investment advice

[HornOnTheBayou]

My wife and I are looking to buy a house in the next 1.5-2 years. Right now, we're just putting money aside each month for a down payment. What is the best investment for that money? I was thinking CDs, but I was wondering if there was another low-risk option with a better return. Thoughts?

 

[JohnnyM]

you could put it in income bond funds, although for 2 years that might not do you too much good. they'll do better than CDs or the sock drawer though.

 

[gsoda3]

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[HornOnTheBayou]

Thanks for the thoughts, PC. I'll look into it.

 

[TR_Horn]

You could also take a look at ING Direct - they have a savings account where your money is always accessible and the rate on the account right now is 2.25%. It is an Internet only bank but ING is a big multinational company.

 

[froghorn717]

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[froghorn717]

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[Dead Horse]

why do you need a down payment for a house? Ever consider a 100%loan? If it is going to be your homestead you should go get a 100% loan and keep your down payment for investments.

I am no loan officer but I do know there are several here and could advice you, or I could refer you to the one I used last.

 

[horn4life]

Hell do the simple thing and just start buying Euros.

Since we are going to borrow apparently another Trillion or so dollars to fund Bush's revamping of social security and we will continue borrowing for iraq and any other worhtwhile program, euros are probably as safe as anything out there right now.

Granted the Euro to Dollar rate is at record highs, but nothing in US monetary policy you are probably safe. You would have increased your US dollar value by over 25% just having euros sit in a safety deposit box over the last couple of years.

It's liquid, and will probably outstrip most savings rates without the down side risk of stocks.