Good short-term investment?

[Banana]

I have a lump of money set aside in a CD that is due to mature next month. I created the CD prior to me learning about RP's economic policies.

Now, some people talk about investing in gold as an insurance against inflation.

What would you say to be the best short term investment? I say short term because I intend to use the money as a down payment for a house but am holding out in hope that housing market will crash and burn, bringing the insane price to something a bit more decent....

TIA.

 

[IChooseLiberty]

I have a lump of money set aside in a CD that is due to mature next month. I created the CD prior to me learning about RP's economic policies.

Now, some people talk about investing in gold as an insurance against inflation.

What would you say to be the best short term investment? I say short term because I intend to use the money as a down payment for a house but am holding out in hope that housing market will crash and burn, bringing the insane price to something a bit more decent....

TIA.

I'm in the same situation and am stockpiling silver myself. I want to save up about 10k in Precious metals and then I'll put another 10k into canadian dollars. I'd also like to buy some green energy stocks, maybe some stock in a canadian or australian ETF.... some investment in China might work out well.

and I'll invest in the Canadian housing market. I'd rather not invest in America's despite it's price deflation.

Just make sure you research any investment well before you buy in!!!!

 

[IChooseLiberty]

Check out www.europac.net

I think they have a very realistic outlook on the way of things.

 

[Banana]

Wondering if anyone has more advice...

I'm looking at buying silver once my CD mature. The money is intended to be used one day for a down payment for a house, but I am waiting for a housing crash. So, really, I want to protect my savings against inflation but also maybe make some interest somehow.

It look as if I go with Goldmoney, I don't really collect interest but in fact pay out money to have the privilege of holding onto precious metals.

Any advice?

 

[BW4Paul]

I...I say short term because I intend to use the money as a down payment for a house but am holding out in hope that housing market will crash and burn, bringing the insane price to something a bit more decent....

Erm, the housing market has already crashed and burned quite a lot, actually :o . Not sure where you've been, but things are down across almost the entire country and it's all over the news. Prices will probably drop another 10-20% in many places before it's all over, but if you see *current* prices as "insane," you probably shouldn't hold your breath.

 

[forsmant]

Prices rose 70% in the three years before this turnaround. The housing crisis has not affected the country equally. Here in Nebraska the market has slowed but the prices have not really dropped...yet. The prices will come down at least what you are calling for.

 

[Banana]

Erm, the housing market has already crashed and burned quite a lot, actually :o . Not sure where you've been, but things are down across almost the entire country and it's all over the news. Prices will probably drop another 10-20% in many places before it's all over, but if you see *current* prices as "insane," you probably shouldn't hold your breath.

Actually, not for my area. Yes, I'm aware of it crashing everywhere else, but it's still high in my area. In fact, my local newspaper reported that the county's price appreciated 8.4% last year.

From what I can gather, there are pockets of resistance, and my area is one of them; it will come down eventually as the recession spreads...

I hope.


But I digress- what would be good investment to protect the savings from inflation and maybe at least make a little interest. I'd be OK if it was revenue neutral, but at least I wanted to know all possibilities.

 

[Corydoras]

http://www.everbank.com/001WorldCurrencyCDSingle.aspx?LinkID=Body1

I'd get a three-month Icelandic CD and hope that the krona doesn't drop more than about 6% against the dollar in the next three months.

 

[jonahtrainer]

It look as if I go with Goldmoney, I don't really collect interest but in fact pay out money to have the privilege of holding onto precious metals.

Any advice?

GoldMoney is great. I highly recommend them. Here is an screenshot of the back office.

The interest rates are paid monthly on customer segregated bank savings accounts held either at Barclays or Royal Bank of Scotland.

I hear GM will be offering IRA's in a couple months and debit cards sometime later this year. Should be interesting.

 

[Banana]

They have saving account with interest?

Hmmm didn't see that on website.

Definitely will call and talk to them.

 

[theseus51]

Yeah, it looks like just a pay-pal type thing where you transfer from one person to another. I don't see anything about being paid interest.

 

[Corydoras]

Jonah, I know you're such big fan of Goldmoney that you earn commissions when people start accounts through you, but Goldmoney puts so little about their bank accounts on their website that it's obvious they're trying to discourage use.

 

[AceNZ]

You would need to look around for how to do this from the US (maybe through Europac?), but a basic New Zealand savings account is paying 8.75% and CDs are available up to 9%+ (the ones offered by EverBank only pay 6% which is a rip-off). Have a look at http://www.asb.co.nz/ for more info.

On the currency side, the NZD is up 4.5% against the USD in just the last month or so and up about 20% in the last year. Cash placed into an NZD-denominated CD a year ago would have returned more than 28% in USD terms if cashed out today.

If you're interested in gold, another option that provides allocated offshore vaulted storage is BullionVault. They don't pay interest on cash, though, due to counterparty risk.