“ Set a Time Frame for Your Financial Goals.”
Contributions, but not gains, to Roth IRAs can be withdrawn at any time, without penalty or taxes due.įinancial Industry Regulatory Authority.
Peer-to-peer (P2P) lending: Excess cash can be put into play via one of these lending platforms that match borrowers to lenders.Municipal bonds: These bonds, issued by local, state, or non-federal government agencies, can offer higher yields and tax advantages since they are often exempt from income taxes.
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Bond funds: Offered by professional asset managers/investment companies, these funds are better for a shorter time frame and can offer better-than-average returns for the risk.Treasuries: There are a variety of these government-issued bonds, such as notes, bills, floating-rate notes, and Treasury Inflation-Protected Securities (TIPS).Keep in mind that money market accounts differ from money market mutual funds, which are not FDIC-insured. Money market accounts: Returns on these FDIC-insured accounts will beat those on savings accounts, but require a minimum investment.They are FDIC-insured for up to $250,000. These periods usually range from several months up to five years. Certificates of deposit¡ (CDs): These deposits are offered by banks and typically pay a higher interest rate because they lock up cash for a given period.
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