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How to invest $25K safely for 6 months but still get good return?
Posted on 7/7/14 at 6:45 pm
Posted on 7/7/14 at 6:45 pm
I am borrowing about $50K from my 401(K) to pay for my MBA. The first semester fees is about $25K. But since I can only have one open loan at any time, I need to borrow as much as I can under one loan. The interest rate for the loan is 4.25%.
My question is - how do I invest the extra $25K that I need for my tuition in January (but am getting now) safely for the next 6 months but still earn a good return? Any suggestions other than CDs?
My question is - how do I invest the extra $25K that I need for my tuition in January (but am getting now) safely for the next 6 months but still earn a good return? Any suggestions other than CDs?
13
Posted on 7/7/14 at 6:51 pm to euphemus
Put it in a promotional high interest checking account if you can still find one, nothing safe, short term and has good return
Posted on 7/7/14 at 6:56 pm to Tigerpaw123
short term bonds would be the best bet I would think
that or bitcoin
that or bitcoin
Posted on 7/7/14 at 7:01 pm to euphemus
Likely too risky, but Utilities ETF
Posted on 7/7/14 at 7:09 pm to euphemus
You will need that money to be liquid, short term and without any risk. Put it in your checking/saving and collect your .05%
Posted on 7/7/14 at 7:24 pm to euphemus
quote:
invest $25K safely
quote:
6 months
quote:
get good return
Wouldn't we all like to know.
Posted on 7/7/14 at 7:54 pm to rintintin
Franklin income fund. May increase a little but you'll get monthly dividends
Posted on 7/7/14 at 7:54 pm to euphemus
Can't be done. Bank CDs pay 1% or so. Anything more is going to have some risk of principal loss.
There's no free lunch or reward without risk.
There's no free lunch or reward without risk.
Posted on 7/7/14 at 8:02 pm to euphemus
Vanguard Wellesley Fund
40/60 stock/bond mix. Nice quarterly dividend.
40/60 stock/bond mix. Nice quarterly dividend.
Posted on 7/7/14 at 8:12 pm to euphemus
Anything other than a savings/checking account will be either too high risk, or too much trouble to bother with for the minuscule bump in return.
Posted on 7/7/14 at 8:22 pm to euphemus
open a high-yield savings account or no penalty cd with ally bank.
You will get ~0.85%
You will get ~0.85%
Posted on 7/7/14 at 8:32 pm to marchballer
For me $100 isn't worth my time to open up an account (for which you'd probably have to change your direct deposit on your payroll to qualify for that rate)
Posted on 7/8/14 at 7:43 am to Ric Flair
Yeah you're talking about, at best, maybe $125 in interest from a high-interest money-market account.
Hell, try going to the registrar office and see if you get a discount for paying for a full year in full.
Hell, try going to the registrar office and see if you get a discount for paying for a full year in full.
Posted on 7/8/14 at 8:24 am to slackster
Your taking a money from a tax deferred account to invest it in a taxable account for 6 months and looking for something safe while the market just hit its all time high. That sounds like the worst decision ever. If you have a goal in mind within a year it should not be invested in anything higher than CD's.
Posted on 7/8/14 at 12:26 pm to rintintin
quote:
Wouldn't we all like to know.
Posted on 7/8/14 at 12:40 pm to marchballer
quote:
open a high-yield savings account or no penalty cd with ally bank.
You will get ~0.85%
this is probably the best return for 100% safety.
Posted on 7/8/14 at 12:52 pm to euphemus
Plenty of solid bond options that will give you a 5% return tax free.
Posted on 7/8/14 at 1:55 pm to I Love Bama
quote:
Plenty of solid bond options that will give you a 5% return tax free.
So, 2.5% over 6 months ($625) with a chance of losing principal. No thanks. I would say that the only real option is high interest savings/checking.
Posted on 7/8/14 at 2:39 pm to Janky
Synchrony Bank (formerly GE Capital
Retail Bank) is currently offering
a high-yield savings account at 0.95%,
FDIC insured.
That's where our money is.
Retail Bank) is currently offering
a high-yield savings account at 0.95%,
FDIC insured.
That's where our money is.
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