What is a way to make money fast to leave for our 2 handicapped adult children?
My answer to What is a way to make money fast to leave for our 2 handicapped adult children?
Answer by Frank Wesley:
The best way to make money fast?
As you well know I’m sure, there’s an old saying that if “something is too good to be true, then it probably is.” That’s true advice when it comes to your money, considering that there are probably far more investment scams out there than sure things.
So quite frankly, you need to be careful.
While it’s not nearly as fun as watching your favorite stock on the evening news, a great way of doubling your money is that matching contribution you receive in your employer’s retirement plan, that’s if you’re employed of course.
Getting an automatic 50 cents for every dollar you deposit is tough to beat.
How about a Money Market Account:
Will it make you outrageously rich, I don’t think so. However, Money Markets are currently paying a very close APY to one year CD’s. Investors familiar with the discipline of owning a CD can earn a similar return with a Money Market and still have immediate access to their funds.
Money Market accounts provide depositors with ATM cards, checks and deposit slips. Money Market accounts are based on the account balance, not the length of time you invest your money.
When CD rates begin to rise, clients can move their money from the Money Market without paying a penalty for early withdrawal.
All of these factors combined are why many people consider money market accounts as a type of “savings account on steroids.” While there isn’t much risk involved, you can potentially secure a higher rate of return.