It's hard to make much out of CD's unless you have more than 100K to put into it. With todays rate $100K, you'd be lucky to make $5K in intrest in a year. Then you have to pay taxes on that.
It's hard to make much out of CD's unless you have more than 100K to put into it. With todays rate $100K, you'd be lucky to make $5K in intrest in a year. Then you have to pay taxes on that.
what is good then?Originally Posted by civic95
And miles to go before I sleep,
And miles to go before I sleep.
Depends on the person. Actually you might want to consider an I Bond, they are paying up to 7% today. The intrest rate will automatically adjust every 6 months. Rates are expected to go higher over the next few yrs to fight inflation. So that's good news for you. For 5 years I'd expect to make about $500, on your $1000 investment.
RE is usually the best investment, but when you want your money, you have to wait till you sell it, or take an equity line of credit out. $1000 is not enough to invest in RE in my humble opinion.
u need good credit also....
Good point, and at 17, 18 I doubt he has much, could be wrong though.
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