<p>...in my checking account that I won't use any time soon so I was wondering what would be the best thing to do with it to get some return. CD? Invest? I have $3500 that I can use for this kind of thing.</p>
<p>put it in a vanguard mutual fund.</p>
<p>Put it in a CD. That's too little of an amount to invest in the stock market, especially since the stock market isn't doing well right now. The other option is putting it all in an envelope and mailing it to me :). JK! If I were you, I would spend a thousand on whatever, and put $2500 in a CD.</p>
<p>Could I get suggestions on what banks I could put this into a CD at? I live in Orlando if that makes a difference.</p>
<p>hedge funds or coke</p>
<p>buy oil futures. (not really, that bubble will burst soon... it's heavily over-inflated)</p>
<p>... I suggest you do not randomly spend $1000 for no reason. At least move a significant amount to a savings account.</p>
<p>ETrade has a good rate for savings...4.7%. I think they offer 5.1% one year packages as well. Other than that, check places where nobody would look...online. Discover Bank (as in the credit card) <a href="http://www.discovercard.com%5B/url%5D">www.discovercard.com</a> and choose 'CD and Money Market' I think offers 5% or something (for CDs). I know for fact that ETrade offers 4.9% or 5.1%. Capital One Bank offers money market at 4.75%. Citibank Direct ultimate money account is 5% with EZ checking. Take your pick. But if you're going the CD route, I found that the best CD rates are with one-year CDs.</p>
<p>Go to bankrate.com and take your pick. Or you could put the money in an envelope and mail it to me. I only WISH I had $3500 lying around. I don't even have $35, let alone $3500.</p>
<p>if you don't already have an IRA you might consider setting one up, otherwise I would set up a high-yield savings account..for example:</p>
<p><a href="http://www.zionsbank.com/deseret_jump/control.html?creativeID=11369660&tn=4733&group=4733&failsafe='http://www.zionsbank.com/deseret_jump.html'&cid=91">http://www.zionsbank.com/deseret_jump/control.html?creativeID=11369660&tn=4733&group=4733&failsafe='http://www.zionsbank.com/deseret_jump.html'&cid=91</a> 5.3% apy w/balances >$1000</p>
<p><a href="https://www.emigrantdirect.com/EmigrantDirectWeb/index.jsp%5B/url%5D">https://www.emigrantdirect.com/EmigrantDirectWeb/index.jsp</a> 4.75 percent APY</p>
<p><a href="http://www.hsbcdirect.com%5B/url%5D">http://www.hsbcdirect.com</a> 4.5 percent APY</p>
<p>with a rate of about 5 percent you should get about 87 bucks every 6 months or so</p>
<p>if you do set up an account don't make one with anyone offering a rate under about 4-4.5 percent apy</p>
<p>yes get some interest out of that or invest it in something! If its not your money but your parent's money... just stick it in your savings account.</p>
<p>I personally like ETrade's complete savings along with their ETrade checking product. Open them together, link them, and put $3k in savings and $500 in checking or whatever distribution you desire. It comes with free checks for life, and a free visa debit card. 4.7% for the complete savings. Schwab also offers an interest checking+brokerage product where the interest checking gives ATM refunds forever, a visa debit card and a link to your brokerage account. And a 4.00% APY. Not too shabby. But high-4 and low-5 will be about the best rate you'll get.</p>
<p>Honestly, I'd just save it. You have to have some liquid assets (something where you can go get your money and use it to pay for broken car/computer/tuition if a scholly falls through) and a lot of the things mentioned in this thread will lock that money away from you for a while or charge you to take it out.</p>
<p>the coke was a good idea</p>
<p>send some my way?</p>
<p>That is not too little to invest. I'd invest it in the market for sure.</p>
<p>It is too little, you'd be unable to diversify so not only would you be exposed to the market risk (which is high right now), but high industry and firm risk as well. All in all a bad proposition.</p>
<p>you can only put some in an IRA if you are actually earning money (not from gifts, etc). If you are earning money, you should definitely have an IRA.</p>
<p>one hell of a night in vegas</p>