this money to grow. My question is regarding current recommended investment options - for up to $20,000 - in our economic climate. If you have any suggestions for wise investments of up to $20,000 which would bring fruit by early next year, or produce a minimal income to live on, with a greater return, I would greatly appreciate it!
Answer
I am not an investment advisor and I really am not the best qualified to direct you in how to invest in this market. I have posted several items on New Venture Lab that may help guide your thinking, but I would caution you that the market is very uncertain at present and many investment strategies will not produce any fruit in such a short time frame. Most investment strategies are multi-year strategies. Most short-term investments that need to protect the capital are invested in short-term money market funds, which are currently at very low interest rates, but that is just the reality of our current market. Very few high-return options exist for short-term investment horizons.
- June 30, 2009
- Investing
- Ask a New Question
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