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glorymanutdtiger
LSU Fan
denver
Member since Jun 2012
1675 posts

Best investment options for 500 a month
I have 401k through work. I'm happy with it.I want to put 500 more into something safe. Apart from high interest savings account which is around 2.3%, are there any other options?

Don't want to put into stock market


oklahogjr
Arizona State Fan
Gold Membership
Member since Jan 2010
27785 posts

re: Best investment options for 500 a month
buy some bonds? although for risk reward it's hard to beat 2.3 for no risk


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Chad504boy
New Orleans Saints Fan
Member since Feb 2005
131184 posts
 Online 

re: Best investment options for 500 a month
mortgage?


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10
jimbeam
USA Fan
University of LSU
Member since Oct 2011
53676 posts

re: Best investment options for 500 a month
Have a roth? If not, do that. Perfect amount to do so. You can keep in cash, reits, stocks, bonds, etc.


HailToTheChiz
Auburn Fan
Back in Auburn
Member since Aug 2010
30372 posts

re: Best investment options for 500 a month
quote:

Have a roth? If not, do that. Perfect amount to do so. You can keep in cash, reits, stocks, bonds, etc.


glorymanutdtiger
LSU Fan
denver
Member since Jun 2012
1675 posts

re: Best investment options for 500 a month
thanks guys. Unlike high interest savings account, you don't have to pay taxes on your investment gains. Is that correct?
This post was edited on 5/16 at 10:06 am


TheWiz
LSU Fan
Third World, LA
Member since Aug 2007
9918 posts

re: Best investment options for 500 a month
quote:

I have 401k through work. I'm happy with it.I want to put 500 more into something safe. Apart from high interest savings account which is around 2.3%, are there any other options?


$500/month would allow you to max out a Roth IRA annually.

quote:

Don't want to put into stock market


Why? How old are you?


glorymanutdtiger
LSU Fan
denver
Member since Jun 2012
1675 posts

re: Best investment options for 500 a month
I'm already putting into stock market through traditional 401(k). I want an option that is accessible and risk free. I'm 36.




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dirtsandwich
Alabama Fan
AL
Member since May 2016
1530 posts

re: Best investment options for 500 a month
quote:

Unlike high interest savings account, you don't have to pay taxes on your investment gains. Is that correct?

No. That could be incorrect depending on the nature of the account. There are tax advantaged accounts (IRA, Roth IRA) but there are limits to how much you can put into them annually.

Investing gains may be taxed at a lower capital gains rate depending on how long you held the investment.
This post was edited on 5/16 at 10:40 am


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dirtsandwich
Alabama Fan
AL
Member since May 2016
1530 posts

re: Best investment options for 500 a month
quote:

I want an option that is accessible and risk free. I'm 36.

If this is short term money, will be hard to beat 2% with no risk. If longer term/retirement, I question why you’d want no risk given your time horizon.


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TheWiz
LSU Fan
Third World, LA
Member since Aug 2007
9918 posts

re: Best investment options for 500 a month
Ok. Are you completely maxing out your 401k? Ideally you should take complete advantage of tax deferred accounts first.

How is your emergency fund? Do you have enough for 3-6 months?

Lastly, you should really take advantage of a Roth IRA . I know you said you were risk averse, but I don't understand why unless you need the money soon. You've got plenty of time to be in the market and you don't have to go 100% VTSAX. Otherwise, just open up a high-yield savings account or VMMXX and let the money sit there gaining a marginal amount of interest.

ETA: Missed the accessible and risk free part. Just open a high-yield savings account or VMMXX. You can get a little over 2% with those.
This post was edited on 5/16 at 10:46 am


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Fat Bastard
Boston College Fan
Member since Mar 2009
40076 posts

re: Best investment options for 500 a month
save and buy rentals


TheWiz
LSU Fan
Third World, LA
Member since Aug 2007
9918 posts

re: Best investment options for 500 a month
quote:

save and buy rentals



If he's scared of investing in the market, he definitely isn't going this direction.


glorymanutdtiger
LSU Fan
denver
Member since Jun 2012
1675 posts

re: Best investment options for 500 a month
I think i might split between high interest savings and Roth. But take risk with Roth. Add additonal amount to 500 and split between. thanks for the advice


white perch
Northwestern St. Fan
the bright, happy side of hell
Member since Apr 2012
5348 posts

re: Best investment options for 500 a month
SCHD


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