AboutWarren Boroson Expertise Author of "Keys to Investing in Mutual Funds" (Barrons) and "Ultimate Mutual Fund Guide" (Probus). Columnist for Gannett News Service.
Experience Author of 20 books; winner of 1996 Personal Finance award from Investment Company Institute and Washington University. Formerly on staffs of Money and Sylvia Porter's Magazine. Had a radio program (on WEVD)about mutual funds and a newsletter, FundDigest.
Expert: Warren Boroson Date: 1/14/2008 Subject: looking to invest
Question i want to invest $1000 and whenever i want to be able to take the money out or stop the investment. is there anything like that? what would be the best thing to do to gain the most amount of money?
Answer Are you willing to lose some of that money--in order to possibly gain money? Or do you want to preserve the $1,000?
If you want to preserve the entire $1,000, consider a money market mutual fund. From Vanguard, Fidelity, or T. Rowe Price. I don't believe that there are any charges if you withdraw all your money early--but you should check.
An ultra-short bond fund is another possibility, but here there's a small possibility of a small loss.
If you want to take on some risk, consider an income fund, which has relatively little exposure to stocks. Fidelity has Asset Manager: 20; T. Rowe Price has Spectrum Income.
Most mutual funds let you take your money out whenever you wish; only a few have early-withdrawal penalties.
