Personal Investment & Financial Planning Q`s/investing inheritance
I have $100,000 sitting in a Wells Fargo savings account doing absolutely nothing. This is an inheritance I received last year. I do not wish to 'tie' all of it up at the moment as we may need some of it as we are planning to move house when we find the right place. Can you suggest a short term investment with a reasonable return? It seems crazy to leave such an amount in the bank just getting 95cents a month interest.
Hi. I know the tiny return is tough to accept, however, safety seems to be the major concern for you. There is no free ride when it comes to trying to achieve extra return so if this is money you will need shortly, I would excercise caution. With this being said, you could explore a short term or ultra short term bond fund through a company such as Vanguard (Vanguard Short Term Govt or Corp fund). www.vanguard.com. This will provide higher yield but will be somewhat subject to rising interest rates as they occur. Another option to consider is www.maxmyinterest.com. I hope this helps.