FundRobot » Best Funds » What's the best kind of bank account to have to "Increase my Money" monthly?

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Old   #1 (permalink)
 
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Default the best kind of bank account to have to "increase my money" monthly

Hello everybody! I'm still fairly "ignorant" in the financial world. Hopefully with a bit of your help I can gain some knowledge :). Let's say I have 2000$. I won't touch those 2000$ for 3-6 months if not more. What's the best kind of account I could create in order to watch my money "grow" on monthly basis? Are there any fee's to pay? Thanks!
-Eric

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Default the best kind of bank account to have to "increase my money" monthly

Bank accounts are currently paying 0.10% interest or about a dime for every $100 per year. Your money isn't going to grow through interest. If you are disciplined, your nest egg grows throw continual savings.
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Default the best kind of bank account to have to "increase my money" monthly

The best bank interest rate is in a time deposit
called a CD. Depending on the length of time
you leave it there. You can make about 1% interest.
Still very poor. I suggest a no load mutual fund
witth low risk as a better alternastive and a chance to
make 4 or 5%.
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